Firstrade Vs. Robinhood Overview
Firstrade and Robinhood are good choices if you want an affordable, user-friendly broker with useful features. These brokers are among the cheapest available and very popular.
This article compares Firstrade and Robinhood to help you decide which one fits your needs best.
Both Firstrade and Robinhood offer commission-free trading, multiple investment choices, and cash management to simplify your finances. However, their investing styles differ. Depending on your preferences, one broker might suit you better.
Keep reading to find out which broker is best for you.
Services Comparison
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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
Firstrade and Robinhood have similar fees, but there are a few differences.
Both brokers offer commission-free trades on stocks, ETFs, options, and cryptocurrencies. Neither charges for account closures, electronic statements, or option exercise fees.
However, some fees apply at each broker.
At Robinhood, you'll pay:
ACATS (outgoing) = $100
Transfer to non-Robinhood debit card = 1.5%
Overnight check delivery & mail (Domestic) = $20
International mail = $50
Margin rate (with Gold membership) = 5.25% (after using the first $1,000 included)
Gold membership = $5/month
At Firstrade, you'll pay:
ACATS (outgoing – full) = $75
ACATS (outgoing – partial) = $55
Wire transfers (domestic & foreign) = $25
Overnight check delivery = $50
Margin = 12.25% - 8.25% (varies based on account balance)
Promotions
Robinhood:
3% deposit match and up to $200 FREE stock at Robinhood.
Firstrade: Up to $250 in ACAT fee rebate at Firstrade.
Assets & Securities
Firstrade provides more investment choices than Robinhood. If you're interested in more than stocks, ETFs, and options, Firstrade may be better suited to you.
Firstrade offers a large selection of foreign stocks, OTC stocks (Pink Sheets), mutual funds, fixed-income securities, and the same stocks and ETFs available at Robinhood.
Robinhood is your only choice if you want cryptocurrency trading.
Account Types
Firstrade clearly wins in the account-type category.
Robinhood has individual and joint margin/cash accounts, plus Traditional/Roth IRAs. Firstrade offers additional account options that serve a wider audience.
Besides standard brokerage accounts, Firstrade provides several IRA types, international accounts, ESA education accounts, and custodial accounts.
Both brokers offer cash management accounts linked to brokerage accounts.
Platforms, Tools, Trading, & Resources
Firstrade and Robinhood both offer useful trading platforms, tools, and unique investment opportunities.
The best choice depends on your personal preferences.
Browser Trading Software
Neither Firstrade nor Robinhood offers a desktop app. Instead, you trade through their websites.
Firstrade’s site is more advanced, offering similar tools to brokers like Charles Schwab and E*TRADE.
Robinhood’s website closely resembles its mobile app.
Firstrade Browser Trading:
Robinhood Browser Trading:
Mobile Trading
Mobile trading at Firstrade and Robinhood is similar to their web platforms.
Firstrade’s mobile app supports a broad range of investments, advanced order types, and detailed charts.
Robinhood’s mobile app emphasizes ease of use and simplicity. Its charts are basic, and news and information are presented clearly, with helpful tips available throughout.
Choosing between Firstrade and Robinhood’s apps depends on your needs. Firstrade is better for advanced orders and managing different asset types. Robinhood is better if you prefer a simple trading approach.
Screeners
If screeners are important to you, Firstrade is the better option.
Firstrade’s screener is separated into stocks, ETFs, and mutual funds.
Each category offers many filters to refine searches, ready-made scans, and the ability to save your favorite criteria. Firstrade’s screener updates results automatically as the market changes.
Robinhood groups stocks into themes but lacks detailed screening capabilities found at Firstrade.
Watchlists
Creating watchlists is easy at both brokers.
Firstrade allows up to ten watchlists, each containing up to 50 symbols.
Robinhood lets you edit your default watchlist and create additional watchlists.
Robinhood’s watchlist automatically updates based on your current investments. You can view cryptocurrencies, options, and stocks in a fixed order.
Extended Hours Trading
Robinhood offers an earlier pre-market session, starting at 7 am EST, giving traders an extra 2.5 hours before regular market hours.
Surprisingly, Robinhood wins here, since Firstrade's pre-market trading begins at 8 am EST.
Both brokers offer extended trading until 8 pm EST, adding 4 extra hours in the evening.
Research & Education
Firstrade and Robinhood approach research and education differently.
Both brokers offer a good amount of educational resources, but Robinhood mainly targets beginners. Its topics include basic ideas like risk management, options fundamentals, and introductions to investing. While advanced topics exist, they're mixed in with many beginner articles that experienced traders might not need.
Firstrade’s educational content focuses directly on practical investing and market operations. Like Robinhood, Firstrade has a glossary, but it's neatly organized. Main topics include stocks, options, ETFs, mutual funds, and fixed-income products. Clicking on each topic leads to an overview and relevant subtopics.
Though preference varies, Firstrade wins this section due to its clear structure and ease of use.
Cash Management
Firstrade may be better if you want comprehensive cash management. It functions similarly to a traditional bank account, allowing check-writing, debit card use, and ATM access. However, there's a $25,000 minimum account requirement, which might not appeal to all investors.
Robinhood is currently updating its cash management service. The broker stopped accepting new cash management clients and introduced its separate Robinhood Spending Account.
Existing Robinhood customers with cash accounts still use a debit card connected directly to their brokerage account. The Robinhood Spending Account is separate and similar to Firstrade’s offering, providing comparable features without the high minimum balance.
Robinhood appears better suited for most retail investors' cash management needs.
Promotions
Robinhood:
3% deposit match and up to $200 FREE stock at Robinhood.
Firstrade: Up to $250 in ACAT fee rebate at Firstrade.
Firstrade vs Robinhood: Best Choice Per Investor Type
As shown, Firstrade and Robinhood have similarities but serve different investor types.
Firstrade offers a traditional brokerage experience with access to nearly all market areas, excluding futures and forex. It’s among the lowest-cost brokers available, charging zero commissions for most assets. Its popularity over 30 years is understandable.
Robinhood has become highly popular and is a major reason commission-free trading is standard today. It focuses on simplicity, making investing easy for everyone, even beginners.
Choosing between these two brokers depends on your priorities.
Firstrade suits investors who want mutual funds, fixed-income investments, OTC stocks, advanced trading orders, strong screeners, better watchlists, and various account types.
Robinhood is ideal if you prefer simple, easy-to-use tools with a user-friendly, game-like approach, and low-cost cash management features.
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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