Top 10 Forex Trading Platforms For Beginners

Our list of the best forex trading platforms for beginners are the following:


Pepperstone
ThinkMarkets
Plus500
IC Markets
eToro
Our Rating
9.33
7.67
5.83
8.50
7.17
Smart Trader Tools
STP Order Execution
Trade cannabis index
No Dealing Desk
CopyTrader functionality
for automated trading

Regulations and Licenses

Feature
Pepperstone
ThinkMarkets
Plus500
IC Markets
eToro
ASIC (Australia)
FCA (UK)
MAS (Singapore)
FSCA (South Africa)
FINMA (Switzerland)
CYSEC (Cyprus)
FMA (New Zealand)
DFSA (Dubai)
BaFin (Germany)
FSA (Seychelles)
SCB (Bahamas)

Brokerage

Feature
Pepperstone
ThinkMarkets
Plus500
IC Markets
eToro
EUR/USD Avg. Raw Spread
0.17
0.1
-
0.02
-
GBP/USD Avg. Raw Spread
0.59
-
-
0.23
-
AUD/USD Avg. Raw Spread
0.24
-
-
0.17
-
EUR/USD Standard Spread
0.77
-
0.80
0.62
3.00
EUR/USD Fixed Spreads
-
-
-
-
Commissions (USD Base)
$3.50
$3.50
-
$3.50
-
Minimum Deposit
$0
$0
$100
$0
$200
Swap Free Account
No Inactivity Fees
Funding Methods
16+
6+
3+
15+
11+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
ThinkMarkets
Plus500
IC Markets
eToro
Currency Pairs
62+
46+
71+
61+
49+
Cryptocurrency CFDs*
12+
21+
15+
18+
46+
Index CFDs
14+
21+
67+
16+
13+
Share CFDs
300+
1200+
1816+
100+
2000+
Commodities CFD
9+
15+
22+
26+
33+
Stockbroking
-
-
-
2000+
Retail Max Leverage (Australia)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max Leverage (Australia)
500:1
500:1
300:1
500:1
400:1
Retail Max. Leverage (The United Kingdom)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
-
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max. Leverage (The United Kingdom)
500:1
500:1
300:1
-
400:1
Retail Max. Leverage (Europe)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max. Leverage (Europe)
500:1
500:1
300:1
500:1
400:1
Retail Max. Leverage (UAE)
Major Pairs 30:1
Minor Pairs 20:1
-
-
-
-
Pro. Max. Leverage (UAE)
500:1
-
-
-
-
Retail Max. Leverage (Singapore)
-
Major Pairs 20:1
-
-
Pro. Max. Leverage (South Africa)
500:1
-
-
-
Retail Max. Leverage (With offshore regulators)
200:1
500:1
300:1
500:1
400:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.

Trading Platforms + Tools

Feature
Pepperstone
ThinkMarkets
Plus500
IC Markets
eToro
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account

Overall

Pepperstone
ThinkMarkets
Plus500
IC Markets
eToro
Broker Official Site Our Rating Regulation EUR/USD Spread GBP/USD Spread AUD/USD Spread MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
Visit Broker > 9.33 SCG, ASIC
FCA, CySEC
0.17 0.59 0.24 85ms $0 62+ 12+ 30:1 500:1
Visit Broker > 7.67 FCA, FSCA
ASIC,FINMA
0.1 - - 140ms $0 46+ 21+ 30:1 500:1
Visit Broker > 5.83 ASIC, CySEC
FCA, FMA
- - - 140ms $100 71+ 15+ 30:1 300:1
Visit Broker > 8.50 ASIC, FSA
CySEC
0.02 0.23 0.17 130ms $0 61+ 18+ 30:1 500:1
Visit Broker > 7.17 ASIC, CySEC
FCA, FSA
- - - 130ms $200 49+ 46+ 30:1 400:1