The best Forex Broker to start with - List 2024

What is the best broker to start with? People who are just taking their first steps in the world of trading face this question. Looking at the number of offers Forex brokers and their diversity, it seems that the choice will be very difficult, but it is not so. Before making a decision, it is enough to select the most useful elements for a beginner investment adept. So here we go!

Are you starting to trade Forex? Focus on it!

You are entering a new environment, industry, terminology – practically everything is new to some degree. So you don't have your expectations and preferences yet, or you're basing it on where you heard something but don't fully understand it yet. Therefore, an independent, appropriate choice may turn out to be practically impossible.

What will be important for a beginner?

Below we present the most key features in terms of choosing a broker from the perspective of a novice investor.

• Low initial deposit – a small deposit is also a potentially small loss, i.e. less pain in the event of failure.
• Broker security – there is nothing worse than being alienated at the very beginning, so choose only reliable companies that do not hinder withdrawals, are regulated and have high-quality services.
• Ability to trade with a very small volume – mistakes are inevitable, and the fastest way to bankruptcy is to invest (too) large amounts. The best volume to start with is the smallest possible volume.
• A simple and friendly platform – at the beginning, each platform will be new to you, so it's best to start with the simpler ones and gradually move to more and more advanced ones (if you feel the need).
• Educational facilities – currently, brokers are strongly focused on high-quality education, which they offer their clients completely free of charge – it is worth using!

Are other elements such as the amount of commissions, spreads or the number of available instruments not important? Most certainly they are. However, in this case, they recede into the background, and the initial weeks and even months of trading are primarily learning, which should be done as efficiently as possible.

Start with a DEMO account but don't overdo it

There are different schools of thought when it comes to trading on a demo account. Some advise against, others encourage, and there are those who even forbid opening a real account before we start earning on the demo.

In our opinion, the best approach is to start the adventure with a demo account, which will be used primarily to get to know the platform, market mechanisms and regularly test new ideas for trading. You never have to give up the demo account - you can always run it in parallel with real investments. But sitting on a demo account for too long seems to be a mistake. Then the moment of switching to a real account can be very stressful or can even paralyze the decision-making process (fear of losing real money). In short: the demo is good but nothing teaches you like trading on real money (even small ones).

The best broker to start with - potentially good choices

You already know what to look for when choosing a broker. Below we present two proposals of offers that perfectly match the selection criterion 'beginner's broker'. In the case of both XTB and eToro, in addition to the possibility of trading microlots with a very small deposit, it is also possible buy stocks and ETFs without commission. In addition, an option to purchase the so-called fractional shares (e.g. 1/10 of the share value) - these are ideal learning conditions for novice investors!

The best broker to start with - List 2024

End	Cyprus	Poland
Min. Deposit	100$	none (recommended min.2000 PLN)
Regulation	CySEC	KNF
Min. Volume	10$ fractional shares	0.01 lot fractional shares
Platform	eToro platform	xStation
Education	Webinars, analyses, articles, copy trading, account interest rates	Webinars, seminars, e-books, analyses, account interest rates
CREATE AN ACCOUNT	DEMO	DEMO
	REAL	REAL

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. From 68% to 89% of retail investor accounts record monetary losses as a result of trading CFDs. Think about whether you understand how CFDs work and whether you can afford the high risk of losing your money.

XTB

XTB is the largest broker in Central and Eastern Europe. The brand has been present on the market since 2005 and has come a long way to become a leader in the region. The xStation platform by XTB is highly rated by traders for its intuitive use, functionality and reliability. This, combined with high-quality free educational materials and a very wide offer (nearly 6000 instruments), attracted a real sea of ​​​​investors. One of the key features of the offer is also the ability to buy shares and ETFs without commission up to a turnover of EUR 100 per month.

eToro

eToro is a brand recognized all over the world. Over 20 million customers who use this broker cannot be wrong. An extremely easy-to-use trading platform, access to a large number of assets (over 3000 instruments), as well as innovative solutions such as ready-made investment portfolios or copy trading (the ability to copy transactions concluded by other traders) is a unique combination that meets the needs of many investors. It is the icing on the cake option to buy shares without commission (other fees apply).

From zero to trader

The initial steps are never easy, so don't be discouraged by the first failures. Try to thoroughly explore the most important issues, understand the market, and then develop an effective strategy. Next, it's work on yourself, i.e. control of emotions, discipline and pursuit of set goals. look into our education departmentto broaden your horizons and deepen your knowledge of the world of investing.