Amscot Stockbroking
First Trade
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Overview
Amscot Stockbroking was founded in 1853 and is headquartered in Austrailia, while First Trade was established in 2008 and is based in USA. Amscot Stockbroking holds licences including Ministry of Economic Affairs and Communications (Estonia), while First Trade is regulated by Securities and Exchange Commission (SEC) among others. Amscot Stockbroking serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $500 at Amscot Stockbroking and $5 at First Trade.
| Feature | Amscot Stockbroking | First Trade |
|---|---|---|
| Min. Deposit | $500 | $5 |
| Regulation | Ministry of Economic Affairs and Communications (Estonia) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 1853 | 2008 |
| Country | Austrailia | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Amscot Stockbroking and First Trade, directly affecting your bottom line as a trader. First Trade has a lower barrier to entry with a minimum deposit of $5 (vs $500 at Amscot Stockbroking). Both brokers charge withdrawal fees. First Trade charges deposit fees; Amscot Stockbroking does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | Amscot Stockbroking | First Trade |
|---|---|---|
| Min. Deposit | $500 | $5 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Amscot Stockbroking offers MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. First Trade edges ahead on platform breadth and functionality in our scoring.
| Feature | Amscot Stockbroking | First Trade |
|---|---|---|
| MT4 | No | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | IRESSTrader,IRESSInvestor,netIRESS,XPLAN | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Amscot Stockbroking and First Trade compare. First Trade runs regular live webinars; Amscot Stockbroking does not. First Trade has a video library; Amscot Stockbroking does not. First Trade publishes daily market commentary; Amscot Stockbroking does not. First Trade integrates third-party research tools (Trading Central, Autochartist); Amscot Stockbroking does not. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | Amscot Stockbroking | First Trade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Amscot Stockbroking 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 | Amscot Stockbroking | 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 Amscot Stockbroking 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 | Amscot Stockbroking | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |