Firstrade vs TradeStation 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.
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 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 |
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Stock Trading | Yes | Yes |
Margin Trading | Yes | Yes |
Fractional Shares | Yes | No |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | No | Yes |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025
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 |
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|
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | Yes |
Desktop Platform (Mac) | No | No |
Paper Trading | No | Yes |
Watch Lists - Total Fields | 50 | 341 |
Charting - Indicators / Studies | 102 | 294 |
Charting - Drawing Tools | 8 | 23 |
Platforms & Tools |
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Dive deeper: 7 Best Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025
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 |
|
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | No | No |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | No | No |
Education (Bonds) | No | No |
Paper Trading | No | Yes |
Videos | Yes | Yes |
Webinars | Yes | Yes |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
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 |
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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 | 45 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
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 |
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Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.00 | $0.60 |
Options Exercise Fee | $0.00 | $14.95 |
Options Assignment Fee | $0.00 | $5.95 |
IRA Annual Fee | $0.00 | $35.00 |
IRA Closure Fee | $0.00 | $50.00 |
Dive deeper: Best Free Trading Platforms for 2025
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 |
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Streaming Time & Sales | No | Yes |
Streaming TV | No | No |
Direct Market Routing - Stocks | No | Yes |
Level 2 Quotes - Stocks | No | Yes |
Trade Ideas - Backtesting | No | Yes |
Trade Ideas - Backtesting Adv | No | Yes |
Short Locator | No | Yes |
Dive deeper: Best Day Trading Platforms for 2025
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 |
|
|
---|---|---|
Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
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 |
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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 |
|
|
---|---|---|
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 2025
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.
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
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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0 of 5Overall Rating | Firstrade | TradeStation | |
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Overall |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease Of Use |
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Winner | check_circle | ||
Review | Firstrade Review | TradeStation Review |
Broker Screenshots | Firstrade | TradeStation | |
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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 | |
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Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | $0.00 | $0.01 | |
Mutual Fund Trade Fee | $0 | $14.95 | |
Options (Per Contract) | $0.00 | $0.60 | |
Futures (Per Contract) | (Not offered) | $1.50 | |
Broker Assisted Trade Fee | $19.95 | $25 |
Margin Rates | Firstrade | TradeStation | |
---|---|---|---|
Margin Rate Under $25,000 | 13.75% | 13.0% | |
Margin Rate $25,000 to $49,999.99 | 13.50% | 13.0% | |
Margin Rate $50,000 to $99,999.99 | 13.00% | 12.5% | |
Margin Rate $100,000 to $249,999.99 | 12.50% | 12.0% | |
Margin Rate $250,000 to $499,999.99 | 12.50% | 12.0% | |
Margin Rate $500,000 to $999,999.99 | 12.50% | 7.5% | |
Margin Rate Above $1,000,000 | 12.50% | 7.5% |
Account Fees | Firstrade | TradeStation | |
---|---|---|---|
IRA Annual Fee | $0.00 | $35.00 | |
IRA Closure Fee | $0.00 | $50.00 | |
Account Transfer Out (Partial) | $55.00 | $125.00 | |
Account Transfer Out (Full) | $75.00 | $125.00 | |
Options Exercise Fee | $0.00 | $14.95 | |
Options Assignment Fee | $0.00 | $5.95 |
Investment Options | Firstrade | TradeStation | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Shares | Yes | No | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 4 | |
Futures Trading | No | Yes | |
Forex Trading | No | No | |
Crypto Trading | No | No | |
Crypto Trading - Total Coins | 0 | 0 | |
Mutual Funds (No Load) | 15460 | 800 | |
Mutual Funds (Total) | 19666 | 4000 | |
Bonds (US Treasury) | Yes | Yes | |
Bonds (Corporate) | Yes | Yes | |
Bonds (Municipal) | Yes | Yes | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | No | No | |
International Countries (Stocks) | 0 | 0 |
Order Types | Firstrade | TradeStation | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | Yes | Yes | |
