Etrade
First Trade
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Overview
Etrade was founded in 2012 and is headquartered in United States, while First Trade was established in 2008 and is based in USA. Both brokers are regulated by Securities and Exchange Commission (SEC), among other authorities. Etrade serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $100 at Etrade and $5 at First Trade.
| Feature | Etrade | First Trade |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 2012 | 2008 |
| Country | United States | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Etrade and First Trade, directly affecting your bottom line as a trader. Etrade has a lower barrier to entry with a minimum deposit of $100 (vs $5 at First Trade). First Trade charges withdrawal fees while Etrade does not, giving Etrade an edge for frequent withdrawers. First Trade charges deposit fees; Etrade does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | Etrade | First Trade |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Etrade offers MT4, MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Etrade supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | Etrade | 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 | cTrader, SocialTrading, webPlatform, DesktopPlatform, Proprietary . | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Etrade 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 | Etrade | 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. Etrade 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 | Etrade | 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 Etrade 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 | Etrade | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |