First Trade
WellsTrade
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Overview
First Trade was founded in 2008 and is headquartered in USA, while WellsTrade was established in 2008 and is based in United States. First Trade holds licences including Securities and Exchange Commission (SEC), while WellsTrade is regulated by Unregulated among others. First Trade serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $5 at First Trade and $30 at WellsTrade.
| Feature | First Trade | WellsTrade |
|---|---|---|
| Min. Deposit | $5 | $30 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Unregulated |
| Founded | 2008 | 2008 |
| Country | USA | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and WellsTrade, directly affecting your bottom line as a trader. WellsTrade has a lower barrier to entry with a minimum deposit of $30 (vs $5 at First Trade). First Trade charges withdrawal fees while WellsTrade does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; WellsTrade does not. The two brokers are broadly comparable on fee structure.
| Feature | First Trade | WellsTrade |
|---|---|---|
| Min. Deposit | $5 | $30 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade offers MT4, MT5, cTrader, while WellsTrade 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 | WellsTrade |
|---|---|---|
| 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 | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade and WellsTrade compare. First Trade runs regular live webinars; WellsTrade does not. First Trade has a video library; WellsTrade does not. First Trade publishes daily market commentary; WellsTrade does not. First Trade integrates third-party research tools (Trading Central, Autochartist); WellsTrade does not. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | First Trade | WellsTrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | No |
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 WellsTrade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | First Trade | WellsTrade |
|---|---|---|
| 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 WellsTrade 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 | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |