| Online Broker | Real Account Minimum Deposit | Trading Platforms | About |
|---|---|---|---|
| AvaTrade | $100 Minimum Deposit | MT4, MT5, Web Trader Trading Platforms | AvaTrade offers its user friendly Web Trader with 1000+ market to trade and with AvaProtect, which reimburses for losing trades: T&Cs apply About |
| eToro | $200 Minimum Deposit | Copy Trader Trading Platform | eToro offers a user friendly platform, with social and copy trading tools so the beginner can see the views or copy the trades of more experienced trader About |
| IQ Option | $10 Minimum Deposit | Web Trader & Downloaded Platform Trading Platforms | IQ Option provides a user friendly platform with technical and fundamental analysis tools About |
| ThinkMarkets | None Minimum Deposit | ThinkTrader, MT4, MT5 Trading Platforms | ThinkMarkets offers user friendly ThinkTrader along with MT4 and MT5 About |
| Deriv | $5 Minimum Deposit | Deriv X, MT5 Trading Platforms | Deriv offers user friendly Deriv X along with MT5 About |
Forex Trading Platforms For Beginners
Arguably one of the best Forex trading platform for beginners is a web trader, especially one which is designed to have a clear simplified interface. This is because an online trading platform is a tool and like any tool needs experience to use properly. So for a complete beginner, getting to grips with the platform as well as Forex trading can be problematic, thus the clearer the platform is the more approachable it may be.
However there is also no real reason why any trading platform provided by retail Forex brokers cannot be used by a beginner, as they have basic similarities. As with any trading platform, testing it and learning how to use it on a demo account is a wise idea, especially for a beginner. For any trader, working out how to place an order or change a stop-loss or close an order, or any action on any platform while trading live can be a recipe for unnecessary trading errors.
The tools included on the platform may be helpful for the beginner. Indicators do not predict the market, but they can potentially be a guide as many traders and computer programs are likely using them to trade Forex. But an indicator needs to be well understood to use. Again, a demo account can be useful to practice trading with indicators. User friendly platoforms may offer a wide range of indicators so an encyclopedia of technical indicators can be a useful reference to understand how they work.
Other tools which may be valuable depending on availability at the broker are social and copy trading. In social trading the views of other traders are made available in a feed. In copy trading the trades of other trader are copied in the trader's account. As with any trading automation, because a trader or a strategy has performed well in the past does not mean they will do so in the future. Thus for a beginner, social trading may be useful as an additional way to try and understand trading and the markets and see the views or copy the trade of more experienced trader.
