Best Forex Brokers for Beginners

Filtered to brokers with a confirmed minimum deposit of $250 or less and a regulation score of at least 3.0 (meaning at least two independently-verifiable regulators, or one Tier-1 regulator), then ranked by overall score.

BrokerAvg. spreadPlatformsOverall score

01 AvaTrade EU-regulated (MiFID passporting) + FSA Seychelles No. SD033 · est. 2006 0.93 pips (EUR/USD) Proprietary (AvaTradeGO), MT4, MT5, DupliTrade, ZuluTrade 4.1 / 5 Read review Visit Broker

02 ThinkMarkets CySEC No. 215/13 + FCA No. 629628 + FSA Seychelles No. SD060 · est. 2010 1.1 pips (EUR/USD) MT4, MT5, TradingView, Proprietary (ThinkTrader) 4.01 / 5 Read review Visit Broker

03 Exness CySEC No. 178/12 + FCA-licensed (FRN unconfirmed) + FSA Seychelles No. SD025 · est. 2008 0.2 pips (EUR/USD) MT4, MT5, Proprietary (Exness Terminal) 3.97 / 5 Read review Visit Broker

04 CFI EU-regulated (MiFID passporting) + FCA No. 828955 + FSA Seychelles No. SD107 · est. 1998 0.4 pips (EUR/USD) MT5, cTrader, TradingView, Proprietary (CFI Trading App) 3.88 / 5 Read review Visit Broker

05 IG CySEC No. 309/16 + FCA No. 195355 · est. 1974 0.6 pips (EUR/USD) Proprietary, MT4, ProRealTime 3.81 / 5 Read review Visit Broker

06 Pepperstone CySEC No. 388/20 + FCA No. 684312 + FSA Seychelles-licensed (licence number unconfirmed) · est. 2010 1.1 pips (EUR/USD) MT4, MT5, cTrader, TradingView 3.75 / 5 Read review Visit Broker

07 HF Markets CySEC No. 183/12 + FCA No. 801701 + FSA Seychelles No. SD015 · est. 2010 1.2 pips (EUR/USD) MT4, MT5, Proprietary (HFM App) 3.73 / 5 Read review Visit Broker

08 FOREX.com CySEC No. 400/21 + FCA No. 446717 · est. 1999 1 pips (EUR/USD) Proprietary, MT4, MT5, TradingView 3.59 / 5 Read review Visit Broker

09 FP Markets CySEC No. 371/18 + FSA Seychelles No. SD130 · est. 2005 1 pips (EUR/USD) MT4, MT5, cTrader, TradingView 3.59 / 5 Read review Visit Broker

10 FXCM CySEC No. 392/20 + FCA No. 217689 · est. 1999 1.3 pips (EUR/USD) Trading Station (proprietary), MT4, ZuluTrade, NinjaTrader 3.54 / 5 Read review Visit Broker

11 Eightcap CySEC No. 246/14 + FCA No. 921296 + FSA Seychelles No. SD100 · est. 2009 1 pips (EUR/USD) MT4, MT5, TradingView 3.52 / 5 Read review Visit Broker

12 Admirals CySEC No. 201/13 + FCA No. 595450 + FSA Seychelles No. SD073 · est. 2001 0.8 pips (EUR/USD) MT4, MT5, TradingView, Proprietary (Admirals Platform) 3.51 / 5 Read review Visit Broker

13 Capital.com CySEC No. 319/17 + FCA No. 793714 · est. 2016 0.6 pips (EUR/USD) Proprietary, MT4, TradingView 3.5 / 5 Read review Visit Broker

14 Plus500 CySEC No. 250/14 + FCA No. 509909 + FSA Seychelles No. SD039 · est. 2008 1.3 pips (EUR/USD) WebTrader (proprietary) 3.49 / 5 Read review Visit Broker

15 ATFX CySEC No. 285/15 + FCA-licensed (FRN unconfirmed) + FSA Seychelles No. SD093 · est. 2017 1.2 pips (EUR/USD) MT4, MT5 3.49 / 5 Read review Visit Broker

Built from our disclosed nine-category methodology -- the same absolute rubric and the same scores shown on every individual review, filtered and sorted for this specific list rather than scored differently for it. See all best-broker lists.