Updated September 29, 2026 · BrokerCue Editorial Team
Firstrade vs Kraken
What sets them apart
| Compare |  Firstrade |  Kraken |
|---|---|---|
| Minimum deposit | $0Lower | $1 |
| Markets | Stocks, ETFs, Options, Funds | Stocks, ETFs, Forex, Crypto, Futures |
| Regulators | SIPC, FINRA | Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI) |
| Investor protection | SIPC up to USD 500,000 | EU ICS up to EUR 20,000 |
| Deposit and withdrawal fees | Free for bank transfers, $25 for wire transfers | Free bank deposits, card 3.75% + 0.25 |
| Platforms | Web, iOS, Android, IPad | Kraken App, Kraken Pro, Kraken Desktop, Kraken Wallet |
| Account fee | $0 | Not confirmed |
| Inactivity fee | $0 | Not confirmed |
| Options contract fee | $0 | Not confirmed |
| Account types | IRA, Roth IRA, Joint | Not confirmed |
| Maximum retail leverage | Not confirmed | Up to 10x |
Same on both: Stock trade fee ($0).
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Key differences
- Firstrade scores higher overall: 9.5 vs 9.2.
- Regulators: only Firstrade offers SIPC, FINRA.
- Regulators: only Kraken offers Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority.
- Kraken is licensed in 1 more country.
- Minimum deposit is lower at Firstrade: $0 vs $1.
- Markets: only Firstrade offers Options, Funds.
- Markets: only Kraken offers Forex, Crypto, Futures.
- Platforms: only Firstrade offers Web, iOS, Android.
- Platforms: only Kraken offers Kraken App, Kraken Pro, Kraken Desktop.
- Features: only Firstrade offers Demo account, Options, Fractional shares.
Our verdict on each
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.
Kraken
Kraken suits beginners and experienced investors who want stocks, ETFs and crypto together through app and desktop access. Stock dealing is priced at $0 with entry at $1 and funding terms shown as Free bank deposits, card 3.75% + 0.25 for cost planning across small balance accounts.
Score breakdown
| Area | Firstrade | Kraken |
|---|---|---|
| Cost | 9.5HigherStock trades cost $0 and options contracts $0; transfers run Free for bank transfers, $25 for wire transfers. | 9.3Stock dealing is priced at $0 with entry at $1. |
| Offer | 9.4Higher | 9.0Coverage spans stocks, ETFs and forex accessed through Kraken App, Kraken Pro and Kraken Desktop. |
| Trust | 9.6Higher | 9.3Registers cite 1010381 and 31000270997766. |
Where they rank in our lists
| Ranking | Firstrade | Kraken |
|---|---|---|
| Stock and ETF brokers | 38 of 490 | 28 of 490 |
| Brokers for beginners | 13 of 88 | 10 of 88 |
Side by side, item by item
| Markets | Firstrade | Kraken |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| Options | Yes | No |
| Futures | No | Yes |
| Crypto | No | Yes |
| Funds | Yes | No |
Where each is licensed and available
| Country | Firstrade | Kraken |
|---|---|---|
| United States | SIPC SIPC member 34642 | SIPC SIPC member 71030 |
| Ireland | Not confirmed | Central Bank of Ireland (CBI) MiCA CASP 9845003D98SCC2851458 IE_CBI PSD_EMI IE_CBI!C453020 |
Where these facts come from
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
Kraken
- kraken.com: 9 facts, checked September 28, 2026
- support.kraken.com: 2 facts, checked September 28, 2026
Every fact side by side
| Fact | Firstrade | Kraken |
|---|---|---|
| Features | Demo account, Options, Mobile app, Fractional shares | Crypto, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Beginners, Experienced, Day tradersCovers more | Beginners, Experienced |
| Legal entity | FIRSTRADE SECURITIES INC | Not confirmed |
| Headquarters | United States | Not confirmed |
| Founded | 1985 | Not confirmed |
| Support channels | Phone, Help centre | Not confirmed |
Where each stands against the rest
| Fact | Firstrade | Kraken | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $1below the median | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $0at the median | Not confirmed | $0 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Options contract fee | $0lowest quarter | Not confirmed | $0.59 |
Median across 99 listed brokers.
Pros and cons
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.
Kraken
Pros
- Stock trades priced at $0 within a model shown as commission free.
- Entry at $1, below $50 at eToro for smaller starting balances.
- Coverage spans stocks, ETFs and forex, pairing stocks and ETFs with crypto and futures.
Cons
- Support runs on help centre only, without phone or live chat help found at many rivals.
- Card funding terms run Free bank deposits, card 3.75% + 0.25, which adds cost next to bank transfer options.
- Entry at $1 sits above $0 at ActivTrades and €0 at XTB for tight budgets.
Who each suits
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.
Kraken
Who it suits
- You want stocks plus crypto in stocks, ETFs and forex in a single login rather than an equity only account at XTB.
- You want app led dealing through Kraken App, Kraken Pro and Kraken Desktop with modest entry at $1 rather than higher entry at eToro at $50.
Who should look elsewhere
- You want phone or chat help rather than help centre only, consider XTB or ActivTrades for wider contact choice.
- You want the lowest cash entry rather than $1, consider ActivTrades at $0 or XTB at €0.
Country by country
| Country | Firstrade | Kraken |
|---|---|---|
| United States | Yes | No |
Questions about each
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.
Kraken
What does Kraken charge for stock trades+
Stock dealing is priced at $0 and Kraken describes its model as commission free. Bank funding is framed separately as Free bank deposits, card 3.75% + 0.25, so card use adds cost while bank transfer terms remain distinct. Check the fee schedule before placing orders.
What is the minimum deposit to open an account+
Account entry is set at $1. That level sits below $50 at eToro, yet above $0 at ActivTrades and €0 at XTB. It keeps starting balances modest while leaving room for funding charges.
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