Best Forex Brokers For Beginners in 2023

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:

https://fxview.com/
https://www.avatrade.com/
https://aaafx.com/
https://pepperstone.com/en/
https://www.icmarkets.com/global/en/
https://www.forex.com/en/
https://www.xm.com/
https://www.fxpro.com/
https://www.fxcm.com/markets/
https://roboforex.com/

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:

https://www.zulutrade.com/
https://www.copyfx.com/
https://www.duplitrade.com/
https://ctrader.com/
https://www.myfxbook.com/

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

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Hey, nice list, seeing many familiar names! Beginners should try brokers on demo before going live with any, trade safe, trade well :slightly_smiling_face:

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That’s quite the extensive list. Thanks for taking the time to make it!!

Nice list man, glad to see aaafx and icm in there - worth trading if you haven’t.

Nice list, but I am still sticking with my broker forexchief this year, so long they continue to perform well. The spreads are still very low, payment system is still very good.

Considering Fxview currently mostly because of the 100% deposit bonus.