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

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

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