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
xm.com_review XM
Min. Deposit: US$5
Max. Leverage: 1:30 to 1:888
Trading Platforms: MT4, MT5, XM WebTrader
Regulation: CySEC, ASIC, IFSC
XM Review
FBS-logo FBS
Min. Deposit: 1 USD for Global, 10 EUR for EU
Max. Leverage: 1:30
Trading Platforms: MT4, MT5, FBS trader
Regulation: CySEC, IFSC
FBS Review
Trade360 logo Trade360
Min. Deposit: 100 US$
Max. Leverage: 1;30 | 1:500
Trading Platforms: MT4 and CrowdTrader
Regulation: CySEC, ASIC, MFSC
Trade360 Review
FXCM review FXCM
Min. Deposit: 50 US$ | 300 GBP
Max. Leverage: 1:200 | 1:30
Trading Platforms: MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader
Regulation: ASIC, FCA, FSCA
FXCM Review
Exness Review Exness
Min. Deposit: 1 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: CySEC, FCA, SFSA
Exness Review
IC Markets Review IC Markets
Min. Deposit: 200 US$
Max. Leverage: 1:500
Trading Platforms: cTrader, MT4, MT5
Regulation: ASIC, CySEC
IC Markets Review
OctaFX
Min. Deposit: 100 EUR
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT5, cTrader
Regulation: CySEC
OctaFX Review
etfinance logo ETFinance
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: WebTrader, MT4
Regulation: CySEC
ETFinance Review
Orbex Review Orbex
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC, MFSC
Orbex Review
City Index Broker review City Index
Min. Deposit: 100 GBP
Max. Leverage: 1:30
Trading Platforms: Advantage Web, AT Pro, MT4
Regulation: FCA
City Index Review