Written by StockBrokers.com
In this head to head comparison of TradeStation vs Firstrade, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
TradeStation vs Firstrade: Both brokers cover the core choices—stocks, options, mutual funds, OTC stocks, and margin—while skipping forex and crypto (0 coins at each) and offering both Traditional and Roth IRAs without advisor services. The main differences are fractional shares (available at Firstrade, not at TradeStation) and futures (available at TradeStation, not at Firstrade). Each earns 4 out of 5 stars for Range of Investments, with StockBrokers.com ranking Firstrade slightly higher (#5 of 14) than TradeStation (#6 of 14).
TradeStation supports stock trading, options, mutual funds, OTC stocks, and margin accounts, plus access to futures for those who want to trade contracts alongside equities. It does not offer fractional shares, forex, or crypto trading, and there are no advisor services. Retirement savers can open Traditional and Roth IRAs.
Firstrade provides stock, options, mutual funds, OTC stocks, and margin trading, and adds fractional shares for buying smaller slices of companies. It does not support futures, forex, or crypto trading, and offers no advisor services. It also has Traditional and Roth IRAs for long-term investing.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| Stock Trading | Yes | Yes |
| Account Feature - Margin Trading | Yes | Yes |
| Fractional Shares (Stocks) | No | Yes |
| OTC Stocks | Yes | Yes |
| Mutual Funds | Yes | Yes |
| Options Trading | Yes | Yes |
| Futures Trading | Yes | No |
| Crypto Trading | No | No |
| Crypto Trading - Total Coins | 0 | 0 |
| Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms for 2026, Best Futures Trading Platforms for 2026
Bottom line: In a TradeStation vs Firstrade comparison for trading platforms and tools, TradeStation is the stronger pick. It offers desktop apps for both Windows and Mac plus a web platform, alongside deeper charting and customization and paper trading. TradeStation is rated 4 out of 5 stars and ranks #3 of 14 brokers for platforms and tools by StockBrokers.com, while Firstrade earns 1 star and ranks #12. Active traders and chart-focused investors will likely prefer TradeStation; Firstrade fits basic, web-only trading needs.
Platform access and workflow: TradeStation provides downloadable platforms for Windows and Mac, as well as a browser-based platform; Firstrade offers only a browser-based platform. TradeStation supports paper trading; Firstrade does not. Both lack a built-in trading journal. On charts, TradeStation lets you adjust open orders, add notes, display your historical trades, show earnings/splits/dividends, set custom date ranges, save multiple chart profiles, and build custom studies. Firstrade does not offer those specific features. Automated chart pattern recognition is available on both.
Depth of tools: TradeStation supplies 341 watchlist fields versus Firstrade’s 50, 294 technical indicators versus 102, and 45 drawing tools versus 8. Editing a simple moving average on TradeStation exposes 12 settings, double Firstrade’s 6, highlighting TradeStation’s wider chart customization.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | Yes | No |
| Desktop Platform (Mac) | Yes | No |
| Paper Trading | Yes | No |
| Watchlists - Total Fields | 341 | 50 |
| Charting - Indicators / Studies | 294 | 102 |
| Charting - Drawing Tools | 45 | 8 |
| Advanced Trading |
|
|
Dive deeper: Best Stock Brokers for 2026, Best Paper Trading Apps & Platforms for 2026
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TradeStation vs. Firstrade for beginner education: both brokers offer stock and options education, plus on-demand videos and webinars. Neither one provides education on ETFs, mutual funds, or bonds, and you won’t find quizzes or tools to track your learning progress.
The key difference is practice: TradeStation includes paper trading, which lets you test strategies without risking real money; Firstrade does not. In third-party scores, Firstrade edges ahead with a 2.5-star education rating and ranks 13th out of 14 brokers at StockBrokers.com, while TradeStation holds 2 stars and ranks 14th. Choose TradeStation if paper trading matters most, or Firstrade if you want slightly higher-rated education—just know both offerings are fairly limited.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | No | No |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | No | No |
| Education (Fixed Income) | No | No |
| Videos | Yes | Yes |
| Webinars | Yes | Yes |
| Education |
|
|
Dive deeper: Best Stock Trading Platforms for Beginners of 2026
TradeStation vs Firstrade: Both deliver 4-star stock trading apps for iPhone and Android, but they lean in different directions. TradeStation ranks higher (#6 vs #8 out of 14) and is the safer bet if you want confirmed mobile after-hours trading plus after-hours charting. Firstrade stands out for chart tools—landscape charts, on-chart stock comparisons, and a larger library of technical studies (81 vs 45)—making it appealing if chart depth matters most.
Shared features include iPhone and Android apps, options trading on mobile, streaming quotes, stock alerts, custom watch lists with editable columns, and support for multiple chart time frames. Neither broker offers an Apple Watch app, streaming live TV, or videos on demand. Firstrade’s mobile after-hours trading availability was not confirmed, while TradeStation supports it.
Charting is where the gap shows. TradeStation offers after-hours charting but lacks landscape view and does not allow side-by-side stock comparisons on mobile charts. Firstrade skips after-hours charting but lets you rotate to landscape, compare symbols on the chart, and tap into 81 technical studies versus TradeStation’s 45.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| iPhone App | Yes | Yes |
| Android App | Yes | Yes |
| Apple Watch App | No | No |
| Stock Alerts | Yes | Yes |
| Charting - After-Hours | Yes | No |
| Charting - Technical Studies | 45 | 81 |
| Mobile Trading Apps |
|
|
Dive deeper: Best Stock Trading Apps for 2026
Bottom line: In the TradeStation vs. Firstrade fees matchup, both offer $0.00 account minimums and $0.00 stock trades, but Firstrade is the better value for most investors. Firstrade charges $0.00 per options contract and $0.00 for both options exercise and assignment, has no IRA fees, and lower ACAT transfer costs. TradeStation can be cheaper only on certain margin tiers, so it may appeal to traders who keep larger margin balances, especially in the $50,000–$99,999 range.
Trading costs are straightforward. Stock trades are $0.00 at both brokers. Options are where the gap opens: TradeStation charges $0.60 per contract plus $14.95 to exercise and $5.95 for assignment, while Firstrade charges $0.00 per contract and $0.00 for exercise and assignment. Both brokers require a $0.00 minimum deposit.
Account and service fees also tilt toward Firstrade. Margin rates: under $25,000, TradeStation is 12.5% vs. Firstrade’s 12.75%; from $25,000–$49,999, both are 12.5%; from $50,000–$99,999, TradeStation is 11.5% vs. Firstrade’s 12.00%. For retirement accounts, TradeStation charges a $35.00 IRA annual fee and $50.00 to close, while Firstrade is $0.00 for both. Transfer fees are lower at Firstrade too: ACAT partial $55.00 and full $75.00 vs. TradeStation’s $125.00 for either.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| Options (Per Contract) | $0.60 | $0.00 |
| Options Exercise Fee | $14.95 | $0.00 |
| Options Assignment Fee | $5.95 | $0.00 |
| IRA Annual Fee | $35.00 | $0.00 |
| IRA Closure Fee | $50.00 | $0.00 |
Dive deeper: Best Free Trading Platforms for 2026
For day trading, TradeStation stands out as the more feature-rich platform. It offers streaming time and sales, Level II quotes, direct market routing, ladder trading, and keyboard hotkeys for fast order entry. You also get both basic and advanced strategy backtesting, a short locator to check real-time borrow availability for short selling, and maker‑taker liquidity rebates. Firstrade does not offer these tools. Neither broker streams live TV.
If you need speed, deeper market data, and fine control over order routing, TradeStation is the better fit for active day traders and scalpers. Firstrade may suit buy‑and‑hold investors or occasional traders, but it lacks the specialized features most day traders rely on to make quick decisions and manage entries and exits.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| Streaming Time & Sales | Yes | No |
| Streaming TV | No | No |
| Direct Market Routing - Equities | Yes | No |
| Level 2 Quotes - Stocks | Yes | No |
| Trade Ideas - Backtesting | Yes | No |
| Trade Ideas - Backtesting Adv | Yes | No |
| Short Locator | Yes | No |
Dive deeper: Best Day Trading Platforms of 2026 for Beginners and Active Traders
Bottom line: Firstrade is the stronger choice for market research than TradeStation. It covers more asset types, adds extra insight tools, and offers more ways to find ideas. TradeStation can suit traders who mainly focus on stocks, ETFs, and OTC, but most investors looking for broader, deeper research will likely prefer Firstrade.
Both brokers provide stock and ETF research and include Pink Sheets/OTC coverage. Only Firstrade offers research for mutual funds and bonds. When it comes to downloadable reports, Firstrade supplies one stock PDF report plus ETF reports, while TradeStation offers no PDFs; neither broker provides mutual fund PDFs.
For tools, both platforms show portfolio allocation by asset class and offer stock and ETF screeners for trade ideas. Firstrade goes further with mutual fund and bond screeners, along with stock research that uses ESG and social media sentiment data—features TradeStation does not include. Reflecting these differences, TradeStation is rated 2.5 stars and ranked #11 out of 14 for market research by StockBrokers.com, while Firstrade earns 4 stars and ranks #6.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| Research - Stocks | Yes | Yes |
| Screener - Stocks | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Screener - ETFs | Yes | Yes |
| Research - Mutual Funds | No | Yes |
| Screener - Mutual Funds | No | Yes |
| Research - Fixed Income | No | Yes |
| Screener - Fixed Income | No | Yes |
| Research |
|
|
Comparing TradeStation and Firstrade for banking features, Firstrade clearly offers more. Firstrade provides checking accounts, debit cards, and certificates of deposit (CDs), giving investors a way to handle everyday spending and earn fixed rates on savings. However, Firstrade does not offer savings accounts, credit cards, or mortgage loans. TradeStation does not provide checking accounts, savings accounts, debit cards, credit cards, mortgage loans, or CDs, making it a brokerage-only choice. If you want an online broker with basic banking options like a checking account, a debit card, and CDs, Firstrade is the better fit. If you’re fine keeping banking elsewhere and only need trading tools, TradeStation may still meet your needs.
| Feature |
TradeStation
|
Firstrade
|
|---|---|---|
| Checking Accounts | No | Yes |
| Savings Accounts | No | No |
| Debit Cards | No | Yes |
| Credit Cards | No | No |
| Mortgage Loans | No | No |
| Brokerage CDs | No | Yes |
Dive deeper: Best Brokerage Checking Accounts for 2026
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that TradeStation is better than Firstrade. TradeStation finished with an overall score of 68.4%, while Firstrade finished with a score of 67.8%.
TradeStation is a brokerage best known for its highly customizable trading platforms, advanced options and futures capabilities, and powerful tools designed for active and experienced traders.
In a head-to-head crypto trading comparison, neither TradeStation nor Firstrade supports cryptocurrency trading, and both offer 0 coins—so investors seeking digital asset access should consider other brokers.
Dive deeper: Best Online Brokers for Crypto Trading in 2026
Online brokers TradeStation and Firstrade both offer Traditional and Roth IRA accounts. TradeStation charges a $35 annual IRA fee and a $50 closure fee, while Firstrade charges $0 for both, making it the lower-cost choice.
Dive deeper: Best IRA Accounts for 2026
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0 of 5| Overall Rating | TradeStation | Firstrade | |
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| Review | TradeStation Review | Firstrade Review |
| Broker Screenshots | TradeStation | Firstrade | |
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| Trading Fees | TradeStation | Firstrade | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | $0.01 | $0.00 | |
| Mutual Fund Trade Fee | $14.95 | $0 | |
| Options (Per Contract) | $0.60 | $0.00 | |
| Futures (Per Contract) | $1.50 | (Not offered) | |
| Broker Assisted Trade Fee | $25 | $19.95 |
| Margin Rates | TradeStation | Firstrade | |
|---|---|---|---|
| Margin Rate Under $25,000 | 12.5% | 12.75% | |
| Margin Rate $25,000 to $49,999.99 | 12.5% | 12.50% | |
| Margin Rate $50,000 to $99,999.99 | 11.5% | 12.00% | |
| Margin Rate $100,000 to $249,999.99 | 11.5% | 11.50% | |
| Margin Rate $250,000 to $499,999.99 | 12.0% | 11.25% | |
| Margin Rate $500,000 to $999,999.99 | 7.5% | 9.35% | |
| Margin Rate Above $1,000,000 | 7.5% | 8.75% |
| Account Fees | TradeStation | Firstrade | |
|---|---|---|---|
| IRA Annual Fee | $35.00 | $0.00 | |
| IRA Closure Fee | $50.00 | $0.00 | |
| Account Transfer Out (Partial) | $125.00 | $55.00 | |
| Account Transfer Out (Full) | $125.00 | $75.00 | |
| Options Exercise Fee | $14.95 | $0.00 | |
| Options Assignment Fee | $5.95 | $0.00 |
| Investment Options | TradeStation | Firstrade | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Account Feature - Margin Trading | Yes | Yes | |
| Fractional Shares (Stocks) | No | Yes | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 4 | |
| Futures Trading | Yes | No | |
| Forex Trading | No | No | |
| Crypto Trading | No | No | |
| Crypto Trading - Total Coins | 0 | 0 | |
| Fixed Income (Treasurys) | No | Yes | |
| Fixed Income (Corporate Bonds) | No | Yes | |
| Fixed Income (Municipal Bonds) | No | Yes | |
| Traditional IRAs | Yes | Yes | |
| Roth IRAs | Yes | Yes | |
| Advisor Services | No | No | |
| International Countries (Stocks) | 0 | 0 |
| Order Types | TradeStation | Firstrade | |
|---|---|---|---|
| Order Type - Market | Yes | Yes | |
| Order Type - Limit | Yes | Yes | |
| Order Type - After Hours | Yes | Yes | |
| Order Type - Stop | Yes | Yes | |
| Order Type - Trailing Stop | Yes | Yes | |
| Order Type - OCO | Yes | Yes | |
| Order Type - OTO | Yes | Yes | |
| Order Type - Broker Assisted | Yes | Yes |
| Beginners | TradeStation | Firstrade | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | No | No | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | No | No | |
| Education (Fixed Income) | No | No | |
| Education (Retirement) | No | Yes | |
| Retirement Calculator | No | Yes | |
| Investor Dictionary | No | Yes | |
| Paper Trading | Yes | No | |
| Videos | Yes | Yes | |
| Webinars | Yes | Yes | |
| Progress Tracking | No | No | |
| Interactive Learning - Quizzes | No | No |
| Stock Trading Apps | TradeStation | Firstrade | |
|---|---|---|---|
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Apple Watch App | No | No | |
| Trading - Stocks | Yes | Yes | |
| Trading - After-Hours | Yes | Yes | |
| Trading - Simple Options | Yes | Yes | |
| Trading - Complex Options | Yes | Yes | |
| Order Ticket RT Quotes | Yes | Yes | |
| Order Ticket SRT Quotes | Yes | Yes |
| Stock App Features | TradeStation | Firstrade | |
|---|---|---|---|
| Mobile Research - Market Movers | Yes | Yes | |
| Stream Live TV | No | No | |
| Videos on Demand | No | No | |
| Stock Alerts | Yes | Yes | |
| Option Chains Viewable | Yes | Yes | |
| Watchlist (Real-time) | Yes | Yes | |
| Watchlist (Streaming) | Yes | Yes | |
| Mobile Watchlists - Create & Manage | Yes | Yes | |
| Mobile Watchlists - Column Customization | Yes | Yes |
| Stock App Charting | TradeStation | Firstrade | |
|---|---|---|---|
| Charting - After-Hours | Yes | No | |
| Charting - Can Turn Horizontally | No | Yes | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 45 | 81 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | No | Yes |
| Trading Platforms | TradeStation | Firstrade | |
|---|---|---|---|
| Active Trading Platform | TradeStation 10 | N/A | |
| Desktop Trading Platform | Yes | No | |
| Desktop Platform (Mac) | Yes | No | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | Yes | No | |
| Trade Journal | No | No | |
| Watchlists - Total Fields | 341 | 50 |
| Stock Chart Features | TradeStation | Firstrade | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | No | |
| Charting - Indicators / Studies | 294 | 102 | |
| Charting - Drawing Tools | 45 | 8 | |
| Charting - Notes | Yes | No | |
| Charting - Historical Trades | Yes | No | |
| Charting - Corporate Events | Yes | No | |
| Charting - Custom Date Range | Yes | No | |
| Charting - Custom Time Bars | Yes | No | |
| Charting - Automated Analysis | Yes | Yes | |
| Charting - Save Profiles | Yes | No | |
| Trade Ideas - Technical Analysis | Yes | Yes | |
| Charting - Study Customizations | 12 | 6 | |
| Charting - Custom Studies | Yes | No |
| Day Trading | TradeStation | Firstrade | |
|---|---|---|---|
| Streaming Time & Sales | Yes | No | |
| Streaming TV | No | No | |
| Direct Market Routing - Equities | Yes | No | |
| Ladder Trading | Yes | No | |
| Trade Hot Keys | Yes | No | |
| Level 2 Quotes - Stocks | Yes | No | |
| Trade Ideas - Backtesting | Yes | No | |
| Trade Ideas - Backtesting Adv | Yes | No | |
| Short Locator | Yes | No | |
| Order Liquidity Rebates | Yes | No |
| Research Overview | TradeStation | Firstrade | |
|---|---|---|---|
| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | No | Yes | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Fixed Income | No | Yes | |
| Screener - Stocks | Yes | Yes | |
| Screener - ETFs | Yes | Yes | |
| Screener - Mutual Funds | No | Yes | |
| Screener - Fixed Income | No | Yes | |
| Portfolio Asset Allocation | Yes | Yes |
| Stock Research | TradeStation | Firstrade | |
|---|---|---|---|
| Stock Research - PDF Reports | 0 | 1 | |
| Stock Research - Earnings | Yes | Yes | |
| Stock Research - Insiders | No | Yes | |
| Stock Research - Social | No | Yes | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | No | Yes | |
| Stock Research - SEC Filings | No | Yes |
| ETF Research | TradeStation | Firstrade | |
|---|---|---|---|
| ETFs - Investment Objective | No | Yes | |
| ETF Fund Facts - Inception Date | No | Yes | |
| ETF Fund Facts - Expense Ratio | No | Yes | |
| ETF Fund Facts - Total Assets | No | Yes | |
| ETF Fund Facts - Total Holdings | No | Yes | |
| ETFs - Top 10 Holdings | No | Yes | |
| ETFs - Sector Exposure | No | Yes | |
| ETFs - Risk Analysis | No | Yes | |
| ETFs - Ratings | No | Yes | |
| ETFs - Morningstar StyleMap | No | Yes | |
| ETFs - PDF Reports | No | Yes |
| Mutual Fund Research | TradeStation | Firstrade | |
|---|---|---|---|
| Mutual Funds - Investment Objective | No | Yes | |
| Mutual Funds - Performance Chart | No | Yes | |
| Mutual Funds - Performance Analysis | No | Yes | |
| Mutual Funds - Prospectus | No | Yes | |
| Mutual Funds - 3rd Party Ratings | Yes | Yes | |
| Mutual Funds - Fees Breakdown | No | Yes | |
| Mutual Funds - Top 10 Holdings | No | Yes | |
| Mutual Funds - Asset Allocation | No | Yes | |
| Mutual Funds - Sector Allocation | No | Yes | |
| Mutual Funds - Country Allocation | No | Yes | |
| Mutual Funds - StyleMap | No | Yes |
| Options Trading | TradeStation | Firstrade | |
|---|---|---|---|
| Option Chains - Total Greeks | 5 | 5 | |
| Option Analysis - P&L Charts | Yes | Yes |
| Banking | TradeStation | Firstrade | |
|---|---|---|---|
| Bank (Member FDIC) | No | No | |
| Checking Accounts | No | Yes | |
| Savings Accounts | No | No | |
| Credit Cards | No | No | |
| Debit Cards | No | Yes | |
| Mortgage Loans | No | No |
| Customer Service | TradeStation | Firstrade | |
|---|---|---|---|
| Phone Support (Prospective Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | Yes | Yes | |
| Live Chat (Prospective Customers) | Yes | Yes | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | No | No |
| Overall | TradeStation | Firstrade | |
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| Winner | check_circle | ||
| Review | TradeStation Review | Firstrade Review |
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