Firstrade vs. Robinhood: Which Broker Is Right for You?
Review
Updated
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Robinhood came as a shock to the system for many in the brokerage industry. Offering low-cost trading and a streamlined platform, the broker became an overnight success. But Robinhood's time as the new kid on the block may be coming to an end. Brokers, including Firstrade, have replicated Robinhood's fee structure and included extra features. In our Firstrade vs. Robinhood review, we'll see how the two brokers compare.
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Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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= Fair = Poor |
Rating
Rating image, 3.5 out of 5 stars.
3.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
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Commissions |
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Robinhood may have invented the commission-free model, but it isn't the only broker offering it anymore. For most investors, the fees charged by Firstrade vs. Robinhood are a wash. Those seeking no commissions and low account fees may want to consider both of these brokers.
Firstrade has successfully co-opted the low-fee model. Like many in the brokerage industry, Firstrade offers zero-commission trading of stocks and ETFs. Firstrade stands out when it comes to fees charged on other investments. While the average broker charges around $0.65 per contract on option trades, Firstrade ditches the fee altogether. Additionally, Firstrade's $0 fee on mutual funds beats the typical rates we see that are over $20. When it comes to a low-fee model, Firstrade walks the walk.
Robinhood pioneered the commission-free fee structure. With $0 fees on stock and ETF trades, it quickly became one of the best ETF brokers. Similarly, Robinhood is one of the best options trading platforms because it charges no commissions on option trades. This broker continues to push the envelope, and Robinhood is one of the few brokers to offer cryptocurrencies without a fee. It remains a low-cost option for most investors, even as other brokers shed their fees.
LEARN MORE: Best Options Trading Platforms
| Firstrade | Robinhood | |
|---|---|---|
| Stock & ETF commissions | $0 | $0 |
| Options commissions | $0 | $0 |
| Crypto commissions | N/A | $0 |
| Mutual fund commissions | $0 | N/A |
| Account transfer fee | $75 | $100 (outgoing transfer) |
| Account maintenance fee | $0 | $0; $5 monthly for Robinhood Gold |
The appeal of Firstrade vs. Robinhood depends on which investments you trade. Investors interested in the more traditional should consider Firstrade. It offers a variety of mutual funds, CDs, and bonds. Those with a higher risk tolerance might prefer Robinhood's crypto. Plus, Robinhood's fractional trading may appeal to investors with lower balances.
Firstrade offers investment options beyond the baseline of stocks and ETFs. Complemented by a suite of research reports and tools, Firstrade offers option trading to its users. Mutual fund investors will enjoy a variety of funds, including over 3,000 no-load options. Firstrade also offers CDs and bonds, which may be an important part of a well-diversified portfolio.
Robinhood offers commission-free stocks and ETFs, and they can be purchased as fractional shares. Robinhood also supports options trading. It is one of the few brokers that allow cryptocurrency trading.
Firstrade recently joined the growing list of brokers that, like Robinhood, offer fractional shares of stocks and ETFs. Fractional shares allow small investors to buy big names. Instead of buying a whole share of Amazon (AMZN) for over $3,000 for example, an investor could buy $5 worth.
| Firstrade | Robinhood | |
|---|---|---|
| Stocks and ETFs | Yes | Yes |
| Fractional shares | Yes | Yes |
| Options | Yes | Yes |
| Mutual funds | 11,000 (3,400 no-load) | No |
| CDs | Yes | No |
| Bonds | Yes | No |
| Futures | No | No |
| Crypto | No (sell only) | Yes |
| Currencies | No | No |
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2025.
| Broker | Best For | Commissions | Learn More |
|---|---|---|---|
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Managing your finances under one roof | $0 for stocks,¹ $0 for options contracts⁴ |
Learn More for SoFi Active Investing
On SoFi Active Investing's Secure Website. |
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Low mutual fund fees. | $0 per trade |
Learn More for J.P. Morgan Self-Directed Investing
On J.P. Morgan Self-Directed Investing's Secure Website. |
|
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Low fees on stocks, ETFs, crypto, and options | $0 for stocks, ETFs, and options |
Learn More for Robinhood
On Robinhood's Secure Website. |
For many investors, trading is only one piece of the puzzle. When considering things like retirement planning, not all accounts are created equal. Firstrade and Robinhood offer very different account types to users.
