Eightcap
First Trade
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Overview
Eightcap was founded in 2009 and is headquartered in Australia, while First Trade was established in 2008 and is based in USA. Eightcap holds licences including Australian Securities and Investment Commission (ASIC), while First Trade is regulated by Securities and Exchange Commission (SEC) among others. Eightcap serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $100 at Eightcap and $5 at First Trade.
| Feature | Eightcap | First Trade |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 2009 | 2008 |
| Country | Australia | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Eightcap and First Trade, directly affecting your bottom line as a trader. Eightcap has a lower barrier to entry with a minimum deposit of $100 (vs $5 at First Trade). Both brokers charge withdrawal fees. Eightcap applies inactivity fees on dormant accounts; First Trade does not. First Trade charges deposit fees; Eightcap does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | Eightcap | First Trade |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Eightcap offers MT4, MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Eightcap supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | Eightcap | 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, Tablet & Mobile apps | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Eightcap and First Trade compare. First Trade runs regular live webinars; Eightcap does not. First Trade has a video library; Eightcap does not. First Trade publishes daily market commentary; Eightcap does not. First Trade integrates third-party research tools (Trading Central, Autochartist); Eightcap does not. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | Eightcap | 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. Eightcap 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 | Eightcap | 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 Eightcap 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 | Eightcap | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |