First Trade
ForexMart
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Overview
First Trade was founded in 2008 and is headquartered in USA, while ForexMart was established in 2015 and is based in Cyprus. First Trade holds licences including Securities and Exchange Commission (SEC), while ForexMart is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. First Trade serves 10,000+ clients worldwide; ForexMart has 10,000+. The minimum deposit is $5 at First Trade and $1 at ForexMart.
| Feature | First Trade | ForexMart |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2015 |
| Country | USA | Cyprus |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and ForexMart, directly affecting your bottom line as a trader. ForexMart has a lower barrier to entry with a minimum deposit of $1 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; ForexMart does not. The two brokers are broadly comparable on fee structure.
| Feature | First Trade | ForexMart |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
First Trade offers MT4, MT5, cTrader, while ForexMart supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. ForexMart supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | ForexMart |
|---|---|---|
| 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 ForexMart 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 | ForexMart |
|---|---|---|
| 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 ForexMart supports 4 (bank transfer, credit/debit card, Skrill, Neteller). ForexMart uniquely supports Skrill and Neteller among the two brokers. ForexMart scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | ForexMart |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | Yes |
| Neteller | No | Yes |
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 ForexMart offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and ForexMart supports 15, giving ForexMart broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | ForexMart |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian |