Updated September 29, 2026 · BrokerCue Editorial Team
Firstrade vs Robinhood
What sets them apart
| Compare |  Firstrade |  Robinhood |
|---|---|---|
| Markets | Stocks, ETFs, Options, Funds | Stocks, ETFs, Options, Futures, Crypto |
| Regulators | SIPC, FINRA | Bank of Lithuania (LSC), LT BL, SIPC |
| 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 | $100 outgoing transfer |
| Platforms | Web, iOS, Android, IPad | Robinhood app, Robinhood Legend |
| Margin rate | Not confirmed | 3.95% |
| Maximum retail leverage | Not confirmed | 10X |
Same on both: Minimum deposit ($0), Stock trade fee ($0), Account fee ($0), Inactivity fee ($0), Options contract fee ($0), Account types (IRA, Roth IRA, Joint).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- Firstrade scores higher overall: 9.5 vs 9.4.
- Regulators: only Firstrade offers FINRA.
- Regulators: only Robinhood offers Bank of Lithuania (LSC), LT BL.
- Founded is lower at Firstrade: 1985 vs 2013.
- Robinhood is licensed in 1 more country.
- Markets: only Firstrade offers Funds.
- Markets: only Robinhood offers Futures, Crypto.
- Platforms: only Firstrade offers Web, iOS, Android.
- Platforms: only Robinhood offers Robinhood app, Robinhood Legend.
- Features: only Firstrade offers Demo account.
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.
Robinhood
Robinhood suits first-time investors and small, regular investors who want nothing charged for holding or trading. It is the cheapest way in on our data, with a minimum deposit of $0, no account fee and no inactivity charge, under the Bank of Lithuania and SIPC.
Score breakdown
| Area | Firstrade | Robinhood |
|---|---|---|
| Cost | 9.5Stock trades cost $0 and options contracts $0; transfers run Free for bank transfers, $25 for wire transfers. | 9.6HigherStock trades cost $0, options contracts $0, the account fee is $0 and inactivity is $0. |
| Offer | 9.4Higher | 9.3 |
| Trust | 9.6Higher | 9.3 |
Cost in a real example
A year: 5,000 invested, 4 US stock trades a month
Firstrade
$0
48 × $0 + 1 × $0
Robinhood
$0
48 × $0 + 1 × $0
Both come to the same total.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
What each covers
| Markets | Firstrade | Robinhood |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| Crypto | No | Yes |
| Funds | Yes | No |
| Account types | Firstrade | Robinhood |
|---|---|---|
| IRA | Yes | Yes |
| Roth IRA | Yes | Yes |
| Joint | Yes | Yes |
What we checked
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
Robinhood
- finder.com: 7 facts, checked September 26, 2026
- esma.europa.eu: 4 facts, checked September 26, 2026
- mymillennialguide.com: 4 facts, checked September 26, 2026
- financer.com: 2 facts, checked September 26, 2026
- robinhood.com: 1 fact, checked September 26, 2026
How they place
| Ranking | Firstrade | Robinhood |
|---|---|---|
| Stock and ETF brokers | 38 of 490 | 13 of 490 |
| Investment platforms and apps | 9 of 85 | 1 of 85 |
| Options trading platforms | 10 of 103 | 1 of 103 |
| Low-fee brokers | 4 of 11 | 1 of 11 |
| Brokers for beginners | 13 of 88 | 6 of 88 |
| IRA providers | 7 of 43 | 1 of 43 |
Every fact side by side
| Fact | Firstrade | Robinhood |
|---|---|---|
| Features | Demo account, Options, Mobile app, Fractional shares | Crypto, Fractional shares, Options, Futures, Mobile app |
| Pricing model | Commission free | Commission free, Low feesCovers more |
| Audience | Beginners, Experienced, Day tradersCovers more | Beginners, Day traders |
| Legal entity | FIRSTRADE SECURITIES INC | Robinhood Europe UAB |
| Headquarters | United States | Lithuania |
| Founded | 1985Lower | 2013 |
| Support channels | Phone, Help centre | Not confirmed |
Where each stands against the rest
| Fact | Firstrade | Robinhood | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $0below the median | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $0at the median | $0at the median | $0 |
| Inactivity fee | $0at the median | $0at the median | $0 |
| Margin rate | Not confirmed | 3.95%lowest quarter | 8.79% |
| Options contract fee | $0lowest quarter | $0lowest quarter | $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.
Robinhood
Pros
- Nothing to pay to open or hold an account, with an account fee of $0 and an inactivity fee of $0
- Trading a share costs $0, so a small first order is not eaten by commission
- You can start with a deposit of $0, lower than most brands on our data
Cons
- Leverage is available at 10X, which magnifies losses as well as gains
- Outgoing transfers carry a charge of $100 outgoing transfer
- Margin borrowing is priced at a margin rate of 3.95%, so interest adds to your cost
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.
Robinhood
Who it suits
- Beginners opening a first account with a small deposit
- Day-traders working in options, futures and crypto on mobile
- Retirement investors using an IRA, Roth IRA or joint account
Who should look elsewhere
- Vantage if a flat minimum deposit of $5 suits you better
- CFI if you want forex and CFDs alongside shares, since its markets cover stocks, etfs and forex
- eToro if social copy trading matters more than options and futures
Country by country
| Country | Firstrade | Robinhood |
|---|---|---|
| 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.
Robinhood
What does it cost to trade shares on Robinhood?+
Trading a share costs $0, and an options contract costs $0. There is also an account fee of $0 and an inactivity fee of $0, so nothing is taken for simply holding the account open. Borrowing on margin is charged at a margin rate of 3.95%, which is the main running cost if you use leverage.
Is there a minimum deposit to open a Robinhood account?+
The minimum deposit is $0, so you can open an account and place a small first order without funding a large balance. It is worth comparing that with the deposits other brands ask for before you commit, since the figure varies widely across the market. Outgoing transfers are charged at $100 outgoing transfer, so factor that in if you plan to move money out early.
Other options to compare
Other matchups
- Robinhood vs Nexo
- Firstrade vs Markets.com
- Firstrade vs Merrill Edge
- Firstrade vs Betterment
- Firstrade vs Webull
- Firstrade vs tastyfx
- Firstrade vs Composer
- Firstrade vs Global Prime
- Firstrade vs Public
- Firstrade vs JPMorgan Chase
- Firstrade vs Fennel
- Firstrade vs TradeStation
- Firstrade vs BMO InvestorLine
- Firstrade vs Capital.com
- Firstrade vs Trading 212
- Firstrade vs FBS
- Robinhood vs ActivTrades
- Robinhood vs DKB (Deutsche Kreditbank)
- Firstrade vs XTB
- Robinhood vs NAGA
- Robinhood vs UNest
- Firstrade vs eToro
- Firstrade vs LANDE
- Robinhood vs Linxea
- Robinhood vs Mintos
- Firstrade vs Afranga
- Firstrade vs Nectaro