IC Markets vs First Trade, Updated for 2024
IC Markets Rating
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First Trade Rating
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Losses can exceed deposits |
Your capital is at risk |
IC Markets vs First Trade Guide |
Read our In-Depth IC Markets vs First Trade Review - for 2024
Our IC Markets vs First Trade review has been revised for 2024 by knowledgeable insiders with years of financial experience across Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this comparison of IC Markets vs First Trade 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.
Compare IC Markets vs First Trade
All platforms for online trading will have some advantages and disadvantages, so a complete analysis of IC Markets vs First Trade should not be regarded as thorough without having an objective perspective.
Assess IC Markets and First Trade to get a better understanding of just how they line up to each other prior to you choose to make an account. Conducting a comprehensive comparison helps to bring aspects into perspective so that you're aware of what to expect.
So you are looking for a professional 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 most recent information so you can easily compare First Trade against IC Markets.
If you are a new entrant in the world of trading and brokerages, so many facts will be confusing for you. Getting into the area of trading requires expert assessing skills and comprehensive understanding. You'll get proficient at all of the concepts of brokerage as you continue trading. For starters, you have to select the right agent who will be transparent with you constantly.
In this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally lead investment program has the potential to create hefty returns. IC Markets and First Trade are just two such stages which will take you along with your investment to great heights. It's crucial to compare IC Markets vs First Trade until 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 know about trading with either IC Markets or First Trade. A fantastic broker can multiply your initial investments and give you positive profits. If you want to make profits, you should trade with a brokerage service that aligns with your investing objectives.
There's absolutely no sure-fire way to guarantee profits; therefore, you must carefully assess your agent before you select them. It is a frequent misconception that all brokers are the same, but that is not correct. Wrong judgment, in the beginning, can set your investments at risk.
IC Markets and First Trade are both brokers that have paved their way successfully to the brokerage world. In this review, we've tried to collate a number of the important facets of both IC Markets and First Trade. This review will help you to understand whether either First Trade or IC Markets is a good fit for your own investments or not. We have attempted to breakdown all the qualities and charges for your convenience.
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 has around 232 financial instruments available.
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 through many ways is a sign of a professional broker. IC Markets and First Trade have the following contact details and social medias that you can use.
Broker | IC Markets | First Trade |
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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 |
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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.
This part of comparing IC Markets and First Trade will examine whether their mobile app meets all our requirements.
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 have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?
IC Markets vs First Trade - Awards
Broker | IC Markets | First Trade |
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Awards |
IC Markets have won a lot of industry awards over the time they have been running as an online trading platform. We detail 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. |
Find Out More |
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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 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 current situation, 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 strong collection of rules for ensuring fair trading on their own platforms. For data encryption purposes, they supply 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 information.
Compare IC Markets vs First Trade Commission And Fees
IC Markets 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 brokerages are scaled much better. That is, an online broker is not necessarily influenced by the amount of clients they have.
But this does not mean that online brokers don't charge any fees. They charge prices of varying rates for various services to make money. There are primarily three different types of fees for this objective.
The first sort of charges to look out for are trading fees. Whenever you make a genuine trade, like purchasing a stock or an ETF, you are billed trading fees. In such instances, you are paying a spread, funding rate, or a commission. The sorts of trading fees and the prices vary from broker to broker.
Commissions can be fixed or determined by the traded volume. On the other hand, a spread refers to the difference between the buying and selling cost. Financing or overnight prices are people that are charged when you hold a leveraged position for more than a day.
Aside from trading fees, online brokers also charge non-trading fees. These are determined by the activities you undertake in your account. They're charged for surgeries like depositing cash, not investing for lengthy periods, or withdrawals.
In general, neither IC Markets or First Trade charge high fees compared to other online agents. For operations other brokers charge for, they either do not charge a broker fee, or they charge a lesser amount. This is beneficial for those who regularly exchange, for example daily or weekly trading.
But, non-trading fees charged by IC Markets and First Trade are relatively competitive. Consequently, you are billed more for non-trading actions on your trading account, such as withdrawal and deposits. These aren't related to the purchase and sale of resources.
This IC Markets vs First Trade review for 2024 breaks down each of the applicable 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 easily with your trading broker is a key part of comparing brokers to find the best broker. Not only for support but to ensure you understand everything on their website and inside their app as it is a key part of success when trading online.
Here you will find 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 client base. It is important to work with an online broker you can trust and one of the most simple ways of establishing this is by knowing how many clients are using their services.
Below you will find details of how many customers IC Markets and First Trade are working with
Broker | IC Markets | First Trade |
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Clients / Users | 60,000+ | 10,000+ |
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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
Broker | IC Markets | First Trade |
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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 and First Trade offers 101.
Below you will find a full breakdown of what both IC Markets and First Trade offer.
IC Markets Review
IC Markets vs First Trade:
Table Of Contents
- Compare IC Markets vs First Trade
- Benefits of IC Markets and First Trade Compared
- First Trade and IC Markets Mobile App Comparison
- IC Markets vs First Trade - Awards
- IC Markets vs First Trade - Frequently Asked Questions
- What is the minimum deposit for First Trade or IC Markets
- IC Markets vs First Trade - Regulation And Licencing In More Detail
- Compare Broker Fees For IC Markets And First Trade
- What Languages Do IC Markets And First Trade Support?
- How Many Clients Do IC Markets and First Trade Have?
- What Payment Methods Do IC Markets and First Trade Accept?
- What Can You Trade With IC Markets and First Trade?