Best Forex Brokers For Beginners Guide
Updated January 20, 2022
Best Forex Brokers for Beginners
The best Forex brokers that are perfect for newbies should provide at least three main benefits. The essential thing being that they are a trusted and licensed brand, providing an amiable, web-based platform. Another benefit that they should offer is a large variety of educational materials. Lastly, they should offer access to quality market research.
Meaning of Forex Trading
'Foreign Exchange Trading' is the act of exchanging one currency for another. This means, selling or buying of currency pairs, depending on the winning exchange rates from the foreign exchange market. The Forex market is the largest world market, with about $6.59 trillion in currency traded every day.
Meaning of Forex Broker
When talking about foreign currency trading, you can make use of a currency trading broker, popularly known as a 'Forex Broker' to carry out your trades. When you trade in the Forex market, you sell or buy in currency pairs. You register an account and deposit capital, after which, you make use of the broker's trading platform to sell and buy currency margins.
What Is Forex Trading?
Forex trading involves the purchase or sale of one currency with the goal of making a profit on the exchange of that currency for a different currency. Forex can be thought of as the international exchange of currencies in relation to interest rates. One currency stands for one nation and one stands for another. A trader interested in purchasing certain currency would then purchase it while another trader would sell it. Because of the large number of traders and the need to keep up with what is going on in the markets, there are many different forex brokers that an investor can use to facilitate their trades.
The forex broker performs functions other than just facilitating trades between buyers and sellers. In addition to helping a trader find buyers and sellers for any pair of currencies, the broker also assists in the determination of the interest rates for any given pair. Interest rates are used to determine which currency should be purchased at a given interest rate. The rate is calculated by taking a look at the economic performance of the particular country whose currency is being selected as the main currency in the trade. Economic performance is crucial because a higher economic performance means higher interest rates as well.
Forex traders can use technical analysis to help them determine which trades to enter and which ones should be avoided. Technical analysis uses historical data and current trends to analyze the strengths and weaknesses of a particular currency. This information can often be found in charts, graphs, and tables that can be accessed through a website. Once a trader has determined the strengths and weaknesses of a particular currency, they can then place trades with high liquidity using a spread betting service.
What Is A Forex Broker?
A Forex broker is a person who works in a market where trades are usually bought and sold between two independent parties. In this market a Forex broker earns money by charging fees for its services. In other words, the broker's income comes from the fees that it charges to its clients. Forex brokers are licensed by governments all over the world, so you can be sure of the fact that they are trustworthy. They need to follow certain rules and regulations, and they also have to stick within certain margins.
Forex brokers must use certain tools and systems to ensure that their clients are able to make good trades. Some of the tools that they use include Forex leverage and spread betting. Forex leverage is when a certain amount of money is placed on the trading floor and this money is used to trade on an equal basis with other traders. On the other hand, spreads are what happens when one currency is traded and another one is bought or sold. These spreads involve commission and this will vary depending on the broker.
A Forex broker is an independent financial institution that allows you to purchase and sell foreign currencies. It is like a middleman between you and the largest interbank. This is a vast global market which allows you to trade numerous foreign currencies. Forex brokers have gained in popularity over the years as they allow traders to get better rates and liquidity. Traders can place their trades anywhere in the world through the internet or through their brokers. All transactions are executed securely and confidentially.
Forex brokers provide you with a platform from which to enter the global markets. However, you need to make sure you have the right Forex brokers for the job as well as the right tools to help you with your trades. If you take the time to research the best brokers, you could lose a lot of money, if you do not have the tools to help you with your trades, then you could end up losing a lot of money. For example, you must have access to the latest news which could influence your currency pair choices. You should also have up to date information on which currency pairs are expected to go up and which are expected to go down.
Understanding The Forex Broker
Forex trading has never been easy, there is a lot of work required. Forex market is the largest financial market in the world today. Trading Forex involves buying one currency and selling another. It is the largest financial marketplace with daily turnover exceeding USD 3.2 trillion. While understanding how it really works is important, to earn a profit takes allotment of learning and practice of technical analysis techniques. You can begin with a small investments as a beginning Forex trader and slowly learn more about this market as you gain experience.
