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First Trade Guide – Read our In-Depth First Trade Review

This First Trade review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.

Please note that due to regulations, the content in this First Trade review does not apply to US users.

This First Trade review contains the latest information about First Trade.

If you're a new entrant in the world of trading and brokerage, so many facts will be confusing for you. Getting into the world of trading demands expert analyzing skills and thorough knowledge. You'll acquire proficient at all of the concepts of broker as you continue trading. For starters, you need to choose the ideal broker who will be transparent with you constantly.

Within this fast-paced universe of stock markets and trading, you'll need guidance to make proper decisions. A professionally direct investment plan will create hefty returns. First Trade is just one such platform that will take you along with your investment to great heights. It's crucial to know all about First Trade until you trust them with your cash.

First Trade review

Our entire First Trade Review covers everything you need to learn about trading with First Trade. A good agent can multiply your initial investments and provide you favorable profits. If you would like to earn profits, you should trade with a brokerage service that aligns with your investing goals.

There is no sure-fire way to ensure profits; therefore, you must carefully assess your agent before you select them. It's a common misconception that all brokers will be the same, but that's not correct. Wrong judgment, initially, can set your investments at risk.

First Trade is a broker which has forged its way successfully to the broker world. In this review, we've attempted to collate a number of the vital aspects of First Trade. This review can help you to know whether First Trade is a fantastic fit for your investments or not. We have tried to breakdown all the features and fees for your convenience.

First Trade Review, Table Of Contents

Who are First Trade?

First Trade is a forex broker headquartered in USA and provides a range of instruments for trading. Since its establishment in 2008, First Trade has emerged as a top player in the industry of online broker. First Trade has an extremely competitive and full-featured trading website that's focused on forex, indices, metals, shares, commodities.

Over the past 13 years, First Trade has grown into one of the leading online brokers.

After launching in 2008, their customer base is becoming as big as 10,000+ clients.

First Trade is the favorite for many dealers.. Our First Trade review found that they are an excellent alternative for automated trading options. They're best suited for investors who are looking for an assortment of assets. Social and automated trading options are the core at First Trade.

Technology plays a significant role in First Trade. First Trade offers trading on MT4,WEB. First Trade is honest, transparent, and a well-regulated agent by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). Their outstanding variety of tools will be beneficial for most traders. Third-party partnerships also supply in-house analysis.

The educational section at First Trade is quite insightful for new dealers since it permits them to have a closer look at the financial markets. First Trade caters to all sorts of traders and are a must-have broker for any well-diversified method of online trading.

Benefits of doing online trading with First Trade?

Trading with First Trade comes with many benefits. These advantages are what sets First Trade ahead of the rest of the online brokers. You need to check all the advantages listed so you have a better understanding of First Trade.

The agent goes to great lengths to understand what dealers want. As a result, the service price is low, quick, and convenient. The agent also provides a number of platforms for all kinds of traders. First Trade helps to ensure that the individual needs of all online traders are duly met.

First Trade also includes excellent trading conditions that are available to just an elite class of institutional clients. The tight spreads and fast executions are a great benefit for the traders. The technology embraced by First Trade is of the maximum caliber, ensuring that it is fast, dependable, and efficient.

First Trade admits the significance of having a quick order execution. A quick execution will allow users to trade without fretting about slippage safely. It is going to also help the dealers to grab the utmost profitable opportunities.

Automated trading is another important aspect of First Trade. A new trader can learn from industry experts using the automated trading alternative. The tight spread begins from as low as 0.0 pips, though they are available for only razor balances.

First Trade has over 101 trading tools to support all kinds of traders. These instruments are dynamic and suitable for both the new and seasoned traders. The dealers can set aside all their concerns when trading using First Trade.

First Trade overview

Year Founded: 2008

Regulated By: Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA)

Hedquarters: USA

Minimum Deposit: $5

Number Of Clients: 10,000+

Your capital is at risk

If you feel that First Trade is not right for you then at the bottom of this First Trade review you wil find a lot of alternatives to First Trade.

Everything you should know about trading with First Trade

First Trade is a dynamic platform that offers various procedures of trading. These tools cover the financial markets substantially. The Majority of the brokerage platforms provide fewer procedures than First Trade

If you wish to exchange with First Trade, you will require a minimum deposit of $5. This deposit is required if you wish to start trading with First Trade. This 2021 First Trade review will guide you easily about trading with them.

First Trade is as flexible as any other brokerage platform. First Trade is ideal for traders who want a manageable array of low-cost services. The platforms offered by First Trade are third-party, white-label offerings. All traders can choose from MT4,WEB.

Along with everything, First Trade has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a trade has to be kept available. The agents offer premium client service that rewards clients with advantages.

Many unethical brokers try to pressurise customers into larger funding for premium services. First Trade, on the other hand, is more concentrated on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the further advantages will become available.

First Trade accounts are available around the world and provides outstanding service everywhere they have clients. There are some select few countries where First Trade accounts are not available. Traders in the following countries cannot open or use a First Trade account:

Is First Trade Safe To Trade With?

Launched in 2008, First Trade has been operating for 13 years, they have a head office in USA.

First Trade is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). These figures have rules that mandate that trading platforms have measures in place to maintain investor's assets secured. This usually means that First Trade users do not need to worry about their money as it is segregated and safely kept in banks that are established. SSL encryption secures every user's private information as well.

You can make use of an option for 2 Factor Authentications (2FA) with First Trade for heightened safety. An SMS with the verification code will be sent to your mobile phone. You'll be asked to input this code to log in to your accounts.

Another concern with fiscal brokers with regards to security may be manipulation of trading. This is highly disadvantageous for users on these platforms. However, this is more prevalent in the case of Market Maker brokers who compete with customers on the stage.

Pro's & Con's Of Trading With First Trade

Every online trading platform will have some ups and downs, and no First Trade review would be complete without showing both sides. This First Trade review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.

First Trade Pro's

  • First Trade is trusted by 10,000+ clients
  • First Trade doesn't charge inactivity fees
  • First Trade doesn't charge deposit fees
  • First Trade doesn't charge CFD fees
  • First Trade offer trading on MT4,WEB
  • First Trade offer 101 trading instruments
  • First Trade trades major forex pairs
  • First Trade can communicate in

First Trade Con's

  • First Trade does not offer Negative Balance Protection
  • First Trade does not offer Guaranteed Stop Loss
  • First Trade charge withdrawal fees
  • First Trade doesn't trade minor forex pairs
  • First Trade doesn't trade exotic forex pairs
  • First Trade doesn't offer trading on cryptocurrencies

First Trade Review - Compare Brokers Similar To First Trade

First Trade Amscot Stockbroking EagleFX Invast Global
Rating 4/5 4/5 4/5 4/5
Minimum Deposit $5 $500 $10 $25000
Year Founded 2008 1853 2019 1960
Headquarters USA Austrailia Dominica Australia
Regulated By Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) Ministry of Economic Affairs and Communications (Estonia) Unregulated Australian Securities and Investment Commission (ASIC)
Clients 10,000+ 10,000+ 5,000+ 10,000+
Find Out More
Risk Warning Your capital is at risk Your capital is at risk Your capital is at risk Losses can exceed deposits

First Trade Review - Regulation And Licencing In More Detail

First Trade is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).

First Trade, as a business, has a strong collection of rules for ensuring honest trading on its platform. For information encryption functions, it provides an industry-standard secure socket layer (SSL).

In accordance with the company's privacy regulations, customer data is to not be shared with any other institutions or individuals. This includes credit history and other financial information.

First Trade Review - Awards

    At the time of writing this First Trade review, they had not received any awards.

First Trade Review - Minimum Deposit Required

The minimum deposit that you need to get started on First Trade is $5. This is an adequate amount for those just starting out. You can make more advanced residue as you go along. However, ensure that you know how to make the most of your cash before investing larger sums.

First Trade Review - Commission And Fees Explained

First Trade is an online broker platform, and most online brokerages charge lower prices than traditional brokerages tend to charge. The cause of this is that the companies of online brokerages are scaled much better. That is, an internet broker isn't necessarily affected by the number of clients they have.

