There are many kinds of forex brokers in the world, with some offering excellent services to advance ones and others are experts in dealing with novice traders. The real question arises– which is your type of trading website. In this article, we discuss the 7 best forex broker for beginners to start trading.
Generally, it is good to go with genuine brokers, which work under trusted regulations. If not anything, these brokerage firms ensure safety. However, there are other criteria to keep in mind too. Some of them are customer service, demo account, trading platform, spreads & charges, and range of products.
Today, we’ll look at the seven best forex brokers 2021 list which every investor must be aware of. The list includes top trading websites around the world and some descriptions about each of them.
7 Best Forex Broker For Beginners
ET finance (best forex broker for beginners)is the trademark name of Magnum FX Limited, a registered firm with Cyprus financial body, CySEC (Cyprus Securities & Exchange Commission) under the license number 359/18. The company was started in 2018 and offered a number of tradable products including stocks, currencies, indices, commodities, and crypto coins.
The broker also offers services such as high leverage, several deposit & withdrawal options, widely used trading platform MT4, and free demo service account.
T1Markets is another excellent trading broker who is dedicated to providing investment services and products at competitive prices. There are three account types available with the broker, namely, silver, gold, and platinum, segregated according to different traders. Some other services include robust IT security, low spreads & commissions, excellent customer support, and free account opening process.
Notably, the broker is safe to trade as it is regulated with Cyprus financial body, CySEC, under the license number 333/17. Further, there are also client interest policies like no negative balance, encryption at every level, and member of ICF.
HFtrading (best forex broker for beginners) is a 2019 started investment corporation, working under CTRL Investments Limited. The firm is a New Zealand based company and is regulated by ASIC (Australian Securities & Exchange Commission) and FMA (Financial Market Authority). Apart from it, the broker offers commission-free trading and facilitates an MT4 trading platform for its users.
In total, there are around 350+ trading instruments available with the broker, tradable via three account types, namely, silver, gold, and platinum types. There is also a dedicated education, research, and customer service, easily accessible to the users.
One can connect with the broker via telephone, email, live chat, or contact form.
Tickmill broker started in 2014 and is a trading service and products provider in EU nations. The company is safe under the regulations of FCA, CySEC, and FSA. There are three account types and MT4 trading platforms for trading, accessible through mobile, desktop, and web versions.
Some of the other broker features are free and broad research, educational tools, 80+ CFD assets for trading, no commissions and low spreads on orders, and full customer service.
5. Plus 500:
Plus 500 (best forex broker for beginners) is a 2008 started brokerage firm which provides trading services in more than 50 nations globally. The broker is regulated with top financial bodies of the world, including ASIC, CySEC, MAS, ISA, and more. There are a whopping 2500+ financial instruments available for trading with the broker which covers all public markets today.
The research and educational portal of the broker is worth noting, with education content consisting of videos, articles, webinars, seminars, courses, guides, and more. The research part includes market analysers, economic calendar, and earnings calendar.
IG broker is the biggest CFD broker globally, having more than 200,000 customers all over the world. The company has branches in five continents and was started in 1974 by Stuart Wheeler in the UK. It was the world’s first spread betting firm, and the IG Group Holdings Plc is a London stock exchange-listed venture.
The company regulates under several financial bodies which include the UK’s Financial Conduct Authority (FCA), ASIC, FMA, FSCA, DFSA, and many more. Further, the company claims to offer the best spreads and reports them to be 27% lower than their top counterparts.
XM (best forex broker for beginners) is a CySec (Cyprus Securities & Exchange Commission), ASIC (Australian Securities & Investment Commission), and IFSC (International Financial Service Commission) regulated broker having more than 1000 financial products across different market types. One can trade these assets through the broker’s MetaTrader4 and MetaTrader5, available via Web, desktop, and mobile versions.
Notably, the company offers a variety of trading accounts, i.e. ten in total, to its users. All the accounts are segregated for a different level of traders, ranging from beginner to advanced ones.
So, this was our list of best forex brokers 2021. Notably, every trading website mentioned above is different in its service catering and thus, needs to be judged variedly. For example, if one is a novice trader, then T1Markets is the right choice, but HFtrading is suitable for professionals. You should also go through our best stock trading brokers list if you are into share investments.