Firstrade vs. Robinhood Overview
If you want a low-cost broker that is simple to use and includes many helpful services, Firstrade and Robinhood are both worth considering. These two brokers are among the lowest-cost firms in the industry, and both are widely used by investors.
This comparison reviews Firstrade and Robinhood to help you decide which broker is more likely to match your goals and expectations.
Firstrade and Robinhood both provide commission-free trading, a solid selection of investable securities, and cash management features that can make handling money easier. Still, Firstrade and Robinhood take different approaches to investing. Depending on the type of investing experience you want, one of these brokers may suit you better than the other.
Keep reading to find out which broker may be the stronger choice for your needs.
Services Comparison
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Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
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Robinhood
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Firstrade
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Cost Comparison
When it comes to fees, Firstrade and Robinhood are very close, although there are still several differences to understand.
Firstrade and Robinhood are low-cost brokers that do not charge commissions on stocks, ETFs, or options.
Robinhood also provides commission-free cryptocurrency trading. Neither broker charges for many account-related services, such as account closures, e-statements, assignments and exercise fees, etc.
Some additional fees do apply, however. For that reason, it makes sense to start with the costs you may encounter at both brokers.
At Robinhood, you will pay for the following:
ACATS (outgoing) = $100
Transfer to non-Robinhood debit card = up to 1.75% ($1 minimum and $150 maximum)
Domestic overnight check delivery & mail = $20
International mail = $50
Margin rate (with Gold membership) = 5% (after the initial $1000 in Gold membership margin is used up)
Gold membership = $5/month or $50/year
At Firstrade, you will pay the following:
ACATS (outgoing – full) = $75
ACATS (outgoing – partial) = $55
Wire transfers (domestic & foreign) = $25
Overnight check delivery = $50
Margin = 12% - 8% (depending on the amount of capital in the trading account)
Assets & Securities
Between the two brokers, Firstrade offers more traditional investment products than Robinhood. If you want to do more
than invest in stocks, ETFs, and options, Firstrade may be the better option.
Firstrade provides a large selection of OTC market securities (Pink Sheets), mutual funds, fixed-income products, and the same general lineup of stocks and ETFs that Robinhood offers.
If cryptocurrency trading is important to you, Robinhood is the only choice between these two brokers.
Account Types
When account types are compared, Firstrade has the clear advantage.
Robinhood offers individual accounts, joint investing accounts, and IRA account variants such as IRA
cash and IRA limited margin.
Firstrade provides several account types for a much wider range of customer needs.
In addition to standard brokerage accounts (i.e., individual cash & individual margin), Firstrade
also offers more IRA choices, international individual accounts, Coverdell ESA education savings accounts, and custodial accounts.
Both brokers provide cash management and debit-card features, but the services are structured differently.
Promotions
Robinhood:
3% deposit match and FREE stock worth up to $200 at Robinhood.
Firstrade: Currently, no promotions.
Platforms, Tools, Trading, & Resources
If you want a broker with a useful trading platform, helpful tools, and access to non-standard investments, both Firstrade and Robinhood have something to offer.
The better choice depends on your preference, because these brokers are quite different from each other.
Browser Trading Software
Firstrade’s website is the more advanced of the two. It includes features that allow investors to handle nearly
everything they are likely to need.
Robinhood’s browser-based trading platform closely resembles its mobile application.
Here is how the two platforms look:
Firstrade Browser Trading:
Robinhood Browser Trading:
Mobile Trading
The mobile trading experience at these two brokers shares many similarities with their browser-based platforms.
Firstrade has a mobile app that lets traders perform a wide range of investing tasks. You’ll also find more advanced order types and more detailed charting tools.
Robinhood’s mobile platform is built around simplicity and accessibility. The experience is streamlined for the company’s target audience. Charts are basic, information and news are arranged in convenient lists, and walkthroughs and explanations appear throughout the app.
