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 charges more than Robinhood for placing regular stock trades ($2.95 and $0, respectively). Looking at trading options, Robinhood's base fee is $0 while Firstrade's is $2.95. Option contracts are pricier at Firstrade, costing $0.50 versus $0 at Robinhood. 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 provides its clients with Stock Trading and Options Trading while Firstrade provides clients access to Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Firstrade offers its clients access to 12603 different mutual funds while Robinhood has 0 available funds, a difference of 12,603. Commission free ETFs can also be a nice plus, with Firstrade having the upper hand thanks to its 703 available commission free ETFs compared to Robinhood's offering of N/A.
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, Both Firstrade and Robinhood offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts and Debit Cards are available to clients of Firstrade while Robinhood offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, both Firstrade and Robinhood found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade comes out on top with 4.00 stars over Robinhood's 2.50 stars.