Best Forex Brokers for Beginners
#1 Best beginner broker
- Largest selection of currency pairs
- Regulated in major markets & listed in UK
- Powerful charts & pattern tools
81% of retail CFD accounts lose money
#2 Best beginner broker
Etoro - #1 best Beginner broker
81% of retail CFD accounts lose money
Forex.com - #2 best Beginner broker
Best Forex Brokers for Beginners
Choosing the absolute best broker for your needs as a beginner can be the difference between a long and profitable trading career and crashing and burning within the first few weeks.
But if you’re starting out, you might not even know what factors to consider, much less what broker to choose.
With that in mind, we've ranked the best 3 forex brokers in the market for beginners in terms of customer service, trading platforms, research, commission structure, and regulatory scrutiny.
These are the most important broker features for beginners. They will determine trade execution speed, risk of monetary loss due to technical issues or broker default, and the quality of the information used for trading.
We’ve spent countless hours weeding out the non-regulated and not trustworthy forex brokers, of which there are many, to come up with this list.
#1 Best beginner broker
- Largest selection of currency pairs
- Regulated in major markets & listed in UK
- Powerful charts & pattern tools
81% of retail CFD accounts lose money
Final Thoughts
Choosing a forex broker as a beginner is not an easy task. You can easily get overwhelmed by all the factors to consider and the vast choice available, but at the end of the day, the most important factor is how reputable the broker is and how much regulatory oversight it has.
This will influence how much liquidity and stability the broker has, impacting its ability to provide timely withdrawals to traders.
The forex broker industry is so competitive than most of the reputable and regulated brokers will offer solid support, good credit lines, and easy to use interfaces- The differences in these factors will be minimal.
In conclusion, as long as you stick with one of the above listed brokers you are unlikely to fail as a result of broker choice. But if you want to ease in, I highly recommend the social trading format of eToro.com
Forex trading involves risk. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. You may lose more than you invest. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading
Jack Morgan
Author: Jack Morgan
Jack Morgan is the senior broker tester at Financeeo. Bringing more than 20 years experience from the online broker industry. Jack has spent many hours rigorously testing brokers.
