First Trade
Fortrade
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Overview
First Trade was founded in 2008 and is headquartered in USA, while Fortrade was established in 1992 and is based in UK. First Trade holds licences including Securities and Exchange Commission (SEC), while Fortrade is regulated by Financial Conduct Authority (FCA) FRN: 609970 among others. First Trade serves 10,000+ clients worldwide; Fortrade has 10,000+. The minimum deposit is $5 at First Trade and $1 at Fortrade.
| Feature | First Trade | Fortrade |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA) FRN: 609970, National Bank of the Republic of Belarus (NBRB) FRN: 193075810, Australian Securities and Investments Commission (ASIC) ABN: 33 614 683 831 | AFSL: 493520, Canadian Investor Protection Fund (CIPF) CRN: BC1148613, Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20 |
| Founded | 2008 | 1992 |
| Country | USA | UK |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and Fortrade, directly affecting your bottom line as a trader. Fortrade has a lower barrier to entry with a minimum deposit of $1 (vs $5 at First Trade). First Trade charges withdrawal fees while Fortrade does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; Fortrade does not. The two brokers are broadly comparable on fee structure.
| Feature | First Trade | Fortrade |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
First Trade offers MT4, MT5, cTrader, while Fortrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | First Trade | Fortrade |
|---|---|---|
| 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, Binary, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and Fortrade compare. First Trade runs regular live webinars; Fortrade does not. First Trade has a video library; Fortrade does not. First Trade publishes daily market commentary; Fortrade does not. First Trade integrates third-party research tools (Trading Central, Autochartist); Fortrade 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 | Fortrade |
|---|---|---|
| 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 Fortrade supports 4 (bank transfer, credit/debit card, PayPal, Neteller). Fortrade uniquely supports PayPal and Neteller among the two brokers. Fortrade scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | Fortrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | No |
| 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 Fortrade offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and Fortrade supports 1, giving First Trade broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | Fortrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English |