First Trade
fxcl markets
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Overview
First Trade was founded in 2008 and is headquartered in USA, while fxcl markets was established in 2006 and is based in Cayman Islands. First Trade holds licences including Securities and Exchange Commission (SEC), while fxcl markets is regulated by Financial Services Authority (FSA) number 1637 among others. First Trade serves 10,000+ clients worldwide; fxcl markets has 10,000+. The minimum deposit is $5 at First Trade and $250 at fxcl markets.
| Feature | First Trade | fxcl markets |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Services Authority (FSA) number 1637 |
| Founded | 2008 | 2006 |
| Country | USA | Cayman Islands |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and fxcl markets, directly affecting your bottom line as a trader. fxcl markets has a lower barrier to entry with a minimum deposit of $250 (vs $5 at First Trade). First Trade charges withdrawal fees while fxcl markets does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; fxcl markets does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | fxcl markets |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while fxcl markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. fxcl 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 | fxcl 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, 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 fxcl 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. The two brokers are evenly matched on educational content.
| Feature | First Trade | fxcl markets |
|---|---|---|
| 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 fxcl markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). fxcl markets uniquely supports PayPal and Skrill and Neteller among the two brokers. fxcl markets scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | fxcl 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 fxcl markets offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and fxcl markets supports 8, giving fxcl markets broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | fxcl markets |
|---|---|---|
| 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 |