Overview of First Trade Financial MT5
The financial services company named First Trade Financial MT5,which operates out of the United States and was founded in 2015. The company is unregulated and requires a minimum deposit of $5,000 from its clients.
First Trade Financial MT5 offers a range of market instruments including Forex, CFDs on shares, futures, indices, metals, and energy. Their trading services are accessible through the First Trade Financial MT5 platform. For customer support, clients can contact the company via the provided email address: support@firsttradefin.com.
Is First Trade Financial MT5 Limited Legit or a Scam？
First Trade Financial MT5 is currently listed as unauthorized by the National Futures Association (NFA) in the United States.
Despite holding a Common Financial Service License with the license number 0560956, the status “unauthorized” indicates that the company does not have the necessary approval or recognition from the NFA to operate as a regulated entity within the U.S. financial market.
Pros and Cons
Pros of First Trade Financial MT5:
Diverse Asset Platform: The platform offers a multi-asset investment platform with over 1000 traded commodities, allowing for a wide range of trading options and diversification.
Extensive Charting Capabilities: Traders can display up to 100 charts simultaneously, which can be highly beneficial for technical analysis and tracking multiple markets.
Order Variety: It supports all order types, including spot order, post order, stop-loss, and trailing stop loss, providing traders with comprehensive trade execution tools.
Technical Analysis Tools: With more than 80 technical indicators and 40 analysis tools, traders have access to extensive resources for market analysis.
Cross-Platform Support: The platform is accessible on various operating systems such as Windows, Mac, Linux, and also offers mobile trading solutions for Android and iOS devices.
Cons of First Trade Financial MT5:
Complexity for Beginners: The extensive features and tools offered may be overwhelming for novice traders who are not yet accustomed to such a comprehensive trading platform.
Unregulated: As previously mentioned, the platform is unregulated, which presents a higher risk of unfair practices and provides less security for traders.
High Minimum Deposit: The required minimum deposit of $5,000 may be a barrier for small or casual investors.
Potential Overload: Having the ability to display up to 100 charts at once can lead to information overload and may be more of a distraction than a benefit for some traders.
Technical Reliability: The benefits provided are contingent on the technical reliability of the platform. If there are any software glitches or issues, especially with the built-in MQL 5 development environment, it could hinder trading performance and results.
Market Instruments
Services offered by First Trade Financial MT5, as per the earlier image provided, include:
Forex: The foreign exchange market where currencies are traded. This is usually a primary service for most financial trading platforms.CFDs on Shares: Contracts for Difference allow traders
CFD on Shares:The CFD on Shares aims to speculate on the price movement of stocks without owning the underlying shares.
Futures: These are financial contracts obligating the buyer to purchase an asset or the seller to sell an asset, such as a physical commodity or a financial instrument, at a predetermined future date and price.
Indices: Trading on stock and other indices, which is a popular form of CFD trading that provides exposure to the entire sectors or economies.
Metals & Energy: Includes trading in commodities such as gold, silver, oil, and natural gas, which are staples in the commodity market trading.
Trading Platform
The trading platform of the company utilizes the MetaTrader 5 (MT5) platform, which is an advanced multi-asset platform for trading forex, stocks, and futures.
MT5 is known for its powerful trading system with depth of market and a system of separate accounting of orders and trades. It supports both order accounting systems: the traditional netting system and the hedging option system.
MT5 also offers advanced technical and fundamental analysis tools, algorithmic trading applications (trading robots, Expert Advisor), and copy trading. The platform is designed for traders looking for an edge in their trading, providing high-performance tools and features.
Customer Support
The customer support for First Trade Financial MT5 can be reached through the email address : support@firsttradefin.com. This suggests that the company offers customer service via email, allowing clients to inquire about services, get assistance with the trading platform, or resolve any issues they might face.
Conclusion
First Trade Financial MT5 presents itself as a multifaceted trading platform attracting traders interested in a wide array of financial instruments, including forex, CFDs, futures, indices, metals, and energy.
Founded in 2015 in the United States and operating without regulatory oversight, the platform demands a significant minimum deposit but compensates with a robust suite of trading tools and supports a variety of order types.
It is accessible across multiple operating systems and devices, offering technical analysis resources and a built-in development environment for advanced trading strategies.
FAQs
Q: What is the minimum deposit required to trade with First Trade Financial MT5？
A: The minimum deposit required to start trading with First Trade Financial MT5 is $5,000.
Q: Can I trade on First Trade Financial MT5 from any device？
A: Yes, First Trade Financial MT5 supports trading on various devices, including those running Windows, Mac, and Linux operating systems, as well as Android and iOS mobile devices.
Q: Does First Trade Financial MT5 offer technical analysis tools？
A: Yes, the platform provides more than 80 technical indicators and 40 analysis tools for in-depth market analysis.
Q: How can I contact customer support for First Trade Financial MT5？
A: Customer support for First Trade Financial MT5 can be reached via their email address: support@firsttradefin.com.
Q: Is MT5 suitable for beginners？
A: While MT5 is a powerful platform with advanced features, it may be complex for beginners. New traders may need time to familiarize themselves with the tools and features available.
Q: How many charts can I view simultaneously on First Trade Financial MT5？
A: First Trade Financial MT5 allows you to display up to 100 charts simultaneously, which can be useful for monitoring multiple markets or assets at the same time.
2024-03-08 15:20
