Firstrade vs eToro 2024
In this head to head comparison of Firstrade vs eToro, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
In this head to head comparison of Firstrade vs eToro, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
When comparing online brokers Firstrade and eToro, Firstrade stands out with a broader array of investment options, earning a higher rating of 4.5 stars compared to eToro's 2.5 stars. According to StockBrokers.com, Firstrade ranks an impressive 6th out of 18 brokers for investment options, while eToro is positioned at 17th. This suggests Firstrade's superior capability to meet diverse investor needs, from trading stocks and options to offering retirement accounts, whereas eToro is more limited in its investment product range, though it does excel in cryptocurrency trading.
Firstrade boasts a comprehensive selection of trading options including stocks, margin trading, fractional shares, OTC stocks, mutual funds, and options trading. It also provides the unique advantage of traditional and Roth IRA accounts, making it a versatile choice for long-term investors. However, Firstrade does not cater to forex, futures, or cryptocurrency traders, which might be a notable consideration for some investors.
In contrast, eToro offers a more streamlined range of investment products, supporting stock and options trading, as well as fractional shares. Despite its limitations in offering OTC stocks, mutual funds, and IRA accounts, eToro distinguishes itself by providing access to cryptocurrency trading with 26 different coins, appealing to investors interested in digital assets. Overall, while Firstrade is ideal for investors seeking a broad investment portfolio, eToro meets the needs of those focused primarily on the stock market and cryptocurrency investments.
Feature |
Firstrade
|
eToro
|
---|---|---|
Stock Trading | Yes | Yes |
Margin Trading | Yes | No |
Fractional Shares | Yes | Yes |
OTC Stocks | Yes | No |
Mutual Funds | Yes | No |
Options Trading | Yes | Yes |
Futures Trading | No | No |
Crypto Trading | No | Yes |
Crypto Trading - Total Coins | 0 | 26 |
Investment Options |
Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024
When comparing Firstrade and eToro in terms of their trading platforms and tools, both brokers offer unique strengths that cater to different trading needs. Firstrade boasts an impressive 102 technical indicators for charting, significantly more than eToro’s 46. This makes Firstrade a suitable choice for traders who rely heavily on technical analysis. On the other hand, eToro shines with its 48 drawing tools for charting and provides paper trading, ideal for beginners looking to hone their skills without financial risk.
Neither Firstrade nor eToro offers a Windows or Mac desktop downloadable trading platform, but both provide a browser-based trading platform for convenience. eToro differentiates itself further by allowing users to save multiple chart profiles and add notes to charts, features not available on Firstrade. However, Firstrade's watch lists are highly customizable, offering 50 columns compared to eToro’s 7, thus providing a more tailored watchlist experience for its users.
Despite their differences, Firstrade and eToro received an identical 3.5-star rating in trading platforms and tools, reflecting their overall balanced offerings. According to StockBrokers.com, Firstrade ranks higher at #9 compared to eToro's #12 out of 18 brokers, indicating a slight preference for Firstrade's platform tools among reviewers. Ultimately, the choice between Firstrade and eToro will depend on individual preferences for technical analysis capabilities, charting tools, and trading practice features.
Feature |
Firstrade
|
eToro
|
---|---|---|
Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | No |
Desktop Platform (Mac) | No | No |
Paper Trading | No | Yes |
Watch Lists - Total Fields | 50 | 7 |
Charting - Indicators / Studies | 102 | 46 |
Charting - Drawing Tools | 8 | 48 |
Platforms & Tools |
Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024
When comparing the educational resources offered by Firstrade and eToro for beginner investors, each platform presents distinct advantages. Firstrade provides comprehensive stock and options education, along with live webinars to enrich its educational suite. The platform also features a selection of educational videos, making it a diverse choice for novice investors seeking learning opportunities. Although it lacks educational content on ETFs, mutual funds, and bonds, Firstrade's emphasis on options and stock education earns it a 3.5-star rating for investor education, ranking it 12th out of 18 brokers evaluated by StockBrokers.com.
Conversely, eToro supports beginner investor education primarily through stock-focused content and educational videos. While it doesn't offer training in options, ETFs, mutual funds, or bonds, eToro provides a significant advantage with its paper trading feature, allowing beginners to practice trading strategies risk-free. Despite this, eToro's educational offerings are considered less comprehensive than Firstrade’s, culminating in a 2.5-star rating and a 16th place ranking among 18 brokers by StockBrokers.com. Overall, Firstrade's stronger emphasis on a variety of educational formats, including webinars, may better serve those new to investment education compared to eToro's primarily practice-oriented approach.
Feature |
Firstrade
|
eToro
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | No | No |
Education (Options) | Yes | No |
Education (Mutual Funds) | No | No |
Education (Bonds) | No | No |
Paper Trading | No | Yes |
Videos | Yes | Yes |
Webinars | Yes | No |
Education |
Dive deeper: Best Stock Trading Platforms for Beginners of 2024
For traders evaluating the stock trading app capabilities of Firstrade and eToro, both platforms provide solid options with distinct features, making the choice largely dependent on specific user preferences. Both apps rank highly with a 4.5-star user rating, yet Firstrade holds a slightly better position, ranking 6th out of 18 brokers per StockBrokers.com compared to eToro's 11th rank. Key differences include chart customization and availability of video resources, with each platform showcasing unique strengths.
Both Firstrade and eToro offer comprehensive mobile presence with iPhone and Android apps, but neither currently supports Apple Watch applications. Firstrade shines with features such as mobile after-hours stock and options trading, streaming quotes, and the ability to customize watch list columns. It also allows users to view charts in landscape mode and offers multiple time frames for charting—a valuable asset for detailed analysis. However, Firstrade lacks after-hours charting and the ability to display stock comparisons on charts.
eToro, meanwhile, distinguishes itself with a more extensive range of technical studies, providing 103 compared to Firstrade's 81, and the added advantage of video on demand. Additionally, eToro allows after-hours charting and supports stock comparisons on charts, which are indicators of its robust analytical capabilities. Although it falls short in watch list column customization and chart landscape viewing, eToro's strengths in video resources and technical analysis tools make it a compelling choice for users focused on in-depth market research.
Feature |
Firstrade
|
eToro
|
---|---|---|
iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | No |
Stock Alerts | Yes | Yes |
Charting - After-Hours | No | Yes |
Charting - Technical Studies | 81 | 103 |
Mobile Trading Apps |
Dive deeper: Best Stock Trading Apps for 2024
For investors seeking a cost-effective online brokerage, both Firstrade and eToro present compelling options with their no-fee structures for regular stock trades and options contracts. Firstrade offers significant advantages with its $0 minimum deposit requirement, allowing investors to get started without any initial financial commitment, compared to eToro's $50 minimum. Also noteworthy is Firstrade's provision of free IRA management, which includes zero IRA annual and closure fees, while eToro does not offer IRA services. Both platforms ensure investors are not burdened with additional costs for options exercises and assignments.
Considering supplementary charges, Firstrade appears more advantageous with slightly lower transaction costs in certain contexts. Particularly, Firstrade maintains a marginally lower fee for partial account transfers (ACAT) at $55 compared to eToro's $75, with both brokerages imposing the same fee for full transfers. Investors could encounter substantial savings with Firstrade's transparent pricing for margin accounts. Although eToro does not offer margin services, Firstrade's tiered interest rates decrease progressively, beginning at 13.75% for balances below $25,000, down to 13.00% for balances between $50,000 and $99,999.
In essence, Firstrade serves as a cost-effective alternative for diverse investment needs with its fee-free trades, tax-advantaged accounts, and lower starting costs compared to eToro. While eToro matches Firstrade in free trading on a surface level, Firstrade's lack of minimum deposit requirements, along with lower account transfer fees and comprehensive margin services, provide a more inclusive environment for various investor profiles.
Feature |
Firstrade
|
eToro
|
---|---|---|
Minimum Deposit | $0.00 | $50.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.00 | $0.00 |
Options Exercise Fee | $0.00 | $0.00 |
Options Assignment Fee | $0.00 | $0.00 |
IRA Annual Fee | $0.00 | |
IRA Closure Fee | $0.00 | |
Commissions & Fees |
Dive deeper: Best Free Trading Platforms for 2024
When it comes to evaluating Firstrade and eToro for day trading, several distinctions become evident. Notably, eToro provides streaming time and sales data for stocks, a feature absent in Firstrade, potentially offering eToro users an edge in real-time market analysis. Despite this, neither platform supports streaming live TV, direct market routing for stocks, ladder trading, or the use of trading hotkeys for keyboard trade entry. This limits both platforms in terms of offering advanced tools and real-time insights often sought by day traders.
