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Comparison eToro vs Firstrade
The InvestorGreg.net broker comparisons assess over a dozen different brokers, finding the best online trading brokers. This comparison page compares eToro vs Firstrade. Is eToro or Firstrade a better online broker?
Firstly, let’s compare commission fees provided by these brokers for regular transactions. eToro has a commission fee of 0.09% spread per side, and Firstrade has a commission fee of $0. You can read more detailed information on commission fees in the online broker reviews.
It is important for investors to know what types of online trading broker supports and what tools they can use for trading. Let’s compare them. Stocks Trading, ETFs Trading, Forex Trading, Crypto Trading are provided to customers by eToro and Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading are provided by Firstrade. Concerning the platforms, eToro 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. eToro was founded in 2007 in Cyprus, and it is regulated by CySEC, FCA, ASIC. And Firstrade was founded in 1985 in United States, and it is regulated by SEC and FINRA. We can withdraw funds from eToro with the help of Bank Wire, Visa/Mastercard, and its withdrawal fee is $25. 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 eToro is within 1 business day, and that one in Firstrade is 2-3 business days.
As a result, the rating of eToro is 4.4 stars versus that of Firstrade of 3.9 stars.