19 Best Forex Brokers For Beginners in 2026

I’ve experienced many forex broker scams in the past, and some still exist. In addition, the internet is full of fake information. Therefore, finding a forex broker you can trust is not always easy. Also, you may be looking for certain features before deciding on a trading platform. I’ll share knowledge with you to help beginning and experienced traders looking for a new forex broker.

In the list I will share, you’ll find several forex brokers’ best features and flaws. This information will help you save time, money, and, most important — your nerves. Unfortunately, you may be dealing with a scam broker without knowing.

The first step in trading is avoiding a bad broker who will only frustrate you in the end. That’s why I made this unbiased, informative page to get you moving in the right direction.

Also, if you’re looking for a particular feature, you’ll learn which broker has what you need. The information is straightforward, and you’ll know if a forex broker fits you in less than a minute.

But, first, read each broker’s short description and consider the pros and cons in each category.

1. IQ Option

Product Range

FX options and CFDs in currency pairs, commodities, stocks, crypto, ETFs. A total of over 300 CFD assets and FX Options.

Trading Costs, Leverage, and Sizes

Withdrawals and Deposits

WebMoney, Skrill, Perfect Money, Netteller, Mpesa, AdvCash, VISA, and MasterCard are available.

However, not all deposit and withdrawal channels may be available in your country.

Therefore, IQ has customized some payment methods for different countries.

The platform has a minimum deposit of 20 euros and a minimum trading amount of $1.

However, if you want to try out trading, you can always start with a free demo account.

Customer support

24/7 customer support is available via live chat, email, and phone in multiple languages.

Reputation and Regulation

CySEC registration: IQ Option Europe Ltd., license number 247/14, IQ Option.

2. Alpari

Product Range

CFD on currency pairs, indices, commodities, and custom portfolios.

Trading Costs, Leverage, and Sizes

Alpari offers leverage up to 1:1000 depending on account type.

Leverage can be floating or fixed. ECN-type accounts have a commission of $3 per lot traded.

Withdrawals and Deposits

Generally accepted channels are FasaPay, TC Payment, Skrill, Neteller, Qiwi, Cryptocurrencies, TC Pay Wallet, WebMoney, Perfectmoney, Latin American solutions, Nganluong, GlobePay, Bank Wire, VISA, MasterCard, and Maestro.

Reputation and Regulation

Alpari International is an Exinity Limited brand holding a regulation license from the Financial Services Commission of Mauritius.

3. Raceoption

Customer support

Support is available via live chat, email, and phone in multiple languages.

Reputation and Regulation

The IFMRRC is a less recognized regulatory body compared to established financial authorities, raising concerns about investor protection. Additionally, the registration in the Marshall Islands raises further concern about the platform’s trustworthiness.

4. 365 trading

Product Range

TD365 offers Forex, Precious Metals, Cryptocurrencies, Commodities, Bonds, Indexes, and Stocks.

Trading Costs, Leverage, and Sizes

Trading with TD365 doesn’t involve commissions, even for stocks. Spreads are fixed and competitive but only on the Cloudtrade platform. Leverage is up to 1:200.

Withdrawals and Deposits

TD365 doesn’t have any other options except bank transfers and bank cards. You can only deposit once you send your ID/residence documents to TD365.

If there’re any costs related to funding, they’re not yet published.

Reputation and Regulation

According to Trade Nation, TD365 is a broker related to them, but it’s another company. TD365 uses the Bahamas Securities Commission license of Trade Nation, so I am not sure there is any regulation.

Also, TD365 does not have many client ratings, and that points to a small client base. However, trade Nation is regulated and offers the same trading features as TD365.

5. JustForex

JustMarkets is regulated in three jurisdictions and offers more than 200 tradable assets including forex, stocks, cryptocurrencies, commodities, and stock indices via contract for difference (CFDs).