Order Type - Trailing Stop | Yes | Yes | |
Order Type - OCO | Yes | Yes | |
Order Type - OTO | Yes | Yes | |
Order Type - Broker Assisted | Yes | Yes |
Beginners | Firstrade | TradeStation | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | No | No | |
Education (Options) | Yes | Yes | |
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 | Yes | |
Webinars (Archived) | Yes | Yes | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | No | No |
Stock Trading Apps | Firstrade | TradeStation | |
---|---|---|---|
iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | No | |
Trading - Stocks | Yes | Yes | |
Trading - After-Hours | Yes | Yes | |
Trading - Simple Options | Yes | Yes | |
Trading - Complex Options | Yes | Yes | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | Yes | Yes |
Stock App Features | Firstrade | TradeStation | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
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 | Yes |
Stock App Charting | Firstrade | TradeStation | |
---|---|---|---|
Charting - After-Hours | No | Yes | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 81 | 45 | |
Charting - Study Customizations | Yes | Yes | |
Charting - Stock Comparisons | No | No |
Trading Platforms | Firstrade | TradeStation | |
---|---|---|---|
Active Trading Platform | TradeStation 10 | ||
Desktop Trading Platform | No | Yes | |
Desktop Platform (Mac) | No | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | Yes | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 50 | 341 |
Stock Chart Features | Firstrade | TradeStation | |
---|---|---|---|
Charting - Adjust Trades on Chart | No | Yes | |
Charting - Indicators / Studies | 102 | 294 | |
Charting - Drawing Tools | 8 | 23 | |
Charting - Notes | No | Yes | |
Charting - Index Overlays | Yes | Yes | |
Charting - Historical Trades | No | Yes | |
Charting - Corporate Events | No | Yes | |
Charting - Custom Date Range | No | Yes | |
Charting - Custom Time Bars | No | Yes | |
Charting - Automated Analysis | No | Yes | |
Charting - Save Profiles | No | Yes | |
Trade Ideas - Technical Analysis | Yes | Yes | |
Charting - Study Customizations | 6 | 12 | |
Charting - Custom Studies | No | Yes |
Day Trading | Firstrade | TradeStation | |
---|---|---|---|
Streaming Time & Sales | No | Yes | |
Streaming TV | No | No | |
Direct Market Routing - Stocks | No | Yes | |
Ladder Trading | No | Yes | |
Trade Hotkeys | No | Yes | |
Level 2 Quotes - Stocks | No | Yes | |
Trade Ideas - Backtesting | No | Yes | |
Trade Ideas - Backtesting Adv | No | Yes | |
Short Locator | No | Yes | |
Order Liquidity Rebates | No | Yes |
Research Overview | Firstrade | TradeStation | |
---|---|---|---|
Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | No | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Bonds | Yes | No | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | No | |
Screener - Mutual Funds | Yes | No | |
Screener - Bonds | Yes | No | |
Misc - Portfolio Allocation | Yes | Yes |
Stock Research | Firstrade | TradeStation | |
---|---|---|---|
Stock Research - PDF Reports | 1 | 0 | |
Stock Research - Earnings | Yes | No | |
Stock Research - Insiders | Yes | No | |
Stock Research - Social | Yes | No | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | Yes | No | |
Stock Research - SEC Filings | Yes | No |
ETF Research | Firstrade | TradeStation | |
---|---|---|---|
ETFs - Strategy Overview | Yes | No | |
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 | No | |
ETFs - Morningstar StyleMap | Yes | No | |
ETFs - PDF Reports | Yes | No |
Mutual Fund Research | Firstrade | TradeStation | |
---|---|---|---|
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 | Yes | |
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 | TradeStation | |
---|---|---|---|
Option Chains - Basic View | Yes | Yes | |
Option Chains - Strategy View | Yes | Yes | |
Option Chains - Streaming | No | Yes | |
Option Chains - Total Columns | 8 | 29 | |
Option Chains - Greeks | 5 | 5 | |
Option Chains - Quick Analysis | No | Yes | |
Option Analysis - P&L Charts | Yes | Yes | |
Option Probability Analysis | No | Yes | |
Option Probability Analysis Adv | Yes | Yes | |
Option Positions - Greeks | No | Yes | |
Option Positions - Greeks Streaming | No | Yes | |
Option Positions - Adv Analysis | No | Yes | |
Option Positions - Rolling | Yes | Yes | |
Option Positions - Grouping | No | Yes |
Banking | Firstrade | TradeStation | |
---|---|---|---|
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 | TradeStation | |
---|---|---|---|
Phone Support (Prospect Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | Yes | |
Live Chat (Prospect Customers) | Yes | Yes | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | No | No |
Overall | Firstrade | TradeStation | |
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Overall |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Education |
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Ease Of Use |
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Winner | check_circle | ||
Review | Firstrade Review | TradeStation Review |