Best Forex Brokers 2026

The best forex brokers for beginners offer low minimum deposits ($0-$100), comprehensive educational resources, unlimited demo accounts, and strong regulation. Top choices include eToro for social trading, XM for education, and Plus500 for simplicity. Look for brokers with negative balance protection and 24/7 customer support.

ECN/Raw spread brokers offer the lowest spreads starting from 0.0 pips on major pairs like EUR/USD. Top low-spread brokers include IC Markets (0.0 pips + $3.50 commission), Pepperstone (0.0 pips + $3.50), and LMAX Exchange. Note that raw spread accounts charge a commission per lot traded.

Look for brokers regulated by Tier-1 authorities: FCA (UK), ASIC (Australia), SEC/CFTC (USA), FINMA (Switzerland), or MAS (Singapore). Always verify the license number on the regulator's official register. Tier-1 regulated brokers offer investor compensation schemes, segregated client funds, and strict operational requirements.

Minimum deposits range from $0 to $10,000+ depending on the broker and account type. Many brokers like XM, Exness, and FBS offer $0-$5 minimum deposits. For serious trading, $100-$500 is recommended to properly manage risk with standard lot sizes. Professional accounts may require $10,000+.

MetaTrader 4 (MT4) is ideal for forex-focused traders with its vast library of indicators and EAs. MetaTrader 5 (MT5) offers more timeframes, economic calendar, depth of market, and support for stocks/futures. Choose MT4 for simplicity and forex focus, MT5 for multi-asset trading and advanced features.