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 5,000 data points, let's compare Firstrade vs TradeStation Securities.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. TradeStation Securities charges more than Firstrade for placing regular stock trades ($5.00 and $2.95, respectively). With options, the base fees charged are $5.00 (TradeStation Securities) and $2.95 (Firstrade). Option contracts at both of the brokerages are the same at $0.50 each. 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. TradeStation Securities provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Firstrade provides clients access to Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Firstrade offers its clients access to 12603 different mutual funds while TradeStation Securities has 4951 available funds, a difference of 7,652. Commission free ETFs can also be valuable for customers, with TradeStation Securities falling behind Firstrade, offering 0 commission free ETFs compared to Firstrade's 703.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation Securities offers virtual trading while Firstrade does not. Taking a look at mobile trading, Both Firstrade and TradeStation Securities offer clients access to an 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 offered by Firstrade while TradeStation Securities offers none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities posted awards Best in Class - Platforms & Tools in 2018, while Firstrade found itself with none of these.
Overall, both Firstrade and TradeStation Securities are rated 4.00 stars.