Additionally, both Firstrade and eToro fall short in providing enhanced market data and trading strategies. Neither platform offers level 2 quotes, basic or advanced strategy backtesting, or a short locator tool to check real-time stock availability for shorting. Furthermore, both brokers do not provide order liquidity rebates, which could be a drawback for traders looking for cost efficiencies. Overall, while eToro exhibits a slight advantage with its streaming stock data, both platforms have significant limitations for day traders seeking comprehensive tools and features.
Feature |
Firstrade
|
eToro
|
---|---|---|
Streaming Time & Sales | No | Yes |
Streaming TV | No | No |
Direct Market Routing - Stocks | No | No |
Level 2 Quotes - Stocks | No | No |
Trade Ideas - Backtesting | No | No |
Trade Ideas - Backtesting Adv | No | No |
Short Locator | No | No |
Dive deeper: Best Day Trading Platforms for 2024
When comparing the market research capabilities of Firstrade and eToro, Firstrade emerges as a more comprehensive option, particularly for investors seeking in-depth insights across a wider range of investment vehicles. Firstrade shines with features like stock, ETF, mutual fund, Pink Sheets/OTCBB, and bond research, complemented by social media sentiment data for stock research and ESG reports. The availability of downloadable PDF research reports for both stocks and ETFs further enhances its credibility. Firstrade's high market research rating of 4.5 stars and its #6 ranking out of 18 brokers, as evaluated by StockBrokers.com, emphasizes its superior standing compared to eToro, which holds a lower rating of 3 stars and a #12 ranking.
Focusing on the details, Firstrade offers a comprehensive suite of research tools and reports, catering to stocks, ETFs, mutual funds, Pink Sheets/OTCBB, and bonds. It allows investors to evaluate their portfolio allocation by asset class, backed by supporting ESG research. Firstrade’s platform includes an extensive array of screeners for stocks, ETFs, mutual funds, and bonds, providing a versatile toolkit for evaluating potential trade ideas. Although limited to one downloadable PDF research report, Firstrade offers significant depth in the variety of assets covered by its research capabilities.
On the other hand, eToro provides basic stock and ETF research, including the use of social media sentiment data, along with ESG research. However, eToro falls short in offering research reports in downloadable PDF format and lacks critical functionalities such as viewing portfolio allocation by asset class and trade idea screeners for various assets. This uneven research provision, coupled with its lower overall ratings, suggests eToro is more suitable for investors with simpler research needs or those primarily interested in social trading. Overall, Firstrade's extensive market research resources make it a more robust choice for investors looking for detailed analytical tools.
Feature |
Firstrade
|
eToro
|
---|---|---|
Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | No |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | No |
Research - Mutual Funds | Yes | No |
Screener - Mutual Funds | Yes | No |
Research - Bonds | Yes | No |
Screener - Bonds | Yes | No |
Research |
When evaluating the banking capabilities of online brokers Firstrade and eToro, Firstrade emerges with a more comprehensive offering. Firstrade provides checking accounts and debit cards, which eToro does not offer. Additionally, Firstrade offers Certificates of Deposit (CDs), further enhancing its banking services, whereas eToro lacks this feature. Both platforms do not offer savings accounts, credit cards, or mortgage loans, maintaining a limited scope in these areas. Overall, Firstrade presents more banking options, catering to users seeking integration with traditional banking features.
Feature |
Firstrade
|
eToro
|
---|---|---|
Checking Accounts | Yes | No |
Savings Accounts | No | No |
Debit Cards | Yes | No |
Credit Cards | No | No |
Mortgage Loans | No | No |
CDs | Yes | No |
Dive deeper: Best Bank Accounts for Trading Stocks for 2024
After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that Firstrade is better than eToro. Firstrade finished with an overall score of 87.7%, while eToro finished with a score of 76.7%.
Firstrade scored well for penny stock trading in our 2024 Annual Awards, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.
Firstrade does not offer cryptocurrency trading, while eToro provides access to trading with 26 different coins, making eToro a more suitable choice for investors interested in the crypto market.
Dive deeper: Best Online Brokers for Crypto Trading in 2024
Firstrade offers both traditional and Roth IRA accounts with no annual or closure fees, whereas eToro does not provide traditional or Roth IRA options.
