Forex Brokers for Beginners

When it comes to trade Forex or exchange foreign currency you would need to use Online Broker or Forex broker that would give you access to place trades in the marketplace via its trading platform.

How to choose Forex Broker for Beginners?

The primary point and the crucial point for Beginning Traders is to choose a right and reputable company or Forex Broker that is regulated and holding reputable licenses. The appropriate company or broker should be strictly regulated by the reputable authority and jurisdiction, otherwise allured possibilities from unscrupulous brokers may turn to a scam. Read the article Why Trade with FCA Brokers.

  • Various jurisdictions apply its own regulatory standards they are all concerned about safety and transparency of operation with a purpose to protect and educate clients. Learn more about various regulations and Forex trading itself via Regulation tags, or read more through official regulatory websites alike ASIC provides through its education sources about Forex Trading.

Education

Secondly, you need to select among the Brokers that are suitable for beginners as they would provide Educational materials and some brokers even provide a Personal Account Manager. The first steps in trading are the most important in overall trading experience so it’s best to take a comprehensive educational course before live currency placed into the trading.

  • Forex and CFDs are complex instruments that require good education and understanding of the high risks involved

A good education is key for new traders, and brokers friendly to beginners’ maintained suitable conditions and environment along with the support and learning tools or resources typically provided as Free Forex Education.

The robust educational content full of market insights and reviews, also includes Seminars or Webinars, materials, strategies overview and video tutorials along with a customer-friendly interface of the platform will surely be the best choice as you need support at your start. We recommend you to learn more about Forex Trading via NFA booklet.

  • Clear vision and detailed knowledge about instruments and markets further might lead you to better decisions, thus to potentially successful trading experience.

Last, but not least at the beginning traders advised testing trading skills through a variety of Demo accounts where you can trade with no risk a virtual environment.  It is also good to attend competitions or to interact with other more experienced traders that are widely available through a diversity of social trading platforms, copy trading or other tools.

  • Overall, there are endless possibilities in trading performance but the right choice of the broker and comprehensive education is the key, which requires patience, practice and smart planning.

FCA education

Best Forex Brokers for Beginners

Below you will find a listing of the Best Reviewed Brokers based suitable and good for Newbies in trading or Beginners. We made a list with specified criteria also considering the abovementioned points, where all listed below feature Professional education, research tools and customer-friendly environment.

  • FP Markets– Best Overall Broker for Beginners 2020
  • GO Markets– Best MT4 Broker for Beginners 2020
  • Pepperstone– Lowest Spread Broker for Beginners 2020
  • AvaTrade– Best Broker for Beginners in Australia 2020
  • eToro– Best for Social Trading 2020

Forex Brokers for Beginners List

These are the brokers that are recommended and suitable for Beginning Traders:

Broker Detail
ForexTime FXTM review FXTM
Min. Deposit: US$200
Max. Leverage: 1:30 | 1:200
Trading Platforms: MT4, MT5, FTXM Trader
Regulation: CySEC,FCA, FSCA
1
FXTM Review
GO Markets
Min. Deposit: 200 US$
Max. Leverage: 1:30
Trading Platforms: MT4, MT5, WebTrader
Regulation: ASIC, CySEC
2
GO Markets Review
FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: IRESS, MT4, MT5
Regulation: ASIC, CySEC
3
FP Markets Review
Pepperstone review Pepperstone
Min. Deposit: 200 US$
Max. Leverage: 1:30
Trading Platforms: MT4, MT5, cTrader
Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN
4
Pepperstone Review
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader and Mobile App
Regulation: ESMA, CySEC, FSC, NFA, FSA
5
BDSwiss Review
Axiory logo Axiory
Min. Deposit: 50 US$
Max. Leverage: 1:777
Trading Platforms: MT4, cTrader
Regulation: IFSC
Axiory Review
HotForex Review HotForex
Min. Deposit: 5 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: CySEC, FCA, DFSA, FSCA
HotForex Review
Eightcap
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: MT4, MT5
Regulation: ASIC
Eightcap Review
BlackBull Markets logo BlackBull Markets
Min. Deposit: 200 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: FMA, FSA
BlackBull Markets Review
FXCC Review FXCC
Min. Deposit: No minimum deposit
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC, VFSC
FXCC Review