Alfa Forex
First Trade
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Overview
Alfa Forex was founded in 2011 and is headquartered in Cyprus, while First Trade was established in 2008 and is based in USA. Both brokers are regulated by Securities and Exchange Commission (SEC), among other authorities. Alfa Forex serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $0 at Alfa Forex and $5 at First Trade.
| Feature | Alfa Forex | First Trade |
|---|---|---|
| Min. Deposit | $0 | $5 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 2011 | 2008 |
| Country | Cyprus | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Alfa Forex and First Trade, directly affecting your bottom line as a trader. Alfa Forex has a lower barrier to entry with a minimum deposit of $0 (vs $5 at First Trade). Both brokers charge withdrawal fees. Alfa Forex applies inactivity fees on dormant accounts; First Trade does not. First Trade charges deposit fees; Alfa Forex does not. The two brokers are broadly comparable on fee structure.
| Feature | Alfa Forex | First Trade |
|---|---|---|
| Min. Deposit | $0 | $5 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Alfa Forex offers MT4, MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Alfa Forex supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | Alfa Forex | First Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Alfa Forex and First Trade compare. First Trade runs regular live webinars; Alfa Forex does not. Both provide video tutorials. First Trade publishes daily market commentary; Alfa Forex does not. Both integrate third-party research tools. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | Alfa Forex | First Trade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Alfa Forex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while First Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Alfa Forex | First Trade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Alfa Forex and First Trade offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Alfa Forex | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |