Robinhood vs Firstrade Comparison: Fees, Features, and More (2026)
Robinhood 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 | Robinhood | Firstrade |
|---|---|---|
| Website | https://robinhood.com/ | https://www.firstrade.com/ |
| Broker Type | Online discount brokerage (mobile app, web, Legend) | Discount (self-directed online brokerage) |
| Trading: Stock & ETF? | Yes | Yes |
| ETF & Stock commission | $0 commissions (SEC/FINRA sell fees may apply) | $0 online ($19.95 broker-assisted) |
| Fractional Shares? | Yes ($1 min; most NMS stocks/ETFs) | Yes (most U.S. stocks/ETFs; $5 min) |
| Percent Allocations? | No | No |
| Crypto Trading? | Yes (US-wide via Robinhood Crypto, LLC; all states, DC, PR, USVI) | No |
| Crypto Fees | MM routing: $0 commissions (RH rebate in spread); exchange routing: 0.00-0.95% volume-tiered maker/taker; transfers $0 + network fees | N/A |
| Options Trading? | Yes | Yes |
| Options Fee | $0 commissions for stock/ETF options; $0.35 Gold/$0.50 non-Gold per index contract plus regulatory/exchange fees | $0 commission and $0/contract; plus pass-through ORF (~$0.02/contract from Jul 2026) and SEC sell fees |
| Bond Trading Available? | No (individual bonds/fixed-income not supported; bond ETFs/CEFs available) | Yes (web only; net yield basis/markup) |
| Receives payment for order flow (PFOF)? | Yes (receives PFOF/rebates from market makers for equities, options, and crypto) | Yes |
| Interface: Web trading? | Yes (web including Legend browser platform; iOS/Android mobile apps) | Yes |
| Desktop trading? | No; Robinhood Legend is a free browser-based (web) platform, not downloadable. | No |
| API Trading? | Yes for crypto (official US Crypto Trading API); no official stocks/equities trading API. | No |
| Mutual Funds: Offered? | No | Yes |
| Total Mutual Funds | 0 | 11,000+ |
| NTF Mutual Funds | 0 | 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 | Yes (approval; $2,000 min assets; not IRAs/custodial/ESA) |
| IRAs Offered? | Yes (Traditional and Roth; no SEP) | Yes (Traditional, Roth, SEP, SIMPLE, Rollover) |
| HSAs Offered? | No | No |
| Money Market Sweep? | Yes | Yes (FDIC sweep via Apex; 0.15%; not margin/SIMPLE IRA/ESA) |
| CDs Offered? | No | Yes (primary $30; secondary net yield) |
| Robo-Advisor: Offered | Yes (Robinhood Strategies hybrid managed portfolios) | No |
| Robo-Advisor Service | Robinhood Strategies | N/A |
| Robo-Advisor Fees | 0.25% AUM/yr; Gold ($5/mo): 0% over $100k ($250/yr cap). $50 min. ETF expenses extra. | N/A |
| Basics: Headquarters | Menlo Park, CA | Flushing, NY |
| Year Founded | 2013 | 1985 |
| Clearing Firm | Robinhood Securities, LLC | 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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