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Firstrade vs Robinhood 2021

Is Firstrade better than Robinhood? After testing 11 of the best online brokers over three months, Firstrade (78.89%) is better than Robinhood (62.62%). While Firstrade is easy to use and terrific for Chinese-speaking investors, its overall offering struggles to stand out against brokers who also offer $0 stock trades.


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Overall Rating

Feature Firstrade Robinhood
Overall 4 3
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2.5
Platforms & Tools 2.5 2
Mobile Trading 4 4
Research 4 2
Education 3 3
Ease of Use 5 5
Firstrade Review Robinhood Review
Winner check_circle

Trading Fees

Feature Firstrade Robinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Mutual Fund Trade Fee $0.00 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.00 $0.00
Futures (Per Contract) N/A N/A
Broker Assisted Trades Fee $19.95 N/A

Margin Rates

Feature Firstrade Robinhood
Under $24,999.99 8.75% 2.50%
$25,000.00 to $49,999.99 8.25% 2.50%
$50,000.00 to $99,999.99 7.75% 2.50%
$100,000.00 to $249,999.99 7.25% 2.50%
$250,000.00 to $499,999.99 7.00% 2.50%
$500,000.00 to $999,999.99 5.10% 2.50%
Above $1,000,000.00 4.50% 2.50%

Account Fees

Feature Firstrade Robinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $55.00 $75.00
Account Transfer Out (Full) $75.00 $75.00
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

Investment Options

Feature Firstrade Robinhood
Stock Trading
Yes Yes
Fractional Shares
No Yes
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No No
Forex Trading
No No
Crypto Trading No Yes
Mutual Funds (No Load)
11134 0
Mutual Funds (Total)
18322 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
No No
AI Assistant Bot
No No

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
No No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
No No

Customer Service

Feature Firstrade Robinhood
Phone Support (Prospect Customers)
Yes No
Phone Support (Current Customers)
Yes Yes
Email Support
Yes Yes
Live Chat (Prospect Customers)
Yes No
Live Chat (Current Customers)
Yes No
24/7 Support
No No

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
Heat Mapping
Yes No
Watch Lists - Total Fields
47 7

Charting Features

Feature Firstrade Robinhood
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
102 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
Trade Ideas - Technical Analysis
No No
Charting - Study Customizations
6 2
Charting - Custom Studies
No No

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

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

Mobile App Features

Feature Firstrade Robinhood
Watch List Syncing
Yes Yes
Stock Alerts
No No
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

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

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

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

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

Options Trading

Feature Firstrade Robinhood
Option Chains - Streaming
No Yes
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 Yes

Beginners

Feature Firstrade Robinhood
Education (Stocks)
Yes Yes
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
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

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 Yes
Mortgage Loans
No No
No Fee Banking
No No

Overall

Feature Firstrade Robinhood
Overall 4 3
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2.5
Platforms & Tools 2.5 2
Mobile Trading 4 4
Research 4 2
Education 3 3
Ease of Use 5 5
Firstrade Review Robinhood Review
Winner check_circle

Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 brokerages to find the best online broker. Let's compare Firstrade vs Robinhood.

Is Firstrade or Robinhood better for beginners?
Firstrade is better for beginner investors than Robinhood. Firstrade offers investors access to Videos, Education (Stocks), Education (Options) and Education (Retirement).

What about Firstrade vs Robinhood pricing?
Firstrade and Robinhood charge the same amount for regular stock trades, $0. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts cost $0 each at both brokerages. For a complete commissions summary, see our best discount brokers guide.

Does Firstrade or Robinhood offer a wider range of investment options?
Firstrade offers a more diverse selection of investment options than Robinhood. Firstrade offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading and Mutual Funds. Looking at Mutual Funds, Firstrade offers its clients access to 18322 different mutual funds while Robinhood has 0 available funds, a difference of 18,322.

Which trading platform is better: Firstrade or Robinhood?
To compare the trading platforms of both Firstrade and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Firstrade offers a better experience. With research, Firstrade offers superior market research. Finally, we found Robinhood to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts and Debit Cards are offered by Firstrade while Robinhood offers Debit Cards.

Overall winner: Firstrade

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All pricing data was obtained from a published web site as of 01/19/2021 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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