| Broker | Features | More Details |
|---|---|---|
  FeaturedGo to XTB | Excellent 24-hour customer service. More than 3000 instruments to trade. Free webinars.(*) Warning: Your capital is at risk. 77% of retail CFD accounts lose money. Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: xStation5, iOS App, Android App. Execution: Market Maker / STP Regulation:  FCA, CNMV and IFSCWeb Page: https:/www.xtb.com | Broker: XTB Headquarters: London, United Kingdom Broker Type: Forex and CFDs Broker Trading Instruments: More than 3000 instruments such as CFDs on Forex, crypto-currencies, commodities, indices and stocks. In Europe spot stocks and ETFs. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Paypal, Skrill (MoneyBookers), Neteller |
 FeaturedGo to Pepperstone | Spreads from 0 pips. Ultra fast execution (less than 30 milliseconds). Perfect for scalping and automatic trading. Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: STP / ECN Regulation: FCA, ASIC, CySEC, DFSA, CMA and SCBWeb Page: https://www.pepperstone.com | Broker: Pepperstone Headquarters: London, United Kingdom Broker Type: Forex and CFDs Broker Trading Instruments: Wide range of Forex currencies with more than 180 pairs, crypto currencies, commodities, gold, silver, oil, a selection of American stocks, indices,... Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 FeaturedGo to eToro | World leader in social trading. You can copy the best investors automatically.(*) Warning: 67% of retail CFD accounts lose money. Demo Account: Yes, unlimited Minimum Deposit: 200 $ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: FCA, CySEC and ASICWeb Page: https://www.etoro.com | Broker: eToro Headquarters: Limassol, Cyprus Broker Type: Forex Broker, CFDs Broker and Social Trading Trading Instruments: Wide range of crypto currencies (more than 90 available), ETFs, shares of companies from different sectors and countries, raw materials (such as Gold, Silver, Oil), main stock exchange indexes (Spain, United States, Germany, France, United Kingdom, Switzerland,...) and more than 45 currency pairs in the Forex market. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Paypal, Neteller, Klarna |
 Go to XM Group | Bonus of $30 without deposit and bonuses of up to $5,000 per deposit.(*) Clients registered with XM Group's EU-regulated entity do not have access to the bonds. Demo Account: Yes, unlimited Minimum Deposit: 5 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker Regulation: CySEC, IFSC and ASICWeb Page: https://www.xm.com | Broker: XM Headquarters: Limassol (Cyprus), Sydney (Australia) and Belize. Broker Type: Forex and CFDs Broker Trading Instruments: Over 1000 financial instruments such as major currency pairs in the Forex market (over 55 pairs available) and CFDs on a wide range of stocks, commodities, indices, precious metals and energies such as oil (Brent and WTI). Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to AvaTrade | 5 international regulations. 4 trading platforms to choose. Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, iOS App, Android App. Execution: Market Maker Regulation: Central Bank of Ireland, ASIC, BVI, FSCA and FSAWeb Page: www.avatrade.com | Broker: AvaTrade Headquarters: Dublin, Ireland Broker Type: Forex and CFDs Broker Trading Instruments: Forex market with more than 50 currency pairs Crypto-currencies such as Bitcoin, Ethereum,... CFDs on indices from more than 20 countries. Commodities. More than 100 popular shares of companies listed on the NYSE, NASDAQ, DAX, IBEX and many more. ETFs. Government bonds from the US, Japan and European countries. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller, Klarna |
 Go to IQ Option | Very intuitive app with more than 10 million downloads. 7 free deposit methods with no fees. Demo Account: Yes, unlimited Minimum Deposit: 10 €/$ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: CySECWeb Page: https://www.iqoption.com | Broker: IQ Option Headquarters: Limassol, Cyprus Broker Type: Forex and CFDs Broker Trading Instruments: Major currency pairs in the Forex market (over 45 crosses), crypto-currencies, CFDs on shares of large international companies, commodities and ETFs. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, WebMoney, Skrill (MoneyBookers), Neteller, Klarna |
