IC Markets vs First Trade, Who's Better?

Compare IC Markets vs First Trade

Every platforms for online trading feature certain pros and cons, and any comprehensive analysis of IC Markets vs First Trade would not be complete without adopting a balanced approach.

Compare IC Markets and First Trade to understand how they stack up to one another prior to you open an account. Conducting a side-by-side comparison will place factors into perspective to ensure that you remain informed about the expectations.

So you are looking for a reputable broker and are choosing between IC Markets or First Trade. Which one is best in 2024?

Our IC Markets vs First Trade comparison contains the latest information so you can easily compare First Trade against IC Markets.

If you're a new entrant in the realm of trading and brokers, so many nuances will be confusing for you. Getting into the world of trading requires expert analyzing skills and thorough understanding. You'll acquire proficient at all the concepts of broker since you continue trading. For starters, you have to choose the ideal broker who'll be clear with you always.

Within this fast-paced universe of stock markets and trading, you will need advice to make correct decisions. A professionally direct investment program has the potential to create hefty returns. IC Markets and First Trade are just two such trading platforms which will take you along with your investment to great heights. It is crucial that you compare IC Markets vs First Trade until you trust them with your cash.

Our IC Markets vs First Trade comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and First Trade side by side.

Our entire IC Markets vs First Trade Review covers everything you need to know about trading with either IC Markets or First Trade. A fantastic broker can multiply your first investments and provide you positive profits. If you want to make profits, you must trade with a broker service that aligns with your investment objectives.

There is no sure-fire method to guarantee profits; thus, you should carefully analyze your agent before you choose them. It's a frequent misconception that all brokers are the same, but that is not true. Wrong judgment, initially, can put your investments in danger.

IC Markets and First Trade are both brokers that have found their way successfully into the broker world. Within this review, we have tried to collate a number of the important aspects of both IC Markets and First Trade. This review can allow you to understand whether either First Trade or IC Markets is a good match for your own investments or not. We've attempted to breakdown all the qualities and charges for your convenience.

Benefits of IC Markets and First Trade Compared

IC Markets offers a minimum deposit of $200 while First Trade has a $5 minimum deposit.

Why smaller minimum deposits are good and how IC Markets and First Trade compare

The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.

IC Markets has around 232 financial instruments whilst First Trade has around 232 financial instruments on their platform.

The more instruments you can trade on the IC Markets and First Trade platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you should never want to miss out on a trading opportunity due to the limitations of IC Markets or First Trade.

IC Markets and First Trade Contact Details

Being able to contact your broker simply is important. IC Markets and First Trade have the following contact details and social medias that you can use.

First Trade and IC Markets Mobile App Comparison

As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.

In this part of our comparison of IC Markets and First Trade we'll check whether either of their mobile apps tick all the boxes.

Overall, we rate the user-friendliness of both apps as better than average.

It is important that any trading app has user friendly capabilities especially with the

Search Functions

Although most brokers do OK in this area, there are some bad apples out there. For example, if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start with 'emerging'? If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?

IC Markets vs First Trade - Awards

IC Markets vs First Trade - Frequently Asked Questions

IC Markets vs First Trade - Headquarters And Year Of Founding

IC Markets was founded in 2007 and has its head office in Australia.

First Trade was founded in 2008 and has its headquaters in USA.

What is the minimum deposit for First Trade or IC Markets

The minimum deposit for IC Markets is $200.

The minimum deposit for First Trade is $5.

Depending on your circumstances, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and First Trade are a good option.

IC Markets vs First Trade - Regulation And Licencing In More Detail

IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).

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

Both IC Markets and First Trade have a powerful set of rules for ensuring honest trading onto their platforms. For information encryption purposes, they provide industry-standard secure socket layers (SSL).

In accordance with their privacy regulations, client information is to not be shared with any other institutions or individuals. Including credit history and other financial details.

Compare IC Markets vs First Trade Commission And Fees

IC Markets and First Trade are online brokerage platforms, and many online brokerages charge lower prices than traditional brokerages tend to charge. The reason for this is that the businesses of online brokerages are scaled much better. That is, an online broker isn't necessarily affected by the amount of customers they have.

However, this doesn't necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for various services to earn money. There are primarily 3 different types of fees for this purpose.

The first kind of charges to look out for are trading charges. Whenever you make a genuine trade, like buying a stock or an ETF, you are billed trading fees. In these cases, you are paying a spread, funding rate, or even a commission. The sorts of trading fees and the rates differ from broker to broker.

Commissions can be fixed or determined by the traded volume. On the flip side, a spread denotes the gap between the buying and selling cost. Funding or overnight rates are those that are charged when you hold a leveraged position for longer than a day.

Aside from trading fees, online brokers also bill non-trading fees. These are determined by the actions you undertake in your accounts. They're charged for operations like depositing cash, not investing for long periods, or withdrawals.

Generally, neither IC Markets or First Trade charge high fees in comparison to other online agents. For operations other brokers charge for, they either do not charge a broker fee, or they charge a smaller amount. This is beneficial for people who regularly exchange, for example weekly or daily trading.

However, non-trading fees billed by IC Markets and First Trade are relatively higher. Consequently, you are billed more for non-trading actions in your trading account, like withdrawal and deposits. These are not about the purchase and sale of assets.

This IC Markets vs First Trade review for 2024 breaks down every one of the relevant non-trading fees for you in detail.

Compare Broker Fees For IC Markets And First Trade

What Languages Do IC Markets And First Trade Support?

Being able to chat completely with your online platform is a key part of comparing trading platforms to find the best trading partner. Not only for support but to be sure you understand everything on their website and inside their app as it is a key factor to success when trading forex.

Below you will find all the languages that both IC Markets and First Trade support.

How Many Clients Do IC Markets and First Trade Have?

Both IC Markets and First Trade are well established with their customer base. It is important to work with a broker that is reputable and one of the easiest ways of understanding this is by knowing how many clients they already work with.

Below you will find details of how many clients IC Markets and First Trade are active on their platform

What Payment Methods Do IC Markets and First Trade Accept?

IC Markets and First Trade both offer a wide range of payment options which is vital when you have a global customer base.

Below you will find details of all the payment options available at IC Markets and First Trade

What Can You Trade With IC Markets and First Trade?

IC Markets offers 232 trading instruments and First Trade offers 101.

Below you will find a full breakdown of what both IC Markets and First Trade offer.