Forex brokers are financial institutions or individuals who facilitate trading for their customers. Their role is to provide Forex trading information and guidance. A lot of Forex brokers offer Forex trading services through online facilities. There are hundreds of Forex brokers available in the market who provide Forex market information, tips and advice to traders, investors, institutional traders, etc. It is the responsibility of the trader to choose the best foreign exchange broker.
Tips Available for Beginner Traders in Choosing the Best Forex Brokers
On trading networks, the more options of trading platforms to choose from that the broker offers, the better it is for you as a trader. If you are a trader who does not like to sit behind a desk, or prefers to move around, then you should choose a good broker in mobile trading.
To confirm a broker's regulated status, you must check the site to see if a regulatory body provides the license for that broker to work in a certain region.
Forex Broker Licensing
At times, a Forex broker can be licensed in many regions. The more regions the broker is licensed in, the more dedicated the broker is in gaining possible customers' trust.
Forex Demo Accounts
Many brokers provide a demo account that operates for an unlimited time, while some only provide a limited demo account. An unlimited demo account is the best option, since you will be able to use it for backtesting your trading schemes.
Training Resources
You should check the value of their training resources. This is necessary for new traders because you need to learn as much as possible before taking the risk of starting to trade with real money in the market.
Forex Fees
Check to see if the Forex broker provides a reduction in commissions for trading costs. Meaning, the more the trader trades, the more reduction in commission he/she gets.
Tools and Trading Features
In the bid to distinguish their services from other Forex brokers, they should provide value-added services, like free-market signals, which can be used as an educational, or trading, aid.
Esay Forex Withdrawals
In the case of withdrawals, you should search to see if the broker has certain requirements or restrictions. Some brokers charge a fee on every withdrawal made. While some need a minimum amount to be withdrawn for the withdrawal request to be processed.
Customer Support
To estimate how a trading platform operates, constantly practice with the demo account offered by the broker.
Check to see if the customer support services can be accessed via the Internet, telephone, or social media.
How to Pick the Best Forex Brokers for Beginners
The Forex market is the planet's biggest market, with a turnover of more than six trillion dollars every day. Nonetheless, though it is known as the biggest market globally, it does not have a central exchange. Additionally, Forex traders need to depend on Forex Brokers to aid them in carrying out a trade. Below are some of the criteria in choosing the best Forex brokers for beginners.
The Forex Software or Platform
One of the criteria for estimating a Forex broker for beginners is their trading software, or platform. The trading platform must possess a broad range of trading tools that can aid in analyzing the Forex market. Several trading tools beneficial for beginners are: an economic calendar that provides information about future economic events, clear charts, and a streaming news source. Consequently, it would be best to make sure that the trade exits and entries can be done easily. This implies that a trading platform's interface should be well structured for all operations, strategically placed, and neatly marked.
A trading platform interface that is not well designed can hinder trading, resulting in serious mistakes. Ensure the trading platform offered by the broker is dependable, like the 'Sirix WebTrader', or the 'MT4'.
Withdrawals And Deposits
One other criterion to consider when appraising the various kinds of trading accounts is the withdrawal and depositing methods offered by the broker. All Forex brokers in the industry possess their own policies on how they manage withdrawals and deposits. A few Forex brokers may support their customers using various payments to fund their accounts, while allowing direct bank deposits as well.
Customer Support Services
The foreign exchange industry is a twenty-four-hour-a-day market where trading activities are continuously occurring. It is likely for Forex traders to be constantly trading on the market. This implies that you could encounter an issue that needs the customer support group's help at any time. Therefore, the customer support team must always be available 24/7 during the whole trading week. There is nothing more disappointing than not being able to get in touch with someone when you need their help.
Check the methods available to get in touch with customer support services like email, live chat, and localized phone numbers. Consequently, you should also evaluate the response time of the representatives in the support team. Traders often tend to overlook whether a broker offer a toll-free, or localized, telephone support number when examining their support services.
We've collected thousands of datapoints and written a guide to help you find the best Best Forex Brokers For Beginners for you. We hope that this information assists you in locating a reliable and reputable broker who meets your online trading requirements. We have compiled a list of what we consider the best Beginner Forex Brokers below.
Reputable Forex Brokers For Beginners Checklist
There are a number of important factors to consider when picking an online Beginner Forex Brokers trading brokerage.
- Check your Beginner Forex Brokers broker has a history of at least 2 years.
- Check your Beginner Forex Brokers broker has a reasonable sized customer support of at least 15.
- Does the Beginner Forex Brokers broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- Check your Beginner Forex Brokers broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- Does your Beginner Forex Brokers broker have an international presence in multiple countries. This includes local seminar presentations and training.
- Make sure your Beginner Forex Brokers can hire people from various locations in the world who can better communicate in your local language.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering Beginner Forex Brokers.
We compare these features to make it easier for you to make a more informed choice.
- Minimum deposit to open an account.
- Available funding methods for the below Beginner Forex Brokers.
- What you are able to trade with each brokerage.
- Trading Platforms offered by these brokers.
- Spread type (if applicable) for each brokerage.
- Customer support levels offered.
- We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.
Top 15 Beginner Forex Brokers of 2022 compared
Here are the top Beginner Forex Brokers.
Compare Beginner Forex Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Beginner Forex Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Beginner Forex Brokers that accept Beginner Forex Brokers clients
| Broker |
eToro
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IC Markets
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AvaTrade
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XTB
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Roboforex
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FP Markets
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Pepperstone
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Plus500
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XM
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EasyMarkets
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Trading212
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| Rating | |||||||||||
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039), Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) |
| Min Deposit | 10 | 200 | 100 | No minimum deposit | 1 | 100 | 200 | 100 | 5 | 100 | 1 |
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| Used By | 20,000,000+ | 180,000+ | 300,000+ | 250,000+ | 10,000+ | 10,000+ | 89,000+ | 15,500+ | 3,500,000+ | 142,500+ | 15,000,000+ |
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| Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
| Support |
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| Learn More |
Sign
Up with etoro |
Sign
Up with icmarkets |
Sign
Up with avatrade |
Sign
Up with xtb |
Sign
Up with roboforex |
Sign
Up with fpmarkets |
Sign
Up with pepperstone |
Sign
Up with plus500 |
Sign
Up with xm |
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Up with easymarkets |
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Up with trading212 |
| Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 71% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk | Your capital is at risk | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
| Demo |
eToro Demo |
IC Markets Demo |
AvaTrade Demo |
XTB Demo |
Roboforex Demo |
FP Markets Demo |
Pepperstone Demo |
Plus500 Demo |
XM Demo |
easyMarkets Demo |
Trading 212 Demo |
| Excluded Countries | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | BE, BR, KP, NZ, TR, US, CA, SG | US, IN, PK, BD, NG , ID, BE, AU | US, JP | US, JP, NZ | BR, KR, IR, IQ, SY, JP, US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | US, CA, IL, KR, IR, MM, CU, SD, SY | US | US, CA |
eToro Risk Disclosure
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
All Beginner Forex Brokers in more detail
You can compare Beginner Forex Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Beginner Forex Brokers for 2022 article further below. You can see it now by clicking here
We have listed top Beginner Forex Brokers below.
Best Forex Brokers For Beginners Table of Contents
- Best Forex Brokers For Beginners Explained
- 6 Factors to Consider when Choosing Best Forex Brokers For Beginners
- Are Your Best Forex Brokers For Beginners Trusted And Established?
- Are The Best Forex Brokers For Beginners World Leading?
- What are the Best Forex Brokers For Beginners Commissions and Fees?
- What are the Best Forex Brokers For Beginners Funding and Withdrawl Methods?
- Find Best Forex Brokers For Beginners with Round-the-clock support?
- Make sure the Best Forex Brokers For Beginners Offer Comprehensive Trader resources?
- Why Best Forex Brokers For Beginners needs to be regulated?
- Best Forex Brokers For Beginners FAQ
- What are the best Beginner Forex Brokers brokers?
- What is the best Beginner Forex B broker?
- Related Best Forex Brokers For Beginners Reviews
- Related Best Forex Brokers For Beginners Alternatives
- Related Best Forex Brokers For Beginners Comparisons
Best Forex Brokers For Beginners Explained
Trading the financial markets with Best Forex Brokers For Beginners when conditions are volatile can be difficult, even for experienced traders.
Apart from the educational and other resources made available online, another important factor for traders to consider when looking for Best Forex Brokers For Beginners is the platform that a Best Forex Brokers For Beginners offer.
Choose Best Forex Brokers For Beginners that's at the forefront of innovation and generally considered an industry-leader.
To gain access to the financial markets, you'll need Best Forex Brokers For Beginners that you can rely on.
6 Factors to Consider when Choosing Best Forex Brokers For Beginners
Follow these five rules for selecting a broker that's right for you:
Are Your Best Forex Brokers For Beginners Trusted And Established?
Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The top rated Best Forex For Beginners broker is eToro. Established in 2007, and in operation for 14 years eToro have a head office in Cyprus, UK.
eToro is regulated. This means eToro are supervised by and is checked for conduct by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) regulatory bodies.
Another top rated broker is IC Markets.
IC Markets was established 2007, and in operation for 12 years IC Markets have a head office in Australia.
IC Markets is regulated. This means IC Markets are supervised by and is checked for conduct by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) regulatory bodies.
| Broker |
eToro
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IC Markets
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AvaTrade
|
XTB
|
Roboforex
|
FP Markets
|
| Year Established | 2007 | 2007 | 2006 | 2002 | 2009 | 2005 |
| Head Office | Cyprus, UK | Australia | Ireland | Poland | Cyprus | Australia |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) |
| Used By | 20,000,000+ | 180,000+ | 300,000+ | 250,000+ | 10,000+ | 10,000+ |
| Negative balance protection | Yes | Yes | No | Yes | No | Yes |
| Guaranteed Stop Loss | No | No | No | No | No | No |
| Learn More | Visit eToro | Visit IC Markets | Visit AvaTrade | Visit XTB | Visit Roboforex | Visit FP Markets |
| Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 71% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits |
Are The Best Forex Brokers For Beginners World Leading?
Choose a broker that's at the forefront of innovation and generally considered an industry-leader. eToro Segregates clients funds and offers over 2000 instruments. eToro offers both an online trading platform as well as a mobile platform giving clients easy access to markets.
In addition, the eToro platform enables access to a variety of financial markets worldwide. eToro is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for Best Forex Brokers For Beginners is IC Markets . IC Markets Segregates clients funds and offers over 232 instruments.
| Broker |
eToro
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IC Markets
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AvaTrade
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XTB
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Roboforex
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FP Markets
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| Instruments Available | 2000 | 232 | 1250 | 4000 | 100 | 100 |
| Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps |
| Excluded Countries | ZA, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | US | BE, BR, KP, NZ, TR, US, CA, SG | US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR | US, JP | US, JP, NZ |
| Forex pairs offered | 50 | 65 | 55 | 57 | 35 | 60 |
| Forex pairs offered | 50 | 65 | 55 | 57 | 35 | 60 |
| Major forex pairs | Yes | Yes | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes | Yes | Yes | Yes |
| Cryptocurrencies (availability subject to regulation) | Yes | Yes | Yes | Yes | No | Yes |
| Commodities Offered | 31 | 19 | 17 | 21 | 21 | 18 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes | Yes | No | Yes |
| Agricultural | Yes | Yes | Yes | Yes | No | Yes |
| Stocks Offered | 2042 | 110 | 1000 | 1696 | 0 | 10000 |
| UK Shares | Yes | Yes | Yes | Yes | Yes | Yes |
| US Shares | Yes | Yes | Yes | Yes | Yes | Yes |
| German Shares | Yes | Yes | Yes | Yes | Yes | Yes |
| Japanese Shares | Yes | Yes | Yes | Yes | Yes | Yes |
What are the Best Forex Brokers For Beginners Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated Best Forex For Beginners broker eToro offers competitive offers for Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). eToro minimum deposit is 10.
