First Trade
lmfx
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Overview
First Trade was founded in 2008 and is headquartered in USA, while lmfx was established in 2016 and is based in Anguilla. First Trade holds licences including Securities and Exchange Commission (SEC), while lmfx is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; lmfx has 10,000+. The minimum deposit is $5 at First Trade and $250 at lmfx.
| Feature | First Trade | lmfx |
|---|---|---|
| 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-F271 |
| Founded | 2008 | 2016 |
| Country | USA | Anguilla |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and lmfx, directly affecting your bottom line as a trader. lmfx has a lower barrier to entry with a minimum deposit of $250 (vs $5 at First Trade). First Trade charges withdrawal fees while lmfx does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; lmfx does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | lmfx |
|---|---|---|
| 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 lmfx 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 | lmfx |
|---|---|---|
| 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 lmfx 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. First Trade scores higher overall in education and research.
| Feature | First Trade | lmfx |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| 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 lmfx supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). lmfx uniquely supports PayPal and Skrill and Neteller among the two brokers. lmfx scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | lmfx |
|---|---|---|
| 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 lmfx offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and lmfx supports 8, giving lmfx broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | lmfx |
|---|---|---|
| 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 |