Comparison Charles Schwab vs Firstrade
A dozen different brokers were comparatively assessed on InvestorGreg.net, and the best online trading brokers were found. Here, we compare Charles Schwab vs Firstrade. Which of them: Charles Schwab or Firstrade a better online broker?
Firstly, let’s compare commission fees provided by these brokers for regular transactions. The commission fee of Charles Schwab on regular transactions of the stock exchange is $4.95, and Firstrade has a commission fee of $0. When analyzing trading options, the commission fees of Charles Schwab is $4.95 + $0.65 per contract, and that one of Firstrade is $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 Charles Schwab provides customers with Stocks Trading, Penny Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Robo Advisor, and Firstrade provides customers with Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading. Concerning the platforms, Charles Schwab uses Desktop Platform (Windows), Desktop Platform (MacOS), 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. Charles Schwab was established in 1973 in United States, and it is regulated by SIPC. And Firstrade was established in 1985 in United States, and it is regulated by SEC and FINRA. Withdrawal of funds from Charles Schwab can be done using Bank Wire, Visa/Mastercard with a withdrawal fee of $0. And Firstrade provides the ability to withdraw funds using Bank Wire with a withdrawal fee of $30 domestic US, $50 international. The time for withdrawal in Charles Schwab is 5 days, and that one in Firstrade is 2-3 business days.
Overall, Charles Schwab boasts 4.1 stars versus Firstrade 3.9 stars.