Platform Comparison

Firstrade vs TD Ameritrade

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

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.

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Higher Rated
TD

TD Ameritrade

★4.7

The legendary thinkorswim platform lives on under Schwab. All TD Ameritrade accounts have been migrated—new customers should open a Schwab account directly.

Full Review

Firstrade vs TD Ameritrade: Fees, Minimums & DRIP Compared

FeatureFirstradeTD Ameritrade
Our Rating4.2/54.7/5
Trading Commissions$0N/A
Account Minimum$0N/A
Fractional SharesN/AN/A
DRIPFreeVia Schwab
Research ToolsBasicGood
Best ForOptions Income InvestorsFormer TD Ameritrade Customers

Firstrade vs TD Ameritrade: Pros and Cons

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

TD Ameritrade

Pros

  • + thinkorswim platform retained and integrated into Schwab
  • + All former TD Ameritrade accounts successfully migrated
  • + Commission-free trading continues under Schwab
  • + 400+ technical analysis tools in thinkorswim
  • + Trading simulator for practice without risk

Cons

  • - TD Ameritrade no longer accepts new accounts
  • - TD Ameritrade API permanently shut down
  • - Some interface changes during Schwab transition
  • - Former TD-only features may differ slightly

Which Is Better for Dividend Investors: Firstrade or TD Ameritrade?

Choose Firstrade if you...

  • Are in Firstrade's core audience: options income investors

Choose TD Ameritrade if you...

  • Are in TD Ameritrade's core audience: former td ameritrade customers
  • Prefer a higher-rated overall platform

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