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Firstrade vs TradeStation 2025

StockBrokers.com

Written by StockBrokers.com

February 20, 2025

In this head to head comparison of Firstrade vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Firstrade
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00
TradeStation
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.60

Range of investments

Firstrade and TradeStation both provide an impressive lineup of investment options, but where they differ may help potential investors make a more informed choice. For those interested in stock trading, both platforms check the box, and they also offer margin trading, options trading, and access to OTC stocks. However, Firstrade distinguishes itself with fractional shares trading, something TradeStation lacks. While neither supports forex or cryptocurrency trading, TradeStation pulls ahead in futures trading. Given these varied offerings, both brokers receive a similar rating of 4.5 stars for their range of investments, with TradeStation edging out Firstrade marginally in rankings by industry experts.

If mutual funds and retirement accounts are on your radar, both Firstrade and TradeStation deliver strong performances. Each platform provides access to mutual funds and traditional and Roth IRA accounts. This makes them equally viable options for investors looking to diversify or plan for retirement. However, neither broker extends advisor services, so investors seeking that personalized touch might need to look elsewhere.

Ultimately, choosing between Firstrade and TradeStation depends on your individual needs. If fractional shares are high on your list of priorities, Firstrade is the platform for you. Conversely, if you're interested in futures trading, TradeStation would be the better fit. Both platforms receive commendations for their broad array of investment options, ensuring you'll find robust avenues for your trading and investment objectives.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes No
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info No Yes
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Range of Investments 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025

Trading platforms and tools

When deciding between Firstrade and TradeStation, TradeStation clearly leads the way in terms of trading platforms and tools. It holds a more favorable ranking and rating, scoring 4.5 stars and standing at the third spot, compared to Firstrade's 3-star rating and eleventh place. TradeStation's offerings are more comprehensive, particularly with its advanced features and numerous customization options that cater to serious traders looking for a more versatile and dynamic experience.

Firstrade provides users with a browser-based platform, which many casual traders find adequate for their needs. However, it lacks features such as a downloadable desktop platform for Windows, paper trading, and detailed chart adjustment options. It offers a basic suite of functionalities, including 102 technical indicators and eight drawing tools, with the ability to overlay indices on charts. While this might suit those new to the market, more experienced traders might find its limitations restrictive.

On the other hand, TradeStation offers a full-featured Windows desktop platform, supporting robust trading capabilities complemented by an impressive array of tools. It shines with features like paper trading, chart notes, historical trade display, and corporate event indicators. With access to 294 technical indicators and 23 drawing tools, TradeStation ensures traders have the flexibility to finely tune their strategies. TradeStation's extensive watchlist capabilities and custom study creation further empower traders to navigate the market with insight and precision.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Web Trading Platform info Yes Yes
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No No
Paper Trading info No Yes
Watch Lists - Total Fields info 50 341
Charting - Indicators / Studies info 102 294
Charting - Drawing Tools info 8 23
Platforms & Tools 3/5 Stars 4.5/5 Stars

Dive deeper: 7 Best Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

Firstrade and TradeStation both provide educational resources aimed at helping beginners to understand the world of stock trading. Firstrade offers education on stocks and options, while TradeStation also provides insights into these areas. However, neither platform provides resources for ETFs, mutual funds, or bonds. For learners who prefer interactive elements, TradeStation stands out with its paper trading feature—allowing beginners to practice without financial risk. Both platforms offer educational videos and webinars, yet neither offers quizzes or tracks your learning progress.

In terms of overall effectiveness in investor education, Firstrade edges out TradeStation with a 3.5-star rating compared to TradeStation's 3-star rating. Among 16 online brokers assessed by StockBrokers.com, Firstrade is ranked 13th for its educational offerings, while TradeStation comes in at 14th place. These rankings reflect the slight difference in educational support provided by the platforms, with Firstrade offering slightly more comprehensive resources for beginners looking to expand their knowledge in stock and options trading.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes Yes
Education (Mutual Funds) info No No
Education (Bonds) info No No
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes Yes
Education 3.5/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

When comparing the stock trading app capabilities of Firstrade and TradeStation, both platforms offer competitive features, making it challenging to declare a clear winner. Both platforms present their users with essential tools like iPhone and Android apps, after-hours mobile stock trading, and options trading. They also deliver stock alerts, customizable watch lists, and the ability to view multiple time frames for charting. While Firstrade and TradeStation both earn a strong rating of 4.5 stars for their apps, TradeStation slightly edges ahead in broker rankings by securing the 8th position, whereas Firstrade is ranked 9th out of 16 brokers according to StockBrokers.com.

Despite having many similarities, there are important differences between Firstrade and TradeStation. Firstrade provides an advantage with access to 81 technical studies compared to TradeStation's 45, supporting more comprehensive analysis for traders who rely heavily on technical indicators. Additionally, Firstrade includes features such as viewing charts in landscape mode, which TradeStation does not. However, TradeStation compensates for this by offering the added capability of after-hours charting, a feature not available with Firstrade.

Neither Firstrade nor TradeStation offers an Apple Watch app, streaming live TV, or videos on demand, indicating that traders looking for these features might need to look elsewhere. Similarly, both platforms lack the ability to display stock comparisons on their charts. These omissions highlight opportunities for enhancements to meet the evolving needs of today's tech-savvy traders. Overall, both Firstrade and TradeStation serve as reliable choices for traders seeking a solid and feature-rich mobile app experience, with individual preferences dictating which platform may suit them best.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
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 45
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

When choosing between Firstrade and TradeStation, it's essential to consider their account fees and charges, which can significantly influence your investing experience. Firstrade offers an enticing proposition with $0.00 minimum deposits, commission-free stock trades, and $0.00 fees on options contracts, making it a cost-effective choice for many investors. TradeStation also features $0.00 minimum deposits and commission-free stock trades, but charges $0.60 per options contract, which could be a deciding factor for high-frequency options traders. Furthermore, Firstrade edges out TradeStation with no fees associated with IRA accounts, including annual fees and closure costs, while TradeStation imposes an annual fee of $35.00 and a closure fee of $50.00.

Both brokers provide competitive rates on margin balances, but nuanced differences exist. For balances below $25,000, Firstrade charges 13.75% compared to TradeStation's slightly lower rate of 13.0%. This trend continues for balances between $25,000 and $49,999, with Firstrade charging 13.50% while TradeStation maintains the 13.0% rate. For larger balances between $50,000 and $99,999, the gap extends with Firstrade charging 13.00% and TradeStation offering a more attractive rate at 12.5%. These variations may influence margin traders in selecting a broker that aligns with their financial goals and balance levels.

In terms of account transfers, Firstrade once again presents a more budget-friendly choice with $55.00 for partial transfers and $75.00 for full transfers, compared to TradeStation's $125.00 charge for both partial and full transfers. Additionally, options traders may find Firstrade appealing due to its $0.00 options exercise and assignment fees, in contrast to TradeStation, which charges $14.95 for options exercises and $5.95 for assignments. These considerations make Firstrade an attractive option for those seeking to minimize additional fees, whereas traders focusing on margin rates might prefer TradeStation's lower margin pricing structure.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.00 $0.60
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

When it comes to day trading, TradeStation offers a host of features that Firstrade does not. TradeStation provides streaming time and sales for stocks, which gives traders real-time access to market data. In contrast, Firstrade does not offer this feature. TradeStation also supports direct market routing for stocks and ladder trading, both essential tools for active traders aiming for precision and speed. Firstrade, on the other hand, lacks these capabilities. Moreover, TradeStation empowers traders with the ability to use keyboard shortcuts, offering a faster way to enter trades. This feature is absent in Firstrade's offerings.

Additional capabilities that make TradeStation a more powerful platform for day traders include access to level 2 quotes and comprehensive strategy backtesting options, both basic and advanced. Firstrade does not support these advanced trading features. Furthermore, TradeStation has a short locator tool to help identify real-time share availability for short selling and provides order liquidity rebates, enhancing profitability for traders. Firstrade does not offer these services. While both platforms skip out on streaming live TV, TradeStation's comprehensive suite of tools positions it as a more advantageous option for dedicated day traders.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Stocks info No Yes
Level 2 Quotes - Stocks info No Yes
Trade Ideas - Backtesting info No Yes
Trade Ideas - Backtesting Adv info No Yes
Short Locator info No Yes

Dive deeper: Best Day Trading Platforms for 2025

Market Research

When it comes to market research capabilities, Firstrade stands out as a more comprehensive platform compared to TradeStation. With Firstrade's 4.5-star rating, it is ranked #6 out of 16 brokers according to StockBrokers.com, making it a strong choice for investors who value in-depth research tools. In contrast, TradeStation's market research rating is lower at 2 stars, with a ranking of #11, indicating more limited resources in this area.

Firstrade offers a broad range of research tools, including resources for stocks, ETFs, mutual funds, and bonds, along with unique features like social media sentiment data and ESG (Environmental, Social, and Governance) research. Additionally, Firstrade provides downloadable PDF reports for stocks and ETFs, enhancing the accessibility of their research. Their comprehensive screeners for various asset classes like ETFs and bonds are also a boon for investors looking for diverse trade ideas.

