Robinhood vs Firstrade: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Robinhood and Firstrade This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 16, 2025

Robinhood

Firstrade

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Available Countries

United States

Yes

Europe

Yes

Latin America

India

China

Canada

United Kingdom

Yes

United States

Europe

Latin America

India

China

Canada

United Kingdom

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Robinhood is ideal if:

Ideal for multitasking investors. Seamlessly combine stock, ETF, and crypto trading in one app—great if you want everything under one roof without jumping between platforms.
Perfect for beginners seeking simplicity. Offers a clean, intuitive interface, low entry with fractional investing, and no commission distractions—ideal if you're starting your crypto journey.
Less suitable for advanced crypto users. Lacks sophisticated tools and deep crypto selection compared to dedicated exchanges—so if you’re into in-depth analysis or niche tokens, it may feel limiting.

Firstrade is ideal if:

Perfect if you value simplicity and self-led growth — Firstrade shines for investors who want a straightforward platform enhanced by rich educational content and intuitive tools like Options Wizard and FirstradeGPT.
Great for cost-conscious traders focused on the US market — It delivers commission-free trading across stocks, ETFs, options, and mutual funds, ideal if you prioritize low ongoing costs and trade U.S. securities.
Not ideal if you need advanced or global asset access — The platform doesn’t offer futures, forex, crypto, IPOs, or international markets, so it's not suited for highly diversified or exotic investment strategies.

Robinhood isn’t ideal if:

You want full self-custody of your crypto. You can't withdraw or transfer crypto to your own wallet in the main app, restricting flexibility and personal control.
You need wide crypto variety or advanced trading tools. Supported coins are limited and tools are basic—less compelling if you're seeking diverse assets or deep trading features like derivatives, margin, or complex orders.
You prioritize seamless withdrawals and regulatory clarity. Past issues with withdrawal restrictions and regulatory settlements suggest cautiousness—especially if access to assets and transparency are top priorities.

Firstrade isn’t ideal if:

If you seek automated or advisor-led services — Firstrade doesn’t provide AI-driven trading automation, robo-advice, or personalized financial planning options.
If you need access to non-U.S. or exotic markets — It excludes futures, forex, international equities, and advanced asset classes, limiting your global exposure opportunities.
If you prioritize sleek navigation and advanced macroscopic insights — The platform’s layout can feel cluttered, with limited portfolio tracking and broader market analytics visible at a glance.

Fees & Total Costs

Spot Maker/Take

Robinhood uses a simplified fee model based on a sliding scale of monthly trading volume rather than explicit maker/taker tiers—starting around 0.85% for lower volumes and decreasing as volume grows, with no native token discounts.

Firstrade does not operate on a crypto exchange-style maker/taker fee model since it primarily offers commission-free trading for stocks, ETFs, options, and mutual funds; there are no volume-based discounts tied to a native token.

Futures/Derivatives

Robinhood recently introduced futures trading, with futures contracts priced per contract rather than via maker/taker percentages—futures access comes with a fixed per-contract cost depending on your account tier, and there’s no ongoing funding rate as seen in perpetuals.

Firstrade does not support trading in futures, options on crypto, or any leveraged derivative contracts, so there are no maker/taker or funding fees in this category.

Average Spreads on Liquid Pairs

Spreads on major pairs like BTC and ETH typically fall between 0.5% and 1%, reflecting the small markup embedded in Robinhood’s “commission-free” model.

As Firstrade does not currently offer direct spot cryptocurrency trading, there are no applicable spreads for BTC/USDT or ETH/USDT pairs within its platform.

Fiat Deposits & Withdrawals

You can deposit via bank transfer or debit card with fees of up to 1.5%, depending on method and instant options; standard bank transfers are often free or low-cost, and processing times are comparable to other digital brokerages.

Deposits and withdrawals are processed via ACH, wire transfers, and check requests; ACH is typically free and fast (1–2 business days), while wires may have a fee and take 1–3 days depending on the bank.

On-chain Withdrawals

Crypto withdrawals to external wallets don’t carry Robinhood fees—which means you only pay the usual network (gas) fees, which fluctuate based on blockchain congestion.

Since Firstrade does not facilitate direct on-chain crypto transfers, there are no blockchain network withdrawal fees for BTC, ETH, TRX, or other tokens.

Hidden Costs

There are no inactivity or conversion fees, but indirect costs can arise from spreads, payment-for-order-flow execution, and instant funding options that bundle in surcharges beyond visible pricing.

The main extra cost to be aware of is currency conversion for non-USD accounts; Firstrade does not charge inactivity or expedited account verification fees.

Real-World Cost Example: “€500 BTC

buying €500 of BTC—You’d pay Robinhood’s embedded spread (typically ~0.5–1%) plus any small fee based on your volume tier; if you then withdrew BTC on-chain, you’d pay the network (gas) fee on that transfer.

This action cannot be performed directly on Firstrade, as it does not provide native crypto purchasing; acquiring BTC would require an external platform, where costs would depend on that provider’s commission, spread, and withdrawal fee structure.

Crypto Offering & Trading Features

Number of Coins & Pairs

About 28 cryptos in the U.S.; over 40 in Europe, covering top-volume names like BTC, ETH, SOL and popular altcoins. Limited pairing structure compared to full exchanges.

Firstrade offers trading in approximately 38–41 cryptocurrencies, focusing on spot pairs only—there’s no full order book with crypto-to-crypto pairings, just single-asset buys priced in USD on their platform.

Product Range

Offers spot trading, newly launched crypto perpetual futures (Europe only), staking for ETH & SOL, and tokenized U.S. stocks & ETFs (Europe). No margin, options, lending, copy trading, grid bots, or automated DCA.

Firstrade supports only spot cryptocurrency trading; it does not support margin, perpetuals, futures, options, ETFs on crypto, staking, lending, copy trading, grid bot tools, or automated DCA programs.

Liquidity

Exact 24h volume and order book depth not published—but leading pairs (BTC, ETH) benefit from Robinhood’s broader user base, though liquidity may be thinner than deep-tier centralized exchanges.

Firstrade does not disclose actual 24-hour volume or order book depth data for crypto; trading occurs via their internal system with instant settlement but without traditional exchange-level liquidity metrics.

Tools

Basic order types (limit, market); lacks OCO or complex conditional orders. Charting tools are simple, and there’s no native TradingView or public API/WS support yet—advanced traders may find features limited.

Their crypto offering includes basic order types, real-time quotes, charts, and research features, but lacks advanced tools such as stop/OCO orders, advanced charting, native TradingView integration, alerts, or API/WS access for crypto.

Geographic Restrictions by Product

Derivatives like perpetual futures and tokenized stocks/ETFs available only to European users; U.S. users can stake crypto but don’t yet access tokenized or futures products.

Crypto trading is available only to users in the United States; there are no crypto markets or services offered outside U.S. jurisdictions.

Innovation

Strong push into tokenization and self-custody—rolling out its own Layer-2 blockchain and Robinhood Chain, along with flexible staking options (unstake anytime), positioning itself as a crypto-native super-app.

Firstrade has not rolled out innovation tools like launchpad/launchpool, nor any flexible vs blocked crypto-earned programs—its crypto offerings remain simple and limited to direct spot purchases.

Security, Regulation & Custody

Operating Entity & Jurisdiction

Robinhood Crypto services are operated under Robinhood Crypto, LLC, a U.S.-based company founded in 2013, headquartered in Menlo Park, California.

The crypto service is delivered through Firstrade Crypto LLC, a U.S.-based subsidiary operating under parent company Firstrade Securities Inc., founded in 1985 and headquartered in Flushing, New York.

Licenses/Registration

The platform holds a New York BitLicense and operates under U.S. financial regulations, with additional compliance under EU frameworks like MiCA for its European crypto services.

Firstrade Securities operates as a registered broker-dealer under FINRA and the SEC; crypto trading itself is facilitated by Apex Crypto LLC, acting under regulatory standards but without explicit VASP or MiCA licensing.

Custody

Robinhood uses internally managed custodial storage, asserting ownership remains with the user; public proof-of-reserves or third-party audit details aren’t disclosed, and cold storage allocation is not specified.

Cryptocurrency custody is handled by Apex Crypto LLC as a third-party provider—not held on Firstrade’s own infrastructure. There’s no publicly shared proof of reserves, audit reports, or stated cold-storage percentages.

Insurance & Protection Funds

There’s no public insurance covering crypto holdings, and accounts are not SIPC- or FDIC-protected when it comes to digital assets.

While traditional account assets benefit from SIPC and possibly FDIC protections, crypto holdings are not covered under these programs and have no dedicated insurance or extra custodian protection.

Incident History

The platform has dealt with several notable issues—including a past SEC and California settlement over withdrawal restrictions, a 2021 data breach of personal information, and regulatory fines—though the SEC crypto investigation has since been closed.

Firstrade hasn’t suffered publicized hacks or major suspensions tied to its crypto platform; however, it recently received FINRA censure and a fine for misleading communications about crypto offerings via an affiliate.

Risk Controls

Basic safeguards like two-factor authentication are implemented, but features like IP/email whitelisting, sub-accounts, or granular API permissions aren’t prominently offered for crypto accounts.

Firstrade enforces strong security measures including multi-factor authentication, SSL encryption, firewalls, fraud detection systems, phishing education, and a secure security center, but doesn’t highlight features like API permissions or sub-accounts for crypto.

Transparency

Robinhood does not provide periodic proof-of-reserves, public wallets, or formal service-level agreements (SLA), and overall transparency around custody operations remains minimal.

There’s no public monthly reporting or wallet audit data available for crypto holdings. Users rely on Firstrade’s Online Protection Guarantee for unauthorized trades, yet there’s no SLA or public wallet addresses disclosed.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

You can deposit via standard bank (ACH) transfers or debit cards; amounts and limits vary by account history, with bank transfers typically taking 2–5 business days and debit cards offering faster access subject to processing speeds and internal checks.

Firstrade supports fiat deposits via ACH, wire transfer, check, and transfers from other brokerages; ACH from U.S. bank accounts is fee-free and takes a couple of business days, wires are faster but involve sending-bank fees, and check deposits vary by type and processing, with some available immediately.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

Identity verification is mandatory to start trading crypto—Robinhood maintains a single-tier KYC process rather than clear “Basic” or “Advanced” tiers, and withdrawal/trading limits adjust automatically based on verification completeness and account activity.

There’s no formal tiered KYC structure; account opening requires ID verification, and once verified, users can access full services—there are no intermediate “basic” or “advanced” levels with differing limits.

Withdrawals

Withdrawals are capped (e.g., up to ~$5,000 in crypto or 10 transfers per 24 hours in the U.S.), subject to settlement hold times of up to a few business days, and only standard network formats are supported—some tokens or non-standard formats may be restricted.

Withdrawals are available via ACH, check, or wire—ACH (up to $50,000 per day) is free and takes 1–2 business days, checks may take up to two weeks depending on delivery, and wires cost a fee and take several days; crypto token withdrawals (e.g. ERC20/TRC20) are not supported.

Customer Support

Support is via email and in-app forms with variable response times; there’s no dedicated 24/7 chat team, but users have access to a help center and FAQ base for self-service.

Support is offered via email and U.S. phone during business hours, complemented by a Help Center with FAQs—there’s no 24/7 live chat, and response times and knowledge base depth are moderate and office-hour dependent.

Languages & Localization

The platform operates primarily in English, with pricing shown in local fiat (USD or EUR); regulatory adherence is aligned to U.S. and EU standards depending on your region.

The platform and mobile app support English, Simplified Chinese, and Traditional Chinese; the interface displays USD values only, with no localized support for Spanish or Euro-based users—reflecting its U.S.-centric design.

App Quality & Stability

The app is generally stable and user-friendly, though occasional delays or outages have occurred during peaks—overall, Robinhood pushes frequent updates to improve reliability and functionality.

The Firstrade app (iOS/Android) is well-rated, noted for intuitive navigation and sync across devices, though some users report occasional crashes; regular updates enhance features and UX, but no official crash-rate metrics are disclosed.

Experience, Performance & Ecosystem

UX/UI

The app shines with a minimalist, approachable design—big tappable cards, clean layouts, and subtle motion cues make navigation intuitive even for newcomers, though there’s no separate “Lite” or “Pro” mode to shift complexity.

Firstrade delivers a clean, beginner-friendly interface that helps new users get started quickly, though it doesn’t offer distinct “Lite” or “Pro” modes; advanced traders may find the layout functional but not deeply customizable.

Performance

While generally responsive, Robinhood has historically faced latency and system strain during periods of extreme trading volume; backend upgrades have since improved stability, but occasional delays or access queues may still occur in peak volatility.

Firstrade offers solid performance under normal conditions, but during high-volatility events, users sometimes note slight delays in order execution; account verification remains swift even during surges, with KYC queues rarely causing major hold-ups.

Education

Robinhood offers educational content via its in-app help sections and “Learn” modules—but lacks advanced tools like a demo environment, simulator, or content in languages beyond English, limiting onboarding for non-English speakers.

The platform provides a rich library of written and video educational resources for investing concepts, though it lacks a dedicated simulator or demo trading environment and does not yet offer educational content in Spanish.

Community

There’s no native forum or official Telegram/Discord community, but Robinhood includes referral incentives and relies on user groups external to its platform; community interaction happens mostly off-app.

Firstrade does not operate official community channels like Discord or Telegram. It did run a referral program in the past, but that has been discontinued, and users must rely on formal help centers rather than peer-driven forums.

Integrations

Robinhood does not support third-party integrations like TradingView, external trading bots, tax tools, or accounting software—traders work within the native platform without plug-in flexibility.

Firstrade recently integrated advanced research tools from Trading Central, but doesn’t support direct TradingView charting, bot trading, or built-in tax/accounting integrations—users rely on manual methods or third-party tools.

Who Each One Is Best For

Robinhood Crypto suits casual or mobile-first investors who value simplicity and convenience in U.S. or European markets; advanced traders or those seeking deep tools and community interaction may find it too basic.

Firstrade shines with investors who value a reliable, easy-to-use platform with educational support and occasional advanced tools—ideal for self-directed U.S. investors prioritizing simplicity over complex trading setups.