Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Firstrade vs OptionsHouse 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. OptionsHouse, with its regular stock trades costing $4.95, is more expensive than Firstrade's rate of $2.95 per trade. With options, the base fees charged are $4.95 (OptionsHouse) and $2.95 (Firstrade). Option contracts run $0.50 a piece at both brokerages. 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. OptionsHouse offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Firstrade offers Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Firstrade boasts an offering of 12603 mutual funds compared to OptionsHouse's 12275 available funds. And, commission free ETFs deserve a comparison, Firstrade offers 12 commission free ETFs versus OptionsHouse's total of 5.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. OptionsHouse makes virtual trading available to clients, while Firstrade does not. For mobile trading, Firstrade and OptionsHouse both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts and Debit Cards at Firstrade while customers at OptionsHouse can have none of these. All factors considered, when it comes to platform tools, research, and mobile trading, OptionsHouse posted awards Best in Class - Mobile Trading in 2018, while Firstrade found itself with none of these.
Overall, OptionsHouse takes the upper hand with 4.00 stars over Firstrade's 3.50 stars.