Charles Schwab vs Firstrade Comparison: Fees, Features, and More (2026)

Charles Schwab 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.

Head-to-Head Comparison: Charles Schwab vs Firstrade (2026)
Feature Charles Schwab Firstrade
Website https://www.schwab.com/ https://www.firstrade.com/
Broker Type Full-service Discount (self-directed online brokerage)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 online (listed stocks/ETFs) $0 online ($19.95 broker-assisted)
Fractional Shares? Yes (most U.S.-listed stocks/ETFs, from $1) Yes (most U.S. stocks/ETFs; $5 min)
Percent Allocations? Yes (Personalized Portfolio Builder) No
Crypto Trading? Yes, via Schwab Crypto (BTC/ETH currently; not NY/LA/territories) No
Crypto Fees 0.75% of notional value (min $0.01) per buy/sell N/A
Options Trading? Yes Yes
Options Fee $0 online commission + $0.65 per contract $0 commission and $0/contract; plus pass-through ORF (~$0.02/contract from Jul 2026) and SEC sell fees
Bond Trading Available? Yes Yes (web only; net yield basis/markup)
Receives payment for order flow (PFOF)? Yes (receives PFOF rebates) Yes
Interface: Web trading? Yes Yes
Desktop trading? Yes, thinkorswim desktop (Windows/Mac; free for brokerage clients) No
API Trading? Yes, Trader API (Individual) for self-directed retail accounts (orders, data; via developer.schwab.com) No
Mutual Funds: Offered? Yes Yes
Total Mutual Funds ~14,500 from 600+ families (incl. 4,000+ NTF) 11,000+
NTF Mutual Funds 4,000+ (no-load via OneSource & others) 11,000+
Non-NTF Fund Fee Up to $74.95/buy online ($0 sell); some $49.95; 8.5% cap, <$100 exempt $0 online; $19.95 broker-assisted (no-load)
Early Redemption Fee? No; $49.95 Schwab fee on NTF funds held ≤90 days (some exemptions) No ($19.95 if held <90 days)
Redemption Hold (Days) 90 days (NTF/OneSource funds; some Schwab Funds exempt) 90 days
Early Redemption Fee $49.95 online/automated phone; $49.95 + $25 broker-assisted $19.95
Accounts: Margin Accounts? Yes ($2,000 min. cash or marginable securities) Yes (approval; $2,000 min assets; not IRAs/custodial/ESA)
IRAs Offered? Yes (Traditional, Roth, SEP, Rollover, Inherited, Custodial, SIMPLE) Yes (Traditional, Roth, SEP, SIMPLE, Rollover)
HSAs Offered? Yes (HSBA via participating HSA providers; no standalone Schwab HSA) No
Money Market Sweep? Yes (Cash Features Program: Bank Sweep or Schwab One Interest) Yes (FDIC sweep via Apex; 0.15%; not margin/SIMPLE IRA/ESA)
CDs Offered? Yes (brokered CDs via Schwab CD OneSource) Yes (primary $30; secondary net yield)
Robo-Advisor: Offered Yes No
Robo-Advisor Service Schwab Intelligent Portfolios® (Premium also offered) N/A
Robo-Advisor Fees $0 advisory (standard); $300 one-time + $30/mo (Premium); ETF OERs 0.02–0.15%. Mins $5k/$25k. N/A
Basics: Headquarters Westlake, TX Flushing, NY
Year Founded 1971 1985
Clearing Firm Charles Schwab & Co., Inc. (self-clearing) Apex Clearing Corporation
Local Branches? Yes, more than 420 branches in 48 U.S. states Yes (Flushing, NY HQ office, Mon-Fri 10am-4pm ET); no nationwide network
New Account Minimum $0 $0

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