First Trade
traders way
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Overview
First Trade was founded in 2008 and is headquartered in USA, while traders way was established in 2012 and is based in Grenadines. First Trade holds licences including Securities and Exchange Commission (SEC), while traders way is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; traders way has 10,000+. The minimum deposit is $5 at First Trade and $250 at traders way.
| Feature | First Trade | traders way |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F327 |
| Founded | 2008 | 2012 |
| Country | USA | Grenadines |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and traders way, directly affecting your bottom line as a trader. traders way has a lower barrier to entry with a minimum deposit of $250 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; traders way does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | traders way |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while traders way supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. traders way supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | traders way |
|---|---|---|
| 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, ZuluTrade, 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 traders way compare. First Trade runs regular live webinars; traders way does not. Both provide video tutorials. First Trade publishes daily market commentary; traders way 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 | traders way |
|---|---|---|
| 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 traders way supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). traders way uniquely supports PayPal and Skrill and Neteller among the two brokers. traders way scores higher on deposit and withdrawal flexibility.
| Feature | First Trade | traders way |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| 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 traders way offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and traders way supports 8, giving traders way broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | traders way |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |