First Trade
Forex Club
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Overview
First Trade was founded in 2008 and is headquartered in USA, while Forex Club was established in 2008 and is based in Russia. First Trade holds licences including Securities and Exchange Commission (SEC), while Forex Club is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. First Trade serves 10,000+ clients worldwide; Forex Club has 10,000+. The minimum deposit is $5 at First Trade and $100 at Forex Club.
| Feature | First Trade | Forex Club |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2008 |
| Country | USA | Russia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and Forex Club, directly affecting your bottom line as a trader. Forex Club has a lower barrier to entry with a minimum deposit of $100 (vs $5 at First Trade). First Trade charges withdrawal fees while Forex Club does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; Forex Club does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | Forex Club |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while Forex Club supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Forex Club supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | Forex Club |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,WEB | MT4,WEB,desktop |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and Forex Club 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. The two brokers are evenly matched on educational content.
| Feature | First Trade | Forex Club |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. First Trade accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Forex Club supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | Forex Club |
|---|---|---|
| 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 First Trade and Forex Club 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 | First Trade | Forex Club |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |