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:

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!

 

[bdanblue]

Thank you very much for the info but I believe that is something we need to study in real depth.

 

[andengireng]

FX View is fraud, my complaint levels have risen, due primarily to withdrawal requests that have either been delayed or ignored. Regulators have become suspicious and published advisories of their own, I warn you about the unauthorized activities of this broker. be careful ...

 

[dahlia_45]

FX View is fraud, my complaint levels have risen, due primarily to withdrawal requests that have either been delayed or ignored. Regulators have become suspicious and published advisories of their own, I warn you about the unauthorized activities of this broker. be careful ...

What happened? I trade with them too, no issues till now. Anything major happened?

 

[settel22]

can someone of you share real reviews about the brokers you are using like andengireng.
This overview is nice but like andengireng said, that real experience with the brokers can be difficult.
I am using Vantage right know but looking for a broker with lower spreads.
So far Vantage was really relieable but the spreads are to high for scalping.