Firstrade vs Cobra Trading : Fees, Safety & Trading Conditions Compared (2026)

Broker Name

Firstrade

Cobra Trading

Broker Overview

Broker Type (e.g., Market Maker, ECN/STP)

STP broker

None

Years of Existence / Established Year

1985

2003

Customer Base / Number of Accounts

1Million

Info not available

Regulation & Security

Regulations (governing bodies)

FINRA, SEC

FINRA NFA

Awards Won (count for the last 2 years)

Best Online Brokers, Best for Options Traders award.

Cobra Trading the best day trading platform

Security Measures

SIPC

SSL Encryption / 2FA

Yes

Segregated Funds

Yes

Negative Balance Protection

Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

2200+ ETFs including CDs, Treasury bills, Notets and bonds, Primary market CDs, Zeros and strips and more

Currency Pairs

Commodities

Indices

Yes- Through ETFs

Cryptocurrencies

Yes- Through ETFs

CFDs

ETFs

Yes

Stocks

Yes

Options

Yes

Futures

Yes with Venom trading

Bonds

Yes

Mutual Funds

Yes

Fractional Shares

Yes

Exchange Traded Notes (ETNs)

Yes

Precious Metals

Yes

Real Estate Investment Trusts (REITs)

Yes

Equities

Yes

Trading Platforms & Technology

Trading Platform Availability

Yes

MT4

MT5

Yes

cTrader

Social Trading

Copy Trading

Yes

Other Trading Platforms (proprietary, etc.)

Firstrade platform

DAS Trader Pro Sterling Trader Pro Cobra Trading view integration

Platform Compatibility (Windows, Mac, iOS, Android)

Yes

Account Types & Conditions

Account Types (Retail, Pro, VIP, etc.)

Brokerage account- Individual, Joint, Custodial, Retirement- Retirement (Traditional IRA, Roth IRA, SEP IRA), Corporate, Trust, International, Education Planning, Business Planning

Joint (JTWROS) Individual Retirement Account - IRA Roth - IRA Corporate LLC Trust Partnership

Demo Account (Yes/No)

Yes

Islamic Accounts (Yes/No)

Yes

Minimum Deposit

$25,000

Leverage Available

4:1

Trade Limit (maximum per trade)

Depends on asset class

Trade size vary on each asset

Commission (per account type)

Best Suited For (e.g., beginners, experienced traders)

Both beginners and experienced traders

Experienced

Deposit & Withdrawal Options

Deposit Methods

Wire Fund Transfer, Check deposit, Asset transfer, ACH electronic transfer

Check Wire Account transfer

Withdrawal Methods

Wire Fund Transfer, Check Deposit, Asset transfer, ACH electronic transfer, Withdrawal of sales proceed

Check Wire Account transfer

Other E-Wallets Supported

Tools & Educational Resources

Economic Calendar

Yes

Tools & Educational Resources (tutorials, webinars, market news, etc.)

Education Center, Investment Education Videos, Option Guide, Margin Guide, Webinars, Tax center, Blogs, Upcoming IPOs

Advanced order types Basket trading Charting & Multi account management Blogs, Posts & platform videos

Fees & Commissions

Trading-Related Fees

Commission for stocks, ETFs, Options, Mutual funds- $0, Fixed income- Treasury Bills, Notes & Bonds, Municipal Bonds, Agency Bonds, Secondary Market CDs, Zeros & Strips- Net yield basis, Primary Market CDs- $30, Broker-Assisted Stock & Options Trades- $19.95 (+$0.50/Contract)

$0.0015 per share

Spread (typical, fixed, variable)

Typical

Per Lot Fees

Options Contract Fees

$0.30 per contract

Futures Contract Fees

Markup Fees on Spread

Guaranteed Stop Loss Fees

Maximum Leverage

4:1

Non-Trading Fees

Dormant Fees

$15

Subscription Fees (for premium features, data feeds)

Advisory Fees

0.20-0.30%

Swap Fees (Overnight Financing)

Statement or Document Fee

$2-$5

Account Opening Fee

Account Maintenance Fee

Deposit Fee

Currency Conversion Fee

Withdrawal Fee

$25-$75

Bonuses, Promotions & Benefits

Bonuses, Promotions, and Referrals

Yes

Customer Benefits (e.g., Retirement Plan)

Yes

Trading Hours

Trading Hours (for each asset class if applicable)

Pre-Market: 8:00 AM to 9:30 AM ET Regular Market: 9:30 AM to 4:00 PM ET After-Hours: 4:05 PM to 8:00 PM ET

4am to 8pm EST

Customer Support

Support Hours (e.g., 24/7, weekdays only)

Monday - Friday,10am - 4pm ET

Monday-Friday - 7am to 4.30pm Saturday & Sunday - Closed

Customer Support Methods (phone, email, live chat)

Phone: U.S. Toll Free: 1-800-869-8800, Outside the US: 1-718-961-6600, E-mail, FAQ, Fax: 1-718-961-3919

Toll free: 877-792-6272 Direct: 972-491-7999 Fax: 972-491-3111 Email: mailto:[email protected] Live Chat

Support Languages

Additional Information

Headquarters Location

30-50 Whitestone Expwy. Ste. A301 Flushing, NY 11354

3008 E. Hebron Pkwy Building 400 Carrolton, TX 75010

Complaints (for crypto brokers)

At TradingCritique, we don't just list brokers. We test, compare, and simplify your decision-making. Whether you're a beginner or a pro, our data-driven comparisons are built to match your trading style and region. Learn how we Evaluate a broker.

If minimizing trading costs is your top priority, Firstrade might be more attractive due to its lower commissions. Meanwhile, Cobra Trading justifies its moderate fees with more robust tools and professional-grade features.

The account creation flow at Firstrade is modern and app-driven, making it seamless for new users. Cobra Trading, however, leans toward traditional processes with forms and verifications that take more time.

If you're looking for platform speed and ease of execution, Firstrade delivers a smooth experience. Cobra Trading, however, is tailored toward traders who want deeper analysis tools and portfolio insights.

Firstrade supports complex strategies and asset diversity, while Cobra Trading offers clarity and low-cost access for long-term holders.

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