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Interactive Brokers vs Firstrade (2025)
Compare Firstrade versus IBKR Lite/Pro—which is better? (Roth) IRA accounts, online investing fees, stock broker mutual fund rates, and differences comparison.
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Interactive Brokers vs Firstrade Overview
Should you pick Firstrade or Interactive Brokers (IBKR)? Firstrade has the lowest overall cost
schedule, while Interactive Brokers shines with its software and advanced trading
strategies.
Cost Comparison
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
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Firstrade
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$0
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$0
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$0 per contract
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$0
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$0
|
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IB
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$0
|
$14.95
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$0.70 per contract
|
$0
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$30
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Services Comparison
| Broker Review |
Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
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Firstrade
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IB
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Promotions
Firstrade: Up to $250 in ACAT fee rebate at Firstrade.
Interactive Brokers: Use this referral link to get up to $1,000 of IBKR stock for free!
Firstrade Pros and Cons
Highlights Firstrade users will appreciate include:
- No per-contract fees on options
- A great selection of mutual funds
- Free research from Morningstar
Its downsides include:
- Weak software
- Limited tradable assets
Interactive Brokers Pros and Cons
IB’s advantages include:
- Several software platforms, some at a professional level
- Large range of tradable securities
- Many advanced trading tools (explained further below)
IB’s negatives are:
- Software can be complex to master
- Per-contract fees on options
Below is how each broker measures up in key investing categories:
Available Products
Firstrade clients can trade:
- ETFs
- Mutual and closed-end funds
- Options
- Stocks
- Fixed-income securities
- IPOs
The broker also supports penny and over-the-counter stocks.
Interactive Brokers offers all of the above plus:
- Structured products
- Futures
- Currencies
- Precious metals (like silver and gold)
- Warrants
- Contracts for difference
- Cryptocurrencies
IB also has a large international trading program covering many foreign markets. Firstrade does not provide any global investing service.
Winner: Interactive Brokers
Research and Education
The Interactive Brokers website is a good starting point for learning investing basics. Click on the Education link at the top for:
- Self-directed courses on different subjects
- Live and archived webinars
- A blog
- Glossary
- In-person events in Europe and Canada
IB’s platforms include screeners and security details. We especially like the free trade ideas from third parties like Morgan Stanley and Deutsche Bank. There’s also data on dividend payouts, ESG scores, and relevant news.
Firstrade attempts to match IB with its own Education link, but it doesn’t have as much content. The articles are fairly short, and we didn’t see any webinars or live events.
Research comes from Morningstar, which is thorough yet offers just one analyst’s perspective. On a positive note, Firstrade’s screeners are user-friendly.
Winner: Interactive Brokers
Website Trading
Firstrade’s site is simple, though a trade bar boosts its functionality. This bar can handle orders for stocks, options, ETFs, and closed-end funds. It also does some basic research if you prefer not to navigate the rest of the site. Charts on Firstrade’s site can use Morningstar or TradingView software.
Interactive Brokers provides multiple web-based systems. First is the client portal, which has many powerful tools, such as:
- Basic charts
- Varied research tools
- Advanced order ticket with six order types
- iBot, a digital assistant
IBKR Pro members (but not Lite) can also use Web Trader, a browser-based system. Though its charts are basic, it supports multi-asset trading with direct-access routing.
Winner: Interactive Brokers
Desktop Software
IB users who don’t want a browser-based system can turn to Trader Workstation, the firm’s desktop platform. Offered free to both Pro and Lite customers, this pro-level system has many tools. Standouts include:
- Access to worldwide markets
- Margin stats for any ticker you enter
- Advanced charting
- iBot, once again
Firstrade does not have a desktop system.
Winner: Interactive Brokers
Mobile Apps
For traders who can’t use a PC or Mac, both brokers in this showdown supply smartphone apps. Interactive Brokers’ app also runs on tablets and Apple Watch.
IB’s mobile highlights are:
- Landscape charts with lots of tools, including Bollinger Bands
- Wheel order ticket in landscape mode
- Standard order ticket in portrait mode
- Alerts
- Security screeners
- Multi-leg option trades
- A demo mode
Firstrade’s app does not offer a demo mode but does include landscape charts with technical indicators. It lacks screeners, alerts, multi-leg option capabilities, and a wheel ticket method.
Winner: Interactive Brokers
Day Trading & Swing Trading
Margin: Interactive Brokers has very low margin rates, and its desktop platform shows margin data for hypothetical orders. Firstrade’s systems don’t provide this.
Shorting: Only IB has an online short location tool.
Extended hours: Both brokerages support extended-hours sessions. IB offers more time.
Level 2 quotes: Firstrade doesn’t give these quotes, but IB does.
Direct-access routing: IB provides this; Firstrade does not.
Routing fees and rebates: Same story.
Winner: Interactive Brokers
Miscellaneous Services
Dividend reinvestment program: Both brokers have DRIP, though IB only allows you to toggle your entire account on or off.
IRAs: Both support IRAs, but only Firstrade has SIMPLE IRAs.
Automatic mutual fund investing: Firstrade offers it, while Interactive Brokers does not.
Whole-dollar investing: IB provides fractional shares, but Firstrade does not.
Winner: Firstrade
Recommendations
Long-term investors and retirement savers: Firstrade wins here with a bigger range of target-date mutual funds.
Beginners: Interactive Brokers has more learning resources, while Firstrade’s platform is simpler. Call it a tie.
Stock/ETF trading: Interactive Brokers, hands down.
Small accounts: Try Firstrade or IBKR Lite.
Options trading: Firstrade includes OptionsPlay, a decent tool. IB has many pro-level options features on Trader Workstation, which we recommend.
Promotions
Firstrade: Up to $250 in ACAT fee rebate at Firstrade.
Interactive Brokers: Use this referral link to get up to $1,000 of IBKR stock for free!
Firstrade vs Interactive Brokers Results
While Firstrade offers a very appealing commission schedule, it lacks some key features. However, mutual fund traders will find it a good choice.
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Updated on 8/26/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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