Firstrade vs Schwab International

Costs: Both US brokers (SEC/FINRA-regulated) charge $0 commission on stocks and ETFs and require no minimum deposit. The decisive difference is options: Firstrade trades even options contracts entirely commission-free ($0), whereas Schwab charges $0.65 per options contract. For pure options traders, Firstrade is therefore the cheaper choice.

Products and platform: Schwab offers the markedly broader range — stocks, options, futures, ETFs, mutual funds, bonds and forex — and, via the TD Ameritrade acquisition, the powerful thinkorswim platform (Desktop, Web and Schwab Mobile App) with professional charting and options-analysis tools. Firstrade is limited to stocks, options, ETFs, mutual funds and bonds through its own Firstrade Web platform and app, which the data notes is less advanced; futures and forex are absent.

Profile and verdict: Firstrade (rated 4.0/5, founded 1985 in New York) is a pioneer of commission-free trading for cost-conscious self-directed investors. Schwab (4.6/5, founded 1971 in Westlake TX) is a US financial giant with over 50 years of experience, extensive research and one of the market's strongest platforms. Those who want to trade options at zero cost choose Firstrade; those who need futures, forex and the professional thinkorswim platform are better served by Schwab. Both offerings target US customers.