StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn how we make money.

Firstrade vs Robinhood 2024

StockBrokers.com

Written by StockBrokers.com

January 31, 2024

Is Firstrade better than Robinhood? After testing 18 of the best online brokers, our analysis finds that Firstrade (87.7%) is better than Robinhood (84.5%). Firstrade scored well for penny stock trading in our 2024 Annual Awards, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.

Select Brokers

×
  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxCiti Self Invest
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxPublic.com
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSoFi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

Compare

0 of 5
Overall Rating Firstrade Robinhood
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
Broker Screenshots Firstrade Robinhood
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Firstrade Robinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $0.00 N/A
Mutual Fund Trade Fee $0 N/A
Options (Per Contract) $0.00 $0.00
Futures (Per Contract) (Not offered) (Not offered)
Broker Assisted Trade Fee $19.95 N/A
Margin Rates Firstrade Robinhood
Margin Rate Under $25,000 13.75% 12% info
Margin Rate $25,000 to $49,999.99 13.5% 12% info
Margin Rate $50,000 to $99,999.99 13% 12% info
Margin Rate $100,000 to $249,999.99 12.5% 12% info
Margin Rate $250,000 to $499,999.99 12.25% 12% info
Margin Rate $500,000 to $999,999.99 10.35% 12% info
Margin Rate Above $1,000,000 9.75% 12% info
Account Fees Firstrade Robinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) info $55.00 $100.00
Account Transfer Out (Full) info $75.00 $100.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Firstrade Robinhood
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info Yes Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No No
Forex Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 15
Mutual Funds (No Load) info 15460 0
Mutual Funds (Total) info 19666 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No No
International Countries (Stocks) info 0 0
Order Types Firstrade Robinhood
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes No
Beginners Firstrade Robinhood
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes Yes
Education (Mutual Funds) info No No
Education (Bonds) info No No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes Yes
Paper Trading info No No
Videos info Yes No
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps Firstrade Robinhood
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Firstrade Robinhood
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes Yes
Watch Lists - Total Fields info 50 3
Stock App Charting Firstrade Robinhood
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 81 6
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info No No
Trading Platforms Firstrade Robinhood
Active Trading Platform info Firstrade Navigator
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No No
Trade Journal info No No
Watch Lists - Total Fields info 50 3
Stock Chart Features Firstrade Robinhood
Charting - Adjust Trades on Chart info No No
Charting - Indicators / Studies info 102 6
Charting - Drawing Tools info 8 0
Charting - Notes info No No
Charting - Index Overlays info Yes No
Charting - Historical Trades info No No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info No No
Charting - Custom Time Bars info No No
Charting - Automated Analysis info No No
Charting - Save Profiles info No No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 6 1
Charting - Custom Studies info No No
Day Trading Firstrade Robinhood
Streaming Time & Sales info No No
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No No
Trade Hot Keys info No No
Level 2 Quotes - Stocks info No No info
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview Firstrade Robinhood
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes No
Screener - Stocks info Yes No
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes No
Stock Research Firstrade Robinhood
Stock Research - PDF Reports info 1 0 info
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes No
Stock Research - Social info No No
Stock Research - News info Yes Yes
Stock Research - ESG info No No
Stock Research - SEC Filings info Yes No
ETF Research Firstrade Robinhood
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes Yes
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes Yes
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Firstrade Robinhood
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Firstrade Robinhood
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info No Yes
Option Chains - Total Columns info 8 17
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info No Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info No No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info No Yes
Option Positions - Greeks Streaming info No Yes
Option Positions - Adv Analysis info No No
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info No Yes
Banking Firstrade Robinhood
Bank (Member FDIC) info No No
Checking Accounts info Yes No
Savings Accounts info No No
Credit Cards info No No
Debit Cards info Yes Yes
Mortgage Loans info No No
Customer Service Firstrade Robinhood
Phone Support (Prospect Customers) info Yes No
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes No
Live Chat (Current Customers) info Yes Yes
24/7 Support info No Yes
Overall Firstrade Robinhood
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
arrow_upward

Firstrade vs Robinhood Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Firstrade vs Robinhood.

Is Firstrade or Robinhood better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that Robinhood offers more comprehensive new investor education for beginning investors than Firstrade. 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. Firstrade and Robinhood both charge (Not offered) per option contract. For a deeper dive, see our best brokers for free stock trading or options trading guides

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

Looking at a full range of investment options, including order types and international trading, our research has found that Firstrade offers a more comprehensive offering than Robinhood. Firstrade ranks #6 out of 18 brokers for our Investment Options category, while Robinhood ranks #14.

Firstrade offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks and Mutual Funds, while Robinhood offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks. 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 4206 and Robinhood offering 0.

Do Firstrade and Robinhood offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that neither Firstrade or Robinhood offer crypto trading.

Which trading platform is better: Firstrade or Robinhood?

To compare the day trading platforms of Firstrade and Robinhood, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Firstrade offers a better experience.

Does Firstrade or Robinhood offer a better stock trading app?

After testing 25 features across the stock trading apps of Firstrade and Robinhood, we found Firstrade to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Firstrade ranks #6 out of 18 brokers, while Robinhood ranks #9.

Firstrade Trading App Gallery

Robinhood Trading App Gallery

Which broker is better for researching stocks?

For research, Firstrade offers superior market research than Robinhood. Firstrade ranks #6 and Robinhood ranks #14.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do Firstrade and Robinhood compare in terms of minimum deposit required?

Firstrade requires a minimum deposit of $0.00, while Robinhood requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

Firstrade charges 13.75% for accounts under $25,000 while Robinhood charges a margin rate of 12%. The industry average of the 18 brokers we track is 9%.

Does Firstrade offer fractional shares? Does Robinhood?

Firstrade and Robinhood allow traders to trade fractional shares. Our research has found that 46% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with Firstrade or Robinhood?

Both Firstrade and Robinhood allow you to trade penny stocks. Firstrade charges $0.00 per trade while Robinhood charges N/A. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

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.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

Firstrade was rated 9th out of 13 brokers, with an overall score of 7.43 out of 10.

Robinhood’s customer service could not be tested or rated due to the fact it does not offer phone support for prospective customers.

Is Firstrade good?

Firstrade scored well for penny stock trading in our 2024 Annual Awards, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.

In the 2024 StockBrokers.com Annual Awards, Firstrade placed among Best in Class for Penny Stock Trading.

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.

In the 2024 StockBrokers.com 2024 Annual Awards, Robinhood placed No. 1 for Ease of Use.

Firstrade vs Robinhood Winner

Overall winner: Firstrade

Popular trading guides

More trading guides

Popular stock broker reviews



close