Firstrade offers many account types to users beyond the standard taxable option. Investors can save for retirement using a tax-advantaged traditional or Roth IRA. Firstrade offers custodial accounts including UTMAs and UGMAs for intergenerational saving. Margin accounts are also available to Firstrade users, but at high rates.
READ MORE: Best IRA Accounts
Robinhood offers users taxable brokerage accounts and traditional and Roth IRAs. Robinhood also offers a 1% match for IRA contributions, rising to a 3% match for Robinhood Gold subscribers. Robinhood users can fund a margin account. However, to get the most competitive rates, you'll need a Robinhood Gold subscription, which costs $5 monthly.
| Firstrade | Robinhood | |
|---|---|---|
| Taxable Brokerage | Yes | Yes |
| Joint Tenant | Yes | Yes |
| Margin | Yes | Yes |
| Robo-Advisor | No | No |
| Traditional IRA | Yes | Yes |
| Roth IRA | Yes | Yes |
| Other IRA | SEP IRA, SIMPLE IRA, rollover IRA | No |
| Custodial | UTMA/UGMA | No |
| Checking | Cash management account | Spending account |
| Savings | No | No |
| Credit Card | Yes | Yes |
Firstrade and Robinhood offer vastly different user experiences:
The better platform depends on your specific needs as an investor.
LEARN MORE: Best Online Stock Brokers for Beginners
Firstrade offers a number of trading platforms suitable for a wide range of investors. The basic platform is simple and easy to use, and it's a good fit for a passive investor. The Navigator offers an interface with customizable widgets, charts, and tools. The Options Wizard combines tools and research for derivative traders. Firstrade also has a highly rated app. The Firstrade suite offers a variety of interfaces to complement an investor's trading experience.
Robinhood is ranked as one of the best stock trading apps, thanks to its simplistic design. The Robinhood app offers limited features, including viewing your portfolio and placing trades. Its video game-like feel streamlines the trading experience and has earned it a wide following. Robinhood offers a desktop platform, which performs identically to the mobile app.
READ MORE: Best Free Stock Trading Apps
When comparing Firstrade and Robinhood, there is no clear answer to which is best. The better broker for you depends on a number of factors, such as how much you value research and tools and which investments you want to trade.
Firstrade is a fully featured broker with an extensive suite of options. Derivative traders should take special note of the OptionsPlay partnership. This pairing brings research offerings and unique tools to Firstrade users. Mutual fund investors will also be interested in the funds offered by Firstrade, all without commission fees. For investors interested in tax-advantaged accounts designed for self-employed people (like SEP IRAs and SIMPLE IRAs) or custodial accounts, Firstrade may be the better choice.
Robinhood offers a no-frills, accessible experience to its users. With zero-commission crypto trades, Robinhood should be on every crypto trader's list. Above all, Robinhood's appeal lies in its highly acclaimed mobile app.
On Robinhood's Secure Website.
2025 Award Winner
A top pick for beginners, Robinhood combines $0 commission trades, an easy-to-use app, and a rare retirement deposit match.
$0 for stocks, ETFs, and options
$0
On Robinhood's Secure Website.
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SoFi Disclosure:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Value Prop Disclosures
Promotion Disclosures
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
Investing is risky. Bonus offers subject to terms and conditions, visit robinhood.com/hoodweek for more information. Margin is not suitable for all investors. Robinhood Gold is offered through Robinhood Gold LLC and is a subscription offering services for a fee. Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.
J.P Morgan Disclosure
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
