The FirstECN trademark is owned by Nakito SA, which is registered in the Union of the Comoros and regulated by MISA. As for the domain, it was registered in July 2024. However, the company does not have licenses in other jurisdictions. Although, brokers are usually required to have a license from the country where they offer their services. Can you trust funds to a CFD-focused intermediary that calls itself ECN? Don’t be in a hurry to do so. Read our review of this dealer first.

Trading Conditions

Information on trading conditions is limited on firstecn.com. The broker allows you to trade exclusively CFDs on currencies, indices, crypto, and other assets. The company provides access to the WebTrader platform and offers the following options:

Three types of tariffs.
Minimum lot 0.01 pip.
Leverage 1:200.
Stop-out level 5%.
Minimum deposit $250.

FirstECN does not disclose spreads and commissions. Please note that the broker mentions Demo account, which is not available to unregistered users.

Discounts specified in the trading conditions do not make any sense. Since the company does not disclose the size of the initial data.

Additional services include a ticker with cryptocurrency quotes and news about the platform. The website has translation into 4 languages.

FAQ

Would investing in FirstECN offer the best returns?

Rather, trading will turn out to be a loss of money for you rather than earning income on an unknown platform where important terms of risky CFDs are hidden from potential clients. In addition, leverage of 1:200 violates the requirements and regulations set by serious regulators - no more than 1:30.

Does FirstECN carry out withdrawals?

Judging by ‌reviews on the Internet, the company often refuses to withdraw funds to traders. It should be noted that the broker is not responsible for any damage of clients - it is fixed in its Terms and Conditions. We ask you to share your opinions about this project.

May I be scammed on firstecn.com?

The company does not give the impression of being a serious and trusted forex intermediary. Despite having an offshore license, there is no regulation of its activities in other countries. This means that this organization is breaking the law by offering its services outside of Comoros.

What's the best way to share my experience with FirstECN?

Fill out the form and we'll make sure your voice is heard.

How can I tell if this is a fraudulent company?

Do your own research and never believe those who promise you easy money.

Criteria

Jurisdiction: Offshore

License: No license

Leverage: 1:200

Broker type: DD

Demo account: Yes

Affiliate program: Not indicated

Minimum deposit: 250$

Trading platform: WebTrader

Assets: Forex, CFD

17 reviews about FirstECN

Peggy Cook
March 30
I am very disappointed
I have been working with this broker for three months now and only now I realized my mistake. As soon as I had a good profit, the broker started to find any reason to “fine” me… Suspicious commissions appeared and incomprehensible fees that nobody said anything about in the beginning. I get the impression that this company just doesn't want to give clients the money they earn.
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Gayle
March 28
It sucks
The terminal constantly hangs, the account is zeroed. I bought it like a fool!!! I pissed away €1,380. I'm cursing myself now! I wanted to make money!!! Don't trade here if you don't want problems!
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Loretta Collier
March 23
Most likely to be scammers
Unfortunately, I have had a negative experience with this firm. Of course, I made some money, only £147, but it's still a shame that I just lost it in 1 second on a fake terminal along with my £430 deposit. I think they are just scammers and all their terms and programs are pure fiction! The only good thing is that I realized it right away and did not invest more money.
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Judith Stokes
March 18
I was lucky!
I chose this company by chance when I was just starting to trade forex and didn't understand anything at all. I think I was lucky because I didn't run into a scammer and I got into a good company, even though all the odds were against me. At first I took a demo account from them, played on it, got to know how it worked. Then I opened a real account and made my first deposit. Soon I decided to withdraw some money to see if they would scam me. They withdrew the money within 24 hours. After that I started trading in peace, and since then I withdrew two more times relatively small amounts of $400 each. I should note that there were no obstacles, it took longer than usual, only at the very first withdrawal, because scans of documents were required, but then they were not required anymore.
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Mr. Allen
March 15
I will never trade here again!!!
I used the 1:200 leverage offered when trading oil, which allowed me to manage a large position. However, suddenly the broker changed the leverage to 1:10 which resulted in an instant stop out and a loss of $7,140. I did not receive any warning or explanation from the FIRSTECN broker. Changing the terms and conditions retroactively is nothing short of scamming your customers! They have lost me FOREVER!
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Bradford
March 14
Anonymous Scammers
A very clever scheme these swindlers have: they don't write anything specific on their website so that there is no written confirmation of their promises and trading rules! They also hide their names and addresses. The scammers simply call their victims, tell them memorized phrases, and then get their money. They let you withdraw a small amount once to then get two or three times as much, and in the end they just block your account! And then you can complain anywhere you want, but no one will help you because the swindlers don't leave any information about themselves!
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Roger Ashley
March 13
I would not recommend you to work here
High-speed trading with FIRSTECN is out of the question. Transactions are opened and closed very slowly and I have many complaints about this company. The same can be said about the withdrawal of money. In general, everything works very slowly here.
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FifthJoann
March 12
I realized late that this is a scam
This fraud was launched in 2024 and has nothing to do with a reliable and promising brokerage company. It's only a pity that I found out about it after I gave almost €2,870 to these scammers.
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Timothy Griffin
March 9
I have a very good impression about this project
Before starting regular trading, I practiced on a demo account, studied the scheme of work and charts. Spreads are average on firstecn.com. The support service is customer-oriented. So, I opened a real account here more than six months ago and now I earn at least 20-30 pounds every day.
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Mr. Little
March 7
I started trading with FirstECN on the recommendation of reliable traders
The situation in the forex market is not the easiest today, and it is difficult to find a reliable partner for trading, once I was unlucky, and I encountered a company that closed after several months of work, taking with it all the money of traders, it was very frustrating, despite the small amount of my losses, but it was hard for me morally, as I realized that this experience could happen again. So I decided to choose a new broker responsibly and with a different approach - I decided to rely on the personal experience of people I know and trust, I asked several traders I know personally where they trade, made a list of recommended brokers, where FirstECN was included, and then looked at who from the list would suit me best. It did, and it turned out to be firstecn.com. I think this approach is the only right one, because personal experience of cooperation is very important and you can rely on it when choosing a company with which you will have a long financial relationship.
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Stuart
March 6
Withdrawals are not provided here
I had my suspicions about Firstecn, but I decided to try trading here anyway. What did I expect??? I invested a symbolic amount of 320 euros, but I couldn't even get it back :( If you try to withdraw funds from this broker, you will encounter difficulties - you can't get the funds either on the card or through the terminal! They instantly disappear from your account! I do not recommend anyone to cooperate with Firstecn!!!!
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Rose L.
March 1
Unfortunately, my experience turned out to be negative
As a result of a transaction opened on the recommendation of a financial analyst at this firm, I spent all my money, over $1,600...
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T. Gonzalez
February 26
The number of traders defrauded by these crooks is unknown...
Has anyone calculated how many thousands of Firstecncustomers have been defrauded during its existence? This is despite the fact that many did not voice their opinions online, but just silently took the offense of losing money. There are two people in my circle who have been contacted by these scammers. Their loss amounts range from 300 to 783 euros. Although these amounts are not too huge, it was not pleasant. When you have just been scammed like the last idiot...
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B. Robertson
February 24
It was a good start...
I was looking for a long time where to invest my money and chose the horrible scam... At first, Nakito SA seemed reliable when the operators provided me with all the necessary documents and scanned copies of licenses after I registered my account. I had no claims to the broker. But then 20-30 dollars started disappearing from my account!! Tech support operators could not explain the reason, only apologized and promised to return the money. After that the trades started to bring profit and I forgot about the incident. However, my manager convinced me to insure my account and I invested another $1.5k. I worked a little longer, then the managers started to persuade me to double my deposit, and after my refusal they blocked my profile as well... Bottom line: I was cheated for almost 2 thousand dollars.
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Mr. Alexander
February 14
No licenses from decent regulatory bodies
I have heard whining from deceived traders, who, not understanding anything, or not understanding the company documents, but driven by some sweet terms and magic communication of brokers, got into unproven firms, lost money there, and then whined and complained about it on the Internet. I will tell you how you should understand whether it is worth dealing with a broker or not, using this particular scam as an example. Are you from a European country? If yes, the company you are going to open a trading account with must have a license from the European regulator. Go to the website of the financial commission of your jurisdiction, look at the register of brokers, as these sites are publicly available and conveniently searchable. Let's say you are located in the UK. Does Nakito SA have a license from the FCA? - No. Then you close the broker's website and do not open an account there. Very simple instruction, do this exercise more often and then your finances will be safe, at least they will not go to scammers, and how you will dispose of them on the market is another matter.
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Erin1999
February 13
Reliable broker
I started with the minimum rate with an entry threshold of $250. The goal was simple - to test the platform, understand how everything works and how good the service is. I tested the FIRSTECN terminal first on a demo account and I was satisfied: everything works fine, the interface is clear, everything is fine. The only thing that surprised me was that there are practically no additional services on this site. However, this is not a critical flaw, just an observation. I am currently using the “Silver” tariff, and its main advantage for me is the ability to trade cryptocurrencies with low commissions, even lower than on many popular exchanges. This is especially important for me, because the cryptocurrency market is more interesting for me than forex. Besides, spreads are small on FIRSTECN, and commissions are quite adequate too. In general, I have found a broker that I can trust and with whom I can consistently work with profit.
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James G.
February 12
I question the reliability of the platform
My fellow traders claimed that the company is reliable and honest, and they never had any problems with withdrawals. Based on their experience, I decided that I would invest here, especially since it is possible to deposit only 250 dollars into the account, which is supposedly enough for a successful start. However, it is worth noting that some users have expressed concerns about the limited withdrawal options and the use of bank cards only. I also have some concerns about the lack of European licenses on firstecn.com. What are your thoughts on this issue? Is it worth the risk?
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