The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Firstrade vs Robinhood. Is Firstrade or Robinhood a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Firstrade and Robinhood both cost $0 per trade. With options, the base fee is $0 for both Firstrade and Robinhood. Option contracts at both of the brokerages are the same at $0 each. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Robinhood offers clients Stock Trading and Options Trading while Firstrade offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Robinhood trails Firstrade by 12,603 total mutual funds, with Firstrade offering 12603 and Robinhood offering 0. Commission free ETFs can also be a nice plus, Firstrade offers 2200 commission free ETFs versus Robinhood's total of 499.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Firstrade nor Robinhood offers virtual trading. For mobile trading, Firstrade along with Robinhood both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at Firstrade while customers at Robinhood can have none of these. On the whole, when it comes to tools, research, and mobile trading, unfortunately, neither Firstrade nor Robinhood received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade boasts 4.00 stars versus Robinhood's 2.50 stars.