First Trade
Teletrade
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Overview
First Trade was founded in 2008 and is headquartered in USA, while Teletrade was established in 2008 and is based in Cyprus. First Trade holds licences including Securities and Exchange Commission (SEC), while Teletrade is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. First Trade serves 10,000+ clients worldwide; Teletrade has 50,000+. The minimum deposit is $5 at First Trade and $100 at Teletrade.
| Feature | First Trade | Teletrade |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID) |
| Founded | 2008 | 2008 |
| Country | USA | Cyprus |
| Clients | 10,000+ | 50,000+ |
Fees
Fees are a critical factor when choosing between First Trade and Teletrade, directly affecting your bottom line as a trader. Teletrade has a lower barrier to entry with a minimum deposit of $100 (vs $5 at First Trade). First Trade charges withdrawal fees while Teletrade does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; Teletrade does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | Teletrade |
|---|---|---|
| Min. Deposit | $5 | $100 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | Yes |
Platforms
First Trade offers MT4, MT5, cTrader, while Teletrade 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 | Teletrade |
|---|---|---|
| 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, Tablet & Mobile apps (Ios & Android) |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and Teletrade 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 | Teletrade |
|---|---|---|
| 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 Teletrade supports 2 (Skrill, Neteller). First Trade uniquely supports bank transfer and credit/debit card among the two brokers. Teletrade uniquely supports Skrill and Neteller among the two brokers. First Trade scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | Teletrade |
|---|---|---|
| Bank Transfer | Yes | No |
| Credit Card | Yes | No |
| 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 Teletrade offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and Teletrade supports 15, giving Teletrade broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | Teletrade |
|---|---|---|
| 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 |