Commonwealth Securities
First Trade
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Overview
Commonwealth Securities was founded in 1999 and is headquartered in Australia, while First Trade was established in 2008 and is based in USA. Commonwealth Securities holds licences including Cyprus Securities and Exchange Commission (CySEC), while First Trade is regulated by Securities and Exchange Commission (SEC) among others. Commonwealth Securities serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $5000 at Commonwealth Securities and $5 at First Trade.
| Feature | Commonwealth Securities | First Trade |
|---|---|---|
| Min. Deposit | $5000 | $5 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 1999 | 2008 |
| Country | Australia | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Commonwealth Securities 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 $5000 at Commonwealth Securities). First Trade charges withdrawal fees while Commonwealth Securities does not, giving Commonwealth Securities an edge for frequent withdrawers. Commonwealth Securities charges deposit fees; First Trade does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | Commonwealth Securities | First Trade |
|---|---|---|
| Min. Deposit | $5000 | $5 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
Commonwealth Securities offers MT4, MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Commonwealth Securities supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | Commonwealth Securities | 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 | Metatrader 4 - desktop, iOS and Android versions available. | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Commonwealth Securities 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. First Trade scores higher overall in education and research.
| Feature | Commonwealth Securities | First Trade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Commonwealth Securities 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 | Commonwealth Securities | 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 Commonwealth Securities 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 | Commonwealth Securities | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |