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Firstrade vs TradeStation 2025

StockBrokers.com

Written by StockBrokers.com

July 03, 2025

In this head to head comparison of Firstrade vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Firstrade
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00
TradeStation
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.60

Range of investments

When choosing between Firstrade and TradeStation, both platforms offer competitive investment options and solid reputations in the brokerage market. Firstrade and TradeStation cater to a variety of investment preferences, including stock and margin trading, mutual funds, as well as options trading, and both platforms adequately support traditional and Roth IRA accounts. While Firstrade excels by providing the opportunity to trade fractional shares, TradeStation covers futures trading, a feature not available with Firstrade. Based on StockBrokers.com rankings, TradeStation holds a slight edge in range of investments, ranked #5 compared to Firstrade's #6, though both share an identical rating of 4.5 stars out of five.

Firstrade supports a wide array of investment choices such as stock trading, margin trading, fractional shares, OTC stocks, mutual funds, and options trading. This makes it an attractive option for traders interested in a diverse portfolio without the need for futures or crypto trading. Both Firstrade and TradeStation do not offer crypto trading, and neither provides advisor services, emphasizing a more hands-on approach to managing investments.

TradeStation offers a broad selection of investment options, including stock trading, margin trading, OTC stocks, mutual funds, options trading, and notably, futures trading, which sets it apart from Firstrade. Although fractional shares trading is not available, TradeStation remains a strong choice for more advanced traders seeking futures trading capabilities. Like Firstrade, TradeStation users can opt for traditional and Roth IRA accounts, catering to those interested in managing their retirement portfolios effectively.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes No
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info No Yes
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Range of Investments 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market

Trading platforms and tools

TradeStation and Firstrade differ significantly in terms of the trading platforms and tools they offer. TradeStation outshines Firstrade with a higher rating of 4.5 stars compared to Firstrade's 3 stars, according to StockBrokers.com. It ranks third out of fourteen brokers, while Firstrade ranks eleventh. For traders seeking flexibility and a wider range of tools, TradeStation may be the better choice, whereas Firstrade's offerings are more limited.

When it comes to platform availability, TradeStation provides a Windows desktop application, which Firstrade lacks. Both brokers offer a browser-based trading platform, suitable for those who prefer online access. One standout feature of TradeStation is its paper trading option, allowing users to practice without financial risk, a service Firstrade does not offer. Both brokers do not provide a Mac desktop application or a trading journal. In terms of watch lists, TradeStation offers significantly more columns for customization than Firstrade, with 341 compared to Firstrade’s 50.

Charting tools further set TradeStation apart. While both firms support automated technical analysis on charts, TradeStation offers 294 technical indicators and 23 drawing tools, surpassing Firstrade’s 102 indicators and 8 drawing tools. Moreover, TradeStation allows users to adjust open orders directly on stock charts, add notes, display historical trades, corporate events, and set custom date ranges—features absent in Firstrade’s platform. TradeStation also supports saving multiple chart profiles and creating custom studies, offering flexibility not found with Firstrade. For traders prioritizing comprehensive charting capabilities, TradeStation presents a more appealing choice.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Web Trading Platform info Yes Yes
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No No
Paper Trading info No Yes
Watch Lists - Total Fields info 50 341
Charting - Indicators / Studies info 102 294
Charting - Drawing Tools info 8 23
Platforms & Tools 3/5 Stars 4.5/5 Stars

Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025

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Beginners and education

When it comes to education for beginner investors, Firstrade and TradeStation each have their unique strengths. Firstrade offers educational content on stocks and options, featuring both videos and webinars to assist newcomers in understanding these investment options. However, it does not provide learning resources for ETFs, mutual funds, or bonds. Firstrade does not support paper trading, educational quizzes, or tracking learning progress, but has earned a decent 3.5-star rating for its educational offerings. Ranked #12 by StockBrokers.com, Firstrade presents a fair range of educational tools for those new to investing, particularly in stock and options education.

