Comparison of Trading212 vs Firstrade [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theTrading212 vs Firstrade comparison!

Your expert: Alejandro Borja

Trading212

Your expert: Xavier Tarrasó

Firstrade

Main points

Fees

Low 4/5

Regulated

FCA, CySEC

Demo account

Yes

Low 4/5

Fees

FINRA, SEC

Regulated

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.3 – Trading212 provides commission-free trading and a user-friendly platform. However, the 0.3% to 0.5% fee on currency conversion orders and inactivity fee are potential downsides .

3.5 – Firstrade charges a 1% fee on crypto trades, which is higher than some competitors. Despite this, its low fees on other investment options and user-friendly platform add value .

Level

Low 4/5

Brief explanation

Trading212 employs a straightforward fee structure with no commissions on most trading activities, particularly for CFD accounts. Users benefit from free deposits and withdrawals, making the platform financially accessible. However, there are fees associated with specific services. For instance, a 0.7% fee is charged on deposits exceeding €2,000 when using credit/debit cards or electronic wallets. Currency conversion carries a fee of 0.15% for Invest accounts and 0.5% for CFD accounts. Additionally, inactive accounts are charged £9, €9, or $9 after six months of inactivity .

Firstrade offers competitive and straightforward commission structures for cryptocurrency trading. The platform charges a flat fee of 1% for buying or selling cryptocurrencies, which is relatively high compared to some other exchanges but remains transparent without additional hidden fees. Trading Commissions Firstrade’s trading fee for cryptocurrencies is set at 1% of the trade value. This fee applies uniformly to all cryptocurrency transactions, ensuring that users are aware of the costs upfront. The simplicity of this fee structure is advantageous for those who prefer clarity and straightforward pricing. Other Fees Firstrade does not charge any deposit fees, making it cost-effective to add funds to your account. However, while withdrawals via ACH are free, wire transfers incur a fee of $25, which is something users should be mindful of when planning their fund withdrawals. Overall, Firstrade’s commission structure is designed to be transparent and easy to understand, with the primary cost being the 1% trading fee on all cryptocurrency transactions. This can be beneficial for traders who value simplicity and predictability in their trading costs.

Trading212

Year Founded: Trading212 was established with a solid foundation in the trading industry and has steadily grown its reputation over the years, ensuring a reliable and trustworthy platform for its users.
Number of Users: With millions of users worldwide, Trading212 has built a large and active community, reflecting its credibility and user satisfaction.
Regulation: Trading212 is regulated by the UK's Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), providing a strong layer of security and adherence to strict financial standards.
Customer Service: The platform offers comprehensive customer support, including a helpful community forum and various contact methods, ensuring that users can get assistance when needed.
Withdrawal and Deposit Policies: Trading212 supports a wide range of payment methods for deposits and withdrawals, including credit/debit cards, bank transfers, and e-wallets, making transactions easy and accessible for users.

Firstrade

Year Founded: Firstrade was established in 1985, making it one of the most experienced brokerage firms in the industry. With nearly four decades of operation, Firstrade has demonstrated stability and reliability through various market conditions.
Number of Users: Firstrade serves a large number of clients, reflecting its broad acceptance and trust within the investment community. The significant user base is a testament to its reliability and the trust it has earned over the years.
Security Methods: Firstrade employs stringent security measures to protect client accounts and personal information. The platform is regulated by top-tier authorities such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Additionally, Firstrade provides high investor protection through the Securities Investor Protection Corporation (SIPC), covering up to $500,000, including $250,000 for cash.
Regulation: Firstrade is fully regulated by the SEC and FINRA, ensuring compliance with strict industry standards. This regulation provides an added layer of security and transparency, assuring users that their investments are managed according to rigorous guidelines.
Customer Service: Firstrade offers robust customer service options, including phone and email support. Although not available 24/7, their customer service team is dedicated to providing helpful and relevant responses. This commitment to customer care enhances user confidence and satisfaction.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Trading212 does not have a native token.

Firstrade does not have a native token.

Earns

Trading212 does not offer staking or other earning options for cryptocurrencies. It provides trading through crypto CFDs .

Firstrade does not offer staking or earning options for cryptocurrencies. It focuses on trading a variety of digital assets .

NFT marketplace

Trading212 does not have an NFT marketplace.

Firstrade does not have an NFT marketplace.

Cripto/debit card

Trading212 does not offer a card for its clients .

Firstrade does not offer a card for its clients .

