Updated September 28, 2026 · BrokerCue Editorial Team
ChoiceTrade vs Firstrade
ChoiceTrade vs Firstrade: the differences
| Compare |  ChoiceTrade |  Firstrade |
|---|---|---|
| Minimum deposit | $100 | $0Lower |
| Account fee | $10 | $0Lower |
| Markets | Stocks, ETFs, Options | Stocks, ETFs, Options, FundsCovers more |
| Regulators | SIPC | SIPC, FINRACovers more |
| Options contract fee | $0.40 | $0Lower |
| Platforms | ChoiceTrade Direct Pro, ChoiceTrade Elite, Mobile Apps | Web, iOS, Android, IPad |
| Inactivity fee | Not confirmed | $0 |
| Deposit and withdrawal fees | Not confirmed | Free for bank transfers, $25 for wire transfers |
| Account types | Not confirmed | IRA, Roth IRA, Joint |
Same on both: Stock trade fee ($0), Investor protection (SIPC up to USD 500,000).
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Key differences
- Firstrade scores higher overall: 9.5 vs 8.9.
- Regulators: only Firstrade offers FINRA.
- Founded is lower at Firstrade: 1985 vs 2000.
- Minimum deposit is lower at Firstrade: $0 vs $100.
- Account fee is lower at Firstrade: $0 vs $10.
- Options contract fee is lower at Firstrade: $0 vs $0.40.
- Markets: only Firstrade offers Funds.
- Platforms: only ChoiceTrade offers ChoiceTrade Direct Pro, ChoiceTrade Elite, Mobile Apps.
- Platforms: only Firstrade offers Web, iOS, Android.
- Support channels: only ChoiceTrade offers Email.
Our verdict on each
ChoiceTrade
ChoiceTrade runs commission-free stock and ETF dealing, with an account fee of $10 and a minimum deposit of $100. It suits experienced US traders who want a long-standing, SIPC protected broker and do not mind paying to hold the account. Options cost $0.40 per contract.
Firstrade
Firstrade is a US commission-free broker for retail savers who want retirement accounts and low costs in the same place. Protection is listed as SIPC up to USD 500,000, the minimum deposit is $0, and the trade-off is a market list limited to US equities, funds and options.
Score breakdown
| Area | ChoiceTrade | Firstrade |
|---|---|---|
| Cost | 8.9Trade fee of $0 is the cheapest measure, offset by an account fee of $10 and an options fee of $0.40 per contract | 9.5HigherStock trades cost $0 and options contracts $0; transfers run Free for bank transfers, $25 for wire transfers. |
| Offer | 9.0 | 9.4Higher |
| Trust | 8.9 | 9.6Higher |
Positions in our rankings
| Ranking | ChoiceTrade | Firstrade |
|---|---|---|
| Stock and ETF brokers | 156 of 471 | 47 of 471 |
| Options trading platforms | 55 of 103 | 11 of 103 |
Where each is licensed and available
| Country | ChoiceTrade | Firstrade |
|---|---|---|
| United States | SIPC SIPC member 52511 | SIPC SIPC member 34642 |
Available in 1 country for both.
Sources behind this comparison
ChoiceTrade
- choicetrade.com: 12 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
Firstrade
- firstrade.com: 12 facts, checked September 26, 2026
- brokerchooser.com: 3 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
Every fact side by side
| Fact | ChoiceTrade | Firstrade |
|---|---|---|
| Features | Demo account, Mobile app | Demo account, Options, Mobile app, Fractional sharesCovers more |
| Pricing model | Commission free | Commission free |
| Audience | Experienced | Beginners, Experienced, Day tradersCovers more |
| Legal entity | LETSGOTRADE INC | FIRSTRADE SECURITIES INC |
| Headquarters | United States | United States |
| Founded | 2000 | 1985Lower |
| Support channels | Email, Phone | Phone, Help centre |
Where each stands against the rest
| Fact | ChoiceTrade | Firstrade | Median |
|---|---|---|---|
| Minimum deposit | $100above the median | $0below the median | $25 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $10above the median | $0at the median | $0 |
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Options contract fee | $0.40below the median | $0lowest quarter | $0.625 |
Median across 134 listed brokers.
Pros and cons
ChoiceTrade
Pros
- Stock trades carry a fee of $0 and rank first among 161 brands on that measure
- Members of SIPC, with protection of SIPC up to USD 500,000
- Trading platforms include ChoiceTrade Direct Pro, ChoiceTrade Elite and Mobile Apps, so orders can go from desktop to phone
Cons
- An account fee of $10 applies, which ranks 114 of 138 on that measure
- The minimum deposit of $100 ranks 148 of 213
- The audience is listed as experienced traders, so a first account may feel technical
Firstrade
Pros
- Regulated in the US by FINRA and SIPC, with protection stated as SIPC up to USD 500,000 and a membership record at SIPC member 34642.
- A traditional IRA, a Roth IRA and a joint account all sit in ira, roth ira and joint under the commission-free pricing in commission free, so retirement and shared accounts hold at the same cost.
- Fractional shares and a demo account sit in demo account, options and mobile app, which helps the beginners and day traders named in beginners, experienced and day traders start small.
Cons
- The market list in stocks, etfs and options covers stocks, ETFs, options and funds, a narrow range next to eToro at stocks, etfs and forex and CFI at stocks, etfs and forex.
- Live chat and email are not among the listed support channels (phone and help centre), which pair a phone line with a help centre.
- An ISA and a SIPP are not among the listed account types (ira, roth ira and joint), which cover a traditional IRA, a Roth IRA and a joint account.
Who each suits
ChoiceTrade
Who it suits
- Experienced traders who want commission-free stock and ETF dealing on a US account
- Investors who value SIPC protection and a long operating history
- Anyone who wants demo practice before committing real money
Who should look elsewhere
- eToro, which charges an account fee of $0
- CFI, which takes a minimum deposit of $0
- Vantage, whose minimum deposit is $5
Firstrade
Who it suits
- US savers who want commission-free stock and ETF trading inside a retirement account, since the list in ira, roth ira and joint covers an IRA and a Roth IRA.
- Investors who trade in small amounts, because fractional shares in demo account, options and mobile app work alongside a $0 entry point.
- Day traders in US equities, named in beginners, experienced and day traders with a mobile app among the platforms in Web, iOS and Android.
Who should look elsewhere
- Traders who want forex, CFDs or crypto alongside equities: eToro lists stocks, etfs and forex and CFI lists stocks, etfs and forex, while Firstrade stays within stocks, etfs and options.
- UK and European savers who need a tax wrapper, since ira, roth ira and joint names no ISA or SIPP. Vantage, which sets $5 as its entry point, is worth pricing alongside.
Country by country
| Country | ChoiceTrade | Firstrade |
|---|---|---|
| United States | Yes | Yes |
Questions about each
ChoiceTrade
What does it cost to trade stocks at ChoiceTrade?+
Stock dealing is commission free, with a trade fee of $0. That is the measure on which the brand ranks 1 of 161, so trading itself adds nothing to the cost of a position.
Is there an account fee or minimum deposit?+
Yes. The account fee is $10 and the minimum deposit is $100. On account fee the brand ranks 114 of 138, so this is where it costs more than cheaper rivals.
Firstrade
What does it cost to trade stocks and options?+
Stock trades cost $0 and the options contract fee is $0, so nothing is charged per trade on either side. The pricing model listed is commission free, which matches that, and the same terms apply to stocks and options contracts. A reader comparing quotes will find the same line on both markets.
Are there account or inactivity fees?+
The account fee is $0 and the inactivity fee is $0, so an account can sit open and untouched without an annual charge or a dormant penalty. That suits a saver who funds a retirement account and does not trade every month, since holding a small balance costs nothing beyond the trades themselves.
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