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Firstrade vs MEXEM : Fees, Safety & Trading Conditions Compared (2026)
Broker Name
Firstrade
MEXEM
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
STP broker
STP
Years of Existence / Established Year
1985
2018
Customer Base / Number of Accounts
1Million
Info not available
Regulation & Security
Regulations (governing bodies)
FINRA, SEC
Cysec AFM FSMA
Awards Won (count for the last 2 years)
Best Online Brokers, Best for Options Traders award.
No major awards listed
Security Measures
SIPC
ICCL
SSL Encryption / 2FA
Yes
Yes
Segregated Funds
Yes
Yes
Negative Balance Protection
No
Yes
Trading Instruments/Products Offered
Assets Types / Trading Instruments (total count and breakdown)
2200+ ETFs including CDs, Treasury bills, Notets and bonds, Primary market CDs, Zeros and strips and more
150 + trading assets Warrant
Currency Pairs
No
Yes
Commodities
No
Yes
Indices
Yes- Through ETFs
No
Cryptocurrencies
Yes- Through ETFs
Yes
CFDs
No
Yes
ETFs
Yes
Yes
Stocks
Yes
Yes
Options
Yes
Yes
Futures
No
Yes
Bonds
Yes
Yes
Mutual Funds
Yes
Yes
Fractional Shares
Exchange Traded Notes (ETNs)
Yes
No
Precious Metals
No
Yes
Real Estate Investment Trusts (REITs)
Yes
No
Equities
No
Yes
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
No
MT5
Yes
No
cTrader
No
No
Social Trading
No
Copy Trading
No
Yes
Other Trading Platforms (proprietary, etc.)
Firstrade platform
Client Portal Desktop TWS Mobile TWS MEXEM Lite Watch TWS MEXEM APIs
Platform Compatibility (Windows, Mac, iOS, Android)
Yes
Yes
Account Types & Conditions
Account Types (Retail, Pro, VIP, etc.)
Brokerage account- Individual, Joint, Custodial, Retirement- Retirement (Traditional IRA, Roth IRA, SEP IRA), Corporate, Trust, International, Education Planning, Business Planning
Individual Accounts Instituitional Accounts
Demo Account (Yes/No)
No
Yes
Islamic Accounts (Yes/No)
No
No
Minimum Deposit
$0
$0
Leverage Available
No
NA
Trade Limit (maximum per trade)
Depends on asset class
Varies for each product
Commission (per account type)
$0
NA
Best Suited For (e.g., beginners, experienced traders)
Both beginners and experienced traders
Experienced only
Deposit & Withdrawal Options
Deposit Methods
Wire Fund Transfer, Check deposit, Asset transfer, ACH electronic transfer
Bank Transfer
Withdrawal Methods
Wire Fund Transfer, Check Deposit, Asset transfer, ACH electronic transfer, Withdrawal of sales proceed
Bank Transfer
Other E-Wallets Supported
No
No
Tools & Educational Resources
Economic Calendar
Yes
No
Tools & Educational Resources (tutorials, webinars, market news, etc.)
Education Center, Investment Education Videos, Option Guide, Margin Guide, Webinars, Tax center, Blogs, Upcoming IPOs
Practical tutorials on using TWS trader workstatioin Video tutorials
Fees & Commissions
Trading-Related Fees
Commission for stocks, ETFs, Options, Mutual funds- $0, Fixed income- Treasury Bills, Notes & Bonds, Municipal Bonds, Agency Bonds, Secondary Market CDs, Zeros & Strips- Net yield basis, Primary Market CDs- $30, Broker-Assisted Stock & Options Trades- $19.95 (+$0.50/Contract)
FX - 0.005% Warrents - 0.2% for EUR & HKD. 0.12% for AUD Metals - 0.03% in USD Bonds - 0.15% Mutual Funds - 0.1% (Max Euro 4 and Min Eur 29) Futures & Options - vary for each currency contract Stocks & ETFs - vary for each currency
Spread (typical, fixed, variable)
Typical
NA
Per Lot Fees
NA
NA
Options Contract Fees
$0
0.65% per contract
Futures Contract Fees
NA
0.85% per contract
Markup Fees on Spread
NA
NA
Guaranteed Stop Loss Fees
NA
NA
Maximum Leverage
No
NA
Non-Trading Fees
Dormant Fees
$0
NA
Subscription Fees (for premium features, data feeds)
NA
NA
Advisory Fees
0.20-0.30%
$0
Swap Fees (Overnight Financing)
NA
NA
Statement or Document Fee
$2-$5
NA
Account Opening Fee
$0
$0
Account Maintenance Fee
$0
$0
Deposit Fee
$0
$0
Currency Conversion Fee
3%
0.05%
Withdrawal Fee
$25-$75
First withdrawal (within 30 days) is free for all methods. Wire/SEPA Euro: £8 /w. Wire USD: $10 /w SEPA GBP: £7 / w
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
Yes
Yes
Trading Hours
Trading Hours (for each asset class if applicable)
Pre-Market: 8:00 AM to 9:30 AM ET Regular Market: 9:30 AM to 4:00 PM ET After-Hours: 4:05 PM to 8:00 PM ET
Monday to Thursday 8:30am to 8pm Friday 8:30 am to 5:30 pm Saturday and Sunday closed
Customer Support
Support Hours (e.g., 24/7, weekdays only)
Monday - Friday,10am - 4pm ET
Monday to Thursday: 8:30am to 8:00pm. Friday: 8:30am to 5:30pm.
Customer Support Methods (phone, email, live chat)
Phone: U.S. Toll Free: 1-800-869-8800, Outside the US: 1-718-961-6600, E-mail, FAQ, Fax: 1-718-961-3919
Leave a message, Live chatCyprus - +357-25030447, mailto:[email protected]
Support Languages
3
10+
Additional Information
Headquarters Location
30-50 Whitestone Expwy. Ste. A301 Flushing, NY 11354
Archiepiskopou Kyprianou, 1 Loucaides Building, 3036 Limassol, Cyprus
Complaints (for crypto brokers)
No
No
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