First Trade
IronFX
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Overview
First Trade was founded in 2008 and is headquartered in USA, while IronFX was established in 2010 and is based in Cyprus. First Trade holds licences including Securities and Exchange Commission (SEC), while IronFX is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; IronFX has 10,000+. The minimum deposit is $5 at First Trade and $500 at IronFX.
| Feature | First Trade | IronFX |
|---|---|---|
| Min. Deposit | $5 | $500 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 2010 |
| Country | USA | Cyprus |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and IronFX, directly affecting your bottom line as a trader. First Trade has a lower barrier to entry with a minimum deposit of $5 (vs $500 at IronFX). First Trade charges withdrawal fees while IronFX does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; IronFX does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | IronFX |
|---|---|---|
| Min. Deposit | $5 | $500 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
First Trade offers MT4, MT5, cTrader, while IronFX supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. IronFX supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | IronFX |
|---|---|---|
| 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, Mac, Mirror Trader, 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 IronFX compare. First Trade runs regular live webinars; IronFX does not. Both provide video tutorials. First Trade publishes daily market commentary; IronFX 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 | IronFX |
|---|---|---|
| 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 IronFX supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | IronFX |
|---|---|---|
| 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 IronFX 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 | IronFX |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |