Compare
Firstrade vs Robinhood
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Firstrade leads
- 1
- Robinhood leads
- 2
- Level
- 8
Of 11 scored facts, Firstrade leads on 1, Robinhood on 2, and 8 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Firstrade |  Robinhood |
|---|---|---|
| Fee per contract | $0 per contract | $0 per contract |
| Firstrade, Regulatory fees apply | Robinhood, Index contracts and other fees extra | |
| Exercise and assignment | Free | Free |
| Approval | Naked putsBest | Spreads |
| Firstrade, Up to naked short options | Robinhood, Up to defined-risk spreads | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | No | No |
| Spreads in an IRA | No | No |
| Portfolio margin | Not published | Not published |
| Margin rate | 11.50% | 5.05%Best |
| Platforms | Web, Mobile | Web, Mobile |
| Paper trading | Not published | Not published |
| 24/7 support | Yes | Yes |
| Countries | US persons, plus residents of 27 listed countries | US only (SSN, US address; citizen, permanent resident or valid visa) |
| QuantWheel | Not connected | Sync-onlyBest |
| Robinhood, Reads the account; you place the orders | ||
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Firstrade$0 per contract · free exercise · naked puts
Firstrade opens options accounts for residents of the United States, the United Kingdom, Germany, Singapore, India and Mexico, among the 9 countries this directory covers. It charges $0 per contract (Regulatory fees apply). Exercise and assignment are free. It approves up to naked short puts, not naked calls. It trades on Web, Mobile. It is not connected to QuantWheel.
Robinhood$0 per contract · free exercise · spreads
Robinhood opens options accounts for residents of the United States only. It charges $0 per contract (Index contracts and other fees extra). Exercise and assignment are free. It approves up to defined-risk spreads. It trades on Web, Mobile. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Firstrade$0.04 a trade, under 0.1% of your premium
- $3.67 a year
- Robinhood$0.07 a trade, under 0.1% of your premium
- $6.64 a year
$2.97 a year less at Firstrade
Not counted because Firstrade does not publish them: clearing fee, FINRA trading activity fee, platform fee, inactivity fee. Not counted because Robinhood does not publish them: inactivity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Firstrade vs Robinhood