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10 Best Forex Brokers for Beginners

Best Forex Brokers for Beginners

 

The 10 Best Forex Brokers for Beginners – Rated and Reviewed. We have listed the Best Forex Brokers suited to Beginner Traders.

 

In this in-depth write-up you will learn:

 

  • A List of the 10 Best Forex Brokers for Beginners
  • What to Look for When Choosing a Forex Broker
  • Pros and Cons of Forex Trading

 

and much, much more!

 

🔍Forex Broker🎁Sign Up Here💵Minimum Deposit⬆️Leverage
🥇eToro👉 Click Here$50 USD1:400
🥈HFM👉 Click Here$100 USD1:2000
🥉AvaTrade👉 Click Here$100 USD1:400
🏅XTB👉 Click Here$0 USD1:30
🏆RoboForex👉 Click Here$10 USD1:2000
🎖️FXCM👉 Click Here$50 USD1:1000
🥇Admirals👉 Click Here$100 USD1:500
🥈CMC Markets👉 Click Here$0 USD1:500
🥉FP Markets👉 Click Here$100 USD1:500
🏆XM👉 Click Here$5 USD1:30

 

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.6/5

FSC, CMA

MT4, MT5, FXTM Trader

USD 200

2000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.7/5

ASIC, FCA, CySEC, SCB

MT4, MT5, TradingView

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 200

2000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

9

USD 200

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.9/5

ASIC, CySEC

MT4

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.7/5

ASIC, FCA, CySEC, SCB

MT4, MT5, TradingView

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

9

USD 200

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.7/5

ASIC, FCA, CySEC, SCB

MT4, MT5, TradingView

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

9

USD 200

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.9/5

ASIC, CySEC

MT4

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

10

USD 100

500:1

10 Best Forex Brokers for Beginners (2025)

 

  1. ☑️eToro – Overall, Best Forex Broker for Beginners
  2. ☑️HFM – Offers 80+ Technical Indicators
  3. ☑️AvaTrade – Known For its easy-to-use Trading Platforms
  4. ☑️XTB – Supports a Wide Range of Languages
  5. ☑️Roboforex – Low Minimum Deposit for Beginner Traders
  6. ☑️FXCM – Offers Competitive spreads for Active Traders
  7. ☑️Admirals – 40 Currency Pairs Available
  8. ☑️CMC Markets – Customer Support is Available 24/5
  9. ☑️FP Markets – Offers high leverage up to 1:500
  10. ☑️XM – Extensive Educational Resources and Tools

 

 

eToro Review

1. eToro

eToro is a top social trading platform for stocks, forex, and cryptocurrencies, regulated by FCA, CySEC, and ASIC. It offers a single account type with over 1,083 instruments, including 47 currency pairs. Minimum deposit varies by country. The platform supports individual and social trading and provides customer support in multiple languages, including English, German, Spanish, French, and Italian.

 

🔍Broker🥇eToro
🔢Year Founded2007
👤Amount of Staff1,000+
👥Amount of Active Traders30+ million
📌Publicly Traded None
📉RegulationCySec (Cyprus)
FCA (UK).
🌎Country of RegulationUK
Cyprus
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes
(for European
clients under
CySEC
regulation)
➡️Institutional AccountsNone
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesUSD
EUR
GBP
AUD
💵Minimum Deposit$10
(varies by
region and
payment
method)
⏰Average Deposit/Withdrawal Processing TimeInstant for
deposits;
1-8 business
days for
withdrawals
💳Fund Withdrawal Fee$5
✏️Spreads from1 pip
💶CommissionsZero commission
for stocks,
spreads on
CFDs
9️⃣Number of Base Currencies Supported9
USD
EUR
GBP
AUD
CAD
JPY
CHF
NZD
and more
💷Swap Fees✅Yes
(overnight fees)
⬆️LeverageUp to 1:30
(varies by
instrument
and region)
📉Margin RequirementsDepends on asset class
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeMarket execution
🖥️VPS HostingNone
👉CFDs-Total Offered2,000+
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsBank transfer
Credit/debit card
PayPal
Neteller
Skrill, and more
💳Withdrawal OptionsBank transfer
Credit/debit card
PayPal
Neteller
Skrill, and more
📊Trading PlatformsProprietary eToro
Platform
(Web and
Mobile)
🍎OS CompatibilityWindows
Mac
iOS
Android
🔩Forex Trading ToolsCopyTrader
ProCharts
Trading Signals
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email AddressOnline contact form
☎️Customer Support Contact NumberN/A
📱Social Media PlatformsFacebook
Twitter
LinkedIn
YouTube
⚙️Languages Supported on eToro Website20+ languages
🎓Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesBlogs
Tutorials
Guides
Videos
🤝Affiliate Program✅Yes
👥Amount of PartnersN/A
🫰🏻IB ProgramNone
🎁Sponsorships✅Yes,
various sports
and events
🎀Rebate ProgramNone
💰Cent or Micro AccountsNone
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, CySEC, MFSA, ADGM, ASIC, FSAS, FinCEN

Trading Platform

No Trading Desk

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

 

Pros and Cons

✅ Pros❌ Cons
User-friendly
interface,
suitable for
beginners
Limited advanced
trading tools
compared to
some platforms
Offers stocks,
ETFs,
cryptocurrencies,
and CFDs
Not all
cryptocurrencies
are available,
especially in
certain regions
Ability to copy successful
traders, ideal
for beginners
Reliance on
others'
strategies,
potential for
losses

 

Frequently Asked Questions

 

What fees does eToro charge?

eToro charges various fees, including spreads on trades, overnight fees for leveraged positions, and withdrawal fees.

 

Can I trade cryptocurrencies on eToro?

eToro provides a diverse selection of cryptocurrencies for trade, including well-known options such as Bitcoin, Ethereum, and Litecoin.

 

Does eToro offer a demo account for practice trading?

Yes, eToro provides a free demo account with $100,000 in virtual funds.

 

Is eToro regulated and safe to use?

Yes, eToro is regulated by several top-tier financial authorities, including the FCA in the UK, CySEC, and ASIC.

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, CySEC, MFSA, ADGM, ASIC, FSAS, FinCEN

Trading Platform

No Trading Desk

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

 

Our Verdict

eToro is a popular social trading platform that offers a unique blend of traditional brokerage services and social investment features.

 

HFM Review

 

2. HFM

HFM, established in 2007 and regulated by multiple authorities, offers an MT5 Terminal with 21 timeframes, advanced analysis tools, and over 80 technical indicators. Accessible via iPhone, it supports fast order execution, multiple order types, and EAs.

 

🔍Broker🥇HFM
🔢Year Founded2010
👤Amount of Staff200+
👥Amount of Active Traders2.5 million+
📌Publicly Traded None
📈RegulationFSCA
DFSA
FSA
FCA
FSC
CMA
🌎Country of RegulationUK
South Africa
UAE
Seychelles
🗂️Account Segregation✅Yes
➡️Negative Balance Protection✅Yes
📌Investor Protection Schemes✅Yes
🎉Institutional Accounts✅Yes
👤Managed Accounts✅Yes
(PAMM/MAM
accounts)
💵Minor Account CurrenciesUSD
EUR
GBP
JPY
AUD
ZAR
💶Minimum Deposit0 USD
⏱️Average Deposit/Withdrawal Processing Time1 - 3 business days
💴Fund Withdrawal FeeNone,
but third-party
fees
may apply
✏️Spreads 0.0 pips
💷CommissionsFrom $6 per
lot
(round turn)
🔢Number of Base Currencies Supported12
💵Swap Fees✅Yes
⬆️LeverageUp to 1:1000
📉Margin RequirementsVaries by instrument
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏰Order Execution Time< 30ms
🖥️VPS Hosting✅Yes
📈CFDs - Total Offered1,200+
📊CFD Stock Indices20+
✏️CFD Commodities20+
👉CFD Shares950+
💳Deposit OptionsBank transfer
Credit/Debit cards
Skrill
Neteller
PayPal
Cryptocurrencies
Local Payment Methods
💴Withdrawal OptionsBank transfer
Credit/Debit cards
Skrill
Neteller
PayPal
Cryptocurrencies
Local Payment Methods
📊Trading PlatformsMetaTrader 4
MetaTrader 5
HF App
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsAutochartist
Trading Central
VPS
HFcopy
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addresssupport@hfm.com
☎️Customer Support Contact Number+44 203 097 5796
📱Social Media PlatformsFacebook
Twitter
Instagram
LinkedIn
YouTube
⚙️Languages Supported on WebsiteMultiple
languages,
including English,
Chinese, Spanish,
Arabic
🎓Education and Research✅Yes
✏️Forex Course✅Yes
🖥️Webinars✅Yes
📖Educational ResourcesArticles
Video Tutorials
eBooks
Market Analysis
🤝Affiliate Program✅Yes
🫶IB Program✅Yes
🎁Sponsorships✅Yes
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 0 

Regulators

FSCA, DFSA, FCA, CMA, FSA

Trading Platform

MT4, MT5, HFM APP

Crypto

Yes

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
Regulated by
reputable
authorities like
FSCA and FSA
Regulation in
some regions
may be less
stringent than
others
Offers popular
MetaTrader 4
platform
Limited to
MetaTrader 4,
no proprietary
platform
Various account
types to suit
different traders
Some account
types may
have higher
fees or spreads

 

Frequently Asked Questions

 

Is HFM a regulated broker?

Yes, HFM is a regulated broker. The company operates under the oversight of several regulatory authorities, including CySEC, FSA, and others.

 

What assets can I trade with HFM?

HFM provides a diverse range of trading instruments, including forex pairs, commodities, indices, stocks, cryptocurrencies, and bonds.

 

How does HFM ensure the safety of my funds?

HFM prioritizes the safety of its clients’ funds by implementing several security measures. These include segregating client funds from the company’s operational funds, providing negative balance protection, and adhering to stringent regulatory requirements.

 

Does HFM offer educational resources for traders?

Yes, HFM offers a comprehensive range of educational resources designed to help traders improve their skills and knowledge.

 

Overall Rating

Min Deposit

USD 0 

Regulators

FSCA, DFSA, FCA, CMA, FSA

Trading Platform

MT4, MT5, HFM APP

Crypto

Yes

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

In general, HFM is a broker traders should consider if they want a regulated platform with a range of trading options. Nevertheless, like all brokers, it is important to do careful research and assess personal trading requirements before finalizing a choice.

 

AvaTrade Review

 

3. AvaTrade

AvaTrade, founded in 2006, is an online broker offering Forex, CFDs, Spread Betting, and Social Trading. It features user-friendly platforms like MetaTrader 4, MetaTrader 5, and AvaTradeGO. Regulated by multiple authorities, it ensures a safe trading environment. MetaTrader 4 provides access to over 250 assets and 30 advanced charting tools. Customer support is available via email, phone, or live chat.

 

🔍Broker🥇AvaTrade
🔢Year Founded2006
👤Amount of staff200+
👥Amount of active tradersOver 300,000
📌Publicly Traded None
📈RegulationCentral Bank of Ireland (CBI)
Australian Securities
and
Investments
Commission (ASIC)
Financial
Sector
Conduct Authority
(FSCA)
Financial
Services Agency
(FSA) Japan
Abu Dhabi
Global Markets (ADGM)
Financial Services
Regulatory
Authority (FSRA),
and more.
🌎Country of regulationIreland
Australia
Japan
UAE
South Africa
British Virgin Islands
🗂️Account Segregation✅Yes
🌟Negative balance protection✅Yes
💙Investor Protection SchemesCompensation scheme
for eligible
clients under
certain
jurisdictions
➡️Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor account currenciesUSD
EUR
GBP
AUD
JPY
CHF
ZAR, and more
💵Minimum Deposit$100
⏰Average deposit/withdrawal processing timeDeposits: Instant
Withdrawals: 1-3
business days
💳Fund Withdrawal FeeNo fees on
most payment
methods,
but some
charges may
apply depending
on the
method used
✏️Spreads from0.9 pips (EUR/USD)
💷CommissionsNo commissions
on most
trades; spreads
apply
🔟Number of base currencies supported10+
💶Swap Fees✅Yes
Swap-free
accounts available
for
Islamic traders
⬆️LeverageUp to 1:400
depending on
jurisdiction
📉Margin requirementsVaries based
on asset and
leverage used
☪️Islamic account (swap-free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeFast execution
generally
less than 1 second
🖥️VPS Hosting✅Yes
for qualifying
accounts
👉CFDs-Total Offered1000+
📈CFD Stock Indices30+
📉CFD Commodities20+
📊CFD Shares600+
💵Deposit OptionsCredit/Debit Card
Bank Transfer
PayPal
Skrill
Neteller
WebMoney, and more
💳Withdrawal OptionsCredit/Debit Card
Bank Transfer
PayPal
Skrill
Neteller
WebMoney, and more
📊Trading PlatformsMetaTrader 4 (MT4)
MetaTrader 5 (MT5)
AvaTradeGO
WebTrader
AvaOptions
🍎OS CompatibilityWindows
MacOS
iOS
Android
🔩Forex trading toolsAutochartist
Trading Central
Economic Calendar
AvaProtect, and more
🫴🏻Customer Support✅Yes
🗣️Live chat availability✅Yes
💻Customer Support Email addresssupport@avatrade.com
☎️Customer Support Contact NumberVaries by region
accessible through
the website
📱Social media PlatformsFacebook
Twitter
LinkedIn
YouTube
⚙️Languages supported on FBS WebsiteMultiple languages including
English
Spanish
French
Italian
Arabic, and more
🎓Education and Research✅Yes
✏️Forex course✅Yes (AvaAcademy)
💻Webinars✅Yes
📖Educational ResourceseBooks
Videos
Tutorials
Blog
Market Analysis
🤝Affiliate program✅Yes
👥Amount of partnersThousands globally
🫰🏻IB Program✅Yes
🎁Sponsorships✅Yes
Various sponsorships
including the
Manchester City
Football Club)
🎀Rebate program✅Yes
💰Cent or Micro AccountsNone
Offers Standard
and Professional
Accounts
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 100 

Regulators

ASIC, FSA, CBI,  BVI, FSCA, FRSA, ISA

Trading Platform

MT4, MT5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
Regulated in
multiple
jurisdictions,
ensuring security
Can be subject
to different
regulatory
requirements
depending on
location
User-friendly
platform,
suitable for
beginners
Limited advanced
trading features
compared to some
competitors
Offers a wide
range of assets
for trading,
including forex,
CFDs,
cryptocurrencies,
and more
Not the largest
asset selection
in the market

 

Frequently Asked Questions

 

Does AvaTrade offer customer support, and in what languages?

Yes, AvaTrade provides multilingual customer support through live chat, email, and phone, with availability in several languages.

 

Does AvaTrade offer educational resources for traders?

Yes, AvaTrade provides an extensive range of educational resources, including webinars, trading guides, video tutorials, and market analysis

 

Is AvaTrade a regulated broker?

Yes, AvaTrade is regulated by several top-tier authorities worldwide, including the Central Bank of Ireland, ASIC, and FSCA in South Africa, among others.

 

What trading platforms does AvaTrade offer?

AvaTrade offers a variety of trading platforms, including MetaTrader 4, MetaTrader 5, AvaTradeGO, and AvaOptions.

 

Overall Rating

Min Deposit

USD 100 

Regulators

ASIC, FSA, CBI,  BVI, FSCA, FRSA, ISA

Trading Platform

MT4, MT5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

Overall, AvaTrade can be considered a solid choice for many traders. They are regulated and offer a wide range of trading instruments and platforms.

 

XTB Review

 

4. XTB

XTB, founded in 2002 and regulated by the UK FCA, operates in 13 countries and is listed on the Warsaw Stock Exchange. It offers 25 crypto CFDs, available 24/7, with 2:1 leverage and a 365-day expiry. XTB supports multiple languages, including English, Spanish, and German.

 

🔍Broker🥇XTB
🔢Year Founded2002
👤Amount of Staff1,000+ employees
👥Amount of Active TradersOver 495,000
📌Publicly Traded ✅Yes,
listed on
the Warsaw
Stock
Exchange
📉RegulationFCA (UK)
CySEC (Cyprus)
KNF (Poland)
IFSC (Belize)
🌎Country of RegulationUK
Cyprus
Poland
Belize
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes
up to
€20,000 under
CySEC
up to £85,000 under FCA
🌟Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesUSD
EUR
GBP
PLN
💵Minimum Deposit$0 for
standard accounts
⏰Average Deposit/Withdrawal Processing TimeDeposits: Instant
to 1 business day
Withdrawals: 1-3
business days
💳Fund Withdrawal FeeNo fees for bank
transfers
above a
certain amount
otherwise,
charges may
apply
✏️Spreads from0.1 pips
💷CommissionsCommissions
apply for
certain
account types
and assets
(e.g., stocks,
ETFs)
4️⃣Number of Base Currencies Supported4
USD
EUR
GBP
PLN
💸Swap Fees✅Yes
depends on
instrument and
account type
⬆️LeverageUp to 1:500
(depending on
jurisdiction
and asset)
📉Margin RequirementsVariable,
depending on
asset and
leverage
☪️Islamic Account (swap-free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeAverage 85
milliseconds
🖥️VPS HostingNone
👉CFDs-Total OfferedOver 2,000 CFDs
📈CFD Stock Indices35+
📉CFD Commodities20+
📊CFD SharesOver 1,800
💶Deposit OptionsBank transfer
Credit/Debit card
Skrill
Neteller
PayPal
💳Withdrawal OptionsBank transfer
Credit/Debit card
Skrill
Neteller
PayPal
📊Trading PlatformsxStation 5
xStation Mobile
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsAdvanced charting tools,
economic calendar
sentiment indicators
trading calculators
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addresssupport@xtb.com
☎️Customer Support Contact NumberVaries by region
(UK: +44 203 695 3086)
📱Social Media PlatformsFacebook
Twitter
LinkedIn
YouTube
⚙️Languages Supported on WebsiteMultiple languages
including
English
Spanish
French
German
Polish
🎓Education Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles
tutorials
videos
eBooks
🤝Affiliate Program✅Yes
👥Amount of PartnersNot publicly disclosed
🫰🏻IB Program✅Yes
🎁SponsorshipsNot currently
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
micro-lot
trading available
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, CySEC, IFSC, KNF

Trading Platform

MT4, xStation

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
User-friendly platformNo MetaTrader 4 or 5
Wide range of
assets,
including stocks,
forex, indices,
commodities,
and
cryptocurrencies
Limited compared
to some
competitors
Competitive spreads,
no commission
on stocks
and ETFs
(up to a
certain limit)
Commissions
apply after
a certain
trading volume

 

Frequently Asked Questions

 

What is the minimum deposit required to start trading with XTB?

The minimum deposit required to open an account with XTB is $250.

 

What are the deposit and withdrawal options at XTB?

XTB supports a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, and electronic wallets like PayPal, Skrill, and Neteller.

 

Is XTB regulated and safe to trade with?

Yes, XTB is regulated by several top-tier financial authorities, including the FCA in the UK, the CySEC, and the KNF.

 

Does XTB offer educational resources for traders?

XTB provides a comprehensive range of educational resources, including webinars, video tutorials, trading courses, and market analysis.

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, CySEC, IFSC, KNF

Trading Platform

MT4, xStation

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

XTB is a broker that is under regulation and provides a diverse selection of trading instruments and platforms. Traders looking for a regulated broker with a range of trading options may find XTB to be a suitable option.

 

RoboForex Review

 

5. Roboforex

RoboForex, founded in 2009, is a global online broker offering Forex and CFDs trading. Regulated by the IFSC (license number IFSC/60/271/TS), it requires a minimum deposit of $10 and offers demo accounts for new users. The platform caters to all trader levels with a wide range of instruments and currency pairs.

 

🔍Broker🥇RoboForex
🔢Year Founded2009
👤Amount of Staff200+
👥Amount of Active Traders1,000,000+
📌Publicly Traded None
📈RegulationIFSC
🌎Country of RegulationBelize, Cyprus
🗂️Account Segregation✅Yes
➡️Negative Balance Protection✅Yes
🌟Investor Protection Schemes✅Yes
(up to
€20,000 under
CySEC
regulation)
💡Institutional Accounts✅Yes
👉Managed Accounts✅Yes
💵Minor Account CurrenciesUSD
EUR
GBP
CHF
CNY
GOLD
💴Minimum Deposit$10
⏱️Average Deposit/Withdrawal Processing Time1 - 2 business days
💶Fund Withdrawal FeeNone, but
third-party
fees may
apply
✏️Spreads 0.0 pips
💷CommissionsFrom $2 per
lot
(round turn)
6️⃣Number of Base Currencies Supported6
💸Swap Fees✅Yes
⬆️LeverageUp to 1:2000
📉Margin RequirementsVaries by instrument
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏰Order Execution Time< 1 second
🖥️VPS Hosting✅Yes
(free for
eligible
accounts)
📊CFDs - Total Offered12,000+
📈CFD Stock Indices10+
➡️CFD Commodities20+
👍CFD Shares12,000+
💵Deposit OptionsBank transfer
Credit/Debit cards
Skrill
Neteller
PayPal
Cryptocurrencies
💶Withdrawal OptionsBank transfer
Credit/Debit cards
Skrill
Neteller
PayPal
Cryptocurrencies
📊Trading PlatformsMetaTrader 4
MetaTrader 5
cTrader
R Trader
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsAutochartist
Trading Central
VPS
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addressinfo@roboforex.com
☎️Customer Support Contact Number+44 20 3745 7949
📱Social Media PlatformsFacebook
Twitter
LinkedIn
YouTube
⚙️Languages Supported on WebsiteMultiple languages,
including
English
Spanish
Chinese
🎓Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles
Video Tutorials
Market Analysis
🤝Affiliate Program✅Yes
👥Amount of PartnersNot publicly disclosed
🫶IB Program✅Yes
🎁Sponsorships✅Yes
(various sporting
events and
teams)
🫰🏻Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 10

Regulators

FSC

Trading Platform

MT4, MT5, R.StocksTrader

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
Offers various
account types
to suit different
trader needs
Pro, ECN,
Cent, R Trader)
Some account
types may
have higher
minimum
deposit
requirements
Supports popular
platforms like
MetaTrader 4
and 5, as
well as
proprietary
R Trader
Limited platform
options compared
to some
competitors
Wide range of
tradable assets
including forex,
CFDs, stocks,
indices,
commodities,
and ETFs
Does not offer
cryptocurrencies

 

Frequently Asked Questions

 

Can I trade cryptocurrencies with RoboForex?

Yes, RoboForex offers cryptocurrency trading, allowing clients to trade popular digital currencies like Bitcoin, Ethereum, Litecoin, and more.

 

Does RoboForex offer educational resources for traders?

RoboForex provides a range of educational resources, including webinars, trading tutorials, market analysis, and educational articles.

 

What types of accounts does RoboForex offer?

RoboForex offers several types of trading accounts, including Pro-Standard, Pro-Cent, ECN, Prime, and R Trader accounts.

 

Does RoboForex offer any bonuses or promotions?

Yes, RoboForex frequently offers bonuses and promotions, such as the Welcome Bonus, Deposit Bonus, and Loyalty Program.

 

Overall Rating

Min Deposit

USD 10

Regulators

FSC

Trading Platform

MT4, MT5, R.StocksTrader

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

Roboforex is a licensed forex broker that provides a wide variety of trading options and types of accounts. The broker has become a dominant competitor in the market, offering a trading platform for traders of all levels.

 

FXCM Review

 

6. FXCM

Forex Capital Markets Limited (FXCM) is a regulated broker for Spread Betting, CFDs, and Forex trading under the UK FCA. Part of Leucadia, FXCM offers trading on its proprietary Trading Station platform, as well as MetaTrader 4, NinjaTrader, and ZuluTrade. Customer support is available via live chat, phone, email, and SMS.

