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Firstrade vs eToro 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 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.

Firstrade
4.5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00
eToro
4/5 Stars Overall
  • Minimum Deposit: $50.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Investment options

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 logoFirstrade
eToro logoeToro
Stock Trading info Yes Yes
Margin Trading Yes No
Fractional Shares info Yes Yes
OTC Stocks info Yes No
Mutual Funds info Yes No
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 26
Investment Options 4.5/5 Stars 2.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024

Trading platforms and tools

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 logoFirstrade
eToro logoeToro
Web Trading Platform info Yes Yes
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Paper Trading info No Yes
Watch Lists - Total Fields info 50 7
Charting - Indicators / Studies info 102 46
Charting - Drawing Tools info 8 48
Platforms & Tools 3.5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024

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Beginners and education

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 logoFirstrade
eToro logoeToro
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes No
Education (Mutual Funds) info No No
Education (Bonds) info No No
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes No
Education 3.5/5 Stars 2.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

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 logoFirstrade
eToro logoeToro
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes Yes
Charting - After-Hours info No Yes
Charting - Technical Studies info 81 103
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2024

Fees

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 logoFirstrade
eToro logoeToro
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 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Free Trading Platforms for 2024

Day Trading

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 logoFirstrade
eToro logoeToro
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Stocks info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No

Dive deeper: Best Day Trading Platforms for 2024

Market Research

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 logoFirstrade
eToro logoeToro
Research - Stocks info Yes Yes
Screener - Stocks info Yes No
Research - ETFs info Yes Yes
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Bonds info Yes No
Screener - Bonds info Yes No
Research 4.5/5 Stars 3/5 Stars

Banking

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 logoFirstrade
eToro logoeToro
Checking Accounts info Yes No
Savings Accounts info No No
Debit Cards info Yes No
Credit Cards info No No
Mortgage Loans info No No
CDs info Yes No

Dive deeper: Best Bank Accounts for Trading Stocks for 2024

Winner

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.

FAQs

Can you trade cryptocurrency with Firstrade or eToro?

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

Does Firstrade or eToro offer IRAs?

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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Compare

0 of 5
Overall Rating Firstrade eToro
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 3/5 Stars
Customer Service 3.0/5 Stars N/A
Education 3.5/5 Stars 2.5/5 Stars
Ease Of Use 4.5/5 Stars 4/5 Stars
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) info $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) info $55.00 $75.00
Account Transfer Out (Full) info $75.00 $75.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Firstrade eToro
Stock Trading info Yes Yes
Margin Trading Yes No
Fractional Shares info Yes Yes
OTC Stocks info Yes No
Options Trading info Yes Yes
Complex Options Max Legs info 4 0
Futures Trading info No No
Forex Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 26
Mutual Funds (No Load) info 15460 0
Mutual Funds (Total) info 19666 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Traditional IRAs info Yes No
Roth IRAs info Yes No
Advisor Services info No No
International Countries (Stocks) info 0 0
Order Types Firstrade eToro
Order Type - Market info Yes Yes
Order Type - Limit info Yes No
Order Type - After Hours info Yes No
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes No
Beginners Firstrade eToro
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes No
Education (Mutual Funds) info No No
Education (Bonds) info No No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes No
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps Firstrade eToro
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes No
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Firstrade eToro
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No Yes
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes No
Stock App Charting Firstrade eToro
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 81 103
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info No Yes
Trading Platforms Firstrade eToro
Active Trading Platform info N/A
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watch Lists - Total Fields info 50 7
Stock Chart Features Firstrade eToro
Charting - Adjust Trades on Chart info No No
Charting - Indicators / Studies info 102 46
Charting - Drawing Tools info 8 48
Charting - Notes info No Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info No No
Charting - Corporate Events info No No
Charting - Custom Date Range info No No
Charting - Custom Time Bars info No No
Charting - Automated Analysis info No No
Charting - Save Profiles info No Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 6 5
Charting - Custom Studies info No No
Day Trading Firstrade eToro
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No No
Trade Hotkeys info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview Firstrade eToro
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes No
Research - Bonds info Yes No
Screener - Stocks info Yes No
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes No
Stock Research Firstrade eToro
Stock Research - PDF Reports info 1 0
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes Yes
Stock Research - Social info Yes Yes
Stock Research - News info Yes Yes
Stock Research - ESG info Yes Yes
Stock Research - SEC Filings info Yes Yes
ETF Research Firstrade eToro
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Firstrade eToro
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Firstrade eToro
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info No No
Option Chains - Total Columns info 8 0
Option Chains - Greeks info 5 4
Option Chains - Quick Analysis info No Yes
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info No No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info No No
Option Positions - Greeks Streaming info No No
Option Positions - Adv Analysis info No No
Option Positions - Rolling info Yes No
Option Positions - Grouping info No No
Banking Firstrade eToro
Bank (Member FDIC) info No No
Checking Accounts info Yes No
Savings Accounts info No No
Credit Cards info No No
Debit Cards info Yes No
Mortgage Loans info No No
Customer Service Firstrade eToro
Phone Support (Prospect Customers) info Yes No
Phone Support (Current Customers) info Yes No
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No No
Overall Firstrade eToro
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 2.5/5 Stars
Ease Of Use 4.5/5 Stars 4/5 Stars
Winner check_circle
Review Firstrade Review eToro Review
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