First Trade
OptionWeb
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Overview
First Trade was founded in 2008 and is headquartered in USA, while OptionWeb was established in 2012 and is based in Cyprus. First Trade holds licences including Securities and Exchange Commission (SEC), while OptionWeb is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. First Trade serves 10,000+ clients worldwide; OptionWeb has 10,000+. The minimum deposit is $5 at First Trade and $200 at OptionWeb.
| Feature | First Trade | OptionWeb |
|---|---|---|
| Min. Deposit | $5 | $200 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2012 |
| Country | USA | Cyprus |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and OptionWeb, directly affecting your bottom line as a trader. OptionWeb has a lower barrier to entry with a minimum deposit of $200 (vs $5 at First Trade). First Trade charges withdrawal fees while OptionWeb does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; OptionWeb does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | OptionWeb |
|---|---|---|
| Min. Deposit | $5 | $200 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while OptionWeb 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 | OptionWeb |
|---|---|---|
| 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 | Binary, 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 OptionWeb compare. First Trade runs regular live webinars; OptionWeb does not. Both provide video tutorials. First Trade publishes daily market commentary; OptionWeb 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 | OptionWeb |
|---|---|---|
| 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 OptionWeb supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | OptionWeb |
|---|---|---|
| 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 OptionWeb 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 | OptionWeb |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |