First Trade
iq option
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Overview
First Trade was founded in 2008 and is headquartered in USA, while iq option was established in 2019 and is based in United States. First Trade holds licences including Securities and Exchange Commission (SEC), while iq option is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; iq option has 14,000,000+. The minimum deposit is $5 at First Trade and $250 at iq option.
| Feature | First Trade | iq option |
|---|---|---|
| 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-F262 |
| Founded | 2008 | 2019 |
| Country | USA | United States |
| Clients | 10,000+ | 14,000,000+ |
Fees
Fees are a critical factor when choosing between First Trade and iq option, directly affecting your bottom line as a trader. iq option 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; iq option does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | iq option |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while iq option 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 | iq option |
|---|---|---|
| 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 iq option compare. First Trade runs regular live webinars; iq option does not. First Trade has a video library; iq option does not. First Trade publishes daily market commentary; iq option does not. First Trade integrates third-party research tools (Trading Central, Autochartist); iq option 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 | iq option |
|---|---|---|
| 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 iq option supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). iq option uniquely supports PayPal and Skrill and Neteller among the two brokers. iq option scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | iq option |
|---|---|---|
| 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 iq option offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and iq option supports 8, giving iq option broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | iq option |
|---|---|---|
| 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 |