 Go to IC Markets | Spreads from 0 pips. Real interbank liquidity (up to 50 sources). Perfect for high volumes, scalping and robots. Demo Account: Yes, unlimited Minimum Deposit: 200 $ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: ECN Regulation: ASIC, CySEC and FSAWeb Page: https://www.icmarkets.com | Broker: IC Markets Headquarters: Australia Broker Type: Forex and CFDs Broker Trading Instruments: 60 Forex currency pairs. Crypto-currencies. CFDs on 17 stock indices, commodities and shares. Futures. Bonds issued by governments around the world. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller, Paypal, Klarna, Bitcoin |
 Go to RoboForex | Demo Account: Yes, unlimited Minimum Deposit: 0 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, cTrader, iOS App, Android App. Execution: STP / ECN Regulation: IFSCWeb Page: https://www.roboforex.com | Broker: RoboForex Headquarters: Belize Broker Type: Forex Broker Trading Instruments: 36 Forex currency pairs, crypto-currencies, CFDs on US stocks, indices, metals, oil. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller, WebMoney, Perfect Money, Bitcoin, Ethereum |
 Go to FP Markets | Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, IRESS. Execution: ECN Regulation: ASIC and CySECWeb Page: https://www.fpmarkets.com | Broker: FP Markets Headquarters: Sidney, Australia Broker Type: Forex and CFDs Broker Trading Instruments: Over 50 most popular Forex currency pairs and CFD on shares, stock indices, metals, commodities, energies and crypto-currencies. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Paypal, Skrill (MoneyBookers), Neteller, FasaPay |
 Go to OANDA | Demo Account: Yes, unlimited Minimum Deposit: 0 $ Trading Platforms: MetaTrader 4. Execution: Market Maker Regulation: FSCWeb Page: https://www.oanda.com | Broker: OANDA Headquarters: Toronto, Canada Broker Type: Forex and CFDs Broker Trading Instruments: More than 120 instruments: Major Forex currency pairs, indices, gold, silver and commodities. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to Libertex | (*) Warning: 83% of retail CFD accounts lose money. Demo Account: Yes, unlimited Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, WebTrader, iOS App, Android App. Execution: Market Maker Regulation: CySECWeb Page: https://www.libertex.com | Broker: Libertex Headquarters: Limassol, Cyprus Broker Type: Forex and CFDs Broker Trading Instruments: More than 50 currency pairs in the Forex market, main world stock exchange indexes (from the United States, Europe, Asia, the Middle East and Latin America), more than 100 shares of large companies worldwide and other instruments such as crypto currencies, oil, gas, gold, silver, copper, platinum, agricultural commodities,... Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to Axi | Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: MetaTrader 4. Execution: Market Maker Regulation: FCA, ASIC, FSA and DFSAWeb Page: https://www.axi.com | Broker: Axi Headquarters: Sydney, Australia Broker Type: Forex and CFDs Broker Trading Instruments: More than 140 instruments: Forex currency pairs, crypto currencies, CFDs on commodities, gold and silver, oil, indices,... Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to OctaFX | Demo Account: Yes, unlimited Minimum Deposit: 5 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: STP / ECN Regulation: FSAWeb Page: https://www.octafx.com | Broker: OctaFX Headquarters: Saint Vincent and the Grenadines Broker Type: Forex Broker Trading Instruments: 28 Forex currency pairs, crypto currencies, gold and silver, CFDs on stock indices and shares. Payment Methods for Deposits and Withdrawals: Perfect Money, Bitcoin |
 Go to Exness | Demo Account: Yes Minimum Deposit: 0 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker / ECN Regulation: FCA, CySEC and FSAWeb Page: https://www.exness.com | Broker: EXNESS Headquarters: Seychelles Broker Type: Forex Broker Trading Instruments: More than 35 currency pairs in the Forex market. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
What are the best brokers for beginners?
A beginner trader is characterised by the fact that he or she has just started to acquire the necessary knowledge to carry out a short-term investment operation, but lacks the necessary experience, both in terms of dealing with the financial markets and in terms of the issues involved in contracting an online broker.
There are a number of details to consider when choosing an online broker to invest in the stock market. Most brokers offer different investment platforms, financial instruments, trading conditions and account types. All of these aspects may be suitable for a certain profile of trader, however, they may not be suitable for others.
