4 Best Forex Trading Platforms for Newbies - Learn to Trade
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4 Best Forex Trading Platforms for Newbies

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Ali Qamar

Updated:

Best Platforms for Newbies in the Forex Market

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It is possible to make a passive income as a beginner in the forex market, but you need to go through a series of training, which usually takes about 18 months. During that time frame, you need consistent coaching, mentoring, and practice.

 

Sort By

4 Providers that match your filters

Payment methods

Trading platforms

Regulated by

Support

Min.Deposit

$ 1

Leverage max

1

Currency Pairs

1+

Classification

1or more

Mobile App

1or more
Recommended

Rating

Total cost

$ 0 Commission 3.5

Mobile App
10/10

Min.Deposit

$100

Spread min.

Variables pips

Leverage max

100

Currency Pairs

40

Trading platforms

Demo
Webtrader
Mt4
MT5

Funding Methods

Bank Transfer Credit Card Giropay Neteller Paypal Sepa Transfer Skrill

Regulated by

FCA

What you can trade

Forex

Indices

Actions

Cryptocurrencies

Raw Materials

Average spread

EUR/GBP

-

EUR/USD

-

EUR/JPY

0.3

EUR/CHF

0.2

GBP/USD

0.0

GBP/JPY

0.1

GBP/CHF

0.3

USD/JPY

0.0

USD/CHF

0.2

CHF/JPY

0.3

Additional Fee

Continuous rate

Variables

Conversión

Variables pips

Regulation

Yes

FCA

No

CYSEC

No

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

No

CBFSAI

No

BVIFSC

No

FSCA

No

FSA

No

FFAJ

No

ADGM

No

FRSA

71% of retail investor accounts lose money when trading CFDs with this provider.

Rating

Total cost

$ 0 Commission 0

Mobile App
10/10

Min.Deposit

$100

Spread min.

- pips

Leverage max

400

Currency Pairs

50

Trading platforms

Demo
Webtrader
Mt4
MT5
Avasocial
Ava Options

Funding Methods

Bank Transfer Credit Card Neteller Skrill

Regulated by

CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA

What you can trade

Forex

Indices

Actions

Cryptocurrencies

Raw Materials

Etfs

Average spread

EUR/GBP

1

EUR/USD

0.9

EUR/JPY

1

EUR/CHF

1

GBP/USD

1

GBP/JPY

1

GBP/CHF

1

USD/JPY

1

USD/CHF

1

CHF/JPY

1

Additional Fee

Continuous rate

-

Conversión

- pips

Regulation

No

FCA

Yes

CYSEC

Yes

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

Yes

CBFSAI

Yes

BVIFSC

Yes

FSCA

Yes

FSA

Yes

FFAJ

Yes

ADGM

Yes

FRSA

71% of retail investor accounts lose money when trading CFDs with this provider.

Rating

Total cost

$ 0 Commission 6.00

Mobile App
7/10

Min.Deposit

$10

Spread min.

- pips

Leverage max

10

Currency Pairs

60

Trading platforms

Demo
Webtrader
Mt4

Funding Methods

Credit Card

What you can trade

Forex

Indices

Cryptocurrencies

Average spread

EUR/GBP

1

EUR/USD

1

EUR/JPY

1

EUR/CHF

1

GBP/USD

1

GBP/JPY

1

GBP/CHF

1

USD/JPY

1

USD/CHF

1

CHF/JPY

1

Additional Fee

Continuous rate

-

Conversión

- pips

Regulation

No

FCA

No

CYSEC

No

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

No

CBFSAI

No

BVIFSC

No

FSCA

No

FSA

No

FFAJ

No

ADGM

No

FRSA

Your capital is at risk.

Rating

Total cost

$ 0 Commission 0.1

Mobile App
10/10

Min.Deposit

$50

Spread min.

- pips

Leverage max

500

Currency Pairs

40

Trading platforms

Demo
Webtrader
Mt4
STP/DMA
MT5

Funding Methods

Bank Transfer Credit Card Neteller Skrill

What you can trade

Forex

Indices

Actions

Raw Materials

Average spread

EUR/GBP

-

EUR/USD

-

EUR/JPY

-

EUR/CHF

-

GBP/USD

-

GBP/JPY

-

GBP/CHF

-

USD/JPY

-

USD/CHF

-

CHF/JPY

-

Additional Fee

Continuous rate

-

Conversión

- pips

Regulation

No

FCA

No

CYSEC

No

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

No

CBFSAI

No

BVIFSC

No

FSCA

No

FSA

No

FFAJ

No

ADGM

No

FRSA

71% of retail investor accounts lose money when trading CFDs with this provider.

 

Also, you will have to make use of a demo account before moving to a live account. You will also need to study different materials in trader psychology and the actual trading process itself.

A lot of trading must be done as a newbie in the forex market, but then (again), you need the best forex trading platform to perform your trades. That’s why this article explains the best forex trading platforms for beginners.

The best forex trading platforms for newbies

  • Meta Trader 4

Most retail forex brokerages make use of the Meta Trader 4 platform. It essential to know that if you want to go into real trading money, then you need the MT4 platform to learn the rudiments of the forex market.

The MT4 platform also allows you to trade live. The platform also offers distinct features for beginners such as easy reading for newbies to master the graphical tools and illustrations, terminal window with tabs plus a new bar to get the latest information, and a user-friendly interface.

MT4 should be the first platform you should use as a beginner, and you can download the mobile app on the Google Play store for android phones, and App Store for iOS-based devices.

  • cTrader

The cTrader presents newbies in the forex market to ECN trading conditions. Spotware Systems created the platform. You can also make lots of exits on a forex position, and view the market complexity through its order books.

cTrader is user-friendly; you can quickly deposit and withdraw your money instantly. The platform has a desktop and web-based version. It also has the “cTrader Copy,” which allows beginners to copy the trades of famous traders.

  • eToro Social Trading

One of the best trading platforms in forex in the eToro Social Trading platform. It is well-suited for beginners that want to be a good trader in the future. The platform is straightforward to use, and it has a web-based feature that quickly loads with no delay.

Subsequently, a new trader has the opportunity to make up a watchlist and copy trades from successful traders on the same platform. When considering a successful trader in the platform, you need to have a look at the Risk score, which is a very vital metric to note.

 

AvaTrade - Established Broker With Commission-Free Trades

Our Rating

  • Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
  • Awarded Best Global MT4 Forex Broker
  • Pay 0% on all CFD instruments
  • Thousands of CFD assets to trade
  • Leverage facilities available
  • Instantly deposit funds with a debit/credit card
71% of retail investor accounts lose money when trading CFDs with this provider.

 

eToro social trading Risk Scoring metric can be considered as one of the best out there when selecting a Leader. You must use this platform during your learning process in forex trading.

  • Meta Trader 5

MT5 is an upgrade of the MT4 platform. Although there are still questions on why Metaquotes have both MT4 and MT5. Even though MT5 is an upgrade to MT4, it hasn’t gotten the prominence that MT4 has. Most forex brokers are trying to increase MT5 market penetration by offering only stock CFDs or cryptos.

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