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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