First Trade
IKON Finance
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Overview
First Trade was founded in 2008 and is headquartered in USA, while IKON Finance was established in 2011 and is based in London. First Trade holds licences including Securities and Exchange Commission (SEC), while IKON Finance is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; IKON Finance has 10,000+. The minimum deposit is $5 at First Trade and $200 at IKON Finance.
| Feature | First Trade | IKON Finance |
|---|---|---|
| Min. Deposit | $5 | $200 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA) |
| Founded | 2008 | 2011 |
| Country | USA | London |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and IKON Finance, directly affecting your bottom line as a trader. IKON Finance has a lower barrier to entry with a minimum deposit of $200 (vs $5 at First Trade). First Trade charges withdrawal fees while IKON Finance does not, a notable advantage for frequent withdrawers. IKON Finance applies inactivity fees on dormant accounts; First Trade does not. First Trade charges deposit fees; IKON Finance does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | IKON Finance |
|---|---|---|
| Min. Deposit | $5 | $200 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while IKON Finance 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 | IKON Finance |
|---|---|---|
| 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, ZuluTrade, 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 IKON Finance 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 | IKON Finance |
|---|---|---|
| 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 IKON Finance supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | IKON Finance |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
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 IKON Finance offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | First Trade | IKON Finance |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |