Bitfinex
First Trade
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Overview
Bitfinex was founded in 2015 and is headquartered in New Zealand, while First Trade was established in 2008 and is based in USA. Bitfinex holds licences including Financial Services Provider (FSP), while First Trade is regulated by Securities and Exchange Commission (SEC) among others. Bitfinex serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $100 at Bitfinex and $5 at First Trade.
| Feature | Bitfinex | First Trade |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Regulation | Financial Services Provider (FSP) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 2015 | 2008 |
| Country | New Zealand | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Bitfinex and First Trade, directly affecting your bottom line as a trader. Bitfinex has a lower barrier to entry with a minimum deposit of $100 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; Bitfinex does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | Bitfinex | First Trade |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Bitfinex offers MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Bitfinex supports social and copy trading features, which First Trade does not offer. First Trade edges ahead on platform breadth and functionality in our scoring.
| Feature | Bitfinex | 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 | Android Apps,iPhone/iPad,Desktop | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Bitfinex and First Trade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Bitfinex | First Trade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Bitfinex 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 | Bitfinex | 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 Bitfinex 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 | Bitfinex | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |