Best Brokers For Beginners 2020

Best Brokers For Beginners

With so many online brokers to choose from, it can seem overwhelming especially for those who are new to trading online. The trading brokers review team aim to make it as quick and easy as possible for beginners to find a suitable trading broker and have thus compiled a list of the best brokers for beginners.

We have gone through hundreds of brokers with a fine-tooth comb to make sure they have everything that is required for new clients to get started trading online, making the process as seamless and enjoyable as possible.

Amongst the most important factors to consider when choosing the best brokers for beginners was the brokers regulation, trading platforms, trading fees, funding options, account types, educational materials, trading tools, asset classes, customer service and more.

AvaTrade is an award-winning trading broker that is regulated in 6 jurisdictions offering 250+ instruments across multiple markets & trading platforms for web, desktop & mobile devices. They have low fees, tight spreads & rapid trade execution speeds.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top 5 Brokers For Beginners 2020

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ASIC, BVI, CBI, FFAJ, FSA, FSCA

Min $100 Deposit

2006

1:400

Review Trade! Trade!
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2.

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF

Min $250 Deposit

1974

1:200

Review Trade! Trade!
Terms & conditions apply
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
3.

ASIC, FCA, DFSA, SCB, CySEC

Min $200 Deposit

2010

1:500

Review Trade! Trade!
Terms & conditions apply
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4.

ASIC, CySEC, IFSC

Min $5 Deposit

2009

1:880

Review Trade! Trade!
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
5.

ASIC

Min $200 Deposit

2007

1:500

Review Trade! Trade!
Terms & conditions apply
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

We have analysed, tested and reviewed hundreds of online brokers and based on our findings, we rated these as the best brokers for beginners. This is due to many reasons but primarily because they are considered well established within the online brokerage industry and have a range of investment products and services that caters especially for beginner traders. This includes an abundance of educational resources to assist clients along their trading journey. In addition, they are all regulated by top tier regulators and provide some of the best trading platforms for beginners to help make trading online as easy as possible.

AvaTrade

AvaTrade is an award-winning trading broker that is regulated in 6 jurisdictions offering 250+ instruments across multiple markets & trading platforms for web, desktop & mobile devices. They have low fees, tight spreads & rapid trade execution speeds.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IG

IG offer traders around the globe over 16,000+ markets including Forex & CFDs. They have a good selection of trading platforms, tools & educational resources. Spreads are tight, commission is low & execution speeds are fast. IG are also regulated in many countries including FCA, ASIC & NFA regulation.

Terms & conditions apply
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Pepperstone

Pepperstone is one of the largest trading brokers providing traders worldwide access to trade across all markets with cutting edge technology, low cost spreads, low-latency high speed execution and award-winning customer service.

Terms & conditions apply
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

XM Group

XM Group is a multi-award winning globally established and regulated trading broker with over 2.5m clients from 196 countries offering no-requotes, low spreads, fast execution and negative balance protection.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IC Markets

IC Markets is the world’s largest true ECN trading broker offering over 230 trading instruments across multiple markets on the most popular trading platforms, delivering low spreads and high liquidity for fast trade execution.

Terms & conditions apply
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What is a trading online?

When you are trading online, you are buying and selling instruments from various asset classes such as forex, stocks, indices, commodities, cryptocurrencies, precious metals and energies. You can analyse various markets using technical analysis (charting tools) and fundamental analysis (economic news calendar) and speculate on the direction the price of the selected instrument will move. If it moves in your favour, you can make profit whereas if it moves against you, you will make a loss. For more detailed information, please see our how to trade online guide.

What is an online broker?

When you trade online, you need an online broker who will process your buy and sell positions through to the markets. These brokers offer user-friendly trading platforms and charge a small fee for using their brokerage services. In addition to market access, they can also offer other services such as market analysis, social trading platforms, educational resources and managed accounts. Online brokers have made trading the markets easily accessible to anyone with an internet connection. Aspiring traders from all over the world can sign-up with a broker, download a trading platform and trade online within minutes. You can see a list of our best online brokers.

Best Brokers For Beginners: MetaTrader Trading Platform

Best Brokers For Beginners: MetaTrader Trading Platform

What is a trading platform?

A trading platform is used to analyse charts of various trading instruments and to place/manage trade positions. They will include a vast array of trading tools for conducting in-depth chart analysis across multiple timeframes and on different chart types. These tools include technical indicators, drawing objects and economic calendars. Trading platforms are available for desktop, web and mobile devices. You can see our best trading platforms for a more detailed guide.

Best trading platforms for beginners

It is important that a beginner trader has a trading platform they feel comfortable using, ideally one that has a quick learning curve and range of tutorials to help new users familiarise themselves with it. One of the most popular and best trading platforms for beginners is MetaTrader. The MetaTrader platform is used by millions of traders of all experience levels from around the world. It is well known for being user friendly and including a wide selection of trading tools to assist traders with all different trading strategies. It has a fully customisable intuitive interface and is simple enough for beginners whilst having enough advanced functionality to satisfy the more seasoned investor. MetaTrader is available as a desktop platform and mobile trading application for iOS and Android devices. It can also run directly in web browsers without needing to download or install any additional software. For more information, please see our best MetaTrader brokers.

What makes a good broker for beginners?

There are various factors to consider when looking for an online broker if you are a beginner to online trading. Some of the most important things will be that they keep things simple and offer guidance as you start your trading journey. They should be available to offer excellent support around the clock but also know when to take a step back if you are happy to get stuck in and learn to trade yourself. Ideally, they will provide one of the best trading platforms for beginners, MetaTrader. The broker should be regulated by a top tier regulator, have discounted brokerage fees and offer a range of asset classes. Educational materials such as trading guides, tutorial videos and webinars can be useful to help beginner traders increase their trading skills and knowledge. There should be trading accounts for beginners which allow them to start trading online with a suitable investment size and good trading conditions.

What to look for in the best brokers for beginners:

  • Offer the best trading platforms for beginners
  • Round the clock support
  • Selection of educational resources
  • Daily market analysis
  • Different asset classes for trading online
  • Additional trading tools
  • Discounted broker fees
  • Regulation from a top tier regulator
  • Beginner account types
  • Convenient account funding options

How much money do you need to trade online?

Most online brokers will require a minimum deposit to open a trading account with them and start trading online. This can vary from broker to broker but we believe the best brokers for beginners will have a suitable minimum deposit, which is usually between $100 – $500. Of course, you should only ever trade with what you feel comfortable with and never risk more than you can afford to lose. Nearly all brokers will offer free demo trading accounts which allow you to practice trading online with virtual funds. This can be a good way for beginner traders to try out the different trading platforms and test different trading strategies.

How do I start trading online?

If you would like to start trading online, you will need to first choose a trading broker that meets your needs and open a real or demo trading account with them. If you are new to online trading then you may wish to consider one of our best brokers for beginners listed on this page. Once you have opened a trading account with your broker of choice, you can then download their trading platforms and start trading online when you feel ready to do so. You may wish to read our guides on how to choose a trading broker and how to open a trading broker account for further information.

Need help choosing from the best brokers for beginners in 2020?

If you are still unsure which is the best broker for beginners then you can use our free online broker comparison tool to quickly compare brokers based on regulations, minimum deposit, leverage, spreads, commissions, funding options and more. You can also read our broker reviews and choose from our best brokers, best trading platforms, best copy trading platforms, best social trading platforms and best trading apps. If you would like to look for the best trading brokers in a particular country, we have pages dedicated to our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa and best brokers Canada.

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