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Best Forex Brokers for Beginners in 2019

Steven Hatzakis

Published by Steven Hatzakis


Monday, April 15th, 2019

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The ForexBrokers.com annual review is among the most cited in the industry. With over 60,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Industry leaders trust us because our rigorous testing is totally independent and 100% unbiased.

The best forex brokers for beginners offer three essential benefits. The first, and most important, they are a regulated and trusted brand that offers a user-friendly web-based platform. Second, they provide a strong variety of educational resources. Third, they provide access to quality market research.

In our review of forex and CFD broker offerings, we spent endless hours opening demo accounts, navigating forex platforms, conducting market research, testing website usability, as well as watching educational videos and webinars.

What is a Forex Broker?

When it comes to trading foreign currency, you use a forex broker, also known as a currency trading broker, to place your trades. When you trade forex, you buy or sell in currency pairs, e.g. "EUR / USD" (Euro / U.S. Dollar). You open an account, deposit funds, then use the broker's trading platform to buy and sell currency using margin. Forex markets are open 24 hours a day, five days a week. For learning the basics, we recommend the School of Pipsology.

Our Top Picks for Beginner Forex Traders

IMPORTANT: ForexBrokers.com only allows regulated brokers to be included in our annual review each year. As a beginner, trust is crucial. Regulated brokers cannot promote special offers like bonus deposits. For more on this topic, read our guide on How to Avoid Forex Trading Scams.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


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The Best Forex Brokers for Beginners

What is the best forex broker for beginners?

Fees and Features Comparison

Taken from our forex broker comparison tool, here's a comparison of the education features for the most popular beginner brokers.

best forex brokers for beginners features comparison
Best forex brokers for beginners features comparison

Best Forex Trading Platforms for Beginners

More Brokerage Guides

New! Ask our experts a question! Whether you are in university or a seasoned trader, we are here to help. Email us your broker specific question and we will respond within one business day. It is our satisfaction guarantee.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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