10 years of helping traders like you become better.

Best Forex Brokers For New Traders

Did you know that there are over 1000+ forex brokers on the market? When you’re just starting out it can be hard to know what forex trading really is, and which are the best forex brokers for new traders. But don’t worry, we’re here to help!

Best Forex Brokers For New Traders

Here are our top brokers for great accounts, excellent trading conditions, and superb education.

Broker

Features

Broker Reviews

Visit

* 1:1000 leverage

* 210+ instruments

* $15 min. deposit

* Free education

* 1:1000 leverage

* 1200+ instruments

* $50 min. deposit

* Tight spreads

* 1:500 leverage
* 200+ Instruments
* Free trading tools

* 1:1000 leverage

* 950+ instruments

* Copy trading

* Low deposit
* 1:500 leverage
* Great bonuses

* 1:1000 leverage
* 1000+ instruments
* $10 min. deposit

* 1:1000 leverage
* 100+ Instruments
* Free education

* 1:500 leverage

* $100 min. deposit
* Crypto trading
* Welcomes EA & HFT

FP Markets

* 1:500 leverage

* 10,000+ instruments

* $200 min. deposit

* Ultra low latency

* 1:500 leverage

* $10 min. deposit

* 800+ instruments

* African Broker

*1:500 leverage
 *Low spreads
* Fast withdrawals

* 1:400 leverage
* 200+ instruments
* $5 min. deposit

* 1:500 leverage

* $100 min. deposit

* Free education

* Great support

* Crypto trading
* 1:500 leverage
* $5 min. deposit

* Great support

* 1:500 leverage

* $1 min. deposit
* Crypto deposits
* Fast registration

 1:500 leverage

* 300+ instruments

* $50 min. deposit

* Great education

* 1:500 leverage

* 80+ instruments

* $200 min. deposit

* Excellent support

* 1:1000 leverage

* 130+ instruments

* $5 min. deposit

* Raw spreads

* 1:500 leverage

* 1000+ instruments

* $200 min. deposit

* Crypto CFD trading

What Is Forex Trading?

Forex trading is the process of buying and selling (exchanging) currencies. The main aim of forex trading is to make a profit from the change in currency values.

What Is A Forex Broker?

A forex broker is a company that facilitates forex trading. They give you access to the forex market and they give you the technology you need to make forex trades. You open an account with a forex, deposit your trading capital, then use the forex broker’s trading platform to make your trades.

Is Forex Trading Safe?

Forex trading can be a great way to increase your monthly income and grow your wealth. That said, forex trading can be risky. It’s important to learn how to trade properly. It’s important to trade with a regulated, reputable forex broker.

How To Choose The Best Forex Broker

  • Regulation – Good forex brokers are licensed by at least one reputable regulatory body. Look for brokers that also offer additional client fund safety measures, such as segregated accounts and negative balance protection.
  • Trading Conditions – Good forex brokers will offer you the option to choose from a wide range of trading instruments. Look for brokers that also offer you the opportunity to trade with high leverage, low commissions, tight spreads.
  • Minimum Deposits – Good forex brokers will offer at least one low-cost account type. Look for brokers with multiple account options, a low minimum deposit, and a selection of quick, convenient payment methods.
  • Trading Tools – Good brokers will usually offer a small selection of free trading tools. Look for a broker that also offers access to more advanced tools, such as EAs and chart indicators, and that provides free daily market analysis.
  • Forex Education – Good forex brokers will make sure you have the educational resources you need to become a better online trader. Look for a broker that offers free access to trading courses, educational videos, and free guides.
  • Customer Support – Good forex brokers will be readily available and will do everything they can to offer good customer service. Look for a broker with a good online reputation and with a friendly, helpful customer support team.

For more information about the best forex brokers in Nigeria, take a look at our forex broker reviews.