Firstrade vs Tradestation Comparison: Fees, Features, and More (2026)
Firstrade and Tradestation 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 | Firstrade | Tradestation |
|---|---|---|
| Website | https://www.firstrade.com/ | https://www.tradestation.com/ |
| Broker Type | Discount (self-directed online brokerage) | Discount |
| Trading: Stock & ETF? | Yes | Yes |
| ETF & Stock commission | $0 online ($19.95 broker-assisted) | $0; routing/clearing fees may apply |
| Fractional Shares? | Yes (most U.S. stocks/ETFs; $5 min) | No |
| Percent Allocations? | No | No |
| Crypto Trading? | No | Yes |
| Crypto Fees | N/A | Tiered maker/taker pricing based on account balance |
| 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 | $0.80/contract standard tier; $0.40/contract multi-leg |
| Bond Trading Available? | Yes (web only; net yield basis/markup) | Yes; Treasuries, corporate, and municipal bonds |
| Receives payment for order flow (PFOF)? | Yes | Yes |
| Interface: Web trading? | Yes | Yes |
| Desktop trading? | No | Yes; TradeStation Desktop/Web/Mobile |
| API Trading? | No | Yes; TradeStation WebAPI and FIX APIs |
| Mutual Funds: Offered? | Yes | Yes |
| Total Mutual Funds | 11,000+ | Over 2,000 |
| NTF Mutual Funds | 11,000+ | Not publicly stated |
| Non-NTF Fund Fee | $0 online; $19.95 broker-assisted (no-load) | $14.95 |
| Early Redemption Fee? | No ($19.95 if held <90 days) | Varies by fund |
| Redemption Hold (Days) | 90 days | Fund-specific |
| Early Redemption Fee | $19.95 | Fund-specific |
| Accounts: Margin Accounts? | Yes (approval; $2,000 min assets; not IRAs/custodial/ESA) | Yes |
| IRAs Offered? | Yes (Traditional, Roth, SEP, SIMPLE, Rollover) | Yes; Traditional, Roth, SEP, SIMPLE, and Rollover |
| HSAs Offered? | No | No |
| Money Market Sweep? | Yes (FDIC sweep via Apex; 0.15%; not margin/SIMPLE IRA/ESA) | No |
| CDs Offered? | Yes (primary $30; secondary net yield) | No |
| Robo-Advisor: Offered | No | No |
| Robo-Advisor Service | N/A | None |
| Robo-Advisor Fees | N/A | Not applicable |
| Basics: Headquarters | Flushing, NY | Plantation, FL |
| Year Founded | 1985 | 1982 |
| Clearing Firm | Apex Clearing Corporation | TradeStation Securities, Inc. (self-clearing) |
| Local Branches? | Yes (Flushing, NY HQ office, Mon-Fri 10am-4pm ET); no nationwide network | No; corporate offices only |
| New Account Minimum | $0 |
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