Best Forex Brokers For Beginners in 2023

[BinarySumo]

Choosing a reliable forex broker can be tricky, especially for beginners. However, with some help, it can be made easier. I’ve listed some parameters on various forums that all beginners should keep in mind while choosing a broker -

• Regulations - For transparent pricing & safety of funds
• Multiple Deposit/Withdrawal Methods - Just in case, one method isn’t working, you have the option to choose another
• Trading cost - It includes spreads and commission. The lower their value is, the better. Swap is also there, but only for overnight trades
• Trading conditions - These consist of leverage, margin call & stop-out level, scalping & hedging strategies
• Bonuses - For trading higher positions with a limited capital
• Copy trading - To copy trades of experienced traders
• Customer support - In case you come across any issue while placing/exiting positions or processing funds

Here’s the list of brokers which are good for beginners and their details:

Links of Forex brokers discussed in the table:

Fxview - True ECN Broker/ Cysec Regulated
Regulated broker | Forex & CFD trading | AvaTrade
AAAFx
Forex Broker - Online CFD Trading Platform | Pepperstone
CFD & Forex Trading | Stocks & CFDs on Commodities | IC Markets
Forex trading | CFD trading | Trade FX Online | Currency Trading | FOREX.com
Forex & CFD Trading on Stocks, Indices, Oil, Gold by XM™
FxPro – The World’s No.1 Online Forex (FX) Broker
Forex Trading | Currency Trading | FXCM Markets
Online Forex Trading - 24/5 | Forex Broker - RoboForex

NOTE:

• Avatrade & Forex.com are the only Market Makers, rest all are ECN Brokers
• All brokers listed on the table offer decent customer support via live chat, email or telephonic support. You can choose the method according to your convenience.

Links of Copy trading platforms discussed in the table:

Trade Forex, Commodities, Indices, Stocks & Crypto | Zulutrade
CopyFX|Forex Copy Trading. Social and mirror trading platform
Automated Trading Made Simple | DupliTrade Automated Trading System
Forex & Algorithmic Trading Community | cTrader Community
Forex Trading tools for Forex traders

Feel free to suggest any advice/tips for beginner from your experience or anything I’ve missed in the thread. Thanks!

 

[Polakandil]

From the list above I ever try XM and Roboforex, but now I am focused on trading using FXOpen broker that is also regulated in the UK, AU, and EU, the trading cost is low and there are so many instrument trading available gives freedom to choose a tradable asset. So far still comfortable using their service, and all my withdrawals are smoothly processed.

 

[Joyry]

Nice list mate, seeing many familiar names like Fxview, ICM and Pepperstone. Recommending them if you are going live, but be sure to prepare in demo before going live.

 

[GumarSafin]

Great job, bro thans a lot!!! Please kindly advice does any of them provide copy trading or asset management?

 

[Georgia_Davies]

Looks like almost all of them offer, when you see that list. Tho, my personal fave would be aaafx and etoro, both have good copy trading platforms.

Great job, bro thans a lot!!! Please kindly advice does any of them provide copy trading or asset management?

 

[jacko]

Just to add... I wouldn't trade with a forex broker which offers sign-up bonus.
for example, you can see a list of top forex brokers here and none of them offer any bonuses because UK & EU regulated forex brokers cannot offer bonuses to gain traders and push them for more deposits.

 

[Hexxler]

For beginners in 2023, the best Forex brokers often provide user-friendly platforms and educational resources. Consider brokers like FreshForex, known for their supportive approach to new traders, and don't forget to check out the FreshForex Birthday Challenge for potential cash rewards.