Our Verdict

Choose Firstrade or E*TRADE as your online broker based on your investing priorities. Both offer commission-free stock and ETF trades but cater to different types of investors. Ultimately, decide based on your needs: Firstrade shines for cost-conscious traders, while E*TRADE offers a well-rounded experience and leading mobile apps for most investors.
Overall, E*TRADE provides a well-rounded experience with robust mobile apps and advanced trading platforms that cater to a wide range of investors. While Firstrade is ideal for cost-conscious traders, E*TRADE’s comprehensive features make it more appealing to most investors looking for versatility and sophistication.
Why Choose Firstrade

Select Firstrade if you are a budget-focused trader who prioritizes low fees. Firstrade offers $0 commissions on options trades, a rare feature in the industry, and a securities lending program that lets you earn extra income. Its platforms are streamlined and designed for cost-conscious traders, but keep in mind that its tools are more basic compared to E*TRADE.
Who Firstrade Is Best For
Choose Firstrade because you will:
- Benefit from $0 commissions on stocks, ETFs, options, and mutual funds
- Enjoy commission-free options trading
- Access full support in traditional and simplified Chinese
- Participate in Firstrade’s securities lending program
- Start with a streamlined platform and basic educational resources
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Who Firstrade Is Not Right For
Avoid Firstrade if you:
- Manage without some of the advanced charting, screening, and analysis tools that active traders may require.
- Navigate with Firstrade’s more limited research offerings compared to some competitors.
- Reconsider if you need forex or futures trading, as Firstrade does not offer these options.
- Plan around Firstrade’s customer service, which is not available around the clock.
Why Choose E*TRADE

Opt for E*TRADE if you want a comprehensive trading experience. E*TRADE provides advanced charting, screening tools, and third-party research, appealing to a broad range of investors. Its Power E*TRADE platform and mobile apps are particularly strong for options traders. You’ll also find a wider range of account types and investment products, including futures trading. If you’re looking for robust features and are open to paying slightly higher fees for options trades, E*TRADE is your best bet.
Who E*TRADE Is Best For
Choose E*TRADE to:
- Utilize the Power E*TRADE platform with its robust options analysis tools and an options-specific mobile app.
- Benefit from E*TRADE’s industry-leading mobile apps, designed for both casual investors and active traders.
- Access extensive educational content, including articles, videos, and webinars provided by E*TRADE.
- Leverage advanced charting, screening tools, and real-time data with the Power E*TRADE platform.
- Trade a diverse selection of assets, including stocks, ETFs, options, mutual funds, bonds, and futures.
Who E*TRADE Is Not Right For
Avoid E*TRADE for the following reasons:
- Manage with higher options fees compared to some competitors like Firstrade, despite E*TRADE’s commission-free stock and ETF trades.
- Reconsider if you need forex trading, as E*TRADE does not offer this option.
- Opt for alternatives if you want to purchase cryptocurrencies directly, as E*TRADE only offers crypto ETFs.
- Seek other platforms if you need access to trading on international exchanges, as E*TRADE does not provide this service.
Firstrade vs. E*TRADE: Main Differences
Firstrade excels in offering $0 commissions on stocks, ETFs, options, and mutual funds, making it the best choice for budget-focused traders. Its streamlined platforms and full Chinese language support make it accessible and cost-effective, particularly for those who prioritize low fees over advanced tools.
| Firstrade | E*TRADE |
Ideal For | Firstrade is ideal for cost-conscious traders, particularly those interested in options trading, who don’t need advanced tools or extensive research. Its streamlined platforms and rock-bottom fees make it attractive for frequent traders who want to minimize costs. Firstrade also caters well to Chinese-speaking investors with its full support in traditional and simplified Chinese. | E*TRADE, on the other hand, is better suited for a broader range of investors, from beginners to active traders. It’s particularly strong for options traders, mobile-focused investors, and those seeking robust educational resources. E*TRADE’s advanced platforms and tools make it a good fit for active traders who need more sophisticated analysis capabilities. |
Pricing | ● Firstrade offers $0 commissions on stocks, ETFs, options, and mutual fund trades. This extends to options trades as well, which is unusual in the industry and can result in significant savings for options traders. ● Firstrade has no minimum account balance requirements for standard brokerage accounts. ● Firstrade’s margin rates range from 14.20% for balances under $10,000 to 12.20% for balances of $250,000 or more. ● Firstrade charges $6.95 for OTC stock trades, reduced to $4.95 for traders who execute 30+ trades per quarter. | ● E*TRADE also offers $0 commissions on stock, ETF, and mutual fund trades. However, options trades incur a fee of $0.65 per contract, reduced to $0.50 per contract for traders who execute 30+ trades per quarter. ● E*TRADE has no minimum account balance requirements for standard brokerage accounts. ● E*TRADE’s margin rates are similar, also ranging from 14.20% for balances under $10,000 to 12.20% for balances of $250,000 or more. ● E*TRADE charges $6.95 for OTC stock trades, also reduced to $4.95 for traders who execute 30+ trades per quarter. |
Integrations | Firstrade’s integrations are more limited compared to E*TRADE. It offers basic integration with TurboTax for tax reporting purposes.
| E*TRADE provides more extensive integrations, including:
● TurboTax for tax reporting ● Bloomberg TV streaming within the platform ● Integration with various third-party research providers like Morningstar, Thomson Reuters, and MarketEdge |
Standout Features | ● Commission-Free Options Trading: Firstrade is one of the few brokers to offer truly commission-free options trading, with no per-contract fees. ● Securities Lending Program: Investors can earn additional income by lending their stocks to other financial institutions through Firstrade’s program. ● Chinese Language Support: Full support in traditional and simplified Chinese sets Firstrade apart for Chinese-speaking investors. | ● Power E*TRADE Platform: This advanced platform offers sophisticated charting, options analysis tools, and real-time data for active traders. ● Two Mobile Apps: E*TRADE offers both a standard mobile app and the Power E*TRADE mobile app for more advanced traders. ● Extensive Educational Resources: E*TRADE provides a wide range of educational content, including articles, videos, and webinars. ● Futures Trading: Unlike Firstrade, E*TRADE offers futures trading for investors interested in these products. |
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Firstrade vs. E*TRADE: Standout Features
E*TRADE stands out with its Power E*TRADE platform, which offers sophisticated charting, options analysis tools, and real-time data. The availability of two mobile apps, extensive educational resources, and the ability to trade futures give E*TRADE a distinct edge in terms of features.
Firstrade

- Utilize the Power E*Trade Platform: This advanced platform provides sophisticated charting capabilities, options analysis tools, and real-time data. Features like risk/reward probability charts, a strategy optimizer, and a spectral analysis tool are ideal for options traders.
- Choose Between Two Mobile Apps: E*TRADE offers a standard mobile app for casual investors and the Power E*TRADE mobile app for advanced traders. Both apps are highly rated and deliver a seamless trading experience on the go.
- Leverage Extensive Educational Resources: E*TRADE offers a comprehensive library of educational content, including articles, videos, webinars, and live events. Content is organized by life stages and investing topics, making it easy to find relevant information.
- Expand Your Investment Options With Futures Trading: Unlike Firstrade, E*TRADE offers futures trading, broadening the range of investment products available to you.
- Access Advanced Research And Analysis Tools: Benefit from third-party research from providers like Morgan Stanley, Morningstar, and Thomson Reuters. Use advanced screening tools for stocks, ETFs, and options to enhance your decision-making process.
- Enhance Your Options Trading With Robust Tools: The OptionsPlay tool generates trading ideas and analyzes potential trades, while the Spectral Analysis feature visualizes potential profits and losses for options strategies.
- Customize Your Dashboard: E*TRADE’s platforms allow you to create personalized dashboards with your most-used tools and information, enhancing your overall trading experience.
Firstrade vs. E*TRADE: How to Open an Account with Firstrade

- Visit the website
- Enter your phone number to receive a verification code
- Provide your personal details and email address
- Select the type of account you want and other required details
- Supply additional personal information for account verification
- Enter your phone number and choose a security question for added security
- Share your employment and financial information
- Set up your funding options and connection
- Review your application and submit
Keep in mind that there is a slight difference between the application process for U.S. and non-U.S. clients.
Firstrade vs. E*TRADE: How to Open an Account with E*TRADE

