First Trade
OANDA
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Overview
First Trade was founded in 2008 and is headquartered in USA, while OANDA was established in 1996 and is based in United States, Canada. First Trade holds licences including Securities and Exchange Commission (SEC), while OANDA is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; OANDA has 10,000+. The minimum deposit is $5 at First Trade and $1 at OANDA.
| Feature | First Trade | OANDA |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 1996 |
| Country | USA | United States, Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and OANDA, directly affecting your bottom line as a trader. OANDA has a lower barrier to entry with a minimum deposit of $1 (vs $5 at First Trade). First Trade charges withdrawal fees while OANDA does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; OANDA does not. The two brokers are broadly comparable on fee structure.
| Feature | First Trade | OANDA |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while OANDA 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 | OANDA |
|---|---|---|
| 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, OANDA Desktop, OANDA Web, OANDA Mobile |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and OANDA 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 | OANDA |
|---|---|---|
| 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 OANDA supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | OANDA |
|---|---|---|
| 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 OANDA 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 | OANDA |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |