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Best Forex Brokers for Beginners 2026

A first broker should be regulated somewhere that protects retail clients, should offer a free demo so you can learn the platform before depositing, and should not demand more than you are prepared to lose. This list applies those three tests and orders the survivors by score.

It excludes brokers whose only licences are offshore, brokers without a demo on record, and brokers with minimum deposits above $250.

The rule: Tier-one regulated, free demo on record, minimum deposit of $250 or less; ordered by overall score.

The ranked list

1

IC Markets 9.5/10

Tier-one regulated ASIC, CySEC, Seychelles FSA, Bahamas SCB, Kenya CMA

Min deposit: $200
Spread from: 0.0 pips
Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView
Demo: Yes
Min deposit: $200

2

AvaTrade 9.2/10

Tier-one regulated Central Bank of Ireland, ASIC, BVI FSC, FSCA, Japan FSA, FFAJ, ADGM FSRA, CySEC, CMA Kenya, Israel Securities Authority

Min deposit: $100
Spread from: 0.9 pips
Platforms: MetaTrader 4, MetaTrader 5, AvaTrade WebTrader, AvaTrade App, AvaOptions
Demo: Yes
Min deposit: $100

3

FxPro 9.1/10

Tier-one regulated FCA, CySEC, FSCA, SCB Bahamas, Seychelles FSA

Min deposit: $0
Spread from: 0.0 pips
Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView, FxPro Trading Platform
Demo: Yes
Min deposit: $0

4

XM 9.1/10

Tier-one regulated Belize FSC, CySEC, ASIC, DFSA, FSCA

Min deposit: $5
Spread from: 0.8 pips
Platforms: MetaTrader 4, MetaTrader 5, XM App
Demo: Yes
Min deposit: $5

5

Markets.com 9.0/10

Tier-one regulated CySEC, FSCA, SVG registration

Min deposit: $100
Spread from: 0.6 pips
Platforms: Markets.com Web Platform, MetaTrader 4, MetaTrader 5
Demo: Yes
Min deposit: $100

6

Admirals 8.9/10

Tier-one regulated FCA, CySEC, ASIC, FSCA, Seychelles FSA, JSC Jordan, CMA Kenya, EFSA

Min deposit: $25
Spread from: 0.0 pips
Platforms: MetaTrader 4, MetaTrader 5, Admirals Platform
Demo: Yes
Min deposit: $25

7

Plus500 8.9/10

Tier-one regulated FCA, ASIC, CySEC, FMA, FSCA, MAS, Seychelles FSA, DFSA, EFSA, SCB Bahamas, CIRO, ISA, JFSA, SCA, CFTC/NFA

Min deposit: $100
Spread from: 0.6 pips
Platforms: Plus500 WebTrader, Plus500 mobile and desktop platforms
Demo: Yes
Min deposit: $100

8

eToro 8.8/10

Tier-one regulated FCA, CySEC, ASIC, Seychelles FSA, ADGM FSRA, MAS, SEC/FINRA

Min deposit: $50
Spread from: 0.2 pips
Platforms: eToro Web Platform, eToro mobile app
Demo: Yes
Min deposit: $50

9

Eightcap 8.7/10

Tier-one regulated ASIC, FCA, CySEC, SCB Bahamas, Seychelles FSA, Mauritius FSC

Min deposit: $100
Spread from: 0.0 pips
Platforms: MetaTrader 4, MetaTrader 5, TradingView, TradeLocker
Demo: Yes
Min deposit: $100

10

easyMarkets 8.6/10

Tier-one regulated CySEC, ASIC, Seychelles FSA, BVI FSC, FSCA

Min deposit: $25
Spread from: 0.6 pips
Platforms: easyMarkets Web/App, TradingView, MetaTrader 4, MetaTrader 5
Demo: Yes
Min deposit: $25

11

HF Markets 8.5/10

Tier-one regulated FCA, CySEC, FSCA, Seychelles FSA, CMA Kenya, DFSA, Mauritius FSC

Min deposit: $0
Spread from: 0.0 pips
Platforms: MetaTrader 4, MetaTrader 5, HFM WebTrader, HFM Platform
Demo: Yes
Min deposit: $0

12

MultiBank Group 8.5/10

Tier-one regulated ASIC, MAS, CySEC, CIMA, UAE SCA/CMA, Mauritius FSC, Seychelles FSA, Vanuatu VFSC, plus additional group registrations/licences

Min deposit: $50
Spread from: 0.0 pips
Platforms: MetaTrader 4, MetaTrader 5, WebTrader, MultiBank-Plus / MultiBank App
Demo: Yes
Min deposit: $50

13

GO Markets 8.3/10

Tier-one regulated ASIC, CySEC, FSC Mauritius

Min deposit: $10
Spread from: 0.0 pips
Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView, GO TradeX
Demo: Yes
Min deposit: $10

14

ThinkMarkets 8.2/10

Tier-one regulated ASIC, FCA, CySEC, FSCA, Seychelles FSA, DFSA, CIMA, Mauritius FSC, New Zealand FMA

Min deposit: $10
Spread from: 0.0 pips
Platforms: ThinkTrader, MetaTrader 4, MetaTrader 5, TradingView
Demo: Yes
Min deposit: $10

15

CMC Markets 8.0/10

Tier-one regulated FCA, ASIC, BaFin, MAS, FMA New Zealand, CIRO Canada, DFSA

Min deposit: $0
Spread from: 0.0 pips
Platforms: CMC Next Generation, MetaTrader 4, TradingView
Demo: Yes
Min deposit: $0

Rankings are editorial and explained on the methodology page. Trading and prop-firm evaluations carry a high risk of losing money. We may earn a commission through links. Affiliate disclosure.