First Trade Review for 2019

First Trade Rated 3/5
First Trade have a low rating. We recommend you look at one of their alternative brokers.
Good alternatives to First Trade

First Trade Introduction

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of First Trade we break down the pros and cons. What First Trade are able to offer, what countries First Trade are available in. Who First Trade are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Open First Trade's Website

As with any investment your capital is at risk, losses can exceed deposits.

At the bottom of this review you can also learn about some pretty good alternatives to First Trade

With this review we hope to help you see if First Trade is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding First Trade that will help you get off to a good start in the world of online trading.

First Trade what you should know

First Trade offer four ways to trade: Forex trading, Spread Betting, Social trading, .

With First Trade you will need a minimum deposit of $$5. You can sign up for a demo account to acquaint yourself with First Trade platform.

First Trade are able to accommodate various levels of traders whether you are experienced or a beginner.


Are First Trade safe?

When choosing a broker like First Trade the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in , and in operation for 2019 years First Trade have a head office in USA.

First Trade is regulated. This means First Trade are supervised by and is checked for conduct by the The Sherman Act regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to First Trade, this will be honored. If First Trade violate any regulatory rules their regulated status could be stripped.

Any payments funded to First Trade accounts by traders are held in a segregated bank account.

For added security First Trade use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with First Trade. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit First Trade

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What we like

  • Used by over 10,000 traders
  • Established in
  • Regulated by The Sherman Act
  • Min. deposit from $$5
  • unlimited demo account

What we don't like

First Trade General Fees

  • First Trade withdrawal fees varies on payment method
  • First Trade does charge inactivity fees

First Trade Commissions

  • First Trade does charge commission on CFD shares

What can you trade with First Trade?

You can trade a wide variety of instruments with First Trade over 101 instruments infact.

If you are looking at trading currency pairs First Trade offer over currency pairs.

Compare First Trade with Interactive Brokers and XTB below.

FX / Currencies firsttrade IB XTB
# of forex pairs offered 10 50
Major forex pairs Yes Yes Yes
Minor forex pairs No Yes
Exotic forex pairs No Yes
Cryptocurrencies No No Yes
Commodity CFDs First Trade Interactive Brokers XTB
# of commodities offered 0
Metals No Yes Yes
Energies No Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs First Trade Interactive Brokers XTB
# of Stocks offered 1500
UK Shares No Yes Yes
US Shares Yes Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
firsttrade's
Instruments
IB's
Instruments
XTB's
Instruments

Trading on First Trade web platforms and other applications

First Trade offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

First Trade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See firsttrade's platforms

First Trade Trading benefits :

  • Low min deposit

First Trade Trading Accounts offered:

  • Standard account

Can I try First Trade before I buy?

First Trade offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

What funding methods do First Trade accept?

First Trade offer the below funding payment methods. learn more about First Trade

  • Skrill
  • Neteller

How can I start trading with First Trade?

When opening a trading account with First Trade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on First Trade trading platforms here.

Performing trades with First Trade

First Trade allow you to execute a minimum of trade of $0. This may vary depending on the account you open. First Trade allow you to execute a maxium trade of varies.

As a market maker, First Trade may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, First Trade offer margin up to % on currencies.

Support at First Trade

First Trade support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

What you will need to open an account with First Trade

As First Trade is regulated by The Sherman Act, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore First Trade's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with First Trade you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.firstrade.com on 12th August 2018.

FIRST TRADE Frequently Asked Questions

Can I try First Trade before I buy?

First Trade do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do First Trade accept?

First Trade offer the below funding payment methodsSkrill, Neteller, among other payment methods. Learn more here

How can I start trading with First Trade?

When opening a trading account with First Trade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on First Trade trading platforms here.

Is my money safe with First Trade?

First Trade is regulated by The Sherman Act. One of the most important criteria for traders when choosing a broker like First Trade is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to First Trade, this will be honored. If they violate any regulatory rules their regulated status can be stripped.