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Regulated Broker is for
Safe & Profitable Trading

How to select a forex broker for beginners?

By researching and comparing brokers, evaluating their customer service, and testing demo accounts,
traders can make informed decisions tailored to their trading needs.

Check Regulation

1 - Check Regulation

Choose a broker regulated by a reputable authority, like the FCA, ASIC, or CySEC. Regulation ensures the broker follows industry standards for security and fairness.

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2 - Review Fees and Trading Conditions

Compare spreads, commissions, and any additional costs. Opt for brokers with transparent fee structures and trading conditions that suit smaller accounts if you’re just starting.

Test with a Demo Account

3 - Test with a Demo Account

A good broker offers a demo account to practice trading without real money. Use this to evaluate the platform’s ease of use, available tools, and overall experience.

Top Regulated Forex Brokers: Year 2024

Explore Forex brokers that are regulatory compliant, licensed, and implement strong investor protection measures.

#1

XM
XM
Investor Protection: Yes
ASIC / CySEC / DFSA / FCA / FSCA / FSC
71.61% of retail CFD accounts lose money

#2

Plus500
Plus500
Investor Protection: Yes
CFD trading only
ASIC / CySEC / DFSA / EFSA / FCA / FMA / FSA (SC) / FSCA / JFSA / MAS
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

#3

eToro
eToro
Investor Protection: Yes
FCA / CySEC / ASIC
51% of retail CFD accounts lose money

#4

Pepperstone
Pepperstone
Investor Protection: Yes
FCA / BaFIN / CySEC / ASIC / DFSA / CMA / SCB
75.2% of retail CFD accounts lose money
Advertiser Disclosure: We may earn a commission if You buy services or sign up with any of the recommended brokers through our referral links. This helps us cover the expenses for running the website continuously.
Note: The comparative table above features brokers regulated by what Noirbull considers the most stringent regulatory authorities and provides a summary of each broker's profile. For detailed information, click on the 'Explore Broker' button.

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Forex Cent Account For Low-Risk Trading

For beginners and traders with smaller budgets, Forex cent accounts offer an accessible way to start trading with a low initial deposit.

Check Regulation

Low Minimum Deposit

Ideal for beginners, cent accounts require a low minimum deposit - sometimes as little as $1 or $10 - making them accessible for new traders who want to enter the forex market with minimal funds.

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Trading in Cents

Cent accounts allow traders to trade in cents rather than standard currency units. A $10 deposit appears as 1,000 cents, enabling low-risk trading and testing strategies without large investments.

Test with a Demo Account

Real Market Conditions

Cent accounts are perfect for testing forex trading strategies in a real market environment, providing a safe way for new traders to gain experience with live trading conditions.