Comparison of Firstrade vs Vantage [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theFirstrade vs Vantage comparison!

Your expert: Alejandro Borja

Firstrade

Your expert: Xavier Tarrasó

Vantage

Main points

Fees

Low 4/5

Regulated

FINRA, SEC

Demo account

Low 4/5

Fees

ASIC, FCA

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

3.5 – Firstrade charges a 1% fee on crypto trades, which is higher than some competitors. Despite this, its low fees on other investment options and user-friendly platform add value .

4.2 – Vantage offers tight spreads and no deposit or withdrawal fees, making it a good choice for both new and experienced traders. However, additional fees might apply depending on the payment method used .

Level

Low 4/5

Brief explanation

Firstrade offers competitive and straightforward commission structures for cryptocurrency trading. The platform charges a flat fee of 1% for buying or selling cryptocurrencies, which is relatively high compared to some other exchanges but remains transparent without additional hidden fees. Trading Commissions Firstrade’s trading fee for cryptocurrencies is set at 1% of the trade value. This fee applies uniformly to all cryptocurrency transactions, ensuring that users are aware of the costs upfront. The simplicity of this fee structure is advantageous for those who prefer clarity and straightforward pricing. Other Fees Firstrade does not charge any deposit fees, making it cost-effective to add funds to your account. However, while withdrawals via ACH are free, wire transfers incur a fee of $25, which is something users should be mindful of when planning their fund withdrawals. Overall, Firstrade’s commission structure is designed to be transparent and easy to understand, with the primary cost being the 1% trading fee on all cryptocurrency transactions. This can be beneficial for traders who value simplicity and predictability in their trading costs.

Vantage operates as a CFD broker, and its fee structure is designed to be transparent and competitive. The primary cost for trading cryptocurrency CFDs on Vantage comes from the spread, which is the difference between the bid and ask prices. This spread can vary depending on market conditions and the specific cryptocurrency being traded. Additionally, if you hold a position overnight, an overnight financing fee is applied. This fee is calculated based on the leverage used and the value of the position held overnight . Vantage does not charge any deposit fees, making it cost-effective to fund your trading account. Withdrawals are also generally free, except for international bank withdrawals beyond the first free one each month, which incur a fee of 20 currency units (e.g., $20, €20) . There are no commission fees for trades on standard accounts, but for ECN accounts, a commission of $3 per lot for Raw ECN and $1.5 per lot for Pro ECN is charged . This commission structure is typical for ECN accounts, which offer tighter spreads but involve a per-trade commission. Overall, Vantage provides a competitive fee structure that is advantageous for traders who are mindful of trading costs. The combination of low spreads, no deposit fees, and the absence of most withdrawal fees makes it an attractive option for both new and experienced traders.

Firstrade

Year Founded: Firstrade was established in 1985, making it one of the most experienced brokerage firms in the industry. With nearly four decades of operation, Firstrade has demonstrated stability and reliability through various market conditions.
Number of Users: Firstrade serves a large number of clients, reflecting its broad acceptance and trust within the investment community. The significant user base is a testament to its reliability and the trust it has earned over the years.
Security Methods: Firstrade employs stringent security measures to protect client accounts and personal information. The platform is regulated by top-tier authorities such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Additionally, Firstrade provides high investor protection through the Securities Investor Protection Corporation (SIPC), covering up to $500,000, including $250,000 for cash.
Regulation: Firstrade is fully regulated by the SEC and FINRA, ensuring compliance with strict industry standards. This regulation provides an added layer of security and transparency, assuring users that their investments are managed according to rigorous guidelines.
Customer Service: Firstrade offers robust customer service options, including phone and email support. Although not available 24/7, their customer service team is dedicated to providing helpful and relevant responses. This commitment to customer care enhances user confidence and satisfaction.

Vantage

Regulatory Oversight: Vantage operates under the regulation of several reputable financial authorities, including the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). This regulatory oversight ensures that Vantage adheres to strict financial and operational standards, providing a secure trading environment for its clients .
Negative Balance Protection: Vantage offers negative balance protection to its clients, ensuring that traders cannot lose more than their deposited amount. This feature adds a layer of security, particularly for those using leverage, by preventing debts that exceed their account balance .
Reputation and Reviews: Over the years, Vantage has built a solid reputation in the trading community. Many users appreciate its transparent fee structure, fast and reliable customer service, and the overall ease of use of its platform. The positive feedback from its users highlights the platform’s reliability and trustworthiness .
Security Methods: Vantage employs advanced security measures to protect client funds and personal information. These include Secure Socket Layer (SSL) encryption, two-factor authentication (2FA), and regular security audits. Such robust security protocols ensure that client data and transactions are safe from unauthorized access and cyber threats .
Volume Managed: Vantage handles significant trading volumes, reflecting its capability to support a large and active user base. High trading volumes often indicate strong liquidity, making it easier for traders to execute large orders without significantly impacting the market price .

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Account Minimum

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Direct link to the website

Product selection

Native token

Firstrade does not have a native token.

Vantage does not have a native token.

Earns

Firstrade does not offer staking or earning options for cryptocurrencies. It focuses on trading a variety of digital assets .

Vantage does not have options for earning with cryptocurrencies through staking. It offers trading of crypto CFDs with leverage .

NFT marketplace

Firstrade does not have an NFT marketplace.

Vantage does not have an NFT marketplace.

Cripto/debit card

Firstrade does not offer a card for its clients .

Vantage does not provide a card for its clients .

Payment methods

Transfers

Yes, Firstrade accepts bank transfers for both deposits and withdrawals .

Yes, Vantage accepts bank transfers for both deposits and withdrawals .

Mastercard

No, Firstrade does not accept Mastercard for deposits.

Yes, Vantage accepts Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

No, Firstrade does not accept credit/debit cards .

Information about Vantage’s acceptance of credit/debit cards is not explicitly stated in the retrieved documents.

Comparative table

Firstrade	Features	Vantage
Firstrade allows low minimum trade amounts, making it accessible for beginners to start investing in cryptocurrencies.	Minimum Trade	Vantage offers a low minimum trade amount, making it accessible for traders of all levels. The platform allows trades from as little as $50, catering to both beginners and those with limited capital.
The platform offers competitive trading fees, although some users might find hidden costs associated with certain transactions.	Trading and Transaction Fees	Vantage has competitive trading fees, but the spread costs can vary depending on market conditions. While the fees are generally low, they can add up, especially for high-frequency traders.
Firstrade supports over 30 cryptocurrencies, providing a good range of options for investors.	Number of Cryptocurrencies	With 34 cryptocurrencies available for trading, Vantage offers a decent selection compared to other CFD brokers. However, the variety is somewhat limited compared to dedicated cryptocurrency exchanges.
While it offers a variety of cryptocurrencies, the number of available trading pairs is somewhat limited compared to other platforms.	Crypto-to-Crypto Trading Pairs	Vantage does not support direct crypto-to-crypto trading pairs. Instead, all trades are conducted as CFDs, which might not suit traders looking for direct cryptocurrency exchanges.
Firstrade’s website is transparent and informative, clearly outlining fees, security measures, and available services.	Website Transparency	Vantage maintains a transparent website with clear information on fees, regulations, and trading conditions. The platform ensures that users have access to necessary information before trading.
Firstrade does not offer a card for its clients .	Credit/Debit Card	Vantage does not provide a card for its clients .
Firstrade lacks a dedicated cryptocurrency wallet, requiring users to use third-party services for storing their digital assets.	Storage Offering	As a CFD broker, Vantage does not offer actual cryptocurrency storage. Traders do not own the underlying assets, so there are no wallet services provided.
The platform currently does not offer staking or reward programs, which can be a downside for users looking to earn passive income.	Staking and Rewards	Vantage does not offer staking or rewards programs for cryptocurrency holdings. This may be a disadvantage for users interested in earning passive income through staking.
Firstrade offers a highly rated mobile app and a robust desktop platform, ensuring a seamless trading experience across devices.	Mobile App and Desktop	Vantage provides a robust mobile app and desktop platform, allowing users to trade on the go. The platforms are user-friendly and feature-rich, enhancing the trading experience.
Firstrade’s customer service is reliable but not available 24/7, which can be an inconvenience for users needing assistance outside business hours.	Customer Service	Vantage offers 24/7 customer support via live chat, phone, and email. However, the live chat service can be slow at times, and the quality of responses may vary.
Firstrade offers a variety of deposit and withdrawal options, although the lack of instant processing for some methods can be a drawback.	Deposit and Withdraw	Vantage offers a variety of deposit and withdrawal methods with quick processing times. However, fees can be high for international bank withdrawals beyond the first free transaction each month.

Key features

Analysis tools

Firstrade offers a variety of tools and resources including research reports, market data and analysis, and educational resources such as webinars and articles .

Vantage provides access to the MetaTrader platforms and the TradingView platform, both known for their advanced charting tools and technical analysis capabilities. They also offer Capitalise.ai for algorithmic trading .

Mobile APP

Yes, Firstrade offers a mobile app available for iOS and Android devices, designed for a seamless trading experience .

Information on a specific mobile app for Vantage is not explicitly stated in the retrieved documents.

Security

Firstrade is regulated by the SEC and FINRA in the United States, offering a high level of security. They follow strict security measures to protect client accounts and personal information.

Vantage is regulated by top-tier authorities such as the FCA and ASIC, providing robust investor protection. They offer negative balance protection for clients under these jurisdictions.

Additional features

Firstrade offers trading on 38 popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Their platform is integrated with Apex Crypto for secure storage and trading. Firstrade provides a highly-rated mobile app for seamless trading on the go and features like real-time data and analytics, 24/7 trading, and instant fund access. They charge a high spot crypto fee of 1% of the trade value but provide a user-friendly experience for beginners .

Vantage provides access to a variety of cryptocurrency CFDs, including Bitcoin and Ethereum, through the MetaTrader platform. They offer competitive spreads and leverage up to 1:200. Vantage is known for its secure trading environment and extensive educational resources. However, they do not support direct cryptocurrency trading, only CFDs .

