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Firstrade vs Robinhood 2019

Blain Reinkensmeyer

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is Robinhood better than Firstrade? After scoring brokers in nine separate categories for our 2019 review, Firstrade (67.1%) is better than Robinhood (46.99%). While Firstrade lacks a feature-rich platform, the broker offers commission-free trading, maintains a clean website, and offers its customers the basics to maintain a long-term portfolio.

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Overall Rating

Feature Firstrade Robinhood
Overall 3.5 2.5
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 4.5
Winner check_circle

Margin Rates

Feature Firstrade Robinhood
Under $24,999.99 9.50% 5.00%
$25,000.00 to $49,999.99 9.00% 5.00%
$50,000.00 to $99,999.99 8.50% 5.00%
$100,000.00 to $249,999.99 8.00% 5.00%
$250,000.00 to $499,999.99 7.75% 5.00%
$500,000.00 to $999,999.99 6.00% 5.00%
Above $1,000,000.00 5.25% 5.00%
Commissions & Fees 4 4.5
Winner check_circle

Account Fees

Feature Firstrade Robinhood
IRA Annual Fee 0 0
IRA Closure Fee 0 0
Returned ACH Fee 50 9
Returned Wire Fee 50 9
Stock Certificate Processing Fee 300 N/A
Stock Certificate Delivery Fee 300 N/A
Paper Statement Fee 5 5
Paper Confirmation Fee 3 2
Domestic Wire Fee 30 25
International Wire Fee 50 50
Commissions & Fees 4 4.5

Investment Options

Feature Firstrade Robinhood
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
2 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs all all
Mutual Funds (No Load)
5234 0
Mutual Funds (Total)
12603 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
No No
Offering of Investments 3.5 2
Winner check_circle

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 No
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 3.5 2
Winner check_circle

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
13 7
Two-Factor Authentication Login
No Yes
Heat Mapping
Yes No
Platforms & Tools 2 1
Winner check_circle

Charting Features

Feature Firstrade Robinhood
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
58 0
Charting - Drawing Tools
5 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 0
Charting - Custom Studies
No No
Platforms & Tools 2 1
Winner check_circle

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
Client 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
No 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 - Basic Fields
No Yes
Stock Alerts - Advanced Fields
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 3.5
Winner check_circle

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
Research - Futures
No No
Research - Forex
No 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 1
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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 1
Winner check_circle

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 1
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 1
Winner check_circle

Options Trading

Feature Firstrade Robinhood
Option Chains - Streaming
No No
Option Chains - Total Columns
8 5
Option Chains - Greeks
5 0
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 No
Option Positions - Adv Analysis
No No
Option Positions - Rolling
Yes No
Option Positions - Grouping
No No
Platforms & Tools 2 1
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)
5 0
Webinars (Archived)
Yes No
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 3 2
Winner check_circle

Banking

Feature Firstrade Robinhood
Retail Locations
2 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
Winner check_circle

Overall

Feature Firstrade Robinhood
Firstrade Review Robinhood Review
Overall 3.5 2.5
Winner check_circle
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 Robinhood 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. Firstrade and Robinhood both cost $0 per trade. For options trading, both Firstrade and Robinhood charge the same base fee of $0. Option contracts at both of the brokerages are the same at $0 each. 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. Robinhood provides its clients with Stock Trading and Options Trading while Firstrade provides clients access to Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Firstrade offers its clients access to 12603 different mutual funds while Robinhood has 0 available funds, a difference of 12,603.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Firstrade nor Robinhood offers virtual trading. For mobile trading, Firstrade and Robinhood 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. Checking Accounts and Debit Cards are offered by Firstrade while Robinhood offers 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 02/18/2019 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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