If you are a beginner trader and want to learn how to invest in the stock market, we recommend that you consider the following factors when choosing a broker:
Simple investment platform:
The trading platform is the fundamental tool for all your trading. It is the software that will allow you to execute all your trades, make decisions and develop your investment strategy. It is therefore essential that, at least at the beginning, you use a platform that is as simple and intuitive as possible. As you become more knowledgeable, you will be able to opt for more complete platforms with greater functionalities.
Many brokers offer their own platforms, with the basic tools you will need, which are a good way to start developing your trading. Others choose to offer MetaTrader 4 or Metatrader 5 as their trading platform. Metatrader is a very comprehensive, powerful tool; it is one of the most widely used platforms in the world. Some people adapt well to Metatrader right from the start and get more out of it as they get more experience, others find it easier to learn with simpler platforms. All this will depend on your profile; the best thing to do is to try the broker’s platform first and then decide which one you are better able to use.
Free demo account:
Most brokers offer the possibility to open a demo account, with the same functionalities as a real account, but with fictitious money. A demo account is a good tool (and opportunity) to learn how to invest and familiarise yourself with the trading platform. In this way, you can test the platform, the markets and the conditions offered by the broker without putting your money at risk.
It is recommended that the demo account has no time limitation or, alternatively, is available for at least a reasonable period of time. However, we recommend that you use the demo account only to familiarise yourself with the trading platform: most people tend to start with the demo account, starting to trade without too much control over money and risk, without pressure or fear of losing. This is not the best way to learn. Ideally, once you get a feel for the platform and trading in general, you should move to a live account with little money and make small trades very cautiously. In this way, you will learn to be disciplined, to analyse trades carefully and to develop your own trading method.
In any case, hiring online brokers with free demo account is an element to consider if you are a beginner trader.
Small initial deposit:
It is advisable that the broker you choose allows you to start with a small initial deposit. Nowadays most brokers give you the possibility to open an account with a deposit of €100 (or even less). This way, you can start with small amounts and learn how to invest without putting all your capital at risk.
It makes sense to think of trading as a business you are learning about. It is not advisable to invest large amounts of money initially, until you know yourself as a trader, know the markets and define a good trading strategy. For this, it is necessary that the online broker allows you to open a trading account with a small amount of money.
Versatility of investment instruments:
As a beginner, it is normal that you do not know well which financial assets are the most suitable for your style. You have to decide in which instruments to invest. That is why it is best to have a versatile broker, able to offer you a reasonable number of investment instruments: currency pairs on the Forex market, shares, commodities, indices, etc.
This way you can try out different investment instruments and see what suits you best. Not all traders perform equally well in the same market. It is a subjective matter: it depends largely on the trader’s character, the strategy to be followed and the type of trading he/she carries out (scalping, swing, etc.).
Training:
Nowadays, most online brokers offer free and quite complete training to their clients: from online seminars, ebooks, videos, investment strategies, news, etc. It is a good way to acquire the basic knowledge you need.
If you are a beginner trader, these additional services can be very useful. Check the conditions offered by your online broker to see if there is an educational element.
Regulated broker:
It is essential that the broker you chooseis regulated by an important body, such as the Financial Conduct Authority (FCA) in the UK, the Comisión Nacional del Mercado de Valores (CNMV) in Spain, the Cyprus Securities and Exchange Commission (CySEC), the German Federal Financial Supervisory Authority (BaFIN), etc.
Regulated brokers are subject to supervision by supervisory bodies and to compliance with a series of investor protection and transparency directives, so it is important that the boker in which you are going to deposit your money and which is going to execute your operations is reliable and offers maximum guarantees. It is advisable that it is a regulated broker as opposed to others that are not supervised and may not be transparent or misleading, especially if you are starting to operate in the financial markets.
Having tested and analysed numerous online brokers, the ones you can see in the table above are what we consider to be the best brokers for beginners.
References and sources:
- How to Choose Your First Online Brokerage
- How to Open a Forex Trading Account
- Forex Trading For Beginners
- 10 Day Trading Strategies for Beginners
