The needs of new fx traders can differ quite bit from veteran counterparts. Newbies will often need some basic market information to help them get started, friendly customer service reps to help them with account opening, easy to use trading software and trading peers they can call upon for advice.
In ranking the top forex brokers for beginners, weve selected brokers who stand out in the areas of educational resources, customer service, user friendly trading platforms, and social trading.
We look for brokers who have a deep archive of articles, webinars, e-courses, seminars and personalized training. This will help provide you with the knowledge base and confidence to trade on your own.
Another area we weigh heavily is whether the broker offers attentive 24/hr multi-lingual customer service and personal account managers for all account types. Good service ensures smooth account opening, fund transfer and fast resolution of technological issues.
Trading software can be intimidating and difficult to navigate for newcomers to forex trading. We screen forex brokers to see if they also offer platforms with intuitive, user friendly interface ideal for beginners.
Lastly, we also considered the social trading services offered by brokers. Consulting with an active community of traders is a easy and fun way to get into forex trading and quickly climb up the learning curve.
Best Online Currency Trading Platforms for Beginners
Access to premium forex education service, Hushtrade, covering fundamental and technical analysis, trading strategy and psychology
Best Customer Support Award in 2009 from Daily Forex with 24 /5 phone support with local numbers in more than 34 countries
Self directed trading done via Metatrader 4. Not most user friendly platform but Avatrade has detailed video tutorials
Multiple social trading options via Mirror Trader and Zulutrade
Market Analysis and Educational Resources From Reputable Independent Providers Like Autochartist, FXInsights, Dow Jones, and Hushtrade
Excellent Educational Resources including 1 to 1 training, Demo Accounts, Tutorials, Webinars, eBooks, and Charting Aids
24 Hour Award Winning Customer Service with support from Personal Account Managers and Trading Specialists
Offers user friendly Markets Webtrader platform that still has professional grade charting tools and indicators
Social trading via its Sirix Webtrader where you can view and copy trades of other community members in real time.
Trade360 provides real time information on the percentage of buyers and sellers of a given pair which can helping novice traders making trading decisions without having to first master the finer details of fundamental or technical analysis
Easy account opening process with your Google or Facebook account
Customer Support available via Whats App chat allowing you to get your questions answers on the go
A user friendly but powerful browser-based trading platform with an intuitive point and click interface
Free trading signals from Alliance Signals, an independent signal provider
A unique social trading experience which allows you to learn from, follow, chat with more experienced forex traders
24/5 multi-lingual phone support plus personal account managers for accounts with deposits of $1000 or more
Award-winning, easy to use social trading platform which gives you free access and full transparency into other traders portfolio and activity, signals, and market commentary
Easy account opening process with your Google, Facebook or Twitter account
Tradeo display the percentage of traders buying and selling every available instrument on its platform giving you valuable real-time market insights
Winner of Best Forex Education in 2012 at the UK Forex Awards. Nice archive of educational articles, videos, eBooks as well as live webinars and seminars.
24/5 phone support for all accounts and personal assistance with trade strategy and order execution from Dealing Room for VIPs
User friendly EasyMarkets Webtrader with helpful tools like Inside Viewer
EasyMarkets does not offer social trading at this time
Top Forex Brokers for Beginners Ranking Summary
Heres a table summarizing our ratings of the Best Forex Brokers for Beginners of 2017.
Articles, Webinars, Videos, ebooks, access to Hushtrade (premium education website)
Metatrader 4 (PC, Mac, Browser), Avatrader (PC, Mac, Browser), Avatrader Options (PC, Browser), Mirror Trader, ZuluTrade, Signal Trader, Metatrader 4 Mobile (android, ios), Avatrader Mobile (Android, ios)
Metatrader 4, Metatrader 4 Multi-terminal, Market WebTrader, Sirix Webtrader, Market Mobile Trader
Trade360 Online Trading, Trade360 iOS, Trade360 Android
Articles, Videos, eBooks, Webinars, Seminars, Expos
Metatrader 4 (PC), Metatrader Multi-terminal (PC), EasyMarkets Web Trader (Browser), Metatrader 4 Mobile (iPhone, Android), EasyMarkets Mobile (iPhone, Blackberry)