TradeZero or Firstrade – which is better for UK traders 2024? Compare TradeZero and Firstrade in this detailed breakdown of their platforms, features and fees.
TradeZero is a stock and ETF broker established in the Bahamas in 2015. Though the global entity is regulated offshore, the US subsidiary is overseen by FINRA with SIPC registration. The powerful proprietary trading software makes it a popular choice for active traders.
Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular online brokerage. It is also quick and easy to open a new account.
Pros
ZeroPro provides access to advanced charting features, instant alerts, customizable hotkeys and, for an extra monthly fee, OTC Level 2 markets
High intraday leverage up to 1:6 for global accounts with balances of $2,499+ and up to 1:4 for US clients
Four in-house platforms including a proprietary mobile app with real-time data streaming
Simple pricing structure; free or paid stock and options orders (eligibility requirements apply)
On-demand tutorial videos and live stream market insights
The US entity is registered with the FINRA and SIPC
Innovative solution to mark unused locates for credit
Pre-market and post-market trading hours
SIPC member
Low OTC fees
Crypto trading
Premarket trading
Accepts US traders
No minimum deposit
Commission-free investing
Regulated by SEC and FINRA
Multiple customer support options
Access to education, research, and tools
Stop limit and trailing stop orders supported
Mobile app with advanced features and analysis
Cons
TradeZero only facilitates trading US stocks, with UK, EU and other international markets unavailable
High deposit and withdrawal fees; $50 for outgoing and $25 for incoming (waived if over $500)
The TradeZero global entity has weaker regulatory oversight from the SCB of the Bahamas
A $59 monthly fee applies to the ZeroPro and ZeroWeb terminals
Customer support is available 24/7 with a responsive live chat
No copy trading
Some withdrawal fees
No 24/7 customer support
No forex or futures trading
No demo/paper trading account
Visa Credit/debit card deposits and withdrawals not accepted
Awards
Best for ETF & Active Investor Commission & Fees - 2019
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