Dive deeper: Best IRA Accounts for 2024
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0 of 5Overall Rating | Firstrade | eToro | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Customer Service | N/A | ||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Firstrade Review | eToro Review |
Broker Screenshots | Firstrade | eToro | |
---|---|---|---|
Trading Platform & Tools Gallery (click to expand) | |||
Research Gallery (click to expand) | |||
Mobile Trading Apps Gallery (click to expand) | |||
Education Gallery (click to expand) |
Trading Fees | Firstrade | eToro | |
---|---|---|---|
Minimum Deposit | $0.00 | $50.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | $0.00 | N/A | |
Mutual Fund Trade Fee | $0 | N/A | |
Options (Per Contract) | $0.00 | $0.00 | |
Futures (Per Contract) | (Not offered) | (Not offered) | |
Broker Assisted Trade Fee | $19.95 | $0 |
Margin Rates | Firstrade | eToro | |
---|---|---|---|
Margin Rate Under $25,000 | 13.75% | Not offered | |
Margin Rate $25,000 to $49,999.99 | 13.50% | Not offered | |
Margin Rate $50,000 to $99,999.99 | 13.00% | Not offered | |
Margin Rate $100,000 to $249,999.99 | 12.50% | Not offered | |
Margin Rate $250,000 to $499,999.99 | 12.50% | Not offered | |
Margin Rate $500,000 to $999,999.99 | 12.50% | Not offered | |
Margin Rate Above $1,000,000 | 12.50% | Not offered |
Account Fees | Firstrade | eToro | |
---|---|---|---|
IRA Annual Fee | $0.00 | ||
IRA Closure Fee | $0.00 | ||
Account Transfer Out (Partial) | $55.00 | $75.00 | |
Account Transfer Out (Full) | $75.00 | $75.00 | |
Options Exercise Fee | $0.00 | $0.00 | |
Options Assignment Fee | $0.00 | $0.00 |
Investment Options | Firstrade | eToro | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Margin Trading | Yes | No | |
Fractional Shares | Yes | Yes | |
OTC Stocks | Yes | No | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 0 | |
Futures Trading | No | No | |
Forex Trading | No | No | |
Crypto Trading | No | Yes | |
Crypto Trading - Total Coins | 0 | 26 | |
Mutual Funds (No Load) | 15460 | 0 | |
Mutual Funds (Total) | 19666 | 0 | |
Bonds (US Treasury) | Yes | No | |
Bonds (Corporate) | Yes | No | |
Bonds (Municipal) | Yes | No | |
Traditional IRAs | Yes | No | |
Roth IRAs | Yes | No | |
Advisor Services | No | No | |
International Countries (Stocks) | 0 | 0 |
Order Types | Firstrade | eToro | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | No | |
Order Type - After Hours | Yes | No | |
Order Type - Stop | Yes | Yes | |
Order Type - Trailing Stop | Yes | Yes | |
Order Type - OCO | Yes | No | |
Order Type - OTO | Yes | No | |
Order Type - Broker Assisted | Yes | No |
Beginners | Firstrade | eToro | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | No | No | |
Education (Options) | Yes | No | |
Education (Mutual Funds) | No | No | |
Education (Bonds) | No | No | |
Education (Retirement) | Yes | No | |
Retirement Calculator | Yes | No | |
Investor Dictionary | Yes | No | |
Paper Trading | No | Yes | |
Videos | Yes | Yes | |
Webinars | Yes | No | |
Webinars (Archived) | Yes | No | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | No | No |
Stock Trading Apps | Firstrade | eToro | |
---|---|---|---|
iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | No | |
Trading - Stocks | Yes | Yes | |
Trading - After-Hours | Yes | No | |
Trading - Simple Options | Yes | Yes | |
Trading - Complex Options | Yes | No | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | Yes | Yes |
Stock App Features | Firstrade | eToro | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | Yes | |
Stock Alerts | Yes | Yes | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | Yes | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | Yes | No |
Stock App Charting | Firstrade | eToro | |
---|---|---|---|
Charting - After-Hours | No | Yes | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 81 | 103 | |
Charting - Study Customizations | Yes | Yes | |
Charting - Stock Comparisons | No | Yes |
Trading Platforms | Firstrade | eToro | |
---|---|---|---|
Active Trading Platform | N/A | ||
Desktop Trading Platform | No | No | |
Desktop Platform (Mac) | No | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | Yes | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 50 | 7 |
