| Aspect | Information |
|---|---|
| Registered Country/Area | Comoros |
| Founded Year | 1 year |
| Company Name | FirstECN |
| Regulation | MISA |
| Demo Account | Not Specified |
| Minimum Deposit | Starting from $50 |
| Maximum Leverage | Up to 1:200 |
| Spreads | Variable Spreads starting from 0.01 pips |
| Trading Platforms | TradingView |
| Customer Support | Contact Forms, Email, and Calls |
FirstECN Broker is a relatively new trading platform known to offer extensive trading services globally. The platform caters to traders globally. This FirstECN broker review will help discuss the key elements of the platform including regulations, account types, trading instruments, platforms, and customer support.
Lastly, we will be able to tell whether the FirstECN scam or legitimate.
Is FirstECN Legit or Scam?
FirstECN is a well-regulated trading platform that operates transparently and maintains industry standards. The features like encryptions, protected transactions, and safe payments enhance security. The overall transparency of the platform makes it a legitimate platform.
Market Instruments
FirstECN trading platform provides multiple assets to invest. This helps traders create a diverse portfolio making it easier to trade and meet different needs. The major assets are:
Forex
The platform allows investments in multiple FX currency pairs.
Commodities
Investors can trade in agricultural and natural resources like gold, silver, crude oil, and natural gas. This allows you to invest without holding the assets physically.
Indices
Indices offer market exposure to the trader. It helps in identifying the market movement.
Stocks
Traders can understand the stock movements by trading in major shares from global industries.
Cryptocurrencies
FirstECN offers access to global digital currencies. Traders can invest in crypto without owning the digital coins.
Regulations
The FirstECN forex trading platform is known for its regulations and security features. It ensures a smooth trading process under legal standards to boost trader’s confidence.
MISA (MWALI International Services Authority) regulated the platform under License BFX2024050.
Also, it is registered under Comoros Union with registration number HT00324014, in Comoros, KM.
Lastly, the features like KYC and AML protect user funds and data.
Pros:
- Competitive spreads
- Low Minimum Deposit
- User-friendly Interface
- Dedicated customer support
- Various account types
Cons:
- Charges Withdrawal fees
- Limited customer support on weekends
Trading Conditions
Minimum Deposits
FirstECN provides seamless trading conditions, with low minimum deposits. This helps cater to beginners and low-budget traders.
Minimum Spreads
The platform provides competitive spreads, starting from 0.1 pips on basic accounts.
Leverage
The platform provides leverage up to 1:200. This allows traders to increase their positions based on risk tolerance and experience.
Spreads and Commissions
Spreads at FirstECN forex broker depend on the account type and trading asset. The platform charges low commissions on its silver accounts. Although, commission-based accounts are available for lower-spread trading. This allows traders to choose based on their cost preferences and trading styles.
Account Types
FirstECN forex trading platform provides multiple account types for traders. The variety allows traders to choose an account that suits their trading preferences, budget, and support needs.
Silver Accounts
The platform offers a silver trading account for low-budget investors and less experience. The account charges swap fees and commissions during trading.
Gold Account
Gold account is designed for traders with more experience. Traders can invest in multiple trading assets with leverage up to 1:200.
Platinum Account
The account offers swap discounts and low-commission trading. Traders can invest without worrying about additional charges.
Demo Account
FirstECN demo accounts are not a provision on the platform. Thai reduces the chances for beginners to practice trading styles without risking real funds.
How to Open an FirstECN Account?
FirstECN login and Opening an account is a straightforward process.
Step 1: Visit the official FirstECN website. Find the open an account option and click on it.
Step 2: Add your personal information in the pop-up form, and select the preferred account type.
Step 3: Complete the verification process through mail or sms for trading.
Step 4: Add funds to your account after the verification
Step 5: You can start investing in your preferred trading asset.
Trading Platform
FirstECN broker is accessible on any internet-connected device and mobile application. The broker has a mobile application that enhances the trading process.
Traders also get access to TradingView charting technology. the tool allows traders to analyze the market using technical indicators and charts.
Withdrawal and Deposits
FirstECN trading platform offers multiple payment methods, like cards, bank transfers, and e-wallets. It charges low fees, to keep affordable trading processes.
Deposits at the FirstECN can be done instantly however, the withdrawals can take up to 1-3 business days.
Customer Support
Customer support at FirstECN compiles knowledgeable and responsive members. This reflects its commitment to excellent service.
Emails
The platform offers email support via [email protected]. You can write emails to address technical and trading issues.
Calls
The platform provides support through phone calls. Traders from different regions can contact FirstECN at +815050506222.
Contact Forms
The platform provides feedback forms at the platform. These forms are easy to fill and raise tickets.
Conclusion
FirstECN is a trustworthy trading platform. It provides competitive spreads, varied account options, and strong customer support. The platform offers traders the tools and resources to operate the markets effectively. It is regulated by financial authorities and provides transparency.
Overall, FirstECN is a legitimate trading platform for a strong and secure trading environment.
