Etrade
Forex Financial Services
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Overview
Etrade was founded in 2012 and is headquartered in United States, while Forex Financial Services was established in 2008 and is based in Australia. Etrade holds licences including Securities and Exchange Commission (SEC), while Forex Financial Services is regulated by Australian Securities and investment Commission (ASIC) among others. Etrade serves 10,000+ clients worldwide; Forex Financial Services has 10,000+. The minimum deposit is $100 at Etrade and $2500 at Forex Financial Services.
| Feature | Etrade | Forex Financial Services |
|---|---|---|
| Min. Deposit | $100 | $2500 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Australian Securities and investment Commission (ASIC) |
| Founded | 2012 | 2008 |
| Country | United States | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Etrade and Forex Financial Services, directly affecting your bottom line as a trader. Etrade has a lower barrier to entry with a minimum deposit of $100 (vs $2500 at Forex Financial Services). Neither broker charges withdrawal fees. Forex Financial Services charges deposit fees; Etrade does not. Overall, Etrade scores higher on fees in our assessment.
| Feature | Etrade | Forex Financial Services |
|---|---|---|
| Min. Deposit | $100 | $2500 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Etrade offers MT4, MT5, cTrader, while Forex Financial Services supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Etrade | Forex Financial Services |
|---|---|---|
| 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 |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Etrade and Forex Financial Services compare. Etrade runs regular live webinars; Forex Financial Services does not. Etrade has a video library; Forex Financial Services does not. Etrade publishes daily market commentary; Forex Financial Services does not. Etrade integrates third-party research tools (Trading Central); Forex Financial Services does not. Etrade maintains an archive of past webinars for on-demand viewing. Etrade scores higher overall in education and research.
| Feature | Etrade | Forex Financial Services |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | No |
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 Forex Financial Services supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Etrade | Forex Financial Services |
|---|---|---|
| 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 Forex Financial Services 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 | Forex Financial Services |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |