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When you’re planning to enter the Forex market, the most important thing you should consider is how to find a reliable and novice-friendly broker. There are so many different aspects to take into account: fees, spreads, available currency pairs, security, leverage, educational materials, and so on. If you are just a beginner with no prior trading experience, that can be really overwhelming. That’s why we have made this Traders Union article where we’re going to tell you about the best international brokers for a novice trader.
What you should consider
Your success on the Forex market greatly depends on how convenient your broker is: it must have an adequate choice of trading instruments and favorable trading conditions. However, the most important thing about every broker is how it’s regulated: if you want to find a truly reliable intermediary and avoid losing your money, make sure to look for companies regulated by major institutions like FCA. Another way to check a broker is to read user reviews online. But these reviews can also be fake, so you must be very cautious and don’t trust anyone who promises you extreme profits without any risks.
If you can’t decide where to start, we’ve made a short list of the best brokers in the world: you can rest assured that these companies are very well-known and 100% legit.
One of the most popular Forex brokers internationally, RoboForex is used by millions of traders in 169 countries. The company allows you to start trading with just $10, and there are bonuses for new users like a welcome bonus of $30. The trading conditions are pretty good, and a variety of nice educational materials is available for free on the website.
Arguably the largest Forex broker in the world, IC Markets is a reputable company that offers a decent variety of tradable assets, including 60+ currency pairs. It is also known for quick execution of orders, low spreads, and a wide range of additional tools.
Pocket Option is a reliable Forex broker that provides novices with free educational materials that you can pair up with a demo account to practice trading and improve your skills.
According to Traders Union surveys, Exness is one of the most well-known brokers among beginners, and that’s not surprising: it’s secure, well-regulated, novice-friendly, versatile, and cheap.