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.
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 | Min. Deposit: US$5 Max. Leverage: 1:30 to 1:888 Trading Platforms: MT4, MT5, XM WebTrader Regulation: CySEC, ASIC, IFSC | XM Review |
 FBS | Min. Deposit: 1 USD for Global, 10 EUR for EU Max. Leverage: 1:30 Trading Platforms: MT4, MT5, FBS trader Regulation: CySEC, IFSC | FBS Review |
 Trade360 | Min. Deposit: 100 US$ Max. Leverage: 1;30 | 1:500 Trading Platforms: MT4 and CrowdTrader Regulation: CySEC, ASIC, MFSC | Trade360 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 | Min. Deposit: 1 US$ Max. Leverage: 1:30 | 1:1000 Trading Platforms: MT4, MT5 Regulation: CySEC, FCA, SFSA | Exness 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 | Min. Deposit: 100 US$ Max. Leverage: 1:30 Trading Platforms: WebTrader, MT4 Regulation: CySEC | ETFinance Review |
 Orbex | Min. Deposit: 200 US$ Max. Leverage: 1:30 | 1:500 Trading Platforms: MT4 Regulation: CySEC, MFSC | Orbex Review |
 City Index | Min. Deposit: 100 GBP Max. Leverage: 1:30 Trading Platforms: Advantage Web, AT Pro, MT4 Regulation: FCA | City Index Review |