Updated September 28, 2026 · BrokerCue Editorial Team
Firstrade vs TradeStation
Where Firstrade and TradeStation differ
| Compare |  Firstrade |  TradeStation |
|---|---|---|
| Inactivity fee | $0Lower | $10 |
| Markets | Stocks, ETFs, Options, Funds | Stocks, ETFs, Forex, Options, Futures, Crypto, Bonds, FundsCovers more |
| Regulators | SIPC, FINRACovers more | SIPC |
| Options contract fee | $0Lower | $0.50 |
| Deposit and withdrawal fees | Free for bank transfers, $25 for wire transfers | free deposits |
| Platforms | Web, iOS, Android, IPad | TradeStation desktop, Web, Mobile |
| Account types | IRA, Roth IRA, Joint | IRA, Joint, Corporate |
| Account fee | $0 | Not confirmed |
| Currency conversion fee | Not confirmed | 0.5% |
| Interest on cash | Not confirmed | 0.15% |
Same on both: Minimum deposit ($0), 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 9.2.
- Regulators: only Firstrade offers FINRA.
- Founded is lower at TradeStation: 1982 vs 1985.
- Inactivity fee is lower at Firstrade: $0 vs $10.
- Options contract fee is lower at Firstrade: $0 vs $0.50.
- Markets: only TradeStation offers Forex, Futures, Crypto.
- Platforms: only Firstrade offers iOS, Android, IPad.
- Platforms: only TradeStation offers TradeStation desktop, Mobile.
- Account types: only Firstrade offers Roth IRA.
- Account types: only TradeStation offers Corporate.
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.
TradeStation
TradeStation suits experienced traders who want one account spanning stocks, options, futures and forex, and it is headed in the US. Stock trades cost $0, options run $0.50 a contract, deposits are free deposits, and an inactivity fee of $10 applies to dormant accounts.
Score breakdown
| Area | Firstrade | TradeStation |
|---|---|---|
| Cost | 9.5HigherStock trades cost $0 and options contracts $0; transfers run Free for bank transfers, $25 for wire transfers. | 9.2Stock trades cost $0, deposits are free deposits and inactivity costs $10. |
| Offer | 9.4 | 9.4One account spans stocks, etfs and forex with ira, joint and corporate accounts and TradeStation desktop, web and mobile. |
| Trust | 9.6Higher | 9.2 |
What each covers
| Markets | Firstrade | TradeStation |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| Crypto | No | Yes |
| Bonds | No | Yes |
| Funds | Yes | Yes |
| Account types | Firstrade | TradeStation |
|---|---|---|
| IRA | Yes | Yes |
| Roth IRA | Yes | No |
| Joint | Yes | Yes |
| Corporate | No | Yes |
Positions in our rankings
| Ranking | Firstrade | TradeStation |
|---|---|---|
| Stock and ETF brokers | 38 of 490 | 95 of 490 |
| Investment platforms and apps | 9 of 85 | 21 of 85 |
| Options trading platforms | 10 of 103 | 35 of 103 |
| IRA providers | 7 of 43 | 15 of 43 |
Which one suits you
Pick Firstrade if cost, trust, inactivity fee, regulators, and options contract fee matter most.
Pick TradeStation if markets matter most.
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
TradeStation
- brokerchooser.com: 4 facts, checked September 26, 2026
- financer.com: 4 facts, checked September 26, 2026
- nerdwallet.com: 3 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- en.wikipedia.org: 2 facts, checked September 26, 2026
Every fact side by side
| Fact | Firstrade | TradeStation |
|---|---|---|
| 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 | Experienced, Day traders |
| Legal entity | FIRSTRADE SECURITIES INC | TRADESTATION SECURITIES INC |
| Headquarters | United States | United States |
| Founded | 1985 | 1982Lower |
| Support channels | Phone, Help centre | Email, Chat, Phone, Help centreCovers more |
Where each stands against the rest
| Fact | Firstrade | TradeStation | 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 | Not confirmed | $0 |
| Inactivity fee | $0at the median | $10above the median | $0 |
| Currency conversion fee | Not confirmed | 0.5%above the median | 0.4% |
| Options contract fee | $0lowest quarter | $0.50below the median | $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.
TradeStation
Pros
- One login covers stocks, etfs and forex, so equities, derivatives and bonds trade side by side without extra logins.
- Stock trades cost $0 and deposits are free deposits, so there is nothing extra to fund the account.
- Platforms run from TradeStation desktop, web and mobile, so charts and order tickets travel with you between desk and phone.
Cons
- An inactivity fee of $10 applies, so a dormant balance keeps being charged rather than left alone.
- Options contracts are charged at $0.50 each, even though the equity model is listed as commission free and low fees.
- Currency conversion costs 0.5%, so trading across currencies adds a cut to the trade price.
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.
TradeStation
Who it suits
- Experienced traders who already know which markets they want to reach and trade them often
- Day traders who need desktop, web and mobile order entry on one and the same account
- Retirement savers who want one account that also carries options, futures and forex markets
Who should look elsewhere
- Readers who trade a single asset class: CFI covers stocks, etfs and forex and stops short of the bonds and funds here
- Readers who prefer the eToro route, where stocks, etfs and forex leaves out the bond and fund side of this account
- Readers who want a published entry threshold: Vantage lists a minimum deposit of $5 against the $0 here
Country by country
| Country | Firstrade | TradeStation |
|---|---|---|
| United States | Yes | Yes |
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.
TradeStation
How much does TradeStation charge to buy shares?+
Stock trades are commission free at $0, and options are charged separately at $0.50 per contract. Currency conversion costs 0.5%, while deposits are free deposits, so the everyday cost of trading sits in the currency line rather than the share price.
Is my money protected at TradeStation?+
TradeStation sits under SIPC in the US, with investor protection of SIPC up to USD 500,000 and a member reference of SIPC member 48711. That cover applies to securities held if the firm fails, not to losses on a falling position.
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