TradeStation also provides educational materials on stocks and options, along with engaging videos and webinars to help ease beginners into the investment world. Like Firstrade, it does not extend its educational resources to ETFs, mutual funds, or bonds. A key distinction is TradeStation's inclusion of a paper trading feature, enabling beginners to practice trading without financial risk. However, like Firstrade, it falls short in offering educational quizzes and tracking learning progress. With a slightly lower education rating of 3 stars compared to Firstrade, TradeStation is ranked #13 by StockBrokers.com for education, showcasing its comparative position among online brokers.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes Yes
Education (Mutual Funds) info No No
Education (Fixed Income) info No No
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes Yes
Education 3.5/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

When evaluating Firstrade and TradeStation, both platforms provide a comprehensive mobile trading experience, with each offering an iPhone and Android app. They both receive a commendable 4.5-star rating for their stock trading apps. However, despite their identical ratings, TradeStation slightly edges out Firstrade in StockBrokers.com's rankings, securing the #8 spot compared to Firstrade’s #9. These rankings reflect minor differences that could influence a trader's choice based on specific features and individual trading preferences.

Both Firstrade and TradeStation support mobile options trading, streaming quotes, and the creation and customization of watch lists. While neither offers Apple Watch apps, streaming live TV, or videos on demand, they provide essential tools for active traders. Firstrade stands out with its capability to view charts in landscape mode and offers more technical studies—81 compared to TradeStation's 45. Additionally, Firstrade enables users to display stock comparisons on charts, a feature not available on TradeStation.

For those interested in after-hours capabilities, Firstrade allows for mobile after-hours stock trading but lacks after-hours charting. Conversely, TradeStation supports after-hours charting but currently lacks after-hours trading on mobile. Ultimately, the choice between Firstrade and TradeStation may come down to individual needs, whether prioritizing technical studies and chart flexibility or focusing on after-hours market analysis.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes Yes
Charting - After-Hours info No Yes
Charting - Technical Studies info 81 45
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

When choosing between Firstrade and TradeStation, prospective investors will find notable differences in their account fees and charges, shaping the overall appeal of each platform. Firstrade stands out with its zero-cost structure across various transactions, including stock trades, options contracts, and IRA annual and closure fees. In contrast, TradeStation requires an options contract fee of $0.60 and imposes additional charges for IRA-related services, evidenced by its $35.00 annual fee and $50.00 closure fee. Both platforms offer a $0 minimum deposit, making them easily accessible to new investors, but Firstrade remains a more cost-effective solution for those concerned about fees.

For margin balances, Firstrade offers lower interest rates across different tiers. Investors with margin balances below $25,000 will find Firstrade's 12.75% rate slightly more favorable than TradeStation's 13.0%. This advantage extends as the balance range increases, with Firstrade charging 12.50% for balances between $25,000 and $49,999 versus TradeStation's consistent 13.0%. For even larger balances, Firstrade again beats TradeStation, offering a lower rate of 12.00% compared to 12.5%. Such differences can materialize into significant savings over time, thereby influencing an investor's preference for Firstrade when managing margin accounts.

Regarding account transfers and options related fees, Firstrade continues to offer a more cost-efficient alternative. Firstrade charges $55.00 for partial and $75.00 for full Account Transfers (ACAT), whereas TradeStation charges $125.00 regardless of the transfer type. Options exercise and assignment fees further highlight Firstrade’s cost-effectiveness, as they charge nothing for these services compared to TradeStation's $14.95 exercise fee and $5.95 assignment fee. When considering these aspects, Firstrade emerges as an attractive option for investors who prioritize lower fees and cost savings in their brokerage choice.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.00 $0.60
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

When it comes to day trading, TradeStation offers a host of features that Firstrade does not. TradeStation provides streaming time and sales for stocks, which gives traders real-time access to market data. In contrast, Firstrade does not offer this feature. TradeStation also supports direct market routing for stocks and ladder trading, both essential tools for active traders aiming for precision and speed. Firstrade, on the other hand, lacks these capabilities. Moreover, TradeStation empowers traders with the ability to use keyboard shortcuts, offering a faster way to enter trades. This feature is absent in Firstrade's offerings.

