The Best Forex Brokers For Beginners In 2023
The forex market is the fastest-growing market in the world. Every single day $5.3 trillion in trades are being executed. The forex trade market consists of 170 countries and is the only market that is open all the time – 24 hours a day and 7 days a week.
While many traders have become rich by making forex trading their career, forex trading is not for everyone out there. In fact, a large number of people who invest in forex lose all their capital investment.
When you are just starting out with forex trading, it is important that you factor in everything before actually investing capital. This includes – investing your time into learning different strategies, knowing the risk that comes with the investment, and educating yourself to know what forex trading is all about.
If you are just starting with forex trading, you need a platform that helps you trade and guides you to make the right decisions.
This is where you will find this article helpful. We have listed top forex brokers for beginners to invest in forex.
Best Forex Trading Platform For Beginners
We have emphasized three factors when choosing the best forex platform for beginners.
- The first is the forex status as a well-regulated platform.
- The second is its user-friendliness. The platform must offer everything in a way that is easily digestible.
- Third, access to quality and actionable research.
When we were creating our list of top forex exchange brokers, we kept these three points.
ForexTime is also known as FXTM. Its primary focus is forex. This specialization is what made it one of the most sought forex brokers. FXTM offers CFDs on 50+ currencies. The spreads are competitive across all the platforms. Furthermore, it is based in Cyprus and licensed by the IFSC.
2. Robo Forex
Robo Forex started its journey to conquer the financial industry in 2009. Since its establishment, the company has offered a list of different products and services to users. Throughout its service, it has maintained a reputation for offering excellent quality at each stage. To learn more about the platform, click forex broker thailand.
PLus500 is a publicly traded CFD company. It was established in 2008 and is offered by Pus500 UK Ltd. Furthermore, it is regulated by the UK Financial Conduct Authority. This forex platform is currently active in more than 50 countries and is authorized and regulated by the Cyprus Securities and Exchange Commission.
Diversity is something FxPro is superior at. This forex broker offers 70+ forex pairs for you to invest. This greatly expands the opportunities you have in trade. FxPro is currently available in more than 170 countries with more than 1 million users. It is regulated by CySEC, FCA, and SCB. The best is that you can start as low as $100.
5. Admiral Market
If you are a beginner, having too many pair options to invest in can be confusing. In that case, Admiral Market is the perfect place for you. It offers 47 trusted pairs and helps beginners avoid investing in weak forex pairs. Because of how cautious it is, Admiral Market offers only average risk options. In addition, there are multiple regulators involved with Admiral Market, making the platform trustworthy.
According to experts, if you want to start investing in forex stocks, use only trusted platforms. The forex brokers we have listed above are a tried and tested platform for beginners to start investing.
Since you are only starting out with your journey, it is important to do thorough research and then settle on one platform to trade.
We hope that this article will help you with your research and help you find the right forex broker for trading.
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