Payment methods

Transfers

Yes, Trading 212 accepts bank transfers for both deposits and withdrawals .

Yes, Firstrade accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, Trading212 accepts Mastercard for deposits.

No, Firstrade does not accept Mastercard for deposits.

Wire transfer

Yes, Wise is supported as a payment method .

Wise is not mentioned as a supported payment method .

Card

Yes, Trading 212 accepts credit/debit cards .

No, Firstrade does not accept credit/debit cards .

Comparative table

Trading212	Features	Firstrade
The platform allows users to start trading with as little as £1, making it highly accessible for beginners.	Minimum Trade	Firstrade allows low minimum trade amounts, making it accessible for beginners to start investing in cryptocurrencies.
Trading212 offers competitive fees with no commissions on real stock trades, but CFD trading involves spreads.	Trading and Transaction Fees	The platform offers competitive trading fees, although some users might find hidden costs associated with certain transactions.
Trading212 supports a limited selection of cryptocurrencies, which might not satisfy traders looking for a wide variety of digital assets.	Number of Cryptocurrencies	Firstrade supports over 30 cryptocurrencies, providing a good range of options for investors.
The platform does not offer direct crypto-to-crypto trading pairs, limiting the trading options available.	Crypto-to-Crypto Trading Pairs	While it offers a variety of cryptocurrencies, the number of available trading pairs is somewhat limited compared to other platforms.
Trading212 provides clear and comprehensive information about its fees, services, and regulatory status, ensuring transparency for users.	Website Transparency	Firstrade’s website is transparent and informative, clearly outlining fees, security measures, and available services.
Trading212 does not offer a card for its clients .	Credit/Debit Card	Firstrade does not offer a card for its clients .
Trading212 does not provide dedicated cryptocurrency storage solutions, as it primarily deals with CFDs rather than actual cryptocurrency ownership.	Storage Offering	Firstrade lacks a dedicated cryptocurrency wallet, requiring users to use third-party services for storing their digital assets.
There are no staking or rewards programs available on Trading212, limiting passive income opportunities for users.	Staking and Rewards	The platform currently does not offer staking or reward programs, which can be a downside for users looking to earn passive income.
Trading212 offers robust mobile and desktop applications with a user-friendly interface and advanced trading tools.	Mobile App and Desktop	Firstrade offers a highly rated mobile app and a robust desktop platform, ensuring a seamless trading experience across devices.
The platform offers good customer support through various channels, though there is room for improvement in response times.	Customer Service	Firstrade’s customer service is reliable but not available 24/7, which can be an inconvenience for users needing assistance outside business hours.
Deposits and withdrawals are straightforward and support multiple payment methods, though crypto withdrawals are not available.	Deposit and Withdraw	Firstrade offers a variety of deposit and withdrawal options, although the lack of instant processing for some methods can be a drawback.

Key features

Analysis tools

Trading 212 offers a web-based platform and mobile apps with many features, including technical indicators and charting tools. They also provide educational resources and a demo account for practice trading .

Firstrade offers a variety of tools and resources including research reports, market data and analysis, and educational resources such as webinars and articles .

Mobile APP

Yes, Trading 212 provides mobile apps for both Android and iOS devices, featuring many of the functionalities found on their web-based platform .

Yes, Firstrade offers a mobile app available for iOS and Android devices, designed for a seamless trading experience .

Security

Trading 212 is regulated by the FCA and CySEC, ensuring a high level of security. However, they do not provide basic security features like two-factor authentication, which could be a concern for some investors.

Firstrade is regulated by the SEC and FINRA in the United States, offering a high level of security. They follow strict security measures to protect client accounts and personal information.

Additional features

Trading212 allows trading of cryptocurrency CFDs with benefits like leverage and short selling. They offer a user-friendly platform with a demo account for practice. Trading212 supports a wide range of payment methods and provides low fees for trading CFDs on stocks, indices, commodities, and forex in addition to cryptocurrencies .

Firstrade offers trading on 38 popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Their platform is integrated with Apex Crypto for secure storage and trading. Firstrade provides a highly-rated mobile app for seamless trading on the go and features like real-time data and analytics, 24/7 trading, and instant fund access. They charge a high spot crypto fee of 1% of the trade value but provide a user-friendly experience for beginners .

Anonymity

Trading212 does not support anonymous accounts. The registration process includes providing personal details and identity verification.

Firstrade does not support anonymous accounts. The account opening process includes submitting personal details and verification documents .

Key points

Available cryptocurrencies

Trading212 supports trading in cryptocurrency CFDs. The available cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and other popular cryptocurrencies .

Firstrade provides access to 38 cryptocurrencies. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Stellar (XLM), Solana (SOL), Shiba Inu (SHIB), and more.

User-friendliness

Trading212 offers a user-friendly and fast platform for trading crypto CFDs. The account setup process is quick, and the platform supports multiple payment methods. While the range of cryptocurrencies available for trading is limited, Trading212’s intuitive design and ease of use make it a good option for beginners.

Firstrade offers a highly-rated mobile app for crypto trading, designed to provide a seamless and user-friendly experience. The platform supports a wide range of cryptocurrencies and allows for easy buying and selling. While it lacks a dedicated crypto wallet and some advanced features, its simplicity and accessibility make it a good choice for beginners looking to manage their crypto investments alongside other asset classes .

Value for money

Trading212 provides excellent value with commission-free trading and a user-friendly platform. However, its fee for credit/debit card deposits and a small commission on stock trades might be a downside for some users.

Firstrade offers a strong value proposition with low fees and no minimum deposit, making it accessible for beginners. However, its 1% trading fee on crypto is higher compared to some competitors, which could affect active traders.

Countries of operation

United Kingdom, European Union, available in most countries that allow crypto trading .

United States, Germany, United Kingdom, China, Singapore, Hong Kong .

Best for

Trading212 is best for beginner and intermediate traders looking for a user-friendly platform with commission-free trading of crypto CFDs. It’s suitable for those who want to start trading quickly and benefit from a wide range of other financial instruments.

Firstrade is best for US-based investors who want a straightforward, user-friendly platform to trade a variety of cryptocurrencies. Its mobile app and low fees make it a good option for beginners and those looking to manage their crypto investments alongside traditional assets.

Account

Trading

Trading212 supports crypto CFD trading with leverage, offering a straightforward and easy-to-use platform. It is ideal for beginners who want to start trading cryptocurrencies without owning them.

Firstrade has limited offerings in cryptocurrency trading, focusing primarily on traditional securities. It may not be the best option for dedicated crypto traders.

Deposit and withdrawal

Trading212 offers free deposits and withdrawals through a variety of methods, including bank transfers, credit/debit cards, and e-wallets. The process is typically fast and efficient.

Firstrade primarily supports deposits and withdrawals via bank transfers and checks. The process can be slower compared to other brokers, and international clients might face additional hurdles.

Account opening process

Trading212 offers a simple and fast account opening process. Users fill out an online form, provide personal and financial information, and submit verification documents. The process is fully digital and accounts are typically approved within one business day.

Opening an account with Firstrade involves completing an online application and submitting personal and financial information. Verification documents are required. The process can take a bit longer compared to other brokers, especially for international clients.

KYC required?

KYC is mandatory at Trading212. Users must submit identification documents and proof of address during the account opening process.

Firstrade mandates KYC verification. Users must provide personal identification documents and proof of address as part of the account opening process.

Customer Service

Trading212 offers customer support through live chat, email, and phone. The support is available 24/7 and is known for being responsive and helpful, providing users with timely and effective assistance.

Firstrade provides customer support via phone and email, but does not offer live chat. The support is available during regular business hours, and while it is generally helpful, the lack of live chat can be a drawback for some users.

Security

Firstrade is regulated by the SEC and FINRA in the United States, offering a high level of security. They follow strict security measures to protect client accounts and personal information.

Which of these exchanges is for you?

Alejandro Borja

As an expert at our website, I recommend Trading212 for beginners and casual traders who are looking to explore the world of cryptocurrency trading in a secure and user-friendly environment. The platform’s ease of use, competitive fees, and strong regulatory oversight make it a reliable choice. However, if you’re an advanced trader seeking a wide variety of cryptocurrencies or specialized features like staking, you might find the platform somewhat limited. Nonetheless, Trading212 is an excellent starting point for anyone new to crypto trading.

Xavier Tarrasó

As an expert on our website, I find Firstrade to be a reliable choice for anyone looking to start investing in cryptocurrencies. The platform offers a secure and user-friendly experience, with competitive trading fees and a robust mobile app. However, the absence of a dedicated crypto wallet and 24/7 customer support are areas that could use improvement. Overall, Firstrade is a solid option for beginners and seasoned investors alike, thanks to its strong regulatory framework and extensive market experience.

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We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Trading212 vs Firstrade [ 2024 ]

Trading212

Firstrade

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Trading212

Firstrade

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Trading212 and Firstrade