Another top rated Best Forex For Beginners broker IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. IC Markets minimum deposit is 200. Please note that any cryptocurrency availability with any broker is subject to regulation.
| Broker |
eToro
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IC Markets
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AvaTrade
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XTB
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Roboforex
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FP Markets
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| Min Deposit | 10 | 200 | 100 | 0 | 1 | 100 |
| Withdrawl Fees | Yes | No | No | varies | Yes | No |
| Inactivity Fees | Yes | No | No | Yes | No | No |
| Deposit Fees | No | Varies | No | No | No | Yes |
| CFD Commission Fees | Yes | Yes | No | Yes | No | Yes |
What are the Best Forex Brokers For Beginners Funding and Withdrawal Methods?
When dealing with Best Forex Brokers For Beginners having convenient funding and withdrawl facilities makes the trading process and your trading experience smoother.
| Broker |
eToro
|
IC Markets
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AvaTrade
|
XTB
|
Roboforex
|
FP Markets
|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes |
| Paypal | Yes | Yes | Yes | Yes | No | Yes |
| Skrill | Yes | Yes | No | Yes | No | Yes |
| Payoneer | No | No | Yes | Yes | Yes | No |
| Neteller | Yes | Yes | Yes | Yes | Yes | Yes |
Find Best Forex Brokers For Beginners with Round-the-clock support?
Customer service is very important when dealing with Best Forex Brokers For Beginners.
When investing and dealing with brokers customer support can be a range of customer services to assist customers in making cost effective and correct use the brokers services. It can include assistance in installation, training, troubleshooting, upgrading, and cancelation of a product or service.
Best Forex Brokers For Beginners customer support can include Phone answering services, Live chat support and Email customer service support.
eToro support a wide range of languages including English, German, Spanish, French, Italian
IC Markets support a wide range of languages including English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
eToro and IC Markets offer support where clients are able to call or contact the helpdesk via email or a chat service.
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eToro
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IC Markets
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AvaTrade
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XTB
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Roboforex
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FP Markets
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| Languages | English, German, Spanish, French, Italian | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | Arabic, Simplified Chinese, Traditional Chinese, Dutch, English, Finnish, French, German, Hungarian, Italian, Indonesian, Japanese, Mongolian, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Malay, Korean and Turkish | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish,Indonesian, Thai, Malay, German, Vietnamese |
| Learn More | Visit eToro | Visit IC Markets | Visit AvaTrade | Visit XTB | Visit Roboforex | Visit FP Markets |
| Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 71% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits |
Make sure the Best Forex Brokers For Beginners Offer Comprehensive Trader resources?
Make sure your broker offers free resources like analysis, education and risk-management tools. With a wealth of knowledge from top analysts, eToro and IC Markets work together to bring the latest news and insights to traders.
For most traders, the first – and sometimes only – concern is pursuing their 'edge'. While that is surely important, along with sound money management habits, to navigating the markets; that step alone does not represent the full preparation. As each trader dives into this important venture, it is important not to forget the most rudimentary yet crucial steps such as selecting the best broker to access the markets.
Why Best Forex Brokers For Beginners needs to be regulated?
A regulated Best Forex For Beginners broker lowers your risk.
Broker regulation protects consumers. Too little broker regulation can lead to poor services and possibly financial harm.
Best Forex For Beginners brokers are regulated to stop fraud. The agent's working capital and clients funded account have to be separated. This amounts to fraud if client money is used to conduct the business. Regulation is required to make sure this does not happen.
Best Forex Brokers For Beginners List
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, MacCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5Customer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Plus500 offer a 100% Free and Unlimited Demo account No Deposit fees/Commissions No hidden fees Competitive fees Tight Spreads
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
