Firstrade vs TradeStation Comparison
Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Firstrade vs TradeStation.
Is Firstrade or TradeStation better for beginners?
TradeStation offers more comprehensive new investor education for beginner investors than Firstrade. Firstrade offers investors access to Videos, Education (Stocks), Education (Options) and Education (Retirement), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options). Neither have Education (ETFs), Education (Mutual Funds) and Education (Bonds). See our guide to Best Paper Trading Platforms for more.
What about Firstrade vs TradeStation pricing?
Firstrade and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TradeStation, costing $0.60 per contract versus $0.00 per contract at Firstrade. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Firstrade or TradeStation offer a wider range of investment options?
Firstrade offers investors access to Stock Trading, Options Trading, OTC Stocks and Mutual Funds, while TradeStation offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Futures Trading. Neither have Fractional Shares, Forex Trading and Advisor Services. Looking at Mutual Funds, TradeStation trails Firstrade in its offering of no transaction fee (NTF) mutual funds, with Firstrade offering 3767 and TradeStation offering 0.
Which trading platform is better: Firstrade or TradeStation?
To compare the trading platforms of Firstrade and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, Firstrade offers superior market research. Finally, we found Firstrade to provide better mobile trading apps.
Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts and Debit Cards are offered by Firstrade while TradeStation offers none. Neither have Savings Accounts, Credit Cards and Mortgage Loans.
Is Firstrade good?
Firstrade scored well in our 2023 Annual Review for ease of use, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.
Is TradeStation good?
TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh. TradeStation ranked among Best in Class in the Commissions and Fees and Investment Options categories in our 2023 Annual Review of online stockbrokers.
Firstrade vs TradeStation Winner
Overall winner: Firstrade
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