First Trade
Virtual Brokers
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Overview
First Trade was founded in 2008 and is headquartered in USA, while Virtual Brokers was established in 2008 and is based in Canada. First Trade holds licences including Securities and Exchange Commission (SEC), while Virtual Brokers is regulated by The Investment Industry Regulatory Organization of Canada (IIROC) among others. First Trade serves 10,000+ clients worldwide; Virtual Brokers has 10,000+. The minimum deposit is $5 at First Trade and $1000 at Virtual Brokers.
| Feature | First Trade | Virtual Brokers |
|---|---|---|
| Min. Deposit | $5 | $1000 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) |
| Founded | 2008 | 2008 |
| Country | USA | Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and Virtual Brokers, directly affecting your bottom line as a trader. Virtual Brokers has a lower barrier to entry with a minimum deposit of $1000 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; Virtual Brokers does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | Virtual Brokers |
|---|---|---|
| Min. Deposit | $5 | $1000 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while Virtual Brokers supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Virtual Brokers supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | Virtual Brokers |
|---|---|---|
| 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,Desktop,iPhone/iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and Virtual Brokers 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 | Virtual Brokers |
|---|---|---|
| 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 Virtual Brokers supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | Virtual Brokers |
|---|---|---|
| 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 Virtual Brokers 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 | Virtual Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |