Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare E*TRADE vs Firstrade to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. E*TRADE charges $6.95 per stock trade which is $4.00 more than Firstrade which charges customers $2.95 per trade. Looking at trading options, Firstrade's base fee is $2.95 while E*TRADE's is $6.95. Option contracts are pricier at E*TRADE, costing $0.75 versus $0.50 at Firstrade. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Firstrade supports Stock Trading, Options Trading and Mutual Funds while E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Firstrade boasts an offering of 12603 mutual funds compared to E*TRADE's 8998 available funds. And, commission free ETFs deserve a comparison, Firstrade offers 703 commission free ETFs versus E*TRADE's total of 225.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither E*TRADE and Firstrade offer virtual trading. For mobile trading, E*TRADE along with Firstrade both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts and Debit Cards are found at E*TRADE alongside Firstrade. All factors considered, when it comes to platform tools, research, and mobile trading, E*TRADE was rated Best in Class - Research, while Firstrade was rated none of these.
Overall, E*TRADE boasts 4.50 stars versus Firstrade's 4.00 stars.