The forex exchange market is the largest and most active financial trading market globally. When looking to profit from this market, it is important that traders, both amateurs and experienced, look for the best forex brokers to trade with. But with the many new forex brokers cropping up online every single day, choosing the best can be tasking. To save you time and help beginner traders looking to learn forex identify the best brokerage firms to trade with, here are three key factors to consider;
Regulated brokers are usually regulated, trusted, and offer user-friendly platforms for beginners to learn forex.
Another important feature is the availability of educational resources.
Great currency brokers provide access to quality and relevant market research.
The best forex brokers for beginner traders
Etoro is a popular forex broker that is famed for its robust copy-trading platform. This platform allows traders to view and copy other seasoned traders strategies.
Given that getting into currency trading can be intimidating for first time traders, Etoro takes away some of that fear factor. It does this by allowing you to copy what other more experienced traders are doing. Looking at real examples from live settings goes a long way in showing you how things are done much faster than trying to piece it all together on your own.
Other than that, this platform is intuitive and offers some useful educational resources and news for new traders to learn.
IG is one of the biggest forex brokers in the world with over 40 years experience in the forex and CFD business. It is regulated by several reputable bodies globally, including FCA. This broker offers traders access to a comprehensive product line, including forex, stock sectors, stock indices, commodities, bonds, and cryptocurrencies.
IG is highly recommended for beginner traders looking to learn to trade, especially for its easy to use trading platform. It also offers a helpful and reliable customer service that is available to traders 24 hours a day 5 days a week. They also offer traders a demo account where they can test trade CFDs, forex and spread betting.
Forex.com is one of the few well-rounded brokerage firms that cater to the trading needs of beginners. This broker makes forex exchange accessible to all traders regardless of their experience. This is done through a combination of competitive pricing, excellent customer support, support for popular trading platforms and its top of currency pairs, as well as the line educational material.
Here you will be able to trade over 80 currency pairs. It offers expert market analysis and a free demo account, which allows you to try out new strategies using virtual money. It also allows you to try out different trading platforms like the live MT4 trading platform or stick to what you are used to.
The time and money you commit when you dive into this complex investing world calls for a lot of patience and extensive study. Take the time to research the different forex brokers available to you to choose the best one for your marketing needs.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.