However, this does not mean that online brokers do not charge any fees. They charge fees of varying rates for a variety of services to earn money. There are mainly 3 types of penalties for this purpose.

The first sort of charges to look out for are trading charges. Whenever you make a genuine trade, like purchasing a stock or an ETF, you're charged trading charges. In such cases, you are spending a spread, financing rate, or a commission. The sorts of trading fees and the prices differ from broker to broker.

Commissions can be fixed or dependent on the traded volume. On the flip side, a spread denotes the difference between the buying and selling cost. Funding or overnight rates are those that are charged when you hold a leveraged position for more than daily.

Aside from trading charges, online agents also charge non-trading fees. These are determined by the actions you undertake on your accounts. They're charged for operations like depositing money, not investing for long periods, or withdrawals.

Generally, First Trade doesn't charge high fees compared to other online agents. For operations other agents fee for, they do not charge a brokerage fee, or they charge a lesser amount. This is beneficial for those who often trade, for example weekly or daily trading.

But, non-trading fees charged by First Trade are comparatively higher. Consequently, you are charged more for non-trading actions in your trading accounts, such as withdrawal and deposits. These aren't related to the sale and purchase of assets.

This First Trade review breaks down every one of the applicable non-trading fees for you in detail.

Compare broker fees against First Trade

First Trade Amscot Stockbroking EagleFX Invast Global
Minimum Deposit $5 $500 $10 $25000
Withdrawal Fees variable variable variable variable
Inactivity Fees No No
Deposit Fees No variable
CFD Fees Yes 0.06%- 0.30%

First Trade Review - Withdrawal Fees Explained

First Trade charges a withdrawal fee if you create a bank transfer. Each time you move money into your bank account, these withdrawal charges become applicable.

Withdrawal of cash is possible at any time from your First Trade account. It's possible to withdraw up sums to the amount of your account balance, keeping aside the perimeter utilized. One thing to remember is that you don't always need to have any money in your account.

In addition, the withdrawn money will be moved directly to the account you use to make deposits. Thus, in the event that you used a credit card for deposits, then the withdrawn money is going to be sent into the card. First Trade will ask you to provide other withdrawal methods if your details have changed since your deposit.

There is a minimum withdrawal amount. In case you're withdrawing cash in different currencies from USD, a conversion fee is also important. The conversion fee will depend on the money you are opting to withdraw in.

First Trade Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is only one of those buzzing questions which run through your mind when open an account with First Trade. An inactivity fee is an amount charged to registered traders who have not engaged in buying or selling for a while. The period regarded as inactive is determined by the broker.

The inactivity fee differs from 1 agent to another and isn't standardized. If a traders account does not have a purchasing or selling transaction, it is maintained by the broker as an inactivity charge. The traders have to pay this fee under conditions and terms that they had consented while enrolling.

First Trade doesn't charge inactivity fees so you are free to pop in and out of your account as needed

Even if no fees are implied by First Trade, it's better for you to close the account if you are inactive. Inactivity fees are not only charged by broker companies but also many financial services.

For other trading platforms, the inactivity fee depends on the sort of account you have selected. The inactivity fee is exposed to many circumstances and should be disclosed clearly by the agent beforehand.

First Trade Review - Deposit Fees Explained

When you transfer money into your trading account from your bank account, a deposit fee can be charged by the broker. Most brokers don't charge too much money for this particular operation.

First Trade doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed

Depositing money on the First Trade trading platform is easy. You just have to complete a single-user profile questionnaire to start depositing money into your trading account. You'll need to give an identity evidence and proof of residency to deposit substantial amounts.

First Trade Review - Compare Broker Deposit Methods

First Trade Amscot Stockbroking EagleFX Invast Global
Minimum Deposit $5 $500 $10 $25000
Credit Card

What Can You trade With First Trade?

Note: First Trade provides a lot of different trading instruments due to regulatory restrictions in some countries. Trading instruments offered may be different depending on the country of residence of the client.

First Trade has a wide variety of over 101 instruments available for you to trade with.

If trading currency pairs is of interest to you then First Trade offer over currency pairs.

