First Trade
PaxForex
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Overview
First Trade was founded in 2008 and is headquartered in USA, while PaxForex was established in 2011 and is based in Saint Vincent and the Grenadines. First Trade holds licences including Securities and Exchange Commission (SEC), while PaxForex is regulated by Financial Services Authority (FSA) among others. First Trade serves 10,000+ clients worldwide; PaxForex has 350+. The minimum deposit is $5 at First Trade and $10 at PaxForex.
| Feature | First Trade | PaxForex |
|---|---|---|
| Min. Deposit | $5 | $10 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 |
| Founded | 2008 | 2011 |
| Country | USA | Saint Vincent and the Grenadines |
| Clients | 10,000+ | 350+ |
Fees
Fees are a critical factor when choosing between First Trade and PaxForex, directly affecting your bottom line as a trader. PaxForex has a lower barrier to entry with a minimum deposit of $10 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; PaxForex does not. The two brokers are broadly comparable on fee structure.
| Feature | First Trade | PaxForex |
|---|---|---|
| Min. Deposit | $5 | $10 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while PaxForex supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. PaxForex supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | PaxForex |
|---|---|---|
| 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 | Web, iPad, mac, Desktop, iPhone iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and PaxForex 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. The two brokers are evenly matched on educational content.
| Feature | First Trade | PaxForex |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| 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 PaxForex supports 4 (bank transfer, credit/debit card, Skrill, Neteller). PaxForex uniquely supports Skrill and Neteller among the two brokers. PaxForex scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | PaxForex |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| 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 PaxForex offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and PaxForex supports 15, giving PaxForex broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | PaxForex |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian |