One of the most important tasks you have to do when you begin trading is to choose a broker. After all, you will be depositing your hard earned money with the broker so you want to make sure that your money will be safe and you can withdraw it when you want.

You also want to choose a broker with low spreads (trading costs) so that they do not eat into your profits.

 

Some brokers also do not accept residents of some countries to open their accounts with them. Given these challenges, it can be difficult to find a suitable broker when starting out. That was the case when we started out.

It does not have to be that difficult for you though, we have compiled a list of recommended brokers that you can use below.

We will advise you to open 2 accounts with 2 different brokers, 1 for short-term withdrawals and the other for long-term compounded growth. Its free to open an account on the brokers listed below

Broker Regulator

Min

Deposit

Visit Broker
Deriv Logo MFSA, LFSA,
VFSC, BFSC
$5 Sign Up
Hotforex Logo CySec, FCA,
FSCA, DFSA,
FSI
$5 Image

Get Bonus

instaforex logo CySec, ASIC $1 Image

Get $1000 No Deposit Bonus

xm broker logo CySec, ASIC $5 Image

Get Up To $5000 Bonus

FxTm logo CySec, ASIC $10 Image

Get Bonus

Octa FX logo CySec $50 Image

Visit Trading Academy

Ava Trade Logo CySec, ASIC,
BVI, FSC, FSA
$100 Image

Visit Trading Academy

 

Open e-wallet accounts

With all these brokers you will also need to open digital wallet accounts to allow you to withdraw and deposit from your broker accounts.

You can also use these e-wallets to send and receive money from your friends worldwide.

Opening accounts on these e-wallets is free so you can open on all of them for flexibility and convenience,