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Best 5 Forex Brokers for Beginners

A reputable online forex broker can assist you in becoming a retail forex trader. Because your broker will be your major gateway to the foreign exchange market, check sure it has the services and currency pairs you need, as well as dealing spreads that are competitive enough for your trading strategy. Are you ready to begin trading forex? Get to choose the best forex broker for beginners for yourself from the list below.  

 

  • XTB

XTB is a multi-award-winning CFD platform that offers to trade in Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. XTB offers low-cost spreads on 48 currency pairs in Forex. Customers of XTB can trade on either the xStation 5 or the MT4 platforms. This brokerage provides up to 200:1 leverage for leveraged accounts. In both types of accounts, a set commission of 0.08% lot applies to stock and ETF CFDs. XTB was created in Warsaw in 2002 and has its headquarters there. The IFSC, FCA, KNF, and CySec all regulate it in European markets. XTB offers a free sample account as well as a collection of Trading Academy courses for novice and intermediate traders.

 

  • FOREX.com

FOREX.com is our top pick for the finest forex broker for traders living in the United States. The NFA and CFTC regulate the broker, and its subsidiaries are supervised by six other major regulators throughout the world. To open a trading account, all you need is $100 and you’ll be able to trade in 80 different currency pairs. Non-US clients can use the MetaTrader suite, which includes a mobile trading option, while all traders can use FOREX.com’s own Advanced Trading Platform.

 

best online trading broker for beginners

  • Plus500

Plus500 is a well-known global brand that provides online traders with a simple trading interface and a wide range of CFD products. Plus500, on the other hand, lags behind industry leaders in market research and superior trading tools that active traders demand. Disclosure: A beginner-friendly trading platform does not make it easy to generate money. Trading is a high-risk endeavour.

 

  • BDSwiss

BDSwiss BDSwiss was established in 2012 and provides trading accounts licenced by the Financial Services Commission of Mauritius and the Cyprus Securities and Exchange Commission. On the MetaTrader 4 and MetaTrader 5 trading platforms, as well as the broker’s own BDSwiss Web Trader and BDSwiss Mobile App, users can trade on more than 250 financial CFD instruments, including Forex, Commodities, Cryptocurrencies, Indices, and Equities, using three account types: Classic, VIP, and Raw. In addition, the broker offers live analysis, educational webinars and seminars, as well as beginner to advanced courses in its Trading Academy. Depending on the account type, users can also use Telegram to access AutoChartist and live trading alerts. Customer service is available 24 hours a day, seven days a week.

 

  • CMC Markets

CMC Markets competes with the best in the field when it comes to education, providing forex and CFD traders with a wide range of educational options in a variety of media, including written articles, video updates, podcasts, and live webinars. Aside from education, the CMC Markets Next Generation trading platform is quick, dependable, and full of tools and features.

 

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