Comparison Binomo vs Firstrade
The InvestorGreg.net broker comparisons assess over a dozen different brokers, finding the best online trading brokers. This comparison page compares Binomo vs Firstrade. Is Binomo or Firstrade a better online broker?
First of all, we’ll compare the commission fees of the two brokers. Let’s analyze the commission fees on trading options. Binomo has a commission fee of none, Firstrade has a commission fee of $0. You can read more detailed information on commission fees in the online broker reviews.
Investors should always know about types of online trading supported by broker and about tools provided by them in trading. It is very important information as well. Let’s compare them. are Binomo provides customers with Options Trading, and Firstrade provides customers with Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading. Concerning the platforms, Binomo uses Web Platform, Android App, iOS App, while Firstrade uses Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App.
In conclusion, when comparing the two online brokers, we should pay our attention to the year and country of foundation, the regulatory authorities and ways to withdraw funds. Binomo was established in 2014 in Seychelles, and it is regulated by International Financial Commission. And Firstrade was established in 1985 in United States, and it is regulated by SEC and FINRA. We can withdraw funds from Binomo with the help of Bank Wire, Visa/Mastercard, Cryptocurrency, and its withdrawal fee is free. And Firstrade provides the ability to withdraw funds with the help of Bank Wire, and its withdrawal fee is $30 domestic US, $50 international. The time for withdrawal in Binomo is within 3 business days, and that one in Firstrade is 2-3 business days.
As a result, the rating of Binomo is 3.9 stars versus that of Firstrade of 3.9 stars.