Compare First Trade, Amscot Stockbroking, EagleFX & Invast Global below.

First Trade Amscot Stockbroking EagleFX Invast Global
Platforms MT4, WEB IRESSTrader, IRESSInvestor, netIRESS, XPLAN MT4, Web Trader, Tablet & Mobile apps MT4,
Instruments Available 101 35 100 100
Forex & Crypto
Forex Pairs Available 50 15
Offers Major Forex Pairs? Yes No Yes Yes
Offers Minor Forex Pairs? No No Yes
Offers Exotic Forex Pairs? No No Yes
Offers Cryptocurrencies? No No Yes No
Commodity CFD's
Commodities Offered 0 0 0 0
Trade Metals? No No No Yes
Trade Energies? No No No Yes
Trade Agricultural? No No No No
Indiced & Stock CFDs
Stocks Offered 0 0 0
Trade UK Shares? No No No Yes
Trade US Shares? Yes No No Yes
Trade German Shares? No No No Yes
Trade Japanese Shares? No No No Yes

Your capital is at risk

Your capital is at risk

Your capital is at risk

Losses can exceed deposits

Alternatives To First Trade

If, after reading this First Trade review, First Trade does not quite meet your needs check out these First Trade alternatives.

We have scoured the internet to find the best alternatives to First Trade. Click on the hyperlinks below to find out more.

Frequently Asked Questions about First Trade

Can I try First Trade before I buy?

Yes, you can most certainly try First Trade before you buy. First Trade provides demo accounts for the ease of inexperienced traders. You can use this feature to build your faith in the machine as well as yourself and your trading strategies.

If you register to get a demonstration account on First Trade, you may set out with a decent amount of virtual currency. It is to establish a feeling of safety and confidence in you until you decide to invest your own money.

With this digital First Tradedemo account, you can experiment at all, to whatever period you wish. You might also start positions, examine different trading strategies, and more.

First Trade specifies on its official website which you are able to exchange real time stocks in a demo account.

Is First Trade safe?

It is possible to drop all your worries because we believe that First Trade is completely safe to use. It is in compliance with all the principles of Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).

Nevertheless, First Trade doesn't provide assured stop-loss protection.

Why does First Trade ask for my passport?

The reason that First Trade asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, First Trade has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, First Trade must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.

How can I start trading with First Trade?

The process to start trading withFirst Trade is perhaps simple enough to be a cakewalk. You need to begin by signing up on the First Trade website. It will require you to fill in details pertaining to the credibility and security of your account.

Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with First Trade is $5. You should have a good hold over the nuances of online trading before you set out and trade with real money.

If you are confident of your knowledge and understanding, you can open an account with First Trade.

The best way to kickstart your trading career with First Trade is to open a demo account facility before risking any real money

What funding methods do First Trade accept?

There are multiple ways to finance your accounts with First Trade. The process is effortless and quick, with different payment methods in your fingertips.

You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You have to bear in mind that PayPal isn't available in all place. The monies First Trade

Is my money safe with First Trade?

Yes, your money is safe and protected with First Trade. As you already know, First Trade operates with proper conformation to. It's established lots of steps to guard all of its investors.

First Trade safeguards its customers' personal and sensitive information under SSL encryption. Your funds will be kept highly secure in top-tier banks.

If you wish to further protect your accounts, you can enable Two-Step Verification as well. It takes an SMS confirmation that you access your account.

Is First Trade trading good?

Yes, trading through First Trade is a pleasant and decent experience indeed. It is a great and intuitive platform with helpful features for your ease. In addition, you can also obtain access to a vast collection of educational resources and assistive material to kickstart your trading expertise.

If you are still skeptical, it is possible to open a eToro demo account and assess the credibility of the platform for yourself.

Which Countries does First Trade support?

First Trade operates across the globe. However, due to regulations there are some countries that First Trade cannot accept clients from

Is First Trade legit?

First Trade is a legit company headquarted in USA since 2008. They are regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). First Trade is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.

Is First Trade a good broker?

First Trade is an excellent agent, and its own users may vouch for this. The highlight of the platform is its fast order execution on trades.

