The antiferromagnetic (AFM) to ferromagnetic (FM) first order phase transition of an epitaxial FeRh thin-film has been studied with x-ray magnetic circular dichroism using photoemission electron microscopy. The FM phase is magnetized in-plane due to shape anisotropy, but the magnetocrystalline anisotropy is negligible and there is no preferred in-plane magnetization direction. When heating through the AFM to FM phase transition the nucleation of the FM phase occurs at many independent nucleation sites with random domain orientation. The domains subsequently align to form the final FM domain structure. We observe no pinning of the FM domain structure.