First Trade
SpreadCo
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Overview
First Trade was founded in 2008 and is headquartered in USA, while SpreadCo was established in 2005 and is based in London. First Trade holds licences including Securities and Exchange Commission (SEC), while SpreadCo is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; SpreadCo has 10,000+. The minimum deposit is $5 at First Trade and $100 at SpreadCo.
| Feature | First Trade | SpreadCo |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA) |
| Founded | 2008 | 2005 |
| Country | USA | London |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and SpreadCo, directly affecting your bottom line as a trader. SpreadCo has a lower barrier to entry with a minimum deposit of $100 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; SpreadCo does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | SpreadCo |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
First Trade offers MT4, MT5, cTrader, while SpreadCo supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. SpreadCo supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | SpreadCo |
|---|---|---|
| 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 Trader, 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 SpreadCo compare. First Trade runs regular live webinars; SpreadCo does not. Both provide video tutorials. First Trade publishes daily market commentary; SpreadCo 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 | SpreadCo |
|---|---|---|
| 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 SpreadCo supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | SpreadCo |
|---|---|---|
| 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 SpreadCo 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 | SpreadCo |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |