Platform Comparison

Ellevest vs Firstrade

Compare Ellevest and Firstrade on fees, DRIP, fractional shares and research for dividend investing.

EL

Ellevest

★3

Ellevest discontinued its robo-advisor service in February 2025—existing accounts were transferred to Betterment. Private wealth management continues for $500K+ clients.

Full Review
Higher Rated
FT

Firstrade

★4.2

A pioneer of commission-free trading offering truly free options (no contract fees) and mutual funds—one of the most cost-effective brokers available.

Full Review

Ellevest vs Firstrade: Fees, Minimums & DRIP Compared

FeatureEllevestFirstrade
Our Rating3/54.2/5
Trading CommissionsN/A$0
Account MinimumN/A$0
Fractional SharesN/AN/A
DRIPN/AFree
Research ToolsAutomatedBasic
Best ForHigh-Net-Worth WomenOptions Income Investors

Ellevest vs Firstrade: Pros and Cons

Ellevest

Pros

  • + Private wealth management still available ($500K+ minimum)
  • + Existing robo clients transitioned to Betterment (solid alternative)
  • + Betterment offers similar features with good reputation
  • + Historical focus on women's financial needs was innovative
  • + Career coaching services continue separately

Cons

  • - Robo-advisor service discontinued February 2025
  • - Regular investors can no longer open new accounts
  • - $500K minimum for remaining wealth management services
  • - Transition to Betterment may not suit all former clients

Firstrade

Pros

  • + Commission-free stocks, ETFs, options, AND mutual funds
  • + No per-contract fees on options—truly free options trading
  • + Free dividend reinvestment program
  • + No account minimums or inactivity fees
  • + Securities lending lets you earn extra income on shares

Cons

  • - Very low 0.15% interest on uninvested cash
  • - Dated platform interface that can be hard to navigate
  • - No forex, futures, or cryptocurrency trading
  • - Limited research and analysis tools

Which Is Better for Dividend Investors: Ellevest or Firstrade?

Choose Ellevest if you...

  • Are in Ellevest's core audience: high-net-worth women

Choose Firstrade if you...

  • Are in Firstrade's core audience: options income investors
  • Prefer a higher-rated overall platform

Want the full breakdown of fees, DRIP, and research tools? Read our Ellevest review and Firstrade review.

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.