First Trade
Roboforex
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Overview
First Trade was founded in 2008 and is headquartered in USA, while Roboforex was established in 2009 and is based in Belize. First Trade holds licences including Securities and Exchange Commission (SEC), while Roboforex is regulated by RoboForex Ltd is a financial brokerage company regulated by the FSC among others. First Trade serves 10,000+ clients worldwide; Roboforex has 10,000+. The minimum deposit is $5 at First Trade and $1 at Roboforex.
| Feature | First Trade | Roboforex |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | RoboForex Ltd is a financial brokerage company regulated by the FSC, license No. 000138/437, reg. number 128.572. Address: 2118 Guava Street, Belama Phase 1, Belize City, Belize. |
| Founded | 2008 | 2009 |
| Country | USA | Belize |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and Roboforex, directly affecting your bottom line as a trader. Roboforex has a lower barrier to entry with a minimum deposit of $1 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; Roboforex does not. The two brokers are broadly comparable on fee structure.
| Feature | First Trade | Roboforex |
|---|---|---|
| Min. Deposit | $5 | $1 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while Roboforex supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. Roboforex supports social and copy trading features, which First Trade does not offer. Roboforex edges ahead on platform breadth and functionality in our scoring.
| Feature | First Trade | Roboforex |
|---|---|---|
| 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, MT5, Mac, 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 Roboforex 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 | Roboforex |
|---|---|---|
| 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 Roboforex supports 3 (bank transfer, credit/debit card, Neteller). Roboforex uniquely supports Neteller among the two brokers. Roboforex scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | Roboforex |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| 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 Roboforex offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and Roboforex supports 13, giving Roboforex broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | Roboforex |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian |