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eToroFirstrade Review
Written by Jessica Inskip
Edited by Jeff Anberg
Reviewed by Blain Reinkensmeyer
Jessica InskipJessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. Jessica focuses on investor education and brokerage industry research.
Firstrade isn’t a household name among brokerage firms, but that could be changing. I have noticed that its platform has been quietly leveling up, adding fractional shares, mutual funds, and fixed-income offerings, which are standard among industry giants but not always available at smaller brokers. Unlike some discount brokers that rely on a "there’s a fund for that" approach, Firstrade now delivers a full-service range of investments.
The real standout is its options trading. Firstrade has rolled out an impressive set of tools and resources designed to integrate single-leg options or income strategies into longer-term portfolios easily. With steady innovation and a growing feature set, Firstrade is quickly climbing the ranks to earn its place among the best online brokers.
-
Minimum Deposit:
$0.00 -
Stock Trades:
$0.00 -
Options (Per Contract):
$0.00
| Range of Investments | |
| Mobile Trading Apps | |
| Platforms & Tools | |
| Research | |
| Education | |
| Ease of Use | |
| Customer Service |
Check out StockBrokers.com's picks for the best stock brokers in 2025.
| 2025 | #7 |
| 2024 | #6 |
| 2023 | #7 |
| 2022 | #7 |
| 2021 | #7 |
| 2020 | #9 |
| 2019 | #8 |
| 2018 | #9 |
| 2017 | #11 |
| 2016 | #9 |
| 2015 | #11 |
| 2014 | #12 |
| 2013 | #11 |
| 2012 | #16 |
| 2011 | #10 |
Table of Contents
Pros & cons
Pros
- Strong options tools with Greeks and real-time pricing.
- Offers fractional shares, funds, and fixed income.
- Innovative research tools.
Cons
- Lacks portfolio tracking and macro-level insights
- Navigation is clunky; key tools are hard to find
- Limited big-picture analysis and expert commentary
Here are my top takeaways for Firstrade in 2025:
- Options traders take note: Firstrade’s $0 contract fee, no exercise/assignment fees, and top-tier options trade ticket make it one of the most cost-effective and well-designed platforms for options trading. Firstrade's options education is among the best in the industry.
- Full-service brokerage – but with gaps: Firstrade provides stocks, ETFs, mutual funds, fixed income, and fractional shares, but it doesn’t offer futures, forex, crypto, or business accounts. Research and education are strong in stocks and options but less developed in funds and fixed income.
- Innovation is there, but execution varies: Firstrade is pushing boundaries with tools like the Discover feature, AI-powered FirstradeGPT, and a well-designed economic calendar. However, portfolio tracking, fixed income research, and overall navigation could use some refinements.
Range of investments
Firstrade covers more ground than many smaller brokers when it comes to both investment options and account types. From a taxable account perspective, whether you're opening an individual or joint account, setting up a custodial account for a child, or managing assets in a trust, there’s a solid lineup to choose from.
Firstrade provides a full suite of investment vehicles, including stocks, ETFs, mutual funds, fixed income, and options. One unique differentiator is its fully translated Mandarin-language platform, a feature few other firms offer. However, it does not support advisor services, crypto, forex, futures, international trading, or business brokerage accounts.
For those looking for tax-deferred or retirement accounts, Firstrade offers plenty of flexibility, with traditional, Roth, rollover, SEP, and SIMPLE IRAs. There are even IRA options for minors, which isn’t something every brokerage firm provides.
| Feature |
 Firstrade
|
|---|---|
| Stock Trading | Yes |
| Account Feature - Margin Trading | Yes |
| Fractional Shares (Stocks) | Yes |
| OTC Stocks | Yes |
| Options Trading | Yes |
| Complex Options Max Legs | 4 |
| Fixed Income (Treasurys) | Yes |
| Futures Trading | No |
| Forex Trading | No |
| Crypto Trading | No |
| Crypto Trading - Total Coins | 0 |
| Traditional IRAs | Yes |
| Roth IRAs | Yes |
| Advisor Services | No |
Firstrade fees
Like most brokers today, Firstrade offers $0 commissions on stocks and ETFs, keeping it competitive with industry standards. But as an avid options trader myself, what I find really exciting is its options pricing. There’s no per-contract fee, and even better, no exercise or assignment fees. As someone who has reviewed plenty of broker pricing models, this is a rare find and a huge win for options traders looking to keep costs low.
