Tradestation vs Firstrade Comparison: Fees, Features, and More (2026)
Tradestation 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 | Tradestation | Firstrade |
|---|---|---|
| Website | https://www.tradestation.com/ | https://www.firstrade.com/ |
| Broker Type | Discount | Discount (self-directed online brokerage) |
| Trading: Stock & ETF? | Yes | Yes |
| ETF & Stock commission | $0; routing/clearing fees may apply | $0 online ($19.95 broker-assisted) |
| Fractional Shares? | No | Yes (most U.S. stocks/ETFs; $5 min) |
| Percent Allocations? | No | No |
| Crypto Trading? | Yes | No |
| Crypto Fees | Tiered maker/taker pricing based on account balance | N/A |
| Options Trading? | Yes | Yes |
| Options Fee | $0.80/contract standard tier; $0.40/contract multi-leg | $0 commission and $0/contract; plus pass-through ORF (~$0.02/contract from Jul 2026) and SEC sell fees |
| Bond Trading Available? | Yes; Treasuries, corporate, and municipal bonds | Yes (web only; net yield basis/markup) |
| Receives payment for order flow (PFOF)? | Yes | Yes |
| Interface: Web trading? | Yes | Yes |
| Desktop trading? | Yes; TradeStation Desktop/Web/Mobile | No |
| API Trading? | Yes; TradeStation WebAPI and FIX APIs | No |
| Mutual Funds: Offered? | Yes | Yes |
| Total Mutual Funds | Over 2,000 | 11,000+ |
| NTF Mutual Funds | Not publicly stated | 11,000+ |
| Non-NTF Fund Fee | $14.95 | $0 online; $19.95 broker-assisted (no-load) |
| Early Redemption Fee? | Varies by fund | No ($19.95 if held <90 days) |
| Redemption Hold (Days) | Fund-specific | 90 days |
| Early Redemption Fee | Fund-specific | $19.95 |
| Accounts: Margin Accounts? | Yes | Yes (approval; $2,000 min assets; not IRAs/custodial/ESA) |
| IRAs Offered? | Yes; Traditional, Roth, SEP, SIMPLE, and Rollover | Yes (Traditional, Roth, SEP, SIMPLE, Rollover) |
| HSAs Offered? | No | No |
| Money Market Sweep? | No | 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 | None | N/A |
| Robo-Advisor Fees | Not applicable | N/A |
| Basics: Headquarters | Plantation, FL | Flushing, NY |
| Year Founded | 1982 | 1985 |
| Clearing Firm | TradeStation Securities, Inc. (self-clearing) | Apex Clearing Corporation |
| Local Branches? | No; corporate offices only | Yes (Flushing, NY HQ office, Mon-Fri 10am-4pm ET); no nationwide network |
| New Account Minimum | $0 |
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