The StockBrokers.com 2017 Brokerage Review
compares E*TRADE vs Firstrade. Compare E*TRADE and Firstrade trade commissions, fees and overall broker ratings by using the table below. Is E*TRADE or Firstrade a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. E*TRADE, with its regular stock trades costing $6.95, is more expensive than Firstrade's rate of $4.95 per trade. With options, the base fees charged are $6.95 (E*TRADE) and $4.95 (Firstrade). Contracts are pricier at E*TRADE, costing $0.75 versus $0.65 at Firstrade, a difference of $0.10 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. Firstrade supports Stock Trading, Options Trading and Mutual Funds while E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Firstrade boasts an offering of 12191 compared to E*TRADE's 8652 available funds. Commission free ETFs can also be a nice plus, with Firstrade falling behind E*TRADE, offering 12 commission free etfs compared to E*TRADE's 133.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Neither E*TRADE and Firstrade have virtual trading. For mobile trading, Firstrade offers the iPhone App and Android App while E*TRADE offers the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts and Debit Cards are found at E*TRADE alongside Firstrade. On the whole, when it comes to tools, research, and trading on the go, E*TRADE posted awards for Best in Class - Research and Best in Class - Mobile Trading in 2014, while Firstrade found itself with none of these.
Overall, E*TRADE boasts 4.00 stars versus Firstrade's 3.50 stars.