Fixed income pricing
Fixed income pricing works a little differently. Firstrade acts as a principal rather than an agent, which directly impacts how bond trades are executed and priced.
As a principal, Firstrade buys bonds and other fixed-income securities for its own inventory before selling them to investors at a marked-up price. This is known as pricing on a net yield basis because the cost is built into the yield rather than charged as a separate commission. On the other hand, brokers acting as an agent don’t hold an internal inventory; they simply facilitate transactions between buyers and sellers, typically charging an explicit commission or markup for the service.
For investors, this means Firstrade won’t list a direct commission on your trade confirmation, but the cost is baked into the yield you receive. If you’re actively investing in fixed income, understanding this pricing structure is key to comparing costs across brokers.
| Feature |
Firstrade
|
|---|---|
| Minimum Deposit | $0.00 |
| Stock Trades | $0.00 |
| Penny Stock Fees (OTC) | $0.00 |
| Options (Per Contract) | $0.00 |
| Options Exercise Fee | $0.00 |
| Options Assignment Fee | $0.00 |
| Futures (Per Contract) | (Not offered) |
| Mutual Fund Trade Fee | $0 |
| Broker Assisted Trade Fee | $19.95 |
Mobile trading apps
Options traders, take note — Firstrade’s mobile app delivers an experience that rivals even platforms built specifically for options trading, like tastytrade. Packing advanced options tools into a mobile app without sacrificing usability is no easy feat, but Firstrade pulls it off and made it onto my list of the best options trading apps.
Firstrade’s mobile app features one of the most impressive options chains available, shown here with NVDA contracts. You can easily scroll through strike prices while viewing key data like the Greeks, making it incredibly user-friendly for active options traders. Built with direct input from real traders, the app even includes a full order flow experience that goes beyond what’s pictured here.
Stock trading: Stock trading, on the other hand, is simplified and easy to use. Quotes are visually well-designed, and I appreciated how market events were integrated into the interface. Watchlists sync across both web and mobile, though customization is limited.
AI innovations: Firstrade is also pushing into AI stock trading with FirstradeGPT, an AI-powered tool that could be a game-changer. While testing, I encountered some timeouts and performance issues, but that’s expected with a beta release.
Lack of integrated education: One clear gap is the lack of integrated education within the mobile experience. Unlike some competitors, Firstrade doesn’t provide learning tools directly in the app, which would be a valuable addition for investors looking to build knowledge on the go.
That said, for active traders, especially options traders, Firstrade’s mobile experience is one of the strongest I’ve tested. It proves that advanced tools don’t have to be sacrificed for portability. For anyone looking to trade options from their phone, this app delivers.
Jessica's take
"While testing Firstrade's options capabilities, I could see all of the greeks while I seamlessly built multi-leg trades, and the stock’s price remained sticky at the top as I structured my position – a small but critical detail. It’s clear that experienced options traders had a hand in designing the trade ticket."
| Feature |
Firstrade
|
|---|---|
| iPhone App | Yes |
| Android App | Yes |
| Apple Watch App | No |
| Stock Alerts | Yes |
| Charting - After-Hours | No |
| Charting - Technical Studies | 81 |
| Charting - Study Customizations | Yes |
| Watch List (Streaming) | Yes |
| Watch Lists - Create & Manage | Yes |
| Watch Lists - Column Customization | Yes |
Trading platforms
Firstrade offers a solid selection of platform tools, though the experience leans more toward long-term investors rather than active traders.
Symbol watchlist: One of the features I found particularly useful was the watchlist, which doubles as a great hybrid tool for paper trading. I could add a symbol and track its price over time as if I had purchased it which is an excellent way to test strategies before committing real money. However, I couldn’t add a date or notes to track why I was watching a particular stock, which would make the feature even better.
Tax features: From a tax perspective, Firstrade makes reporting easier by clearly displaying wash sales and disallowed losses, along with a convenient export feature to Quicken, Excel, and other third-party platforms. These small but impactful details can save investors a lot of time when managing their accounts.
Firstrade’s Credit Spread Report, powered by OptionsPlay, delivers curated options trade ideas with all the key data traders need to make smart strategy decisions. Ideas are sorted by premium percentage and include relevant metrics like strike selection, risk/reward, and probability of profit.