- Visit the website
- Select the type of account you wish to open
- Provide personal information such as your Social Security Number, residency status, and current employment details for verification purposes
- Choose your investment profile and preferences for margin trading
- Review your application thoroughly and proceed to create your E*TRADE account ID
Firstrade vs. E*TRADE: Pros and Cons
E*TRADE’s pros include robust platforms, industry-leading mobile apps, advanced research tools, and a wide range of investment products, outweighing the con of higher options fees. Firstrade’s cons, such as limited tools and research capabilities, make E*TRADE the better choice for those who value comprehensive features.
Firstrade

- Pros
- Offers $0 commissions on stocks, ETFs, options, and mutual fund trades
- Do not charge per-contract fees for options trades
- Earn additional income by lending your stocks to other financial institutions through Firstrade’s unique program.
- Provides Chinese language support
- Incurs low account minimum
- Cons
- Lacks some of the advanced charting, screening, and analysis tools
- Restricts product offerings
- Limits research
- Lacks 24/7 customer support
- Offers basic mobile app
- Limits educational content
E*TRADE

- Pros
- Presents both a user-friendly web platform and the more advanced Power E*TRADE platform
- Provides industry-leading mobile apps
- Motivates with extensive educational resources
- Acquire advanced research and analysis tools
- Allows a wide range of investment products
- Waives account minimum
- Cons
- Charges per-contract fees for options trades
- Do not offer forex trading
- Do not allow direct purchase of cryptocurrencies
- Limits international exchange trading
- Give low interest on uninvested cash
- Limits fractional share trading
Firstrade vs. E*TRADE: Customer Reviews
E*TRADE receives high praise for its mobile apps and the Power E*TRADE platform, which are frequently highlighted by active traders for their advanced features. While Firstrade is commended for its low costs, the lack of advanced tools often leads to less favorable reviews from experienced traders, giving E*TRADE the advantage in customer satisfaction.
Many users praise Firstrade for its low costs, particularly the commission-free options trading. Investors appreciate the ability to execute options trades without incurring per-contract fees. Chinese-speaking users often commend Firstrade for its language support, noting that it makes trading more accessible for them. However, more experienced traders sometimes criticize the lack of advanced tools and research capabilities. Some users also mention that the mobile app could be improved with more features.
E*TRADE’s mobile apps receive high praise from many users, who appreciate the comprehensive trading capabilities available on their smartphones. The Power E*TRADE platform is often cited as a standout feature, with active traders appreciating its advanced charting and analysis tools. Options traders frequently mention the quality of E*TRADE’s options analysis tools and the OptionsPlay feature. A few users mention frustration with the low interest rates on uninvested cash.
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Firstrade vs E*TRADE Competitors
While Firstrade and E*TRADE are both popular online brokers, they face competition from several other platforms in the industry. Here are some notable competitors and how they compare:
- Charles Schwab: Charles Schwab is a full-service broker that offers $0 commission trades on stocks and ETFs, similar to Firstrade and E*TRADE. It provides a wide range of investment products, including stocks, ETFs, options, mutual funds, and more.
- Fidelity: Fidelity is another full-service broker offering $0 commission trades on stocks and ETFs. It’s known for its strong research offerings and customer service.
- Interactive Brokers: Interactive Brokers is known for its advanced trading platform and low costs. It caters primarily to active and professional traders.
- Robinhood: Robinhood is a mobile-first platform known for its simplicity and commission-free trades.
- Webull: Webull is another mobile-focused platform offering commission-free trades and appealing to younger, tech-savvy investors.
Pro Tips
When choosing between Firstrade and E*TRADE, or considering other competitors, keep these tips in mind:
- Consider your investment products
- Evaluate the importance of mobile trading
- Consider customer service
- Look at the full cost picture
- Test the platforms
Recap
In summary, when deciding between Firstrade and ETRADE, consider your investment priorities and trading needs. Firstrade is ideal for cost-conscious traders, offering $0 commissions on stocks, ETFs, options, and mutual funds, making it perfect for frequent traders focused on minimizing costs.
It also provides unique features like commission-free options trading, a securities lending program, and comprehensive Chinese language support, though it lacks advanced trading tools and research capabilities.
On the other hand, ETRADE caters to a broader range of investors, providing advanced platforms and tools, including the Power ETRADE platform, extensive educational resources, and industry-leading mobile apps.
While ETRADE has slightly higher fees for options trading, it offers a comprehensive trading experience with features like futures trading and advanced research tools. Ultimately, choose Firstrade if you prioritize low costs and simplicity, and choose E*TRADE if you need a more robust trading platform and a wider range of investment products.
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