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.