On the other hand, TradeStation provides research capabilities for stocks, ETFs, and Pink Sheets/OTCBB, but lacks mutual funds and bonds research. While it does offer a stock screener, TradeStation doesn't provide downloadable PDF research reports or screeners for ETFs, mutual funds, or bonds. These gaps in offerings may limit its appeal to investors seeking detailed research resources to inform their decisions.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
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 2/5 Stars

Banking

When comparing the banking features of online brokers Firstrade and TradeStation, Firstrade stands out with its offering of checking accounts and debit cards, catering to users looking for basic banking needs alongside their trading activities. While both platforms do not provide savings accounts or credit cards, Firstrade further differentiates itself by offering Certificates of Deposit (CDs), an option not available with TradeStation. Neither broker offers mortgage loans, but for those primarily interested in banking alongside broker services, Firstrade presents more comprehensive options than TradeStation.

Feature Firstrade logoFirstrade
TradeStation logoTradeStation
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 2025

Winner

After opening live accounts and testing 16 of the best online brokers, our research and live account testing finds that Firstrade is better than TradeStation. Firstrade finished with an overall score of 81.8%, while TradeStation finished with a score of 80.2%.

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 TradeStation?

Firstrade and TradeStation both do not offer crypto trading, and neither platform provides any cryptocurrencies for trading, with each offering 0 coins.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does Firstrade or TradeStation offer IRAs?

Both Firstrade and TradeStation offer traditional and Roth IRA accounts, but Firstrade provides a more cost-effective solution with no annual or closure fees, whereas TradeStation charges $35 annually and $50 for account closure.

Dive deeper: Best IRA Accounts for 2025

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Compare

0 of 5
Overall Rating Firstrade TradeStation
Overall 4/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 2/5 Stars
Customer Service 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review TradeStation Review
Broker Screenshots Firstrade TradeStation
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 TradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $0.00 $0.01 info
Mutual Fund Trade Fee info $0 $14.95
Options (Per Contract) info $0.00 $0.60
Futures (Per Contract) info (Not offered) $1.50
Broker Assisted Trade Fee info $19.95 $25
Margin Rates Firstrade TradeStation
Margin Rate Under $25,000 info 13.75% 13.0%
Margin Rate $25,000 to $49,999.99 info 13.50% 13.0%
Margin Rate $50,000 to $99,999.99 info 13.00% 12.5%
Margin Rate $100,000 to $249,999.99 info 12.50% 12.0%
Margin Rate $250,000 to $499,999.99 info 12.50% 12.0%
Margin Rate $500,000 to $999,999.99 info 12.50% 7.5% info
Margin Rate Above $1,000,000 info 12.50% 7.5% info
Account Fees Firstrade TradeStation
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00
Account Transfer Out (Partial) info $55.00 $125.00
Account Transfer Out (Full) info $75.00 $125.00
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
Investment Options Firstrade TradeStation
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No Yes
Forex Trading info No No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 15460 800
Mutual Funds (Total) info 19666 4000
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No No
International Countries (Stocks) info 0 0
Order Types Firstrade TradeStation
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes Yes
Order Type - OTO info Yes Yes
Order Type - Broker Assisted info Yes Yes
Beginners Firstrade TradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes Yes
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 Yes
Webinars (Archived) info Yes Yes
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps Firstrade TradeStation
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 Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Firstrade TradeStation
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
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 Yes
Stock App Charting Firstrade TradeStation
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 45
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info No No
Trading Platforms Firstrade TradeStation
Active Trading Platform info TradeStation 10
Desktop Trading Platform info No Yes
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 50 341
Stock Chart Features Firstrade TradeStation
Charting - Adjust Trades on Chart info No Yes
Charting - Indicators / Studies info 102 294
Charting - Drawing Tools info 8 23
Charting - Notes info No Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info No Yes
Charting - Corporate Events info No Yes
Charting - Custom Date Range info No Yes
Charting - Custom Time Bars info No Yes
Charting - Automated Analysis info No Yes
Charting - Save Profiles info No Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 6 12
Charting - Custom Studies info No Yes
Day Trading Firstrade TradeStation
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Stocks info No Yes
Ladder Trading info No Yes
Trade Hotkeys info No Yes
Level 2 Quotes - Stocks info No Yes
Trade Ideas - Backtesting info No Yes
Trade Ideas - Backtesting Adv info No Yes
Short Locator info No Yes
Order Liquidity Rebates info No Yes
Research Overview Firstrade TradeStation
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes No
Screener - Stocks info Yes Yes
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes Yes
Stock Research Firstrade TradeStation
Stock Research - PDF Reports info 1 0
Stock Research - Earnings info Yes No
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Firstrade TradeStation
ETFs - Strategy Overview info Yes No
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 No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Firstrade TradeStation
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 Yes
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 TradeStation
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info No Yes
Option Chains - Total Columns info 8 29
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info No Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info No Yes
Option Probability Analysis Adv info Yes Yes
Option Positions - Greeks info No Yes
Option Positions - Greeks Streaming info No Yes
Option Positions - Adv Analysis info No Yes
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info No Yes
Banking Firstrade TradeStation
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 TradeStation
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
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 TradeStation
Overall 4/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 2/5 Stars
Education 3.5/5 Stars 3/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review TradeStation Review
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