Top 5 Forex Brokers For Beginners

Below is a guide to help novice traders save time and choose the best and most reliable forex broker in the market

Top 5 Forex Brokers For Beginners - With so many forex brokers popping up on the internet every day, it can be difficult to choose the best forex broker for you. Below is a guide to help novice traders save time and choose the best and most reliable forex broker in the market.



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OANDA is one of the trusted brands in forex trading, known for its high quality market research and excellent reputation. Founded in 1996, it has a strong organizational track record. 


Its features and wide range of CFDs make it the best forex broker, it is a safe broker to do CFD trading and forex trading. We offer amazing research and market analysis tools. 

Transaction costs are high and provide very efficient margins. OANDA Review is a trusted broker to keep your money safe.

Through numerous articles, research tools and podcasts, OANDA offers CFD and forex brokers everything they need to successfully navigate the market. With a confidence score of 92/99, the risks are very low. 

Although not listed, it is authorized and regulated by Tier 1 regulators such as ASIC, MAS, CFTC, IIIROC, JFSA, CFTC, and FCA. We offer a variety of products including Litecoin, CFDs, Ethereum, Bitcoin and Forex.

OANDA offers great educational content to help beginners learn. OANDA's educational webinars, tutorials, and educational videos help traders of all proficiencies. There is no minimum deposit required for active OANDA live accounts


XTB is a trusted, award-winning and widely recognized CFD platform that supports Forex, Cryptocurrencies, Commodities, Indices, CFDs on ETFs and Stocks. XTB supports 48 currency pairs with cheap spreads. 

It offers leverage of up to 200:1. It consists of a free demo account and a series of trading academy courses for intermediate and novice traders.

Strong points

There are two great trading platforms to choose from: MT4 and xStation.

Low margins.

An amazing collection of over 3,000 trading instruments across 6 asset classes.


24/7 support is not available.

some foreign currency pairs.


BD Switzerland

BDSwiss is another forex broker established in 2012 that offers a number of trading accounts that are regulated under the Cyprus Securities and Exchange Commission and the Mauritius Financial Services Commission. Users can trade over 250 CFD instruments including indices, cryptocurrencies, forex, and stocks. Users can easily trade with three types of accounts such as Raw, VIP and Classic on the following trading platforms:

MetaTrader 4

BDSwiss mobile app

BDSwiss Web Trader

MetaTrader 5

We offer educational events such as educational webinars, live analysis, webinars, beginner and advanced courses in our trading academy.

Strong points

Enjoy trading without commissions.

multiple regulations.

Trade with MetaTrader 4 and MetaTrader 5.

Raw spreads available.


Beginners consider eToro the best platform. Its best feature is the ability to view and copy the strategies of other traders. It has an easy to use platform to help new traders get resources and education from the site.

Strong points:

It consists of a very innovative trading platform.

Highly regulated brokers such as ASIC, CySEC and FCA.

You can trade on a wide range of assets.

Margins are above average.


MetaTrader platform is not included.

FP market

FP market is a well-known broker that was established in 2005 and is regulated by ASIC (Australian Securities and Investments Commission). This is a group of companies that includes First Prudential Market Ltd, which is authorized and regulated by the Cyprus Securities and Exchange Commission. With this broker, you can trade over 10,000 financial instruments covering forex, commodities, metals, cryptocurrency CFDs, stocks, and indices. You can choose from a variety of accounts, including standard accounts and prime accounts for those using MetaTrader. I have a commission based Iress account

Strong points

Access to over 10,000 tradable financial instruments.

ASIC regulation.

DMA trading and ECN prices are available.

A wide range of trading tools and platforms are available.

Great educational tools and customer support.


For most novice traders, choosing from a large number of accounts and markets can be overwhelming.

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