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Firstrade vs Scottrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Wednesday, June 21st, 2017

The StockBrokers.com 2017 Brokerage Review compares Firstrade vs Scottrade. Compare Firstrade and Scottrade trade commissions, fees and overall broker ratings by using the table below. Is Firstrade or Scottrade a better online broker?

Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Scottrade charges $6.95 per stock trade which is $2.00 more than Firstrade which charges clients $4.95 per trade. Looking at trading options, Firstrade's base fee is $4.95 while Scottrade's is $6.95. At a difference of $0.05 per contract, Firstrade's per contract rate of $0.65 is less than Scottrade which charges $0.70. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review page, then navigate to the "Commission Notes" section).

Alongside trade commissions, being able to trade the way you want is a must. Both Firstrade and Scottrade support Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Scottrade boasts an offering of 13599 compared to Firstrade's 12191 available funds. Commission free ETFs can also be a nice plus, Firstrade offers 12 versus Scottrade's total of 0.

Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Scottrade has virtual trading, Firstrade doesn't. For mobile trading, Firstrade offers the iPhone App and Android App while Scottrade offers the 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 offered by Firstrade while Scottrade offers Checking Accounts, Savings Accounts and Debit Cards. On the whole, when it comes to tools, research, and trading on the go, Both Firstrade and Scottrade found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2014.

Overall, Scottrade takes the upper hand with 4.00 stars over Firstrade's 3.50 stars.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Firstrade
Special Offer Get up to $1000 in free commissions Learn More
Firstrade Review
 
3.5
3.5
3.5
2
4
4
3.5
4.5
3
1.5
2
 
$4.95
$4.95
$0.65
$9.95
$19.95
$0.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
No
Yes
No
5
58
8
57
 
Yes
No
Yes
No
No
 
Yes
No
No
Yes
No
 
12
4928
12191
4200
2
 
7.75%
7.50%
7.00%
6.50%
6.00%
4.50%
5.00%
 
Yes
No
No
Yes
No
No
Scottrade
Scottrade Review
 
4
3.5
3
4
4.5
4.5
3.5
4.5
4
3.5
4
 
$6.95
$6.95
$0.70
$17.00
$32.00
$2,500.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
67
28
236
 
Yes
Yes
Yes
No
No
 
Yes
No
No
Yes
No
 
0
7213
13599
3500
503
 
8.00%
7.25%
7.00%
6.50%
6.25%
5.25%
5.75%
 
Yes
Yes
No
Yes
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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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