Best Forex Trading and Brokers Platforms for Beginners 2018

 Best Forex Trading and  Brokers Platforms for Beginners 2018

We don't recommend trading to absolute beginners as it is more akin to gambling than anything approaching a profitable investment. Real trading takes time, patience and skill - we have several guides on getting started on our website, but patience, practice and planning play an important vital part to success in trading.

Presuming you've done your homework and you now feel ready to trade, what makes a forex broker suitable for a novice trader? Of course those that offer demo accounts and no deposit bonuses are great - but a learning trader needs the right combination of an easy to use interface, a supportive environment that offers simplicity but also the flexibility and power to use more complex tools as their skills develop. Beginners should also consider copy trading brokers such as etoro, Tradeo and others - while a new discipline it shows promise as a way of keeping trading simple , though it is still vital to do your own homework when choosing who to place your trust - and your trades - with.

Forex trading provides an opportunity to people who are interested in supplementing or replacing their income. It is imperative for novices to work with brokers who specialize in working with beginners. 

The Best Forex Brokers + Trading Platforms

optionsXpress

Practice Account: $25,000

Minimum Deposit: None

A forex broker since 2001, optionsXpress offers live or recorded webinars by their educational team, live in-person workshops, The Insider newsletter and blog collective, as well as the XPRESSO and XPOUND newsletters.

OANDA Corporation

Practice Account: Unlimited

Minimum Deposit:  None

A forex broker since 2001, OANDA offers demo accounts that do not expire, giving you the ability to practice trading until you are ready to go live. Click on “Academy” for webinars (live or archived), trading basics, and scheduled learning events. Videos on demand are also available to get you started. 

FOREX.com ( a part of GAIN Capital Holdings [GCAP])

Practice account: $50,000

Minimum deposit $250

A forex broker since 1999, FOREX.com offers video tutorials specifically for beginners, two hours of webinars, live training, and Q&A sessions to teach you the basics. Fee-based online training courses are also available.

TradeKing Forex

Practice Account: $50,000

Minimum Deposit: $500 

A forex broker since 2005, TradeKing offers a robust Frequently Asked Forex Questions and glossary, an education tab on their website that explains the basics, technical analysis, and fundamental analysis, as well as premium education available for a fee.

TradeStation Group

Practice Account: $25,000-$200,000 option for Simulated Account 

Minimum Deposit: $2,000

A forex broker since 1991, TradeStation allows you to start with TradeStation Basics, so you can learn at your own pace. Branch out to TradeStation Labs, University, and Events, which includes media and quick tips. Events are both free and fee-based.

Name: Fortex Capital Marketing (FXCM)

Practice Account: $50,000

Minimum Deposit: $2,000

A forex broker since 1999, Fortex Capital Marketing offers daily platform walk-throughs and strategy sessions, a library of trading and instrument guides, and a calendar of events (that can be added to your personal calendar) that will teach you how to read quotes and place trades. Self-paced on-demand videos are available for a fee. 

Name: thinkorswim by TD Ameritrade, Inc. (AMTD)

Min deposit $2,000

A forex broker since 1999, thinkorswim is the TD Ameritrade forex platform. Investor education includes a rookie-learning curriculum with videos and courses to create your own learning path. The thinkorswim Learning Center consists of tutorials, videos, thinkMoney magazine, thinkManual, and Quiz Central. 

Name: E*trade FX (E*trade Financial Corporation [ETFC])

Practice Account: $50,000 for 30 days 

Minimum Deposit: $2,000

A forex broker since 1982, E*trade's FX tutorials can be found by entering “forex training” in the education resources search box. Web seminars, videos, and articles in “the basics” category were specially designed for beginners. 

Name: Place Trade Financial

Practice Account: N/A

Minimum Deposit: $5,000 ($3,000 for individuals between the ages of 21 – 26)

A forex broker since 2002, Place Trade Financial's education center includes tools, widgets, videos, webinars, demos, apps, and investor education courses.

Name: Interactive Brokers Limited (IBKRR)

Practice Account: After trading account has been approved and funded

Minimum Deposit: $10,000

A forex broker since 1977, Interactive Brokers' Traders’ University offers of a glossary, webinars (live or recorded), unmonitored discussion forums to network with other traders, apps, widgets, cheat sheets, and user guides.