Boasting a nearly flawless 4.8 out of 5 rating on TrustPilot based on customer reviews, it’s no surprise that they also just won the Best Broker Asia award as determined by Fintech Awards 2022. JustMarkets doesn’t provide services to residents of the US, UK, EU, Japan, Canada, or Australia. Let’s jump and see what JustMarkets has to offer you.

6. AvaTrade

Product Range

AvaTrade has a lot to offer when choosing tradeable CFD assets.

You can pick from forex, indices, stocks, bonds, precious metals, commodities, ETFs, cryptocurrencies, and forex options.

Trading Costs, Leverage, and Sizes

AvaTrade does not charge commissions.

The platform has allegedly fixed the spreads, but in some instances, AvaTrade states they can widen.

The leverage is up to 1:400 for clients outside the EU and some other countries.

Withdrawals and Deposits

Bank Wire, VISA, MasterCard, Boleto, DinPay, FasaPay, GCard, Neteller, PaySec, SafeCharge, Skrill, Tranzila, UnionPay, VeriTrans, VoguePay, and WebMoney are available.

The minimum deposit is $100.

Reputation and Regulation

AvaTrade is a popular broker with a large marketing budget and worldwide presence.

Several authorities regulate it.

However, you’ll have to check the company to agree to their terms.

The AvaTrade website publishes all the licenses.

However, clients mostly complain about withdrawals, especially from profitable accounts.

7. Forex Club

Product Range

The categories included are currency pairs, precious metals, commodities, indices, stocks, ETFs, and cryptocurrencies.

The total tradeable asset count is over 250.

Trading Costs, Leverage, and Sizes

You’ll have slightly different trading conditions with each platform.

The commission isn’t fixed and can change from $0 to other amounts.

For example, crypto has a 1% commission.

Leverage is also variable from 1:20 to 1:999, depending on the asset.

Spreads are variable, from 0 pips. Stop Out is at 20%.

Withdrawals and Deposits

Channels available are bank cards, Bitcoin, Tether USDT, Skrill, Neteller, Jeton Wallet, Webmoney, VLOAD, and wire transfers.

In addition, there are some small fees with e-wallets.

The withdrawal channels are Bitcoin, USDT, and wire transfer.

The minimum deposit amount is $10.

Unfortunately, not all channels are compatible with certain countries, even if listed.

Reputation and Regulation

Forex Club has been fined several times to date.

Also, the brokers’ group doesn’t operate in several countries.

In addition, clients’ ratings from independent sources are negative.

8. Xm.com

XM is highly regulated, overseen by three regulatory agencies. It serves five million clients in over 190 countries and provides support in more than 25 languages. It doesn’t provide services to the residents of the USA.

9. Libertex

Product Range

Libertex has over 250 CFD products. It has categories ranging from Forex currency pairs, precious commodity metals, Commodities, Stocks, ETFs, Options CFD, and Cryptocurrencies. Unfortunately, Crypto isn’t available to certain countries.

Trading Costs, Leverage, and Sizes
Trading commissions start from €0 to €7 (depending on assets) per lot traded in Metatrader platforms, while the Libertex platform may have a variable fee expressed in percentage.

Cryptocurrencies have 0.4% commission. Spread is a dynamic type. Stop Out is at a 50% margin level.

Withdrawals and Deposits

Bank transfer, Bank cards, Skrill (1,9% fee), Sofort ( for Germany, Spain, Italy, Austria), Ideal (Netherlands), GiroPay (Germany), Trustly, P24 (Poland), Rapid, Netteler, Multibanko. Withdrawal options are limited to Bank transfers.

Reputation and Regulation

Libertex is a large forex broker with some history. It’s relatively popular but does not have many client ratings.

The company was fined €160,000 for inappropriate margin stop out and leverage limits in 2020. In Addition, Libertex has some problems with clone websites that tarnish its reputation.

10. IG.com

You’ll find almost every tradeable asset from indices, forex, shares, ETFs, commodities, cryptocurrencies, digital 100s (not available for retail traders), options, interest rates, sectors (industry), bonds, spread betting, and CFDs.

Trading Costs, Leverage, and Sizes

Spreads are floating, and commissions are paid only for shares trading, from 0.08% to 0.18% per side.

Trading sizes are standard – 0.01 lots minimum but with increased stop levels.

Leverage starts at 1:200. Stop Out is 50%, and Margin Call is 100%.

Withdrawals and Deposits

The minimum deposit is $300 for bank cards and no minimum for wire transfers.

Deposit and withdrawal channels are bank wire, VISA, MasterCard, and PayPal.

IG.com also has a minimum withdrawal amount of $150 for cards unless you have less on your account.

Reputation and Regulation

There are no potent regulators who regulate the IG.com domain.

Instead, the Bermuda Monetary Authority has licensed IG International Limited.

Other domains for the specific country have different regulators.

IG.com forex broker doesn’t have the best reputation among clients.

Complaints are various, including trading problems, support, and documentation.

11. Grand Capital

Product Range

You can trade forex, commodities, stocks, indices, ETFs, cryptocurrencies, futures, and bonds.

Trading Costs, Leverage, and Sizes

Trading sizes are standard from 0.01 lots. Micro account currency is cent value allowing small value trading.

The leverage of the Standard Account is up to 1:500. Spreads are dynamic for all accounts.

For example, ECN, MT5, and Crypto accounts have spread from 0.4 pips, while Standard has one pip.

Commissions exist for all accounts except for Micro.

Withdrawals and Deposits

You can deposit BTC, ETH, and USDT from crypto.

Other funding channels are Bank Transfers, Astropay, FasaPay, Help2Pay, M-PESA, Neteller Ngan Luong, PayRetailers, PayTrust, Paylivre, Perfect Money, Skrill, Thunder X, Vload, and Webmoney.

The minimum deposit starts from $10 for Micro accounts to $500 for ECN Prime.

Reputation and Regulation

Grand Capital doesn’t have a lot of positive feedback from the clients.

However, I can’t be sure if the broker is at fault for every bad rating.

The reason is scam traders often pretend to be affiliates of Grand Capital.

Grand Capital isn’t fully regulated, but it doesn’t mean this broker is problematic.

For example, you can test small withdrawals before significant investments.

12. Trade.com

Product Range

The primary benefit of Trade.com is the vast number of tradeable assets.

You can trade forex, stocks, ETFs, indices, crypto, bonds, commodities, and precious metals.

Choose another area if you want to sell on the DMA market (with over 100,000 assets), IPO, Spread Betting, or customized asset management.

Trading Costs, Leverage, and Sizes

Spreads are dynamic (officially) but behave like fixed spreads on my MT4.

Commissions are only applied to stocks, up to 0.20% per lot for Silver Account.

There’s also a minimum fee of $10 per trade for stocks. Stop Out is at 50%.

Withdrawals and Deposits

Available channels are Bank Cards, Skrill, Paypal, and Neteller.

In addition, you might also have EPS, Giropay, iDEAL, Multibanco, Neteller, Przelewy24, SafeCharge, Trustly, and SafetyPay.

Reputation and Regulation

The Markets.com brand was fined multiple times before it changed to Trade.com.

Then, Trade Capital Markets took it over.

Trade.com retained the assets range Market.com had, but the trading conditions are different.

TCM holds licenses from CySEC, FSCA, and FCA for UK clients.

13. Forex.com

Product Range

Cryptocurrencies are only available on the Forex.com and MT5 platform.

Forex.com offers over 4500 assets in forex, indices, commodities, precious metals, and cryptocurrencies.

Trading Costs, Leverage, and Sizes

Depending on the account type, you may be charged commissions.

For example, the commission account charges $5 per lot traded on forex CFD and shares.

Leverage can be up to 1:200. Trade sizes are not standard.

Withdrawals and Deposits

You can deposit with Skrill, Neteller, wire transfer, and bank cards.

For withdrawals, you can only select bank cards or wire transfers.

The minimum deposit is $100.

The minimum withdrawal amount is $100 unless you want to close your trading account.

Reputation and Regulation

Forex.com is an old broker with a robust global presence and regulation.

Forex brokers with that asset range are few.

Forex.com offers a wide range of assets.

Trading conditions are also not the best.

14. Easy Markets

Product Range

Registering under the BVI FSC regulator will give you a full range of assets and leverage.

Easy Markets has forex, precious metals, indices, stocks, commodities, and cryptocurrencies.

Easy Markets also features options trading.

Trading Costs, Leverage, and Sizes

Easy Market has fixed spreads and no commissions.

Spreads start from 0.9 pips on VIP Accounts to 2 pips for Standard Accounts on EUR/USD pair.

Leverage is up to 1:200 on the Easy Markets platform and 1:400 for MT4.

Withdrawals and Deposits

Depending on your country, withdrawal and deposit channels may differ. The broker has no withdrawal fees.

Available channels are bank wire, bank cards, AstroPay, BPAY, FasaPay, Giropay, iDEAL, JCB, SOFORTNeteller, Skrill, UnionPay, WebMoney, WeChatPay, Sticpay, Bitwallet, and Perfect Money.

The minimum deposit for the Standard tier is $25, Premium is $2,000, and VIP is $10,000.

Reputation and Regulation

Easy Markets holds multiple regulation licenses that you can check.

Advanced traders may like fixed spreads and many markets to trade.

In terms of reputation, Easy Markets has good ratings on some websites, although I welcome client reviews.

Unfortunately, independent ratings are not that good.

Clients mostly complain about profit withdrawals, high trading costs, and conflict of interest.

15. ThinkMarkets

Product Range

You can trade in currency pairs, commodities, precious metals, stocks, indexes, futures, or cryptocurrencies.

Also, you might be interested in spot gold and silver mini contracts that allow trading smaller amounts.

Trading Costs, Leverage, and Sizes

From my testing, the spread was more than one pip on average.

For example, the bitcoin spread is $25 per lot.

ThinkMarkets also has mini contracts for gold and silver, meaning one lot is 10 ounces of gold, not 100.

For other assets, it starts from 0.01 lots.

Low-value cryptos do not have increased contracts, so you can trade smaller amounts.

Leverage is up to 1:500. Stop Out is at 50%.

Withdrawals and Deposits

ThinkMarkets supports only two deposit and withdrawal options for Australian regulated clients – POLi and bank wire.

Unregulated broker business allows bank cards, bank wire, Neteller, Skrill, and Cryptocurrencies.

The minimum deposit for the ThinkZero Account is $500, while the Standard Account has no minimum.

In addition, bank wire withdrawal has a fee of $25 and a $100 minimum.

Reputation and Regulation

ThinkMarkets has several entities, each with a different registration location. The broker is marketing three regulations FCA, FSCA, and ASIC.

16. AAATrade

AAATrade is a Cyprus-based broker that provides access to shares, as well as CFDs in stocks, forex, crypto, indices, and commodities. The broker is regulated and there is no minimum deposit amount, which means you can start trading with any amount you wish.

17. Saxo bank

Product Range

If we focus only on CFD instruments, Saxo bank offers over 9000 assets.

For CFD trading, you will have stocks, ETFs, indices, forex, bonds, commodities, index options, and precious metals.

In addition, cryptocurrencies are traded over ETPs and under the forex category.

Trading Costs, Leverage, and Sizes

Saxo Bank charges commissions and has variable spreads.

Dividends also apply to stocks. Contract sizes are not standard, but for the CFD category are smaller.

For example, oil has 25 units per contract, cold only 1 ounce.

Bitcoin has a 0.01 unit minimum trade size.