 

🔍Broke🥇FXCM
🔢Year Founded1999
👤Amount of StaffOver 600
👥Amount of Active TradersOver 130,000
worldwide
📌Publicly Traded None
📉RegulationFCA,
ASIC,
FSCA,
CySEC
🌎Country of RegulationUnited Kingdom,
Australia,
South Africa,
among
others
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes (only for
retail clients
under FCA
and ASIC
regulation)
💙Investor Protection SchemesFSCS (UK)
➡️Institutional Accounts✅Yes
🫴🏻Managed Accounts✅Yes (through
FXCM Prime)
💴Minor Account CurrenciesEUR,
GBP,
AUD,
JPY,
CAD,
CHF
💵Minimum Deposit$50 for
most account
types
⏰Average Deposit/Withdrawal Time1-3 business days
💳Fund Withdrawal FeeVaries by method
✏️Spreads From1.3 pips (EUR/USD)
💷Commissions✅Yes,
depending on
the account
type
5️⃣Number of Base Currencies Supported5
💸Swap Fees✅Yes
⬆️LeverageUp to 1:400
(depending on
the region)
📈Margin RequirementsVaries by asset
class and
region
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeLess than 1 second
🖥️VPS Hosting✅Yes, for
eligible clients
👉CFDs - Total OfferedOver 300
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsCredit/Debit cards,
Bank Transfer,
Skrill,
Neteller,
UnionPay, etc.
💳Withdrawal OptionsBank Transfer,
Credit/Debit cards,
Skrill,
Neteller, etc.
📊Trading PlatformsTrading Station,
MetaTrader 4 (MT4),
NinjaTrader,
ZuluTrade
🍎OS CompatibilityWindows,
Mac,
iOS,
Android
🪛Forex Trading ToolsTrading signals,
market analysis,
research tools,
automated
trading options
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addressinfo@fxcm.com
☎️Customer Support Contact NumberVaries by region
📱Social Media PlatformsFacebook,
Twitter,
LinkedIn,
YouTube
⚙️Languages Supported on WebsiteEnglish,
French,
German,
Italian,
Chinese,
Japanese,
Arabic,
Spanish,
and more
🎓Education ans Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles,
videos,
tutorials,
webinars,
trading guides
🤝Affiliate Program✅Yes
👥Amount of PartnersNot specified
🫰🏻IB Program✅Yes
🎁SponsorshipsNo notable
sponsorships
currently
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 50

Regulators

FCA, ASIC, FSCA, CySEC

Trading Platform

MT4

Crypto

Yes

Total Pairs

42

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
Regulated in
multiple Tier-1
jurisdictions,
providing security
and trust
Limited availability
of MetaTrader 5
Offers a variety
of platforms
including
MetaTrader 4
and proprietary
solutions
Spreads can be
higher for
standard accounts
Competitive spreads
for active
traders
Commissions can
add up for
less active
traders

 

Frequently Asked Questions

 

What trading platforms are available on FXCM?

FXCM provides multiple trading platforms, including the popular MetaTrader 4 (MT4), Trading Station, and NinjaTrader.

 

What are the minimum deposit requirements at FXCM?

The minimum deposit at FXCM varies depending on the account type and region.

 

Does FXCM provide customer support, and how can I contact them?

Yes, FXCM offers customer support through multiple channels, including live chat, email, and phone. The support team is available 24/5 to assist traders with their queries.

 

What types of accounts does FXCM offer?

FXCM offers various account types, including Standard Accounts, Active Trader Accounts, and Mini Accounts, each tailored to meet the needs of different types of traders.

 

Overall Rating

Min Deposit

USD 50

Regulators

FCA, ASIC, FSCA, CySEC

Trading Platform

MT4

Crypto

Yes

Total Pairs

42

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

FXCM is a reputable forex broker with a solid standing in the field. It provides a strong platform, various trading tools, and competitive pricing.

 

Admiral Markets Review

 

7. Admirals

Admiral Markets, founded in 2001, is a globally recognized online broker based in the UK, offering Forex and CFDs trading. A minimum deposit of $25 is required to start, and traders can sign up for a demo account with access to over 148 instruments and 40 currency pairs. The broker is regulated by the FCA, ASIC, CySEC, and EFSA.

 

🔍Broker🥇Admirals
🔢Year Founded2001
👤Amount of staff400+
👥Amount of active traders100,000+
📌Publicly TradedNone
📉RegulationCySEC
🌎Country of regulationCyprus,
🗂️Account Segregation✅Yes
🌟Negative balance protection✅Yes
💙Investor Protection Schemes✅Yes(FCA
and CySEC
regulated
accounts)
➡️Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor account currenciesEUR
USD
GBP, etc.
💵Minimum Deposit$100
⏰Average deposit/withdrawal processing timeDeposits: Instant;
Withdrawals:
1-3 business
days
💳Fund Withdrawal Fee✅Yes
(depending
on
method)
✏️Spreads from0.0 pips
💷Commissions✅Yes(depending
on account
type)
🔢Number of base currencies supportedMultiple
💸Swap Fees✅Yes
⬆️LeverageUp to 1:500
(depending
on entity
and
jurisdiction)
📉Margin requirementsVaries based
on instrument
and
leverage
☪️Islamic account (swap-free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution Time0.1 seconds on average
🖥️VPS Hosting✅Yes
(conditions
apply)
👉CFDs-Total Offered8,000+
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsBank Transfer
Credit/Debit Card
Skrill
Neteller
PayPal, etc.
💳Withdrawal OptionsBank Transfer
Credit/Debit Card
Skrill
Neteller
PayPal, etc.
📊Trading PlatformsMetaTrader 4
MetaTrader 5
🍎OS CompatibilityWindows
macOS
Android
iOS
🔩Forex trading toolsTrading Central
MetaTrader
Supreme Edition
VPS,
Autochartist, etc.
🗣️Live chat availability✅Yes
💻Customer Support Email addresssupport@admiralmarkets.com
☎️Customer Support Contact NumberVaries by region
📱Social media PlatformsFacebook
Twitter
LinkedIn
YouTube
Instagram
⚙️Languages supported on FBS WebsiteEnglish
German
French
Spanish
Portuguese
Italian
Arabic
Chinese, and more
✏️Forex course✅Yes
💻Webinars✅Yes
🎓Education and ResearchArticles
eBooks
Videos
Tutorials
Market Analysis
🤝Affiliate program✅Yes
👥Amount of partnersVaries
🫰🏻IB Program✅Yes
🎁Sponsorships✅Yes
(varies by
region)
🎀Rebate program✅Yes
💰Cent or Micro Accounts✅Yes
(Admiral.Invest
Admiral.MT5
account types)
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 25

Regulators

JSC

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
Regulated by
multiple financial
authorities (FCA,
CySEC, ASIC)
Regulation varies
by region
Offers MetaTrader
4 and 5
(MT4, MT5)
Limited to MT4
and MT5
Variety of account
types to suit
different traders
Some account
types might
have limitations

 

Frequently Asked Questions

 

What types of accounts does Admirals Markets offer?

