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 TradeStation Securities. Is Firstrade or TradeStation Securities a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. TradeStation Securities charges more than Firstrade for placing regular stock trades ($5.00 and $2.95, respectively). Looking at trading options, Firstrade's base fee is $2.95 while TradeStation Securities's is $5.00. Option contracts run $0.50 a piece at both brokerages. 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. TradeStation Securities supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Firstrade supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, TradeStation Securities trails Firstrade by 7,652 total mutual funds, with Firstrade offering 12603 and TradeStation Securities offering 4951. Commission free ETFs can also be a nice plus, with TradeStation Securities falling behind Firstrade, offering 0 commission free ETFs compared to Firstrade's 12.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation Securities makes virtual trading available to clients, while Firstrade does not. For mobile trading, Firstrade and TradeStation Securities both have a 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 TradeStation Securities offers none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities was rated Best in Class - Platforms & Tools, while Firstrade was rated none of these.
Overall, both Firstrade and TradeStation Securities hold a 3.50 star rating.