First Light Trade has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. First Light Trade said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Responsive team|Easy withdrawals|Portfolio tracking tools|Professional team
Cons: Mobile app could be improved
First Light Trade seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Detailed reporting|Transparent fees|Good analytical tools|Risk management tools
Cons: No integrated tax optimization|Limited social trading features
I joined First Light Trade through my accountant's suggestion and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Tax reports included|Fast execution
Cons: Minor UI glitches occasionally|Search feature is basic
First Light Trade had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Economic calendar|Portfolio tracking tools
Cons: Slow to add new assets|Nothing significant