Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Firstrade vs OptionsHouse.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. OptionsHouse charges more than Firstrade for placing regular stock trades ($4.95 and $2.95, respectively). With options, the base fees charged are $4.95 (OptionsHouse) and $2.95 (Firstrade). Option contracts run $0.50 a piece at both brokerages. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. OptionsHouse offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Firstrade offers Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, OptionsHouse trails Firstrade by 328 total mutual funds, with Firstrade offering 12603 and OptionsHouse offering 12275. Commission free ETFs can also be valuable for customers, with OptionsHouse falling behind Firstrade, offering 5 commission free ETFs compared to Firstrade's 703.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. OptionsHouse offers virtual trading while Firstrade does not. Taking a look at mobile trading, Both Firstrade and OptionsHouse offer clients access to an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts and Debit Cards are available to clients of Firstrade while OptionsHouse offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, OptionsHouse posted awards Best in Class - Mobile Trading in 2018, while Firstrade found itself with none of these.
Overall, both Firstrade and OptionsHouse share a rating of 4.00 stars.