Choosing a winner between Firstrade and Robinhood’s mobile platforms depends on what you want. For advanced order entry and management of more complex positions and asset classes, Firstrade comes out ahead. For ease of use and a simpler design, Robinhood is a bit better.
Screeners
If screeners are important to your investing process, Firstrade is the stronger choice.
Firstrade’s screener is separated into categories: stock, ETF, and mutual fund.
Each category includes many variables that can be used to narrow a search, predefined scans, and a section for saving scan criteria you like. Screener results at Firstrade are also dynamic, updating automatically as the market changes.
Robinhood offers some search functionality through thematic stock groupings, but you can’t customize your search the way you can with a traditional screener.
Watchlists
Creating watchlists at both brokers is simple and intuitive.
At Firstrade, you can have ten watchlists going at once. Each one can include up to 50 tickers.
At Robinhood, you can add securities to and remove them from your default watchlist. You can also create several additional watchlists.
Some parts of the Robinhood watchlist are dynamic and update based on your open positions. You can view cryptocurrencies, options contracts, and stocks.
Extended Hours Trading
Robinhood offers 24 Hour Market trading from 8 PM ET Sunday to 8 PM ET Friday, with some restrictions. Firstrade offers extended-hours trading from 8 AM to 8 PM ET and overnight trading from 8 PM to 4 AM ET, Sunday night through Friday morning, for eligible securities.
Research & Education
Firstrade and Robinhood take noticeably different approaches to research and education.
Both brokers provide a solid amount of educational material, but Robinhood appears to focus more on complete beginners. Its education section covers subjects like risk management, the difference between a put and a call, and “What is the Stock Market.” Traders can certainly go deeper into more advanced subjects, but they will need to sort through many articles explaining financial terms and basic concepts.
Firstrade focuses its educational content on topics tied more directly to investing and stock market activity. Like Robinhood, an investment glossary is available, but it is neatly tucked away (which is excellent). The main focus is on stocks, options, ETFs, mutual funds, and fixed-income products. Clicking each category opens an introductory article and several subtopics investors should understand.
Although the better education section partly depends on the reader, we would give this category to Firstrade for its organization and ease of use.
Cash Management
If you want traditional cash management tools, Firstrade may be worth considering. Operating more like a traditional bank-style account, Firstrade’s cash management solution lets investors use a debit card, write checks, and access ATMs. There is a $25,000 minimum account equity requirement. Smaller accounts may not see as much value in Firstrade’s cash management offering.
Robinhood no longer supports its old Cash Management feature. It now offers separate banking and debit-card features for eligible customers. Because Robinhood’s banking-style service does not have Firstrade’s $25,000 account equity requirement, it may be a better everyday cash-management option for many retail investors.
Robinhood appears to provide the better cash management service for most retail investors.
Promotions
Robinhood:
3% deposit match and FREE stock worth up to $200 at Robinhood.
Firstrade: Currently, no promotions.
Firstrade vs Robinhood: Best Choice Per Investor Type
As you can see, Firstrade and Robinhood have some similarities, but the two brokers are also very different. At their core, they are built for different types of investors.
Firstrade provides a more traditional investment service, giving its customers access to more financial
markets (sans futures and forex). Firstrade is also one of the lowest-cost brokers in the investment industry, with zero commissions on nearly all of the asset classes it offers. It is easy to see why Firstrade has been such a popular choice for over 30 years.
Robinhood has established itself as one of the most popular brokers in the space and played a major role in spreading the commission-free model. With simplicity and accessibility in mind, the broker has built an offering that almost anyone can use, even without prior market experience.
The best broker for you depends on what you want from your brokerage account.
Firstrade is best for investors who want mutual funds, fixed-income products, OTC securities,
advanced order entry, screeners, better watchlists, and a wider selection of account types.
Robinhood is best for investors who want simplicity and the app-like feel of the broker’s
investing tools. Traders may also prefer Robinhood for its easy interface and access to cheaper cash
management features.
Updated on 5/28/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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