IC Markets vs First Trade, Who's The Best?
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IC Markets Rating: 8.34 / 10 |
First Trade Rating: 5.86 / 10 |
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Losses can exceed deposits |
Your capital is at risk |
IC Markets vs First Trade Guide |
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Read our In-Depth IC Markets vs First Trade Review - for 2022
This IC Markets vs First Trade review has been updated for 2022 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this IC Markets vs First Trade review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
First Trade Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
So you are looking for a broker and are choosing between IC Markets or First Trade. Who should you choose?
This IC Markets vs First Trade review contains the most recent information so you can easily compare First Trade against IC Markets.
If you are a new entrant in the realm of trading and brokers, so many facts will be perplexing for you. Getting into the world of trading requires expert assessing skills and thorough knowledge. You'll acquire adept at all the concepts of broker as you continue trading. For starters, you have to choose the right broker who will be transparent with you always.
In this fast-paced world of stock markets and trading, you will need advice to make correct decisions. A professionally direct investment plan has the potential to create hefty returns. IC Markets and First Trade are two such stages which will take you and your investment to great heights. It's important that you compare IC Markets vs First Trade before you trust them with your money.
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 will need to learn about trading with either IC Markets or First Trade. A fantastic agent can multiply your first investments and provide you positive profits. If you want to earn profits, you should trade with a broker service that aligns with your investment objectives.
There is no sure-fire method to ensure profits; thus, you must carefully analyze your broker before you select them. It's a frequent misconception that all brokers will be the same, but that is not true. Wrong judgment, initially, can put your investments at risk.
IC Markets and First Trade are both brokers that have paved their way successfully into the broker world. Within this review, we have tried to collate some of the vital aspects of both IC Markets and First Trade. This review can help you to understand whether either First Trade or IC Markets is a fantastic fit for your own investments or not. We have attempted to breakdown all the qualities and fees for your convenience.
Compare IC Markets vs First Trade
Every online trading platform will have a few ups and downs, and no IC Markets and First Trade review would be complete without having a balanced approach. Compare IC Markets and First Trade to understand how they line up against each other before you open an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
Benefits of IC Markets and First Trade Compared
IC Markets has 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 while First Trade allows you to trade 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 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 vital. IC Markets and First Trade have the following contact details and social medias that you can use.
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| Broker | IC Markets | First Trade |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | ||
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
| IC Markets Twitter Account | First Trade Twitter Account | |
| IC Markets Facebook Page | First Trade Facebook Page | |
| IC Markets Instagram Account | First Trade Instagram Account | |
| IC Markets LinkedIn Page | First Trade LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | First Trade YouTube Channel |
| Find Out More |
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First Trade and IC Markets Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide 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.
We rate overall the user-friendliness of both apps as better than average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Search Functions
While most brokers are good at this, there are some poor ones. 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
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| Broker | IC Markets | First Trade |
| Awards |
IC Markets have won a lot of industry awards over the years they have been running as an online trading platform. We show the most recognised awards for IC Markets below.
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At the time of writing this First Trade review, and despite First Trade’s impressive offering, the company has surprisingly not garnered any awards to date. |
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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 headquaters 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 needs, 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 collection of rules for ensuring fair trading onto their own platforms. For data encryption purposes, they provide industry-standard secure socket layers (SSL).
In accordance with their individual privacy regulations, customer 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 broker platforms, and most online brokerages charge lower fees than traditional brokerages tend to bill. The cause of this is that the companies of online trading platforms are scaled better. That is, an internet broker isn't necessarily influenced by the number of customers they have.
But this doesn't necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for various services to make money. There are primarily 3 different types of penalties for this purpose.
The first sort of fees to look out for are trading charges. When you make an actual trade, like buying a stock or an ETF, you're billed trading fees. In these instances, you are paying a spread, funding speed, or a commission. The kinds of trading charges and the rates differ from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the other hand, a spread denotes the difference between the buying and selling cost. Funding or overnight prices are people who are billed when you maintain a leveraged position for more than a day.
Apart from trading charges, online agents also charge non-trading fees. These are determined by the actions you undertake in your accounts. They're billed for surgeries like depositing cash, not investing for long periods, or withdrawals.
In general, neither IC Markets or First Trade charge high fees in comparison to other online agents. For operations other agents fee for, they either do not charge a brokerage fee, or they charge a smaller sum. This is beneficial for people who often exchange, such as weekly or daily trading.
However, non-trading fees charged by IC Markets and First Trade are relatively greater. Consequently, you're billed more for non-trading actions in your trading accounts, like withdrawal and deposits. These are not related to the purchase and sale of assets.
This IC Markets vs First Trade review for 2022 breaks down each of the applicable non-trading charges 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 talk easily with your online platform is a key way of comparing online brokers to find your perfect broker. Not only for support but to ensure you understand everything on their site and inside their app as it is a key factor to success when trading online.
Here you can find the languages that both IC Markets and First Trade offer communication in.
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 an online broker you can trust and one of the easiest ways of establishing this is by knowing how many customers are using their services.
Below you will find details of how many clients IC Markets and First Trade have
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| Broker | IC Markets | First Trade |
| Clients / Users | 60,000+ | 10,000+ |
| Find Out More |
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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
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| Broker | IC Markets | First Trade |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Payoneer | No | Yes |
| Neteller | Yes | No |
| Find Out More |
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What Can You Trade With IC Markets and First Trade?
IC Markets offers 232 trading instruments whilst First Trade offers 101.
Below you will find a full breakdown of what both IC Markets and First Trade offer.
Compare IC Markets To All Other Brokers
Compare First Trade To All Other Brokers