Withdrawals and Deposits

Saxo Bank offers only bank transfers and card deposits.

Some investors might also be interested in portfolio transfers (stocks, bonds, and ETPs).

Withdrawals are made via platform or by filling out a form. Only a bank transfer is available.

Reputation and Regulation

Saxo Bank is a heavily regulated and known retail broker.

Yet, similarly to other substantial brokers with a long history, it doesn’t pay attention to client support.

Based on client reviews, I’ve concluded that the most problems traders face are: poor support, unwanted phone calls, conflict of interest, and connection problems.

18. Swissquote

Product Range

Swissquote offers the ultimate product range.

If you’re interested in CFDs, you’ll find 200 instruments.

Categories covered are forex, forex options, stocks, commodities, bonds, precious metals, and indices.

In addition, crypto is available but only through the eTrading platform, without any leverage or shorting.

Trading Costs, Leverage, and Sizes

The minimum trading size is 0.01 lots, and Swissquote has standard contract sizes.

Prime Account offers about 60% better spreads than the Standard Account.

The leverage is up to 1:100, but Swissquotes can adjust this.

All accounts have a 30% Stop Out level.

Withdrawals and Deposits

Swissquote’s only funding options are bank transfers and bank cards.

The broker will not work with banks lower than AA grade.

The good news is they don’t charge any fees for withdrawals/deposits.

Reputation and Regulation

Swissquote is regulated and one of the most secure banks.

It’s also long in the retail forex business.

However, weak customer support could be a significant concern for ordinary traders.

Among independent rating websites, Swissquote holds poor ratings.

Consider other brokers if you’re not interested in investing significant capital for trading.

19. LiteForex

Product Range

LiteForex offers CFDs on precious metals, currency pairs, indices, stocks, and oil.

Overall, the broker has an average product range compared to other brokers but is better in some categories.

Trading Costs, Leverage, and Sizes

LiteForex charges commissions for the ECN-type account. Leverage is at 1:500; for Crypto, it’s 1:10.

LiteForex puts low Stop Out and Margin Call levels at 100% and 20%, respectively.

Minimal trading sizes are standard 0.01 lots.

Withdrawals and Deposits

Deposit channels are bank cards, AdvCash, WebMoney, Perfect Money, QIWI, and several cryptocurrencies.

The minimum deposit to open an account is $50.

Withdrawal options are AdvCash, Alipay, Bank Transfer, bank cards, China UnionPay, QIWI, Perfect Money, WebMoney, and several cryptocurrencies.

Reputation and Regulation

LiteForex.com is not regulated.

Libertex.EU domain is only for EU countries and is regulated by CySEC.

Interestingly, both domains have similar ratings and similar problem reports.

Clients mostly complain about withdrawals and trading.

Still, LiteForex has a medium rating overall because it has a long history and solid presence worldwide.

*General Risk Warning: Your capital might be at risk

Conclusion

You’ll face a scam broker if you blindly search the internet. To spot them, I’ll give you a few general guiding points.

Things to consider

• Regulation. Scam brokers don’t have information about regulation laws. Also, regulated brokers can use various excuses to hold your funds.
• Ratings. Even if a broker is regulated, it doesn’t mean your funds are safe. Regulators are slow. A broker can claim your trading isn’t according to terms and cancel any profits you made. Therefore, you need to read the ratings from independent websites.
• Reviews. Many scams buy a lot of forex broker reviews. Also, scams have a network of fake review sites. This way, they push their fake reviews up in google search lists. Broker scams can have very high budgets and even involve government officials. Read only forums and independent ratings.
• Do your research. Check every broker with reliable sources and seek news headlines for the broker name or domain. You’ll likely find they are penalized or blocked.

In addition, you should ask the brokers about regulation and their actual location.

Then check the location and check whether the license is published.

Again, check the ratings. You’ll notice that most scammers can’t cover their tracks completely.

If you take the above precautions before trading with any platform, your capital will be safe.