Stock Chart Features | Firstrade | eToro | |
---|---|---|---|
Charting - Adjust Trades on Chart | No | No | |
Charting - Indicators / Studies | 102 | 46 | |
Charting - Drawing Tools | 8 | 48 | |
Charting - Notes | No | Yes | |
Charting - Index Overlays | Yes | Yes | |
Charting - Historical Trades | No | No | |
Charting - Corporate Events | No | No | |
Charting - Custom Date Range | No | No | |
Charting - Custom Time Bars | No | No | |
Charting - Automated Analysis | No | No | |
Charting - Save Profiles | No | Yes | |
Trade Ideas - Technical Analysis | Yes | Yes | |
Charting - Study Customizations | 6 | 5 | |
Charting - Custom Studies | No | No |
Day Trading | Firstrade | eToro | |
---|---|---|---|
Streaming Time & Sales | No | Yes | |
Streaming TV | No | No | |
Direct Market Routing - Stocks | No | No | |
Ladder Trading | No | No | |
Trade Hotkeys | No | No | |
Level 2 Quotes - Stocks | No | No | |
Trade Ideas - Backtesting | No | No | |
Trade Ideas - Backtesting Adv | No | No | |
Short Locator | No | No | |
Order Liquidity Rebates | No | No |
Research Overview | Firstrade | eToro | |
---|---|---|---|
Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | No | |
Research - Pink Sheets / OTCBB | Yes | No | |
Research - Bonds | Yes | No | |
Screener - Stocks | Yes | No | |
Screener - ETFs | Yes | No | |
Screener - Mutual Funds | Yes | No | |
Screener - Bonds | Yes | No | |
Misc - Portfolio Allocation | Yes | No |
Stock Research | Firstrade | eToro | |
---|---|---|---|
Stock Research - PDF Reports | 1 | 0 | |
Stock Research - Earnings | Yes | Yes | |
Stock Research - Insiders | Yes | Yes | |
Stock Research - Social | Yes | Yes | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | Yes | Yes | |
Stock Research - SEC Filings | Yes | Yes |
ETF Research | Firstrade | eToro | |
---|---|---|---|
ETFs - Strategy Overview | Yes | Yes | |
ETF Fund Facts - Inception Date | Yes | No | |
ETF Fund Facts - Expense Ratio | Yes | No | |
ETF Fund Facts - Net Assets | Yes | No | |
ETF Fund Facts - Total Holdings | Yes | No | |
ETFs - Top 10 Holdings | Yes | No | |
ETFs - Sector Exposure | Yes | No | |
ETFs - Risk Analysis | Yes | No | |
ETFs - Ratings | Yes | Yes | |
ETFs - Morningstar StyleMap | Yes | No | |
ETFs - PDF Reports | Yes | No |
Mutual Fund Research | Firstrade | eToro | |
---|---|---|---|
Mutual Funds - Strategy Overview | Yes | No | |
Mutual Funds - Performance Chart | Yes | No | |
Mutual Funds - Performance Analysis | Yes | No | |
Mutual Funds - Prospectus | Yes | No | |
Mutual Funds - 3rd Party Ratings | Yes | No | |
Mutual Funds - Fees Breakdown | Yes | No | |
Mutual Funds - Top 10 Holdings | Yes | No | |
Mutual Funds - Asset Allocation | Yes | No | |
Mutual Funds - Sector Allocation | Yes | No | |
Mutual Funds - Country Allocation | Yes | No | |
Mutual Funds - StyleMap | Yes | No |
Options Trading | Firstrade | eToro | |
---|---|---|---|
Option Chains - Basic View | Yes | Yes | |
Option Chains - Strategy View | Yes | No | |
Option Chains - Streaming | No | No | |
Option Chains - Total Columns | 8 | 0 | |
Option Chains - Greeks | 5 | 4 | |
Option Chains - Quick Analysis | No | Yes | |
Option Analysis - P&L Charts | Yes | No | |
Option Probability Analysis | No | No | |
Option Probability Analysis Adv | Yes | No | |
Option Positions - Greeks | No | No | |
Option Positions - Greeks Streaming | No | No | |
Option Positions - Adv Analysis | No | No | |
Option Positions - Rolling | Yes | No | |
Option Positions - Grouping | No | No |
Banking | Firstrade | eToro | |
---|---|---|---|
Bank (Member FDIC) | No | No | |
Checking Accounts | Yes | No | |
Savings Accounts | No | No | |
Credit Cards | No | No | |
Debit Cards | Yes | No | |
Mortgage Loans | No | No |
Customer Service | Firstrade | eToro | |
---|---|---|---|
Phone Support (Prospect Customers) | Yes | No | |
Phone Support (Current Customers) | Yes | No | |
Email Support | Yes | Yes | |
Live Chat (Prospect Customers) | Yes | Yes | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | No | No |
Overall | Firstrade | eToro | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Firstrade Review | eToro Review |