Anonymity

Firstrade does not support anonymous accounts. The account opening process includes submitting personal details and verification documents .

Vantage requires users to provide personal information and verification documents, thus not offering anonymous accounts .

Key points

Available cryptocurrencies

Firstrade provides access to 38 cryptocurrencies. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Stellar (XLM), Solana (SOL), Shiba Inu (SHIB), and more.

Vantage provides trading in cryptocurrency CFDs, supporting a variety of cryptocurrencies similar to other major brokers .

User-friendliness

Firstrade offers a highly-rated mobile app for crypto trading, designed to provide a seamless and user-friendly experience. The platform supports a wide range of cryptocurrencies and allows for easy buying and selling. While it lacks a dedicated crypto wallet and some advanced features, its simplicity and accessibility make it a good choice for beginners looking to manage their crypto investments alongside other asset classes .

Vantage provides a straightforward and easy-to-use platform for trading cryptocurrencies. The account opening process is simple, and the platform supports various payment methods. Vantage’s trading environment is designed to be user-friendly, making it accessible to both new and experienced traders .

Value for money

Firstrade offers a strong value proposition with low fees and no minimum deposit, making it accessible for beginners. However, its 1% trading fee on crypto is higher compared to some competitors, which could affect active traders.

Vantage offers strong value with competitive spreads and no deposit or withdrawal fees. The platform’s leverage options and professional trading tools add further value, making it suitable for both beginners and experienced traders.

Countries of operation

United States, Germany, United Kingdom, China, Singapore, Hong Kong .

United Kingdom, Australia, European Union, Cayman Islands, Bahamas .

Best for

Firstrade is best for US-based investors who want a straightforward, user-friendly platform to trade a variety of cryptocurrencies. Its mobile app and low fees make it a good option for beginners and those looking to manage their crypto investments alongside traditional assets.

Vantage is perfect for traders who want to engage in leveraged crypto CFD trading in a regulated environment. Its quick account opening process and seamless deposit and withdrawal options make it a good choice for both new and experienced traders.

Account

Trading

Firstrade has limited offerings in cryptocurrency trading, focusing primarily on traditional securities. It may not be the best option for dedicated crypto traders.

Vantage offers a wide range of crypto CFDs with competitive spreads and leverage. The platform is well-regulated and provides a secure trading environment for crypto enthusiasts.

Deposit and withdrawal

Firstrade primarily supports deposits and withdrawals via bank transfers and checks. The process can be slower compared to other brokers, and international clients might face additional hurdles.

Vantage supports multiple deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. The first international bank withdrawal each month is free, but subsequent withdrawals may incur fees.

Account opening process

Opening an account with Firstrade involves completing an online application and submitting personal and financial information. Verification documents are required. The process can take a bit longer compared to other brokers, especially for international clients.

The account opening process at Vantage is quick and fully digital. Users need to fill out an online form with personal and financial details, and submit verification documents. Accounts are generally approved within one business day.

KYC required?

Firstrade mandates KYC verification. Users must provide personal identification documents and proof of address as part of the account opening process.

Yes, KYC is required at Vantage. Users need to submit personal identification documents and proof of address to verify their accounts.

Customer Service

Firstrade provides customer support via phone and email, but does not offer live chat. The support is available during regular business hours, and while it is generally helpful, the lack of live chat can be a drawback for some users.

Vantage provides customer support via live chat, email, and phone. The support team is available 24/5 and is generally responsive, though some users report delays in getting complex issues resolved.

Security

Firstrade is regulated by the SEC and FINRA in the United States, offering a high level of security. They follow strict security measures to protect client accounts and personal information.

Vantage is regulated by top-tier authorities such as the FCA and ASIC, providing robust investor protection. They offer negative balance protection for clients under these jurisdictions.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I find Firstrade to be a reliable choice for anyone looking to start investing in cryptocurrencies. The platform offers a secure and user-friendly experience, with competitive trading fees and a robust mobile app. However, the absence of a dedicated crypto wallet and 24/7 customer support are areas that could use improvement. Overall, Firstrade is a solid option for beginners and seasoned investors alike, thanks to its strong regulatory framework and extensive market experience.

Xavier Tarrasó

As an expert from Threenvest, I find Vantage to be a robust option for traders looking to delve into the world of cryptocurrency CFDs. The platform excels in offering a diverse range of 34 crypto CFDs, including major assets like Bitcoin and Ethereum, which cater to both beginner and experienced traders. Its strong regulatory framework under ASIC and VFSC ensures a secure trading environment, further enhanced by features like negative balance protection. While the customer service has areas that need improvement, particularly in live chat responsiveness, the overall user experience is solid. For those who prioritize regulatory security and ease of trading without the complexities of handling actual cryptocurrencies, Vantage is a commendable choice.

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We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Firstrade vs Vantage [ 2024 ]

Firstrade

Vantage

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Firstrade

Vantage

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Firstrade and Vantage