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 TD Ameritrade.
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 TD Ameritrade charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Firstrade and TD Ameritrade. Each option contract then costs $0.65 at TD Ameritrade and $0 at Firstrade. 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. TD Ameritrade supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Firstrade supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, TD Ameritrade trails Firstrade by 185 total mutual funds, with Firstrade offering 12603 and TD Ameritrade offering 12418.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TD Ameritrade offers virtual trading while Firstrade does not. Taking a look at mobile trading, Firstrade along with TD Ameritrade both support the 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 TD Ameritrade offers customers Checking Accounts, Debit Cards and Credit Cards.
Overall, between Firstrade and TD Ameritrade, TD Ameritrade is the winner.
TD Ameritrade Review