Admirals Markets provides several account types, including Trade.MT5, Invest.MT5, Zero.MT5, and Islamic accounts.

 

What instruments can I trade with Admirals Markets?

Admirals Markets offers a broad selection of financial instruments, including forex, CFDs on indices, stocks, commodities, ETFs, and cryptocurrencies, allowing traders to diversify their portfolios.

 

Does Admirals Markets offer negative balance protection?

Yes, Admirals Markets provides negative balance protection, ensuring that clients cannot lose more than their deposited funds, offering an extra layer of security for traders.

 

Does Admirals Markets provide educational resources?

Yes, Admirals Markets offers a rich array of educational resources, including webinars, trading courses, articles, and video tutorials to help traders of all levels enhance their knowledge and skills.

 

Overall Rating

Min Deposit

USD 25

Regulators

JSC

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

Admirals Markets is a trusted forex broker widely recognized and esteemed in the field. They offer a robust foundation, a wide range of trading resources, and competitive pricing.

 

CMC Markets Review

 

8. CMC Markets

CMC Markets is a regulated multi-asset broker offering spread betting and CFDs through the FCA. Clients can trade over 9,000 instruments across Indices, Forex, Cryptocurrencies, Commodities, Shares, and Treasuries on MetaTrader 4 or their proprietary Next Generation platform. Support is available 24/5 via live chat, phone, and email.

 

🔍Broker🥇CMC Markets
🔢Year Founded1989
👤Amount of StaffOver 1,000
👥Amount of Active TradersOver 80,000
📌Publicly Traded ✅Yes
📉RegulationFCA (UK)
🌎Country of RegulationUK
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection SchemesFSCS (UK)
and ASIC's
Investor
Compensation
Scheme
➡️Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesVarious
💵Minimum Deposit£0
⏰Average Deposit/Withdrawal Processing TimeTypically 1-2
business days
💳Fund Withdrawal FeeNo fee
for standard
withdrawals
✏️Spreads From0.7 pips (variable)
💷CommissionsNo commission
on trades,
but spreads
apply
🔟Number of Base Currencies SupportedOver 10
✏️Swap Fees✅Yes,
applicable
depending on
position
⬆️LeverageUp to 1:500
📈Margin RequirementsVaries by
instrument
and leverage
☪️Islamic Account (Swap-Free)None
🆓Demo Account✅Yes
⏱️Order Execution TimeFast, typically
within
milliseconds
🖥️VPS HostingNot offered
👉CFDs - Total OfferedOver 10,000
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💷Deposit OptionsBank transfer
credit/debit card
e-wallets
💳Withdrawal OptionsBank transfer
credit/debit card
e-wallets
📊Trading PlatformsNext Generation
Trading
Platform (web)
MT4
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsAdvanced
charting,
news feed,
analysis tools
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addresssupport@cmcmarkets.com
☎️Customer Support Contact Number+44 (0)20 7170 8200
📱Social Media PlatformsFacebook,
Twitter,
LinkedIn
⚙️Languages Supported on CMC Markets WebsiteEnglish, and others
🎓Education and Research✅Yes
✏️Forex Course✅Yes, vi
webinars
and
educational
materials
💻Webinars✅Yes
📖Educational ResourcesArticles
tutorials,
trading guides
🤝Affiliate Program✅Yes
👥Amount of PartnersMultiple
partners
globally
🫰🏻IB Program✅Yes
🎁Sponsorships✅Yes,
including sports
events
🎀Rebate ProgramNot available
💰Cent or Micro AccountsNone
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, IIROC, ASIC, FMA, MAS

Trading Platform

MT4

Crypto

Yes

Total Pairs

158

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
User-friendly Next
Generation
platform,
MT4 available
Next Generation
platform lacks
backtesting
and automated
trading
Wide range of over
12,000 tradable
instruments
Not all instruments
available
on both
platforms
Competitive spreads,
especially for
forex
Higher-than-average
S&P 500
CFD and
spread bet
spreads

 

Frequently Asked Questions

 

Are CMC Markets regulated?

Yes, CMC Markets is regulated by several top-tier financial authorities, including the FCA, the ASIC, and the MAS.

 

What educational resources do CMC Markets provide?

CMC Markets offers a robust selection of educational resources, including webinars, video tutorials, trading guides, market analysis, and articles.

 

What financial instruments can I trade with CMC Markets?

CMC Markets offers a wide range of financial instruments, including forex, indices, commodities, shares, ETFs, cryptocurrencies, and treasury products.

 

Does CMC Markets offer demo accounts?

Yes, CMC Markets provides a free demo account where traders can practice trading with virtual funds.

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, IIROC, ASIC, FMA, MAS

Trading Platform

MT4

Crypto

Yes

Total Pairs

158

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

Ultimately, the decision of whether CMC Markets is suitable for you relies on your unique trading style, risk tolerance, and financial objectives. Before making a decision, it is crucial to thoroughly research and evaluate other brokers.

 

FPMarkets Review

 

9. FP Markets

FP Markets, founded in 2005 and regulated by ASIC and CySEC, is a global online broker based in Australia. A minimum deposit of $100 is required to start, with a demo account available. Traders can access over 100 instruments and 60 currency pairs on the MT4 platform, along with mobile apps for Android and iOS. Account types include Demo, Mini, Standard, ECN, STP, Managed, and Islamic, supporting various languages.

 

🔍Broker🥇FP Markets
🔢Year Founded2005
👥Amount of StaffOver 200
👤Amount of Active Traders60,000+
📍Publicly Traded None
📈RegulationASIC (Australia)
CySEC (Cyprus)
FSCA (South Africa)
🌎Country of RegulationAustralia
Cyprus
South Africa
🗂️Account Segregation✅Yes
📌Negative Balance Protection✅Yes
🚩Investor Protection Schemes✅Yes (CySEC)
🖋️Account Types and FeaturesStandard
Raw ECN
VIP accounts
available
🎉Institutional Accounts✅Yes
👤Managed AccountsNone
💵Minor Account CurrenciesEUR
USD
GBP
AUD
CAD
CHF
JPY
NZD
SGD
HKD
💴Minimum Deposit$100
⏱️Average Deposit/Withdrawal Processing TimeInstant - 1 business day
💸Fund Withdrawal FeeNone
✏️Spreads 0.0 pips
💷CommissionsFrom $3
per side
(Raw account)
🔢Number of Base Currencies Supported10
💶Swap Fees✅Yes
⬆️LeverageUp to 1:500
📉Margin RequirementsVaries by
instrument
and account
type
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏰Order Execution Time< 40ms
➡️VPS Hosting✅Yes
(for eligible
accounts)
🫴🏻CFDs - Total Offered10,000+
📊CFD Stock Indices23+
💡CFD Commodities12+
👉CFD Shares2,000+
💳Deposit OptionsBank transfer
Credit/Debit card
PayPal
Neteller
Skrill
Fasapay
and more
💳Withdrawal OptionsBank transfer
Credit/Debit card
PayPal
Neteller
Skrill
Fasapay
and more
🛎️Trading PlatformsMetaTrader 4
MetaTrader 5
IRESS,WebTrader
Mobile Apps
💻OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsAutochartist
VPS
Trading Central
Myfxbook
🤝Customer Support✅Yes
🗣️Live Chat Availability✅Yes
🖥️Customer Support Email Addresssupport@fpmarkets.com
☎️Customer Support Contact Number+61 2 8252 6800
📱Social Media PlatformsFacebook
Twitter
LinkedIn
Instagram
YouTube
⚙️Languages Supported on Website10+ including
English
Spanish
Chinese
Arabic
📖Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
🎓Educational Resources✅Yes
(articles,
videos, eBooks,
market
analysis)
🤝Affiliate Program✅Yes
👥Amount of PartnersThousands worldwide
👍IB Program✅Yes
🎁Sponsorships✅Yes,
involved in
sports
sponsorships
💴Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
(Micro Accounts)
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

AUD 100 

Regulators

ASIC, CySEC, FSCA, FSA, FSC, CMA

Trading Platform

MT4, MT5, Iress, WebTrader, cTrader, TradingView, Mobile App

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
Regulated by ASIC,
CySEC, and
FSCA, providing
investor protection
No regulatory
issues reported,
but regulatory
environment
can change
Raw Spreads and
Standard
accounts offer
different pricing
models to
suit various
trading styles
Limited account
types compared
to some
competitors
Supports MetaTrader
4, MetaTrader 5,
and cTrader,
providing flexibility
Iress platform
has fees
and might
not be suitable
for all traders

 

Frequently Asked Questions

 

What types of accounts does FP Markets offer?

FP Markets provides a variety of account types, including Standard and Raw accounts for Forex and CFD trading.

 

Does FP Markets offer negative balance protection?

Yes, FP Markets offers negative balance protection on its retail accounts.

 

What are the spreads like at FP Markets?

FP Markets is known for offering competitive spreads, particularly on its Raw account, where spreads can start as low as 0.0 pips.

 

Does FP Markets provide educational resources for beginner traders?

Yes, FP Markets offers a range of educational resources, including webinars, video tutorials, eBooks, and market analysis.

 

Overall Rating

Min Deposit

AUD 100 

Regulators

ASIC, CySEC, FSCA, FSA, FSC, CMA

Trading Platform

MT4, MT5, Iress, WebTrader, cTrader, TradingView, Mobile App

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

FP Markets is a broker that is regulated and provides a wide variety of trading instruments and platforms. Recognized for its tight spreads and quick order processing, it serves novices and seasoned traders alike.

 

XM Review

 

10. XM

XM Group (XM) is a group of regulated online brokers. Trading Point of Financial Instruments was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10). There are four account types on offer – Micro, Ultra-Low, Standard, and Zero which all allow for up to 200 open/pending positions per client.

 

🔍Broker🥇XM
🔢Year Founded2009
👤Amount of Staff600+
👥Amount of Active Traders5,000,000+
📌Publicly Traded None
📈RegulationCySEC (Cyprus)
ASIC (Australia)
IFSC (Belize)
FCA (UK)
🌎Country of RegulationCyprus
Australia
Belize
UK
🗂️Account Segregation✅Yes
➡️Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes,
up to
€20,000
under CySEC
➡️Institutional AccountsNone
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesUSD
EUR
GBP
JPY
CHF
AUD
HUF
PLN
💵Minimum Deposit$5
⏰Average Deposit/Withdrawal Processing TimeWithin 24 hours
💷Fund Withdrawal FeeNone, but
third-party
fees may
apply
✏️Spreads 0.6 pips
💶CommissionsZero on
Standard and
Micro accounts
commission
on Zero
accounts
🔢Number of Base Currencies Supported11
💸Swap Fees✅Yes
⬆️LeverageUp to 1:1000
📉Margin RequirementsVaries by
instrument and
account type
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution Time< 1 second
🖥️VPS Hosting✅Yes
(free for
eligible accounts)
📍CFDs - Total Offered1,000+
📈CFD Stock Indices30+
➡️CFD Commodities15+
📊CFD Shares1,200+
💳Deposit OptionsBank transfer
Credit/Debit cards
Skrill
Neteller
PayPal
Cryptocurrencies
💴Withdrawal OptionsBank transfer
Credit/Debit cards
Skrill
Neteller
PayPal
Cryptocurrencies
💡Trading PlatformsMetaTrader 4
MetaTrader 5
XM WebTrader
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsAutochartist
Trading Signals
VPS
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addresssupport@xm.com
☎️Customer Support Contact Number+357 25029933
📱Social Media PlatformsFacebook
Twitter
LinkedIn
Instagram
YouTube
⚙️Languages Supported on Website30+ languages
🎓Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles
Video Tutorials
Market Analysis
🤝Affiliate Program✅Yes
👥Amount of PartnersNot publicly disclosed
🫶IB Program✅Yes
🎁Sponsorships✅Yes
(various events
and teams)
🫰🏻Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
(Micro accounts
available)
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 5

Regulators

FSC

Trading Platform

MT4, MT5, XM App

Total Pairs

55

Islamic Account

Yes

Trading Fees

No hidden fees

Account Activation

24 Hours

 

Pros and Cons

✅ Pros❌ Cons
Offers various
bonuses and
promotions
Bonus terms
and conditions
can be complex
Fast and fee-free
deposit and
withdrawal
methods
Some withdrawal
methods might
have limitations
Regulated by
multiple financial
authorities
Regulation can
vary in strength
across different
jurisdictions

 

Frequently Asked Questions

 

Is XM regulated?

Yes, XM is a well-regulated broker operating under several financial authorities, including the CySEC, the ASIC), and the FCA.

 

What trading platforms are available on XM?

XM provides its clients with access to popular trading platforms, including MetaTrader 4 and MetaTrader 5.

 

How can I deposit and withdraw funds from my XM account?

XM offers multiple payment methods for deposits and withdrawals, including credit/debit cards, bank transfers, and various e-wallets.

 

Does XM offer any bonuses or promotions?

XM is known for its attractive promotions and bonuses, including a welcome bonus for new clients, a loyalty program, and periodic trading competitions.

 

Overall Rating

Min Deposit

USD 5

Regulators

FSC

Trading Platform

MT4, MT5, XM App

Total Pairs

55

Islamic Account

Yes

Trading Fees

No hidden fees

Account Activation

24 Hours

 

Our Verdict

XM is a broker with regulations that offers a variety of trading products such as forex, and CFDs on indices, commodities, and shares. Famous for its competitive trading terms and numerous trading platforms.

 

What to Look for when Choosing a Forex Broker

 

What to Look for When Choosing a Forex Broker

Choosing a forex broker is a critical step in your trading journey. It’s important to select a broker that aligns with your trading goals, experience level, and risk tolerance. A well-chosen broker can greatly enhance your trading experience and help you achieve your financial objectives.

Newcomers to forex trading should take into account elements like regulation, trading platforms, customer service, different account options, charges, and educational tools before selecting a broker. Choosing a broker regulated by a trusted financial authority is essential to safeguard your funds.

 

10 Best Forex Brokers for Beginners

 

Pros and Cons

 

✅Pros❌Cons
High LiquidityHigh Volatility
Low Initial InvestmentLeverage Risk
Diverse Trading OptionsLack of Regulation

 

Conclusion

Now it is your turn to participate:

 

  • Which Forex broker from this list do you intend to test out?
  • What was the determining factor in your decision to engage with a certain broker?
  • Was it because of the Brokers Features or the Pros and Cons?

 

Regardless, please share your thoughts in the comments below.

 

You Might Also Like:

 

 

Frequently Asked Questions

 

What is CopyTrader on eToro?

CopyTrader allows you to automatically copy the trades of other successful traders on the platform. You choose a trader to copy, set the amount you want to invest, and the platform mirrors their trades in your portfolio.

 

Is HFM suitable for beginners?

Yes, HFM is beginner-friendly, offering low minimum deposits, demo accounts, and extensive educational resources. The platform is also equipped with easy-to-use trading tools and customer support.

 

Does AvaTrade support social trading?

Yes, AvaTrade supports social trading through platforms like ZuluTrade and DupliTrade, where users can copy the trades and strategies of other successful traders automatically.

 

What is XTB?

XTB is an online broker that provides trading services for forex, indices, commodities, stocks, ETFs, and cryptocurrencies. It is well-regarded for its user-friendly trading platform, competitive spreads, and robust educational resources.

 

Does RoboForex offer a demo account?

Yes, RoboForex provides a free demo account for all users, allowing them to practice trading with virtual funds. The demo account simulates real market conditions and is a good way to test strategies and platforms before trading with real money.

 

Is FXCM suitable for beginners?

Yes, FXCM is considered beginner-friendly, offering educational resources, a demo account, and a user-friendly platform like Trading Station.

 

Does Admiral Markets offer bonuses or promotions?

Due to regulatory restrictions in Europe, Admiral Markets does not typically offer bonuses or promotions.

 

What are CMC Markets?

CMC Markets is an online trading platform that provides trading in various financial instruments, including forex, indices, commodities, shares, ETFs, and cryptocurrencies.

 

Does FP Markets offer bonuses or promotions?

FP Markets typically does not offer bonuses or promotions in regions where they are restricted by regulatory authorities, such as Australia and Europe.

 

Is XM suitable for beginners?

Yes, XM is beginner-friendly. It offers a variety of educational resources, including webinars, video tutorials, e-books, and a free demo account. The minimum deposit is low, and the trading platforms are user-friendly.

 

How Much Money Do I Need to Start Trading Forex?

The initial deposit needed to begin forex trading differs depending on the broker. Certain brokers permit opening an account with just $10, whereas others might mandate $100 or higher. Selecting a broker with a minimum deposit that aligns with your budget and risk tolerance is crucial.

 

Are Demo Accounts Useful for Beginners?

Yes, demo accounts are extremely useful for beginners as they allow you to practice trading with virtual money in a risk-free environment. This helps you become familiar with the trading platform, develop strategies, and understand market movements without risking real capital.

 

What Types of Fees and Costs Should I Be Aware of with Forex Brokers?

Forex brokers may charge various fees, including spreads (the difference between the bid and ask price), commissions, overnight swap fees (for holding positions overnight), and withdrawal or deposit fees. Beginners should understand these costs as they can impact overall profitability.

Author Details

Picture of Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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