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Firstrade vs Robinhood 2020

Is Firstrade better than Robinhood? After scoring brokers on over 3,500 data points for our 2020 review, Firstrade (76.33%) is better than Robinhood (62.62%).

Firstrade

Best for Chinese-speaking investors - Open Account
Special Offer: Commission-Free Trading on 700+ ETFs

Firstrade offers $0 stock, ETF, and options trades, and is best known for its easy-to-use website, alongside its Chinese language services. While Firstrade offers Morningstar research and a variety of tools, its overall offering struggles to stand out against household name brands who are also priced at $0. Read full review

Robinhood

Robinhood
Robinhood used to shine thanks to its easy-to-use mobile app and $0 trades. However, today, all of the largest online brokers offer free stock and ETF trades. As a result, it is much more difficult for Robinhood to outduel the competition. Read full review

Overall Rating

Feature Firstrade Robinhood
Overall 4 3
Firstrade Review Robinhood Review

Trading Fees

Feature Firstrade Robinhood
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.00 $0.00
Mutual Fund Trade Fee $0.00 N/A
Broker Assisted Trades Fee $19.95 $0.00
Commissions & Fees 4.5 4.5
Winner check_circle

Margin Rates

Feature Firstrade Robinhood
Under $24,999.99 9.00% 5.00%
$25,000.00 to $49,999.99 8.75% 5.00%
$50,000.00 to $99,999.99 8.25% 5.00%
$100,000.00 to $249,999.99 7.75% 5.00%
$250,000.00 to $499,999.99 7.50% 5.00%
$500,000.00 to $999,999.99 5.60% 5.00%
Above $1,000,000.00 5.00% 5.00%
Commissions & Fees 4.5 4.5
Winner check_circle

Account Fees

Feature Firstrade Robinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Returned ACH Fee $50.00 $9.00
Returned Wire Fee $50.00 $9.00
Stock Certificate Processing Fee $300.00 N/A
Stock Certificate Delivery Fee $300.00 N/A
Paper Statement Fee $5.00 $5.00
Paper Confirmation Fee $3.00 $2.00
Domestic Wire Fee $30.00 $25.00
International Wire Fee $50.00 $50.00
Commissions & Fees 4.5 4.5

Investment Options

Feature Firstrade Robinhood
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs all all
Mutual Funds (No Load)
10746 0
Mutual Funds (Total)
14939 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Interest Sharing
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 4 2
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Order Types

Feature Firstrade Robinhood
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
No No
Offering of Investments 4 2
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Trading Platforms

Feature Firstrade Robinhood
Desktop Platform (Windows)
No No
Desktop Platform (Mac)
No No
Web Platform
Yes Yes
Paper Trading
No No
Trade Journal
No No
Watch Lists - Total Fields
47 7
Heat Mapping
Yes No
AI Assistant Bot
No No
Platforms & Tools 2.5 2
Winner check_circle

Charting Features

Feature Firstrade Robinhood
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
58 5
Charting - Drawing Tools
8 0
Charting - Historical Trades
No No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
No No
Charting - Save Profiles
No No
Charting - Study Customizations
6 2
Charting - Custom Studies
No No
Platforms & Tools 2.5 2
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Day Trading

Feature Firstrade Robinhood
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
No No
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
No No
Level 2 Quotes - Stocks
No No
Level 2 Quotes - Options
No No
Trade Ideas - Backtesting
No No
Short Locator
No No
Order Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature Firstrade Robinhood
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature Firstrade Robinhood
Watch List Syncing
Yes Yes
Stock Alerts
No Yes
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 4
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Research Overview

Feature Firstrade Robinhood
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
No No
Screener - Bonds
Yes No
Misc - Portfolio Builder
No No
Misc - Portfolio Allocation
Yes Yes
Research 4 2
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Stock Research

Feature Firstrade Robinhood
Stock Research - Reports
1 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes No
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 4 2
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ETF Research

Feature Firstrade Robinhood
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Research 4 2
Winner check_circle

Mutual Fund Research

Feature Firstrade Robinhood
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 4 2
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Options Trading

Feature Firstrade Robinhood
Option Chains - Streaming
No No
Option Chains - Total Columns
8 6
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
No No
Option Analysis - P&L Charts
No No
Option Probability Analysis
No No
Option Probability Analysis Adv
No No
Option Positions - Greeks
No Yes
Option Positions - Adv Analysis
No No
Option Positions - Rolling
Yes No
Option Positions - Grouping
No No
Platforms & Tools 2.5 2
Winner check_circle

Beginners

Feature Firstrade Robinhood
Has Education - Stocks
Yes Yes
Has Education - ETFs
No No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
Yes No
Paper Trading
No No
Videos
Yes No
Webinars (Monthly Avg)
6 0
Webinars (Archived)
Yes No
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 3 3
Winner check_circle

Banking

Feature Firstrade Robinhood
Retail Locations
1 0
Member FDIC
No No
Checking Accounts
Yes No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
No No
Banking 2 0.5

Overall

Feature Firstrade Robinhood
Firstrade Review Robinhood Review
Overall 4 3
Winner check_circle

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 4,000 data points, let's compare Firstrade vs Robinhood.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Firstrade and Robinhood have equal fees for trading stocks (equities), $0 per trade. With options, the base fee is $0 for both Firstrade and Robinhood. Option contracts run $0 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. Robinhood supports Stock Trading and Options Trading while Firstrade supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Firstrade boasts an offering of 14939 mutual funds compared to Robinhood's 0 available funds.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Neither broker offers virtual trading. Taking a look at mobile trading, Firstrade and Robinhood both have a 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 Robinhood offers customers none of these.

Overall, between Firstrade and Robinhood, Firstrade is the winner.

Firstrade Review
Robinhood Review



All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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