First Trade
Forex Financial Services
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Overview
First Trade was founded in 2008 and is headquartered in USA, while Forex Financial Services was established in 2008 and is based in Australia. First Trade holds licences including Securities and Exchange Commission (SEC), while Forex Financial Services is regulated by Australian Securities and investment Commission (ASIC) among others. First Trade serves 10,000+ clients worldwide; Forex Financial Services has 10,000+. The minimum deposit is $5 at First Trade and $2500 at Forex Financial Services.
| Feature | First Trade | Forex Financial Services |
|---|---|---|
| Min. Deposit | $5 | $2500 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Australian Securities and investment Commission (ASIC) |
| Founded | 2008 | 2008 |
| Country | USA | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and Forex Financial Services, directly affecting your bottom line as a trader. Forex Financial Services has a lower barrier to entry with a minimum deposit of $2500 (vs $5 at First Trade). First Trade charges withdrawal fees while Forex Financial Services does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; Forex Financial Services does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | Forex Financial Services |
|---|---|---|
| Min. Deposit | $5 | $2500 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while Forex Financial Services supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Forex Financial Services 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 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 | MT4,WEB | MT4 |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and Forex Financial Services compare. First Trade runs regular live webinars; Forex Financial Services does not. First Trade has a video library; Forex Financial Services does not. First Trade publishes daily market commentary; Forex Financial Services does not. First Trade integrates third-party research tools (Trading Central, Autochartist); Forex Financial Services does not. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | First Trade | Forex Financial Services |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | No |
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 Financial Services supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | 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 First Trade 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 | First Trade | Forex Financial Services |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |