eOption
First Trade
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Overview
eOption was founded in 2008 and is headquartered in USA, while First Trade was established in 2008 and is based in USA. eOption holds licences including Unregulated, while First Trade is regulated by Securities and Exchange Commission (SEC) among others. eOption serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $500 at eOption and $5 at First Trade.
| Feature | eOption | First Trade |
|---|---|---|
| Min. Deposit | $500 | $5 |
| Regulation | Unregulated | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 2008 | 2008 |
| Country | USA | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between eOption 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 eOption). Both brokers charge withdrawal fees. eOption charges deposit fees; First Trade does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | eOption | First Trade |
|---|---|---|
| Min. Deposit | $500 | $5 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
eOption offers MT4, MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | eOption | 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 | DealBook (Desktop, Mobile, iPhone, iPad, iPod touch, Web) | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how eOption and First Trade compare. First Trade runs regular live webinars; eOption does not. Both provide video tutorials. First Trade publishes daily market commentary; eOption does not. Both integrate third-party research tools. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | eOption | First Trade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. eOption 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 | eOption | 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 eOption 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 | eOption | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |