Direct FX
First Trade
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Overview
Direct FX was founded in 2006 and is headquartered in New Zealand, while First Trade was established in 2008 and is based in USA. Direct FX holds licences including Unregulated, while First Trade is regulated by Securities and Exchange Commission (SEC) among others. Direct FX serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $1 at Direct FX and $5 at First Trade.
| Feature | Direct FX | First Trade |
|---|---|---|
| Min. Deposit | $1 | $5 |
| Regulation | Unregulated | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 2006 | 2008 |
| Country | New Zealand | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Direct FX and First Trade, directly affecting your bottom line as a trader. Direct FX has a lower barrier to entry with a minimum deposit of $1 (vs $5 at First Trade). First Trade charges withdrawal fees while Direct FX does not, giving Direct FX an edge for frequent withdrawers. Direct FX charges deposit fees; First Trade does not. The two brokers are broadly comparable on fee structure.
| Feature | Direct FX | First Trade |
|---|---|---|
| Min. Deposit | $1 | $5 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | No |
Platforms
Direct FX offers MT4, MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Direct FX supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | Direct FX | 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 | Not available | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Direct FX 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 | Direct FX | 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. Direct FX 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 | Direct FX | 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 Direct FX 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 | Direct FX | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |