First Trade
FP Markets
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Overview
First Trade was founded in 2008 and is headquartered in USA, while FP Markets was established in 2005 and is based in Australia. First Trade holds licences including Securities and Exchange Commission (SEC), while FP Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. First Trade serves 10,000+ clients worldwide; FP Markets has 10,000+. The minimum deposit is $5 at First Trade and $100 at FP Markets.
| Feature | First Trade | FP Markets |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2005 |
| Country | USA | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and FP Markets, directly affecting your bottom line as a trader. FP Markets has a lower barrier to entry with a minimum deposit of $100 (vs $5 at First Trade). First Trade charges withdrawal fees while FP Markets does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; FP Markets does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | FP Markets |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
First Trade offers MT4, MT5, cTrader, while FP Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. FP Markets supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | FP Markets |
|---|---|---|
| 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, MT5, IRESS, Mac, Web Trader, 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 FP Markets 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. First Trade scores higher overall in education and research.
| Feature | First Trade | FP Markets |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| 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 FP Markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). FP Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. FP Markets scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | FP Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| 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 FP Markets offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade offers multilingual support. Both brokers are comparable on support quality.
| Feature | First Trade | FP Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | Not available |