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Firstrade vs TradeStation 2022

Is Firstrade better than TradeStation? After testing 15 of the best online brokers over six months, Firstrade (77.79%) is better than TradeStation (73.22%). Firstrade scored well in our 2022 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.

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Overall Rating expand_moreexpand_less Firstrade TradeStation
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar_border starstarstarstarstar_border
Platforms & Tools starstarstar_borderstar_borderstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Customer Service starstarstarstar_borderstar_border starstarstar_borderstar_borderstar_border
Education starstarstarstar_borderstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
Winner check_circle
Review Firstrade Review TradeStation Review
Trading Fees expand_moreexpand_less Firstrade TradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Mutual Fund Trade Fee $0.00 $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.00 $0.00
Futures (Per Contract) N/A $1.50
Broker Assisted Trade Fee $19.95 $0.00
Margin Rates expand_moreexpand_less Firstrade TradeStation
Margin Rate Under $24,999.99 8.75% 9.50%
Margin Rate $25,000.00 to $49,999.99 8.25% 9.50%
Margin Rate $50,000.00 to $99,999.99 7.75% 8.75%
Margin Rate $100,000.00 to $249,999.99 7.25% 8.75%
Margin Rate $250,000.00 to $499,999.99 7.00% 8.75%
Margin Rate $500,000.00 to $999,999.99 5.10% 5.50%
Margin Rate Above $1,000,000.00 4.50% 5.50%
Account Fees expand_moreexpand_less Firstrade TradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $50.00
Account Transfer Out (Partial) $55.00 $125.00
Account Transfer Out (Full) $75.00 $125.00
Options Exercise Fee 0.00 14.95
Options Assignment Fee 0.00 5.95
Investment Options expand_moreexpand_less Firstrade TradeStation
Stock Trading Yes Yes
Fractional Shares No No
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No Yes
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 4
Mutual Funds (No Load) 13777 887
Mutual Funds (Total) 19027 4357
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services No No
International Countries (Stocks) 0 0
Order Types expand_moreexpand_less Firstrade TradeStation
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 expand_moreexpand_less Firstrade TradeStation
Education (Stocks) Yes Yes
Education (ETFs) No No
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) No No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes No
Paper Trading No Yes
Videos Yes Yes
Webinars (Archived) Yes No
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading Apps expand_moreexpand_less Firstrade TradeStation
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App No Yes
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 expand_moreexpand_less Firstrade TradeStation
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts No Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 47 335
Stock App Charting expand_moreexpand_less Firstrade TradeStation
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 81 45
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons No No
Trading Platforms expand_moreexpand_less Firstrade TradeStation
Desktop Trading Platform No Yes
Web Trading Platform Yes Yes
Paper Trading No Yes
Trade Journal No No
Watch Lists - Total Fields 47 335
Stock Chart Features expand_moreexpand_less Firstrade TradeStation
Charting - Adjust Trades on Chart No Yes
Charting - Indicators / Studies 102 290
Charting - Drawing Tools 8 23
Charting - Notes No Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades No Yes
Charting - Corporate Events Yes No
Charting - Custom Date Range No Yes
Charting - Custom Time Bars No Yes
Charting - Automated Analysis No No
Charting - Save Profiles No Yes
Trade Ideas - Technical Analysis No Yes
Charting - Study Customizations 6 12
Charting - Custom Studies No Yes
Day Trading expand_moreexpand_less Firstrade TradeStation
Streaming Time & Sales No Yes
Streaming TV No No
Direct Market Routing - Stocks No Yes
Ladder Trading No Yes
Trade Hot Keys No Yes
Level 2 Quotes - Stocks No Yes
Trade Ideas - Backtesting No Yes
Trade Ideas - Backtesting Adv No Yes
Short Locator No Yes
Order Liquidity Rebates No Yes
Research Overview expand_moreexpand_less Firstrade TradeStation
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes Yes
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock Research expand_moreexpand_less Firstrade TradeStation
Stock Research - PDF Reports 1 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social No No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF Research expand_moreexpand_less Firstrade TradeStation
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes No
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund Research expand_moreexpand_less Firstrade TradeStation
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options Trading expand_moreexpand_less Firstrade TradeStation
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming No Yes
Option Chains - Total Columns 8 32
Option Chains - Greeks 5 5
Option Chains - Quick Analysis No Yes
Option Analysis - P&L Charts No Yes
Option Probability Analysis No Yes
Option Probability Analysis Adv No Yes
Option Positions - Greeks No Yes
Option Positions - Greeks Streaming No Yes
Option Positions - Adv Analysis No Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping No Yes
Banking expand_moreexpand_less Firstrade TradeStation
Bank (Member FDIC) No No
Checking Accounts Yes No
Savings Accounts No No
Credit Cards No No
Debit Cards Yes No
Mortgage Loans No No
Customer Service expand_moreexpand_less Firstrade TradeStation
Phone Support (Prospect Customers) Yes No
Phone Support (Current Customers) Yes No
Email Support Yes Yes
Live Chat (Prospect Customers) Yes No
Live Chat (Current Customers) Yes Yes
24/7 Support No No
Overall expand_moreexpand_less Firstrade TradeStation
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar_border starstarstarstarstar_border
Platforms & Tools starstarstar_borderstar_borderstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Education starstarstarstar_borderstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
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Firstrade vs TradeStation Comparison

Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 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).

What about Firstrade vs TradeStation pricing?

Firstrade and TradeStation charge the same amount for regular stock trades, $0.00. Firstrade and TradeStation both charge $0.00 per option contract. 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, OTCBB / Pink Sheets and Mutual Funds, while TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, 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 TradeStation 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 2022 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?

As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.

Firstrade vs TradeStation Winner

Overall winner: Firstrade

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