XM vs First Trade, Who's The Best?

Compare XM vs First Trade

Each online trading platforms has a few pros and cons, so any comprehensive analysis of XM vs First Trade should not be regarded as thorough without having a fair assessment.

Examine XM and First Trade in order to understand how they stack up with each other prior to you choose to create an account. A comprehensive comparison can bring aspects into perspective to ensure that you are cognizant of the expectations.

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

This XM vs First Trade comparison contains the latest information so you can easily compare First Trade against XM.

If you're a new entrant in the world of trading and brokers, so many nuances will be perplexing for you. Getting into the area of trading demands expert analyzing skills and thorough understanding. You will acquire adept at all of the concepts of broker as you continue trading. For starters, you need to select the right broker who will be transparent with you constantly.

In this fast-paced universe of stock markets and trading, you'll need advice to make correct decisions. A professionally direct investment plan has the potential to create hefty returns. XM and First Trade are two such platforms that will take you and your investment into great heights. It is crucial that you compare XM vs First Trade until you trust them with your cash.

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

Our entire XM vs First Trade Review covers all you need to know about trading using either XM or First Trade. A good agent can multiply your initial investments and provide you positive profits. If you would like to make profits, you must trade with a broker service that contrasts with your investing goals.

There's absolutely no sure-fire method to guarantee profits; therefore, you should carefully assess your broker before you choose them. It's a common misconception that all brokers will be exactly the same, but that's not correct. Wrong judgment, initially, can set your investments at risk.

XM and First Trade are both brokers that have found their way successfully into the broker world. Within this review, we have attempted to collate a number of the important facets of both XM and First Trade. This review can allow you to understand whether either First Trade or XM is a good fit for your own investments or not. We've attempted to breakdown all the features and fees for your advantage.

Benefits of XM and First Trade Compared

XM offers a minimum deposit of $5 while First Trade has a $5 minimum deposit.

Why smaller minimum deposits are good and how XM 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.

XM has around 100 financial instruments while First Trade has around 100 available.

The more instruments you can trade on the XM and First Trade trading 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 XM or First Trade.

XM and First Trade Contact Details

Being able to contact your broker through many ways is important. XM and First Trade have the following contact details and social medias that you can use.

First Trade and XM 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.

This part of comparing XM and First Trade will examine whether their mobile app meets all our requirements.

We rate overall the user-friendliness of the apps as Better than the 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. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin 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?

XM vs First Trade - Awards

XM vs First Trade - Frequently Asked Questions

XM vs First Trade - Headquarters And Year Of Founding

XM was founded in 2009 and has its head office in Cyprus.

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

What is the minimum deposit for First Trade or XM

The minimum deposit for XM is $5.

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 XM and First Trade are a good choice.

XM vs First Trade - Regulation And Licencing In More Detail

XM is regulated by International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC).

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

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

In accordance with their own privacy policies, client information is never to be shared with any other institutions or individuals. This includes credit history and other financial information.

Compare XM vs First Trade Commission And Fees

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

But this doesn't necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for a variety of services to make money. There are mainly three different types of fees for this purpose.

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

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

Apart from trading charges, online agents also bill non-trading fees. These are determined by the actions you undertake in your account. They are charged for surgeries like depositing money, not trading for long periods, or withdrawals.

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

However, non-trading fees billed by XM and First Trade are comparatively greater. Consequently, you are billed more for non-trading actions on your trading account, like deposits and withdrawal. These are not related to the purchase and sale of resources.

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

Compare Broker Fees For XM And First Trade

What Languages Do XM And First Trade Support?

Being able to communicate completely with your online broker is a key way of comparing online brokers to find your perfect broker. Not only for support but to ensure you completely understand everything on their site and inside their app as it is a key factor to success when trading online.

Below you can find the languages that both XM and First Trade support.

How Many Clients Do XM and First Trade Have?

Both XM and First Trade are well known and trusted. It is important to work with an online broker you can trust and one of the most simple ways of understanding this is by knowing how many customers they already work with.

Below you will find details of how many users XM and First Trade are working with

What Payment Methods Do XM and First Trade Accept?

XM 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 XM and First Trade

What Can You Trade With XM and First Trade?

XM offers 100 trading instruments whilst First Trade offers 101.

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