No desktop platform: One major gap is the lack of a downloadable active trading platform. While the web and mobile platforms offer a smooth experience, active traders looking for advanced execution tools or real-time charting won’t find them here. Firstrade seems more focused on delivering a streamlined experience rather than catering to high-frequency traders who desire advanced desktop platforms.
| Feature |
Firstrade
|
|---|---|
| Active Trading Platform | N/A |
| Desktop Trading Platform | No |
| Desktop Platform (Mac) | No |
| Web Trading Platform | Yes |
| Paper Trading | No |
| Trade Journal | No |
| Watch Lists - Total Fields | 50 |
| Charting - Indicators / Studies | 102 |
| Charting - Drawing Tools | 8 |
| Charting - Study Customizations | 6 |
| Charting - Save Profiles | No |
| Trade Ideas - Technical Analysis | Yes |
| Streaming Time & Sales | No |
| Trade Ideas - Backtesting | No |
Research
Firstrade provides a solid research experience with a variety of easy-to-use tools for analyzing individual securities and the broader markets.
Market analysis: When researching stocks, I found tools that offer a good balance between technical and fundamental analysis. I appreciated the extra value I found. For example, the security profile overview that appears when you enter a stock quote presents all the standard data, such as equity style, sector, industry classification, quote data, and dividend information, but takes things a step further by having streamlined integration with Morningstar.
I can quickly see whether a stock is trading at a premium or undervalued, view validation through analyst commentary, and even dive deeper into earnings multiples and free cash flows. Layering on the technical lens, Recognia-powered technical analysis further enhances stock research with automated chart pattern recognition and key technical insights.
Options strategies: Options traders, you benefit from OptionsPlay integration, which provides screening tools with trade ideas that can be compared and contrasted, whether or not you already have a stock in mind. Additionally, Firstrade offers multiple OptionsPlay-powered screeners to help generate and refine options trading strategies. This means that there are tools to help you find ideas, validate them, and compare or contrast them with other strategies.
Powerful economic calendar: One tool that really impressed me was the economic calendar, which allows investors to drill down into past events, expectations, and actual results, and then analyze them against relative currency movements, something I haven’t seen offered at other brokerage firms. If I could also compare event-driven price reactions against the S&P 500, this would be an even more powerful research tool that I would likely use often in my own trading.
Firstrade’s economic calendar goes beyond listing events, it adds valuable analysis by showing how past releases have impacted market movements, particularly in currencies. It’s a detailed, data-driven tool that helps investors understand not just what’s happening, but why it matters. A great resource for those who want to connect economic trends with price action.
| Feature |
Firstrade
|
|---|---|
| Research - Stocks | Yes |
| Stock Research - ESG | Yes |
| Stock Research - PDF Reports | 1 |
| Screener - Stocks | Yes |
| Research - ETFs | Yes |
| Screener - ETFs | Yes |
| Research - Mutual Funds | Yes |
| Screener - Mutual Funds | Yes |
| Research - Pink Sheets / OTCBB | Yes |
| Research - Fixed Income | Yes |
Education
Firstrade does an excellent job with options and stock education, making it a great choice for investors looking to strengthen their knowledge in those areas. Expanding educational content for funds, fixed income, and general investing strategies would make it an even better resource for self-directed investors. Nonetheless, the platform provides well-structured, easy-to-understand content that caters to self-directed investors looking to expand their knowledge.
Options education: Firstrade's options education is easily one of the best I’ve seen. It goes beyond just covering the basics — there’s a full library of beginner resources, strategy-specific breakdowns, FAQs, and interactive tools to help traders get started and refine their approach. Firstrade delivers an impressive depth of content that caters to both beginners and advanced traders.
Stock education: Stock education is nearly as strong, with some of the best beginner-friendly material I’ve come across. The "What is a Stock?" article stood out for its clear explanation of supply and demand, why investors trade stocks, and the associated risks. Firstrade also integrates video tutorials that walk investors through placing trades and understanding order types, making it easy for visual learners to grasp key concepts while also bridging education into application.
Firstrade’s ETF Guide is a polished, beginner-friendly resource that walks investors through the essentials of exchange-traded funds. With well-produced videos and clear explanations, including the history of ETFs as an innovation born from mutual funds.
Webinars: One noticeable gap is in webinars, which are heavily focused on options trading. While the depth here is great, I would have liked to see similar resources available for stocks, ETFs, and broader investing strategies.
| Feature |
Firstrade
|
|---|---|
| Education (Stocks) | Yes |
| Education (ETFs) | No |
| Education (Options) | Yes |
| Education (Mutual Funds) | No |
| Education (Fixed Income) | No |
| Education (Retirement) | Yes |
| Paper Trading | No |
| Videos | Yes |
| Webinars | Yes |
| Progress Tracking | No |
| Interactive Learning - Quizzes | No |
Customer service
To score Customer Service, StockBrokers.com partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States. For this year's testing, 130 customer service tests were conducted over six weeks, with wait times logged for each call.
Customer service representatives were asked for assistance or details in several areas of broker services for prospective customers, including account opening, trading tools, apps, rollovers, active trading, and more. Here are the results for Firstrade.
- Average Connection Time: Under a minute
- Average Net Promoter Score: 7.0 / 10
- Average Professionalism Score: 6.4 / 10
- Overall Score: 7.25 / 10
- Ranking: 11th of 13 brokers
Final thoughts
Firstrade has quietly built a competitive brokerage platform, offering a strong mix of low-cost trading, innovative tools, and in-depth education. It excels in key areas that make it a serious contender for self-directed investors.
For self-directed investors, especially those focused on options, Firstrade is a hidden gem. If it continues refining its research tools and expanding its product offerings, it could soon be competing near the top of the list of the best stock brokers we rate.
Firstrade's Star Ratings
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Firstrade
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|---|---|
| Overall |
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| Range of Investments |
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| Mobile Trading Apps |
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| Platforms & Tools |
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| Research |
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| Customer Service |
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| Education |
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| Ease of Use |
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StockBrokers.com Review Methodology
Why you should trust us
Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses. Jessica focuses on investor education and brokerage industry research, appears regularly on CNBC, Bloomberg, The Schwab Network, Fox Business, and Yahoo! Finance, and hosts the Market MakeHer podcast.
Blain Reinkensmeyer, co-founder of StockBrokers.com, has been investing and trading for over 25 years. After having placed over 2,000 trades in his late teens and early 20s, he became one of the first in digital media to review online brokerages. Today, Blain is widely respected as a leading expert on finance and investing, specifically the U.S. online brokerage industry. Blain has been quoted in The New York Times, The Wall Street Journal, Forbes, and Fast Company, among others. Blain created the original scoring rubrics for StockBrokers.com and oversees all testing and rating methodologies.
How we tested
- We used our own brokerage accounts for testing.
- We collected thousands of data points across the brokers we review.
- We tested each online broker's website, desktop platforms, and mobile app, where applicable.
- We maintained strict editorial independence; brokers cannot pay for inclusion or a higher rating.
Our research team meticulously collected data on every feature of importance to a wide range of customer profiles, including beginners, casual investors, passive investors, and active traders. We carefully track variables like margin rates, trading costs, fees, and platform features and use them to help rate brokers across a range of categories measuring ease of use, range of investments, research, education, and more.
At StockBrokers.com, our reviewers use a variety of computing devices to evaluate platforms and tools. Our reviews and data collection were conducted using the following devices: iPhone SE running iOS 17.5.1, MacBook Pro M1 with 8 GB RAM running the current MacOS, and a Dell Vostro 5402 laptop i5 with 8 GB RAM running Windows 11 Pro.
Each broker was evaluated and scored on over 200 different variables across seven key categories: Range of Investments, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall. Learn more about how we test.
Trading platforms tested in 2025
We tested 16 online trading platforms in 2025:
- Ally Invest review
- Charles Schwab review
- eToro review
- E*TRADE review
- Fidelity Investments review
- Firstrade review
- Interactive Brokers review
- J.P. Morgan Self-Directed Investing review
- Merrill Edge review
- Public.com review
- Robinhood review
- SoFi Invest® review
- tastytrade review
- TradeStation review
- Tradier
- Webull review
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About Firstrade
Founded in 1985, Flushing, New York-based Firstrade began as a deep-discount online broker offering $0 stock, ETF, mutual fund, and options trades and is now growing into a competitive full-service brokerage. Firstrade is continuing to innovate by embracing AI tools and rolling out powerful research suites like its economic calendar.
About the Editorial Team
Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses. Jessica focuses on investor education and brokerage industry research, appears regularly on CNBC, Fox Business, and Bloomberg, and hosts the Market MakeHer podcast.
Jeff Anberg is a Senior Editor at StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.