Additional capabilities that make TradeStation a more powerful platform for day traders include access to level 2 quotes and comprehensive strategy backtesting options, both basic and advanced. Firstrade does not support these advanced trading features. Furthermore, TradeStation has a short locator tool to help identify real-time share availability for short selling and provides order liquidity rebates, enhancing profitability for traders. Firstrade does not offer these services. While both platforms skip out on streaming live TV, TradeStation's comprehensive suite of tools positions it as a more advantageous option for dedicated day traders.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Equities info No Yes
Level 2 Quotes - Stocks info No Yes
Trade Ideas - Backtesting info No Yes
Trade Ideas - Backtesting Adv info No Yes
Short Locator info No Yes

Dive deeper: Best Day Trading Platforms for 2025

Market Research

When it comes to market research capabilities, Firstrade and TradeStation each offer distinct features that cater to different investor needs. Firstrade emerges as a more extensive option, ranking #6 out of 14 on StockBrokers.com, with a 4.5 out of 5-star rating for market research. In contrast, TradeStation, with a 2-star rating, ranks #11, indicating a more limited scope in research offerings.

Firstrade provides a comprehensive array of research tools, covering stocks, ETFs, mutual funds, Pink Sheets/OTCBB, and bonds. Users can also explore portfolio allocation by asset class, access social media sentiment data for stock research, and delve into ESG insights. While Firstrade offers downloadable PDF research reports for stocks and ETFs, TradeStation lacks such reports altogether. Conversely, TradeStation does furnish stock research and OTCBB insights, yet it falls short in mutual fund and bond research.

For those interested in screener tools, Firstrade once again takes the lead, offering stock, ETF, mutual fund, and bond screeners for trade ideas. TradeStation, however, only supports stock screeners, missing out on ETF, mutual fund, and bond options. Overall, Firstrade's extensive market research tools make it a strong choice for investors seeking a broader research spectrum, while TradeStation may appeal to those with more specific stock-focused needs.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Fixed Income info Yes No
Screener - Fixed Income info Yes No
Research 4.5/5 Stars 2/5 Stars

Banking

When comparing the banking features of online brokers Firstrade and TradeStation, Firstrade stands out with its offering of checking accounts and debit cards, catering to users looking for basic banking needs alongside their trading activities. While both platforms do not provide savings accounts or credit cards, Firstrade further differentiates itself by offering Certificates of Deposit (CDs), an option not available with TradeStation. Neither broker offers mortgage loans, but for those primarily interested in banking alongside broker services, Firstrade presents more comprehensive options than TradeStation.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Checking Accounts info Yes No
Savings Accounts info No No
Debit Cards info Yes No
Credit Cards info No No
Mortgage Loans info No No
Brokerage CDs info Yes No

Dive deeper: Best Brokerage Checking Accounts for 2025

Winner

After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Firstrade is better than TradeStation. Firstrade finished with an overall score of 81.8%, while TradeStation finished with a score of 80.2%.

With steady innovation and a growing feature set, Firstrade is quickly climbing the ranks to earn its place among the best online brokers. Firstrade’s $0 contract fee, no exercise/assignment fees, and top-tier options trade ticket make it one of the most cost-effective and well-designed platforms for options trading.

FAQs

Can you trade cryptocurrency with Firstrade or TradeStation?

Firstrade and TradeStation both do not offer crypto trading, and neither platform provides any cryptocurrencies for trading, with each offering 0 coins.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does Firstrade or TradeStation offer IRAs?

Both Firstrade and TradeStation offer traditional and Roth IRA accounts, but Firstrade provides a more cost-effective solution with no annual or closure fees, whereas TradeStation charges $35 annually and $50 for account closure.

Dive deeper: Best IRA Accounts for 2025

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Compare

0 of 5
Overall Rating Firstrade TradeStation
Overall 4/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 2/5 Stars
Customer Service 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3/5 Stars
Ease of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review TradeStation Review
Broker Screenshots Firstrade TradeStation
Broker Gallery (click to expand)
Trading Fees Firstrade TradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $0.00 $0.01 info
Mutual Fund Trade Fee info $0 $14.95
Options (Per Contract) info $0.00 $0.60
Futures (Per Contract) info (Not offered) $1.50
Broker Assisted Trade Fee info $19.95 $25
Margin Rates Firstrade TradeStation
Margin Rate Under $25,000 info 12.75% 13.0%
Margin Rate $25,000 to $49,999.99 info 12.50% 13.0%
Margin Rate $50,000 to $99,999.99 info 12.00% 12.5%
Margin Rate $100,000 to $249,999.99 info 11.50% 12.0%
Margin Rate $250,000 to $499,999.99 info 11.25% 12.0%
Margin Rate $500,000 to $999,999.99 info 9.35% 7.5% info
Margin Rate Above $1,000,000 info 8.75% 7.5% info
Account Fees Firstrade TradeStation
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00
Account Transfer Out (Partial) info $55.00 $125.00
Account Transfer Out (Full) info $75.00 $125.00
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
Investment Options Firstrade TradeStation
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No Yes
Forex Trading info No No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Fixed Income (Treasurys) info Yes Yes
Fixed Income (Corporate Bonds) info Yes Yes
Fixed Income (Municipal Bonds) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No No
International Countries (Stocks) info 0 0
Order Types Firstrade TradeStation
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 Yes
Order Type - OTO info Yes Yes
Order Type - Broker Assisted info Yes Yes
Beginners Firstrade TradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes Yes
Education (Mutual Funds) info No No
Education (Fixed Income) info No No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes No
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes Yes
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps Firstrade TradeStation
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
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 TradeStation
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
Stock App Charting Firstrade TradeStation
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 45
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes No
Trading Platforms Firstrade TradeStation
Active Trading Platform info N/A TradeStation 10
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watch Lists - Total Fields info 50 341
Stock Chart Features Firstrade TradeStation
Charting - Adjust Trades on Chart info No Yes
Charting - Indicators / Studies info 102 294
Charting - Drawing Tools info 8 23
Charting - Notes info No Yes
Charting - Historical Trades info No Yes
Charting - Corporate Events info No Yes
Charting - Custom Date Range info No Yes
Charting - Custom Time Bars info No Yes
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info No Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 6 12
Charting - Custom Studies info No Yes
Day Trading Firstrade TradeStation
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Equities info No Yes
Ladder Trading info No Yes
Trade Hot Keys info No Yes
Level 2 Quotes - Stocks info No Yes
Trade Ideas - Backtesting info No Yes
Trade Ideas - Backtesting Adv info No Yes
Short Locator info No Yes
Order Liquidity Rebates info No Yes
Research Overview Firstrade TradeStation
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Fixed Income info Yes No
Screener - Stocks info Yes Yes
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Fixed Income info Yes No
Portfolio Asset Allocation info Yes Yes
Stock Research Firstrade TradeStation
Stock Research - PDF Reports info 1 0
Stock Research - Earnings info Yes No
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Firstrade TradeStation
ETFs - Investment Objective info Yes No
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Total Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
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 TradeStation
Mutual Funds - Investment Objective 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 Yes
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 TradeStation
Option Chains - Total Greeks info 5 5
Option Analysis - P&L Charts info Yes Yes
Banking Firstrade TradeStation
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 No
Mortgage Loans info No No
Customer Service Firstrade TradeStation
Phone Support (Prospective Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospective Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No No
Overall Firstrade TradeStation
Overall 4/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 2/5 Stars
Education 3.5/5 Stars 3/5 Stars
Ease of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review TradeStation Review
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