First Trade
UFX
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Overview
First Trade was founded in 2008 and is headquartered in USA, while UFX was established in 2007 and is based in Republic of Vanuatu. First Trade holds licences including Securities and Exchange Commission (SEC), while UFX is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. First Trade serves 10,000+ clients worldwide; UFX has 10,000+. The minimum deposit is $5 at First Trade and $500 at UFX.
| Feature | First Trade | UFX |
|---|---|---|
| Min. Deposit | $5 | $500 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2007 |
| Country | USA | Republic of Vanuatu |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and UFX, directly affecting your bottom line as a trader. First Trade has a lower barrier to entry with a minimum deposit of $5 (vs $500 at UFX). Both brokers charge withdrawal fees. First Trade charges deposit fees; UFX does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | UFX |
|---|---|---|
| Min. Deposit | $5 | $500 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while UFX supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. UFX supports social and copy trading features, which First Trade does not offer. First Trade edges ahead on platform breadth and functionality in our scoring.
| Feature | First Trade | UFX |
|---|---|---|
| MT4 | Yes | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,WEB | MT4, 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 UFX compare. First Trade runs regular live webinars; UFX does not. Both provide video tutorials. First Trade publishes daily market commentary; UFX 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 | UFX |
|---|---|---|
| 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 UFX supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | UFX |
|---|---|---|
| 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 UFX 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 | UFX |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |