Introduction
First of all, FirstECN Forex and CFD broker can provide trading on Forex and other currencies. With cryptocurrencies and metals in a convenient offer for users, there are possibilities suitable for professionals, as well as starting traders through a clean and advanced system of their simple and handy interface with smart tools in trading to fit traders.
This review will help you find all the important features and services that FirstECN offers, and if it suits your needs for trading. We will be able to see the account types, customer support, and all the details you would want to know to decide whether you should consider using FirstECN or not.
Is it Legit or Scam?
FirstECN is an internationally known genuine forex and CFD brokerage company with regulatory backing through MISA (MWALI International Services Authority). Thereby giving it a substantial degree of credence on its operations and dealings in and through the services by the company. Supervision through such authorities ensures that the entity conducts and deals operationally and administratively consistently and with principles that safeguard secure trading environments.
Additionally, this platform uses more advanced encryption technologies and implements strict privacy protocols to ensure that users’ information and transactions are safe. These measures will prevent unauthorised access and will help protect traders’ financial and personal data, further proving that FirstECN is a safe and legitimate broker that is not a scam.
Trading Conditions
Minimum Deposit
Amount: FirstECN imposes a minimum deposit to begin trading with, which is $250. This is reasonably decent compared to other brokers and can be afforded even by a beginner. With similar minimum deposit options, you can also check out other brokers like SmartSTP, Capitalix and FXRoad.
Minimum Spread
Spreads on major currency pairs are variable and thus relatively fair.
Leverage
First, the leverage of ECN is up to 1:200, Which means that a trader can increase his position with relatively small capital. It is supposed to increase the potential for higher returns; however, it also increases risk, and thus, very careful management of investments becomes important for traders.
Spreads and Commissions
- Competitive Spreads: Ranging from 0.1 pips for major forex pairs.
- Commissions: Low to no commission fees on trades, depending on the account type.
Account Types Offered by FirstECN
FirstECN offers three main types of accounts tailored to different trading strategies and experience levels:
- Silver Account:
- Leverage up to 1:200
- Minimum lot size: 0.01
- Spread discount: None
- Gold Account:
- Leverage up to 1:200
- Spread discounts at 50% of Silver
- Platinum Account:
- Leverage up to 1:200
- Spread discounts at 75% of Silver
How to open an Account in FirstECN?
You can easily open an account with FirstECN by following the simple steps below.
- Go to FirstECN website and click ‘Open Account’.
Fill in your details.
- Include name, surname, email, and telephone number. Create your password, preferably very strong, and check on view to confirm
Set preferences
- You can signal to get call backs via support service and can be eligible for newsletters as well as promotion mailing lists if you need to do so.
Agree on Terms and Confirm Sign-up
- Tick the box by saying that you are over 18 years of age, agree to the terms and conditions, and then on the privacy policy, which contains a risk disclosure policy, all you need to do is to accept this agreement form. After signing, provide registration information that is provided while you submit it, then make a verification to an email account.
Confirm the account and top it up.
- In completing the identity verification process, you would deposit funds through your preferred method to start trading.
Login in FirstECN
To access FirstECN you go to the website using the email address and the password of your registered account at the login page where you click on the ‘Sign in’ button; alternatively, you can forget the password and use the ‘Forgot password’ to retrieve it.
Trading Platform on FirstECN
FirstECN provides several platforms tailored to different trading needs:
- Web Trading Platform: It also provides the entire spectrum of trading facilities through the desktop.
- Mobile application: It provides for trading on the move, with all features and real-time information.
- Integration: It is integrated with advanced charting technology using TradingView.
