eToro vs First Trade, Who's The Best?
Read our In-Depth eToro vs First Trade Review - for 2022
This eToro 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 eToro vs First Trade review does not apply to all countries as follows:
eToro Excluded Countries
Iran, Democratic Peoples Republic of Korea, Belgium, Canada, Japan, Syrian Arab Republic, Turkey, Israel, Belarus, Albania, Republic of Moldova, North Macedonia, Serbia, Guinea, Democratic Republic of the Congo, Sudan, Zimbabwe, Ethiopia, Ghana, Tanzania, Libya, Uganda, Zambia, Botswana, Rwanda, Tunisia, Somalia, Namibia, Togo, Sierra Leone, Liberia, Gambia, Djibouti, Ivory Coast, Pakistan, Brunei Darussalam, Taiwan, Province of China, Samoa, Nepal, Singapore, US Virgin Islands, Turkmenistan, Tajikistan, Uzbekistan, Sri Lanka, Trinidad and Tobago, Haiti, Myanmar, Bhutan, Marshall Islands, Maldives, Kazakhstan, Grenada, Fiji, Barbados, Bermuda, Bahamas, Antigua and Barbuda, Anguilla, Aruba, Lebanon, El Salvador, United States of America, Paraguay, Honduras, Guatemala, Puerto Rico, Nicaragua, British Virgin Islands, and Netherlands Antilles.
First Trade Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare eToro vs First Trade
Every online trading system will have some ups and downs, and no eToro and First Trade review would be complete without having a balanced approach. Compare eToro 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.
So you are looking for an online trading platform and are choosing between eToro or First Trade. Who is better in 2022?
This eToro vs First Trade comparison contains the latest information so you can easily compare First Trade against eToro.
If you are a new entrant in the world of trading and brokers, so many details will be perplexing for you. Getting into the world of trading demands expert assessing skills and thorough understanding. You will acquire proficient at all the concepts of broker since you continue trading. For starters, you need to select the right broker who'll be transparent with you always.
Within this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally direct investment program has the potential to create hefty returns. eToro and First Trade are just two such platforms that will take you along with your investment to great heights. It is important to compare eToro vs First Trade until you trust them with your money.
Our eToro vs First Trade comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust eToro and First Trade side by side.
Our full eToro vs First Trade Review covers all you need to know about trading using either eToro or First Trade. A fantastic agent can multiply your first investments and provide you favorable profits. If you want to earn profits, you should trade with a broker service that contrasts with your investment objectives.
There is no sure-fire way to guarantee profits; thus, you must carefully analyze your agent before you choose them. It's a common misconception that all brokers will be the same, but that's not true. Wrong judgment, in the beginning, can put your investments in danger.
eToro and First Trade are both brokers which have found their way successfully into the brokerage world. Within this review, we've tried to collate a number of the important aspects of both eToro and First Trade. This review will allow you to understand whether either First Trade or eToro is a fantastic match for your investments or not. We have tried to breakdown all of the qualities and charges for your advantage.
Benefits of eToro and First Trade Compared
eToro offers a minimum deposit of $50 while First Trade offers a $5 minimum deposit.
Why smaller minimum deposits are good and how eToro 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.
eToro has around 100 financial instruments while First Trade has around 100 financial instruments on their platform.
The more instruments you can trade on the eToro 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 seriously do not want to miss out on a trading opportunity due to the limitations of eToro or First Trade.
eToro and First Trade Contact Details
Being able to contact a broker simply is vital. eToro and First Trade have the following contact details and social medias that you can use.
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| Broker | eToro | First Trade |
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| support@etoro.com | ||
| Address | 24th floor, One Canada Square, Canary Wharf, London, E14 5AB | |
| eToro Twitter Account | First Trade Twitter Account | |
| eToro Facebook Page | First Trade Facebook Page | |
| eToro Instagram Account | First Trade Instagram Account | |
| eToro LinkedIn Page | First Trade LinkedIn Page | |
| YouTube | eToro YouTube Channel | First Trade YouTube Channel |
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First Trade and eToro 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 eToro and First Trade we'll check whether either of their mobile apps tick all the boxes.
Overall, we rate the user-friendliness of the apps as Better than the average.
It is important that any trading app has user friendly capabilities especially with the
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?
eToro vs First Trade - Awards
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| Broker | eToro | First Trade |
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eToro have won numerous industry awards over the years they have been operating as an online broker. We show the most recognised awards for eToro here.
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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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eToro vs First Trade - Frequently Asked Questions
eToro vs First Trade - Headquarters And Year Of Founding
eToro was founded in 2007 and has its head office in Cyprus, UK.
First Trade was founded in 2008 and has its headquaters in USA.
What is the minimum deposit for First Trade or eToro
The minimum deposit for eToro is $50.
The minimum deposit for First Trade is $5.
Depending on your current situation, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both eToro and First Trade are a good option.
eToro vs First Trade - Regulation And Licencing In More Detail
eToro is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC).
First Trade is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).
Both eToro and First Trade have a strong set of rules for ensuring fair trading onto their own platforms. For data encryption purposes, they supply industry-standard secure socket layers (SSL).
As per their privacy policies, customer information is to not be shared with any other institutions or individuals. This includes credit history and other financial information.
Compare eToro vs First Trade Commission And Fees
eToro and First Trade are online broker platforms, 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 online broker is not necessarily affected by the amount of customers they have.
However, this does not mean that online brokers don't charge any fees. They charge fees of varying rates for various services to earn money. There are primarily 3 types of penalties for this objective.
The first kind of fees to look out for are trading fees. When you make a genuine trade, like purchasing a stock or an ETF, you are charged trading fees. In such instances, you're spending a spread, funding rate, or a commission. The kinds of trading charges and the prices differ from broker to broker.
Commissions can be fixed or determined by the traded volume. On the flip side, a spread denotes the difference between the buying and selling price. Financing or overnight prices are those who are charged when you maintain a leveraged position for longer than a day.
Aside from trading fees, online brokers also charge non-trading fees. These are determined by the activities you undertake on your accounts. They're billed for surgeries like depositing money, not trading for long periods, or withdrawals.
Generally, neither eToro or First Trade charge high fees in comparison to other online agents. For operations other brokers fee for, they either do not charge a broker fee, or they charge a lesser amount. This is beneficial for people who regularly trade, for example weekly or daily trading.
However, non-trading fees billed by eToro and First Trade are comparatively greater. Consequently, you are charged more for non-trading activities in your trading account, such as withdrawal and deposits. These are not related to the sale and purchase of resources.
This eToro vs First Trade review for 2022 breaks down every one of the relevant non-trading charges for you in detail.
Compare Broker Fees For eToro And First Trade
What Languages Do eToro 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 trading partner. Not only for support but to be sure you completely understand everything on their site and inside their application as it is a key part of success when trading online.
Here you will find all the languages that both eToro and First Trade offer communication in.
How Many Clients Do eToro and First Trade Have?
Both eToro and First Trade are well established with their customer base. It is important to work with an online broker that is reputable and one of the most simple ways of understanding this is by knowing how many customers are using their services.
Below you will find details of how many clients eToro and First Trade are working with
What Payment Methods Do eToro and First Trade Accept?
eToro 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 eToro and First Trade
What Can You Trade With eToro and First Trade?
eToro offers 100 trading instruments and First Trade offers 101.
Below you will find a full breakdown of what both eToro and First Trade offer.
Compare eToro To All Other Brokers
Compare First Trade To All Other Brokers