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Firstrade vs Robinhood 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is Firstrade better than Robinhood? After testing 17 of the best online brokers over three months, Firstrade (87.80%) is better than Robinhood (83.65%). Firstrade scored well in our 2023 Annual Review for ease of use, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.

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Overall RatingFirstradeRobinhood
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 3.5/5 Stars 3/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 2.5/5 Stars
Customer Service 3.0/5 Stars N/A
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 4.5/5 Stars 5/5 Stars
Winner check_circle
Review Firstrade Review Robinhood Review
Trading FeesFirstradeRobinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $0.00 N/A
Mutual Fund Trade Fee $0 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 Trade Fee $19.95 N/A
Margin RatesFirstradeRobinhood
Margin Rate Under $25,000 11.50% 9.75%
Margin Rate $25,000 to $49,999.99 11.30% 9.75%
Margin Rate $50,000 to $99,999.99 10.80% 9.75%
Margin Rate $100,000 to $249,999.99 10.30% 9.75%
Margin Rate $250,000 to $499,999.99 10.00% 9.75%
Margin Rate $500,000 to $999,999.99 8.10% 9.75%
Margin Rate Above $1,000,000 7.50% 9.75%
Account FeesFirstradeRobinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $55.00 $100.00
Account Transfer Out (Full) $75.00 $100.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsFirstradeRobinhood
Stock Trading Yes Yes
Margin 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 Yes Yes
Crypto Trading - Total Coins 38 17
Mutual Funds (No Load) 13777 0
Mutual Funds (Total) 19027 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services No No
International Countries (Stocks) 0 0
Order TypesFirstradeRobinhood
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes No
Order Type - OTO Yes No
Order Type - Broker Assisted Yes No
BeginnersFirstradeRobinhood
Education (Stocks) Yes Yes
Education (ETFs) No No
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) No No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes Yes
Paper Trading No No
Videos Yes No
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading AppsFirstradeRobinhood
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App No Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes Yes
Stock App FeaturesFirstradeRobinhood
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes No
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 50 3
Stock App ChartingFirstradeRobinhood
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 81 6
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons No No
Trading PlatformsFirstradeRobinhood
Active Trading Platform Firstrade Navigator
Desktop Trading Platform No No
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal No No
Watch Lists - Total Fields 50 3
Stock Chart FeaturesFirstradeRobinhood
Charting - Adjust Trades on Chart No No
Charting - Indicators / Studies 102 6
Charting - Drawing Tools 8 0
Charting - Notes No No
Charting - Index Overlays Yes No
Charting - Historical Trades No No
Charting - Corporate Events Yes No
Charting - Custom Date Range No No
Charting - Custom Time Bars No No
Charting - Automated Analysis No No
Charting - Save Profiles No No
Trade Ideas - Technical Analysis No No
Charting - Study Customizations 6 1
Charting - Custom Studies No No
Day TradingFirstradeRobinhood
Streaming Time & Sales No No
Streaming TV No No
Direct Market Routing - Stocks No No
Ladder Trading No No
Trade Hot Keys No No
Level 2 Quotes - Stocks No No
Trade Ideas - Backtesting No No
Trade Ideas - Backtesting Adv No No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewFirstradeRobinhood
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes No
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes Yes
Stock ResearchFirstradeRobinhood
Stock Research - PDF Reports 1 0
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes No
Stock Research - Social No No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF ResearchFirstradeRobinhood
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchFirstradeRobinhood
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes 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
Options TradingFirstradeRobinhood
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming No Yes
Option Chains - Total Columns 8 17
Option Chains - Greeks 5 5
Option Chains - Quick Analysis No Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis No No
Option Probability Analysis Adv Yes No
Option Positions - Greeks No Yes
Option Positions - Greeks Streaming No Yes
Option Positions - Adv Analysis No No
Option Positions - Rolling Yes Yes
Option Positions - Grouping No Yes
BankingFirstradeRobinhood
Bank (Member FDIC) No No
Checking Accounts Yes No
Savings Accounts No No
Credit Cards No No
Debit Cards Yes Yes
Mortgage Loans No No
Customer ServiceFirstradeRobinhood
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 Yes
24/7 Support No Yes
OverallFirstradeRobinhood
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 3.5/5 Stars 3/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 2.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 4.5/5 Stars 5/5 Stars
Winner check_circle
Review Firstrade Review Robinhood Review
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Firstrade vs Robinhood Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Firstrade vs Robinhood.

Is Firstrade or Robinhood better for beginners?

Firstrade offers more comprehensive new investor education for beginner investors than Robinhood. Firstrade offers investors access to Videos, Education (Stocks), Education (Options) and Education (Retirement), while Robinhood offers investors access to Education (Stocks) and Education (Options), neither have Paper Trading, Education (ETFs), Education (Mutual Funds) and Education (Bonds).

What about Firstrade vs Robinhood pricing?

Firstrade and Robinhood charge the same amount for regular stock trades, $0.00. Firstrade and Robinhood both charge $0.00 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Firstrade or Robinhood offer a wider range of investment options?

Firstrade offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets and Mutual Funds, while Robinhood offers investors access to Stock Trading, Fractional Shares and Options Trading, neither have Futures Trading, Forex Trading and Advisor Services. Looking at Mutual Funds, Robinhood trails Firstrade in its offering of no transaction fee (NTF) mutual funds, with Firstrade offering 3767 and Robinhood offering 0.

Which trading platform is better: Firstrade or Robinhood?

To compare the trading platforms of 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 Firstrade 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, neither have Savings Accounts, Credit Cards and Mortgage Loans.

Is Firstrade good?

Firstrade scored well in our 2023 Annual Review for ease of use, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.

Is Robinhood good?

Robinhood is very easy to use and its educational content is a joy to read. But, in today’s competitive market for your investing dollars, there are several more compelling options among brokerages.

Firstrade vs Robinhood Winner

Overall winner: Firstrade

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