You'll discover the clean design of the platform and the commendable features a pleasure to work with.

Is First Trade a trustworthy broker?

Yes, First Trade is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.

What is the minimum deposit for First Trade?

The minimum deposit to open a live account with First Trade is $5

How long do First Trade withdrawals take?

Normally, withdrawal of money from First Trade is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from First Trade to show in your bank account.

Are First Trade regulated?

First Trade are regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA)

Is First Trade a market leading broker?

First Trade is indisputably among the business leaders. It has over 10,000+ registered users and over 13 years of expertise on its record. They're among the world's leading trading platforms and also a dominant figure in the Fintech revolution.

It simplifies this standing to its incredible platform and wide selection of tools plus resources so that you can put money into capital markets.

Is First Trade a con?

No, First Trade is not a con. They are regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and must adhere to their rules. Thus, it is safe to say that First Trade is not a scam.

Can you make money with First Trade?

Through First Trade, several traders earn a lot of money. But typically, through consistent trading, you can make between 2% - 10% profit a month.

This may seem like a little number, but over the year, this adds to a substantial number of gains. While First Trade provide you all of the tools to earn money, they cannot guarantee you will profit.

Does First Trade have fees?

Yes. To begin trading with First Trade, you need to deposit $5. Particular commissions while trading also apply. Any processing fees from your bank might have to be incurred by you.

When was First Trade founded?

First Trade was founded in 2008 in USA. First Trade is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).

How many people use First Trade?

First Trade is a globally recognised broker with 10,000+ customers.

Where is the First Trade head office?

First Trade has its head office in USA

Does First Trade offer negative balance protection?

No. First Trade doesn't offer negative balance protection. If your balance is unfavorable, First Trade indicates that you promptly contact client services. For this, you are able to fix any imbalances within your own account.

Does First Trade offer guaranteed stop loss?

First Trade unfortunately, does not provide guaranteed stop loss. First Trade provides a chance for its dealers to close their trade in their specified price. Aside from that, First Trade does not provide guaranteed stop loss.

Does First Trade allow scalping?

Yes, First Trade do permit scalping. Many traders across the world select First Trade for their services that are trading. They offer trading on MT4,WEB which allow this.

Does First Trade allow hedging?

Yes, First Trade does allow hedging.

Can you trade energies with First Trade?

No, unfortunately you cannot trade energy stock with First Trade

Can you trade agricultural shares with First Trade?

No, unfortunately you cannot trade agricultural stock with First Trade

Can you trade cryptocurrency with First Trade?

No, unfortunately you cannot trade cryptocurrency with First Trade

Can you trade metals with First Trade?

No, unfortunately you cannot trade metals with First Trade

Can you trade UK Shares with First Trade?

No, unfortunately you cannot trade UK shares with First Trade

Can you trade US Shares with First Trade?

Yes, you can trade US shares with First Trade

Can you trade Japanese Shares with First Trade?

No, unfortunately you cannot trade Japanese shares with First Trade

Can you trade German Shares with First Trade?

No, unfortunately you cannot trade German shares with First Trade

Does First Trade accept bank transfers?

No, First Trade does not accept bank transfers.

Does First Trade accept credit cards?

No, First Trade does not accept credit cards.

Does First Trade accept PayPal?

No, First Trade does not accept PayPal.

Does First Trade accept Skrill?

No, First Trade does not accept Skrill.

Does First Trade accept Payoneer?

No, First Trade does not accept Payoneer.

Does First Trade accept Neteller?

No, First Trade does not accept Neteller.

Does First Trade offer Live Chat customer support?

No, First Trade does not offer customer support through live chat.

Does First Trade offer phone customer support?

No, First Trade does not offer customer support over the telephone.

Does First Trade offer email customer support?

No, First Trade does not offer customer support through email.

What languages can First Trade communicate in?

First Trade has the ability to communicate and support customers who speak:

Does First Trade have a wikipedia page?

No, First Trade does not have an official wikipedia page.

Does First Trade offer demo accounts?

Yes, First Trade offers demo accounts so you can learn their systems before risking any real money.