Tue. Nov 16th, 2021

Forex Broker Reviews

There are plenty to choose from and getting the right one is essential to your ongoing success and profitability. If you are a new trader you will also want a broker that has an easy-to-use system.

 

Well there are two Forex brokers I recommend above all others. They are both perfectly suited to you if you are a new trader but also have plenty of advantages for more experienced traders too.

Find out which brokers I recommend you choose from in my Forex broker reviews below.

Easy-Forex Broker Review – Number 1 Recommendation

Ease-of-Use =

Minimum Deposit =$25 (Approx £15)

Spread Value =

Demo Account = Yes

Regulation = EU approved

Best For = New traders looking to make money

Overall Rating = 

 

The Easy-Forex platform is the Forex broker that gets my top recommendation in my Forex broker reviews. It has the benefits of being both easy-to-use whilst also offering superb value and unrivalled tools and support.

This makes it a perfect platform for new traders but also has several key advantages for the more serious trader.

At a glance:

  • A personal account manager to help train you up and answer your questions
  • Unique real time ‘Trade Simulator’ acts as a perfect demo account
  • Minimum deposits from just $25 (around £15)
  • Online platform so you can trade from anywhere
  • Excellent value pips and spreads and good leverage
  • Live ‘Rate-Freezing’ and ‘Stop-Loss’ protection system
  • Regulated by approved EU regulatory bodies

Why Choose Easy-Forex?

Easy-Forex is the Forex broker to use if you are new to Forex but also serious about making money from trading.

It offers a professional platform that has many features that even the professionals would love, yet you never feel daunted as their system is so easy-to-use.

In addition the customer support is very impressive with email, phone and live chat all enabled and you even get your own account manager to help you out.

If you want to start trading Forex professionally from the start then Easy-Forex will suit your needs down to the ground. On the other hand, if it is the fun of trading you find more appealing than the ability to make money, you may prefer our alternative option of eToro.

Click here to open an account with Easy-Forex and start trading

Are there any Negatives of Easy-Forex?

Of course there are negatives of Easy-Forex. In fact during my Forex broker reviews, I have not found a broker that has no negatives at all.

The good thing though is that the negatives are few and far between and most will not effect you if you are still learning how to trade.

The negatives are mainly that their pip spreads, although low, are perhaps not quite as low as you can find elsewhere – especially on the minor currency pairs.

However, the brokers which do offer lower pip spreads are generally geared towards professional traders and so you would need a lot more than £15 to open an account with them making Easy-Forex a great broker for a low budget.

The only other real negative worth noting here is that because they are heavily regulated by EU bodies, you have to do a bit of paperwork both to open an account and withdraw your winnings. However, this is a small pain to put up with to know you are trading with a secure and reputable broker.

Take advantage of tools and training available at Easy-Forex by clicking here

Easy-Forex Review Summary

Overall my Forex broker reviews have led me to believe you will not find many Forex brokers around that can cater for your needs better than Easy-Forex.

They offer a perfect blend which provides an easy-to-use and secure interface for new traders to get their heads around whilst also mixing in some great tools and support for those who are taking Forex trading seriously.

Although the spreads are not as low as you can find elsewhere, for a low minimum deposit of just $25 USD you will not find many other brokers who can match them for value.

Easy-Forex have been my chosen broker for the last 3 years and I have no desire to change. They provide me everything I needed as a new trader when I first opened my account and still provide me with enough tools to carry on at a more advanced level.

If you are just starting out in Forex and want a good solid broker that is simple to understand but will still be perfect for you as you gain more experience, Easy-Forex is the best broker I can recommend to you.

Click here to start trading with Easy Forex on a real or demo account today

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eToro Broker Review – Alternative Choice

Ease-of-Use =

Minimum Deposit =$50 (Approx £30)

Spread Value =

Demo Account = Yes

Regulation = US & EU approved

Best For = New traders who want to have fun

Overall Rating = 

 

Following my Forex broker reviews, the eToro platform is the Forex broker that I recommend to you as an alternative to Easy-Forex. It is not quite as good as Easy-Forex for the long term as it is designed to cater for new traders, this means you do not get some of the more advanced tools that you do with Easy-Forex.

However, it does really make Forex trading a lot more fun and therefore is a good choice if it is the thrill of trading that attracts you rather than the opportunity to make serious money.

At a glance:

  • A great fun to use platform for more enjoyment of trading
  • Free practice accounts to help you learn the ropes
  • Minimum deposit of just $50 with up to $1,000 bonus
  • Both online and download platforms available
  • Good value pips and spreads
  • Regular free to enter trading tournaments
  • Regulated by approved EU regulatory body

Why Choose eToro?

eToro is designed with new traders in mind. In fact, although they claim to offer tools to attract bigger traders I would say that their main business aim is to bring traders who are new to Forex on board.

They do this by removing many of the complex tools other platforms provide to simplify their platform as much as possible. This means it may not suit more experienced traders but it certainly does the job for new traders.

eToro have also done a great job at making trading more fun, in fact it often feels more like you are playing a game than trading currencies for real. For this reason if having fun is the main benefit you want from Forex Trading, eToro is the ideal broker for you.

Click here to trade for fun or real with eToro

Are there any Negatives of eToro?

The fact that eToro has been so simplified and targeted towards new traders means that there are certainly some negatives to consider.

This is especially true  if you intend to stick with the same broker as you expand your trading knowledge and skill.

For starters, some of the spreads are a little higher than Easy-Forex which means you will immediately make less money on successful trades.

This is not so much of a problem if you are only trading for fun but you can see how it is a negative if you are looking to make money.

Another negative is the lack of any serious analytical tools. Sure there are some which you will find useful but once again as you develop your trading technique you may find these simple tools are not up the job.

Finally, you have to keep in mind that although great for new traders, eToro does have some gimmicks that more experienced traders may find annoying. Ultimately it is a platform for new traders who want some fun rather than serious money makers.

If you want to enjoy your trading click here to open an eToro account

eToro Review Summary

If you have decided that Easy-Forex is not the right broker for you then eToro is certainly a viable alternative and certainly the next best choice if you are new to Forex trading.

Although you will not find the more advanced tools and layout that other platforms use, you will get a very easy-to-understand platform that is designed with beginners in mind.

The trading tournaments and ‘in your face’ graphics help to add an extra dimension to Forex trading that makes it much more fun.

The minimum deposit is very low at only $50 and there are also some bonus cash amounts you can claim on first deposits over $100. This means you can get more money to trade with from the start.

If you are looking for the easiest to use broker platform and would like to make trading more fun rather than solely focused on making money – eToro is the choice for you.

Take advantage of the low minimum deposit and open an eToro account today

Final Word

Overall, it comes down to one question when choosing your first Forex broker.

Do you want to start trading seriously from the beginning or are you just looking to have a bit of fun while learning?

If you have the money prospects as your main though then Easy-Forex is the broker to choose.

On the other hand if you just want to have a bit of fun and do not see the money as a big attraction then go for eToro.

That concludes my Forex broker reviews.

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