Alpaca vs Firstrade Comparison: Fees, Features, and More (2026)
Alpaca and Firstrade are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.
| Feature | Alpaca | Firstrade |
|---|---|---|
| Website | https://alpaca.markets/ | https://www.firstrade.com/ |
| Broker Type | API-first self-clearing broker-dealer (Trading API for retail/algo; web dashboard available) | Discount (self-directed online brokerage) |
| Trading: Stock & ETF? | Yes | Yes |
| ETF & Stock commission | $0 commission (retail US stocks/ETFs); plus SEC/FINRA/CAT fees. Elite Smart Router: $0.0005–$0.004/share | $0 online ($19.95 broker-assisted) |
| Fractional Shares? | Yes (from $1 notional; 2,000+ US equities) | Yes (most U.S. stocks/ETFs; $5 min) |
| Percent Allocations? | Yes, via API | No |
| Crypto Trading? | Yes (most US states via API/dashboard; 24/7) | No |
| Crypto Fees | Maker/taker 0.15%/0.25% (under $100k 30d vol) to 0%/0.10% ($100M+); on received asset | N/A |
| Options Trading? | Yes (Levels 1-3 equity/ETF; index options live) | Yes |
| Options Fee | $0 commission retail equity/ETF options; index $0.50/contract + ORF/OCC/exchange pass-throughs | $0 commission and $0/contract; plus pass-through ORF (~$0.02/contract from Jul 2026) and SEC sell fees |
| Bond Trading Available? | No (Broker API partners only; not Trading API/dashboard retail) | Yes (web only; net yield basis/markup) |
| Receives payment for order flow (PFOF)? | Yes (receives PFOF rebates) | Yes |
| Interface: Web trading? | Yes web dashboard; no official mobile app (third-party/TradingView yes) | Yes |
| Desktop trading? | No | No |
| API Trading? | Yes (Alpaca Trading API) | No |
| Mutual Funds: Offered? | No | Yes |
| Total Mutual Funds | None | 11,000+ |
| NTF Mutual Funds | None | 11,000+ |
| Non-NTF Fund Fee | N/A | $0 online; $19.95 broker-assisted (no-load) |
| Early Redemption Fee? | N/A | No ($19.95 if held <90 days) |
| Redemption Hold (Days) | N/A | 90 days |
| Early Redemption Fee | N/A | $19.95 |
| Accounts: Margin Accounts? | Yes; all accounts opened as margin (limited margin if equity under $2,000). | Yes (approval; $2,000 min assets; not IRAs/custodial/ESA) |
| IRAs Offered? | Yes; Traditional and Roth IRAs for US tax residents (Trading API). SEP-IRA in agreements. | Yes (Traditional, Roth, SEP, SIMPLE, Rollover) |
| HSAs Offered? | No | No |
| Money Market Sweep? | Yes; opt-in FDIC Bank Sweep/High-Yield Cash for uninvested cash (variable APY, up to $1M FDIC). | Yes (FDIC sweep via Apex; 0.15%; not margin/SIMPLE IRA/ESA) |
| CDs Offered? | No | Yes (primary $30; secondary net yield) |
| Robo-Advisor: Offered | No | No |
| Robo-Advisor Service | N/A | N/A |
| Robo-Advisor Fees | N/A | N/A |
| Basics: Headquarters | San Mateo, CA | Flushing, NY |
| Year Founded | 2015 | 1985 |
| Clearing Firm | Self-clearing (Alpaca Clearing) | Apex Clearing Corporation |
| Local Branches? | No | Yes (Flushing, NY HQ office, Mon-Fri 10am-4pm ET); no nationwide network |
| New Account Minimum | $0 | $0 |
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