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Interactive Brokers vs Firstrade 2022

Is Interactive Brokers better than Firstrade? After testing 15 of the best online brokers over six months, Interactive Brokers (89.29%) is better than Firstrade (77.79%). In 2022, Interactive Brokers remains our top pick for professionals because of its institutional-grade desktop trading platform and rock-bottom margin rates. Professionals aside, Interactive Brokers also appeals to active traders and casual investors with $0 trades and a user-friendly web platform.

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Overall Rating expand_moreexpand_less Interactive Brokers Firstrade
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar starstarstarstarstar_border
Customer Service starstarstarstar_borderstar_border starstarstarstar_borderstar_border
Education starstarstarstarstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
Winner check_circle
Review Interactive Brokers Review Firstrade Review
Trading Fees expand_moreexpand_less Interactive Brokers Firstrade
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Mutual Fund Trade Fee $14.95 $0.00
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) $0.85 N/A
Broker Assisted Trade Fee $30.00 $19.95
Margin Rates expand_moreexpand_less Interactive Brokers Firstrade
Margin Rate Under $24,999.99 1.58% 8.75%
Margin Rate $25,000.00 to $49,999.99 1.58% 8.25%
Margin Rate $50,000.00 to $99,999.99 1.58% 7.75%
Margin Rate $100,000.00 to $249,999.99 1.08% 7.25%
Margin Rate $250,000.00 to $499,999.99 1.08% 7.00%
Margin Rate $500,000.00 to $999,999.99 1.08% 5.10%
Margin Rate Above $1,000,000.00 0.75% 4.50%
Account Fees expand_moreexpand_less Interactive Brokers Firstrade
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $0.00 $55.00
Account Transfer Out (Full) $0.00 $75.00
Options Exercise Fee 0.00 0.00
Options Assignment Fee 0.00 0.00
Investment Options expand_moreexpand_less Interactive Brokers Firstrade
Stock Trading Yes Yes
Fractional Shares Yes No
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 6 4
Futures Trading Yes No
Forex Trading No No
Crypto Trading Yes No
Crypto Trading - Total Coins 4 0
Mutual Funds (No Load) 10882 13777
Mutual Funds (Total) 11160 19027
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services No No
International Countries (Stocks) 33 0
Order Types expand_moreexpand_less Interactive Brokers Firstrade
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes Yes
Beginners expand_moreexpand_less Interactive Brokers Firstrade
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) Yes No
Education (Retirement) Yes Yes
Retirement Calculator No Yes
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading Apps expand_moreexpand_less Interactive Brokers Firstrade
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes Yes
Stock App Features expand_moreexpand_less Interactive Brokers Firstrade
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes No
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 669 47
Stock App Charting expand_moreexpand_less Interactive Brokers Firstrade
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 70 81
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons No No
Trading Platforms expand_moreexpand_less Interactive Brokers Firstrade
Desktop Trading Platform Yes No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes No
Watch Lists - Total Fields 669 47
Stock Chart Features expand_moreexpand_less Interactive Brokers Firstrade
Charting - Adjust Trades on Chart Yes No
Charting - Indicators / Studies 121 102
Charting - Drawing Tools 9 8
Charting - Notes Yes No
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes No
Charting - Corporate Events Yes Yes
Charting - Custom Date Range No No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 6 6
Charting - Custom Studies No No
Day Trading expand_moreexpand_less Interactive Brokers Firstrade
Streaming Time & Sales Yes No
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading Yes No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes No
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv Yes No
Short Locator Yes No
Order Liquidity Rebates Yes No
Research Overview expand_moreexpand_less Interactive Brokers Firstrade
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes Yes
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Bonds Yes Yes
Misc - Portfolio Allocation Yes Yes
Stock Research expand_moreexpand_less Interactive Brokers Firstrade
Stock Research - PDF Reports 5 1
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes Yes
ETF Research expand_moreexpand_less Interactive Brokers Firstrade
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes Yes
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes Yes
ETFs - Morningstar StyleMap Yes Yes
ETFs - PDF Reports Yes Yes
Mutual Fund Research expand_moreexpand_less Interactive Brokers Firstrade
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart No Yes
Mutual Funds - Performance Analysis Yes Yes
Mutual Funds - Prospectus Yes Yes
Mutual Funds - 3rd Party Ratings Yes Yes
Mutual Funds - Fees Breakdown Yes Yes
Mutual Funds - Top 10 Holdings Yes Yes
Mutual Funds - Asset Allocation Yes Yes
Mutual Funds - Sector Allocation Yes Yes
Mutual Funds - Country Allocation Yes Yes
Mutual Funds - StyleMap Yes Yes
Options Trading expand_moreexpand_less Interactive Brokers Firstrade
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes No
Option Chains - Total Columns 37 8
Option Chains - Greeks 4 5
Option Chains - Quick Analysis Yes No
Option Analysis - P&L Charts Yes No
Option Probability Analysis Yes No
Option Probability Analysis Adv Yes No
Option Positions - Greeks Yes No
Option Positions - Greeks Streaming Yes No
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes No
Banking expand_moreexpand_less Interactive Brokers Firstrade
Bank (Member FDIC) Yes No
Checking Accounts Yes Yes
Savings Accounts No No
Credit Cards No No
Debit Cards Yes Yes
Mortgage Loans No No
Customer Service expand_moreexpand_less Interactive Brokers Firstrade
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No Yes
Live Chat (Current Customers) Yes Yes
24/7 Support No No
Overall expand_moreexpand_less Interactive Brokers Firstrade
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar starstarstarstarstar_border
Education starstarstarstarstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
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Interactive Brokers vs Firstrade Comparison

Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Interactive Brokers vs Firstrade.

Is Interactive Brokers or Firstrade better for beginners?

Interactive Brokers offers more comprehensive new investor education for beginner investors than Firstrade. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Firstrade offers investors access to Videos, Education (Stocks), Education (Options) and Education (Retirement), neither have Education (Mutual Funds).

What about Interactive Brokers vs Firstrade pricing?

Interactive Brokers and Firstrade charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Interactive Brokers, costing $0.65 per contract versus $0.00 per contract at Firstrade. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Interactive Brokers or Firstrade offer a wider range of investment options?

Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, while Firstrade offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets and Mutual Funds, neither have Forex Trading and Advisor Services. Looking at Mutual Funds, Firstrade trails Interactive Brokers in its offering of no transaction fee (NTF) mutual funds, with Interactive Brokers offering 4329 and Firstrade offering 3767.

Which trading platform is better: Interactive Brokers or Firstrade?

To compare the trading platforms of Interactive Brokers and Firstrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts and Debit Cards are available to customers of Interactive Brokers and Firstrade, neither have Savings Accounts, Credit Cards and Mortgage Loans.

Is Interactive Brokers good?

In 2022, Interactive Brokers remains our top pick for professionals because of its institutional-grade desktop trading platform and rock-bottom margin rates. Professionals aside, Interactive Brokers also appeals to active traders and casual investors with $0 trades and a user-friendly web platform.

Is Firstrade good?

Firstrade scored well in our 2022 Annual Review for ease of use, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.

Interactive Brokers vs Firstrade Winner

Overall winner: Interactive Brokers

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