First Trade
fx private
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Overview
First Trade was founded in 2008 and is headquartered in USA, while fx private was established in 2020 and is based in USA. First Trade holds licences including Securities and Exchange Commission (SEC), while fx private is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; fx private has 12,000,000+. The minimum deposit is $5 at First Trade and $250 at fx private.
| Feature | First Trade | fx private |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F239 |
| Founded | 2008 | 2020 |
| Country | USA | USA |
| Clients | 10,000+ | 12,000,000+ |
Fees
Fees are a critical factor when choosing between First Trade and fx private, directly affecting your bottom line as a trader. fx private has a lower barrier to entry with a minimum deposit of $250 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; fx private does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | fx private |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while fx private supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. First Trade edges ahead on platform breadth and functionality in our scoring.
| Feature | First Trade | fx private |
|---|---|---|
| MT4 | Yes | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,WEB | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, 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 fx private compare. First Trade runs regular live webinars; fx private does not. Both provide video tutorials. First Trade publishes daily market commentary; fx private does not. Both integrate third-party research tools. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | First Trade | fx private |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| 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 fx private supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). fx private uniquely supports PayPal and Skrill and Neteller among the two brokers. fx private scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | fx private |
|---|---|---|
| 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 fx private offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and fx private supports 8, giving fx private broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | fx private |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |