5 Best Forex Brokers For Beginners

AvaTrade is a highly regulated market maker that provides trading on a variety of assets, and is one of the best Forex Brokers for Kenyans. ‎$3.76 commission per lot per trade

Beginner-friendly Forex brokers provide assistance to their customers. Brokers who have a good reputation can help you verify your account, set up and configure a new trading platform, and provide educational resources. This way, the trader is in the best position to recognize and seize upon profitable trades.

1). AvaTrade

Overview

AvaTrade is a highly regulated market maker that provides trading on a variety of assets, and is one of the best Forex Brokers for Kenyans.

AvaTrade offers one of the most user-friendly and forward-thinking trading environments for novice investors, thanks to its support for all of the top trading platforms, such as MT4 and MT5, as well as its own app, AvatradeGO, which has won multiple industry awards.

Pros and Cons

PROS	CONS
Broad range of tradable instruments	High EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

Features

Feature	Information
Regulation	Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from	$100
Average spread from	0.9 pips
Commissions from	No commission on Forex
Deposit/Withdrawal Fees	None
Maximum Leverage	1:400
Bonuses	First Deposit Bonus

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2). FXTM

Overview

In addition to MT4 and MT5 platforms, FXTM is a well-regulated market maker/ECN broker that provides a wide range of account options as one of the best Kenya Forex Brokers.

To help novice CFD traders, FXTM offers a strong copy-trading technique that can be a great help. FXTM Invest allows traders to imitate the trades of more experienced traders, known as Strategy Managers, in order to access trading opportunities without the technical know-how they need.

Pros and Cons

PROS	CONS
Superb customer service	Inactivity and withdrawal fees
High maximum leverage	Limited product portfolio
Great educational tools

Features

Feature	Information
Regulation	CySEC, FCA, FSCA
Minimum deposit from	$100
Average spread from	0.9 pips
Commissions from	No commission
Deposit/Withdrawal Fees	$3
Maximum Leverage	1:500 on average
Bonuses	$300 Trading Bonus
Customer Support	24/5

3). XM

Overview

Some of the best instructional and market analytical products may be found at XM. Multi-asset trading on several asset classes is offered by XM, an established market maker that is regulated by the Financial Conduct Authority and the Securities and Exchange Commission.

Both the MT4 and MT5 platforms offer four live accounts for traders to choose from.

Pros and Cons

Pros

Low minimum deposit

Comprehensive educational offering

Streamlined account opening process

Cons

Inactivity fee charged after 90 days on live accounts

Limited product portfolio

Features

Feature	Information
Regulation	IFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from	$5
Average spread from	0.1 pips
Commissions from	$3.5 commission per $100 000 traded
Deposit/Withdrawal Fees	None
Maximum Leverage	1:30
Bonuses	$30 Trading Bonus
Customer Support	24/5

4). Exness

Overview

On the MT4 and MT5 trading platforms, Exness is a market maker that provides market and execution accounts. Exness offers some of the greatest trading conditions in the business, including a free Cent Account for new traders.

Pros and Cons

PROS	CONS
Well-regulated
Tight spreads
Over 130 currency pairs

Features

Feature	Information
Regulation	CySEC, FCA
Minimum deposit from	$1
Average spread from	1.3 pips
Commissions from	3 USD and 10 USD per 1 lot for CFDs
Deposit/Withdrawal Fees	None
Maximum Leverage	1:2000
Bonuses	Standard +10% Bonus Programme
Customer Support	24/5 - multilingual

5). Pepperstone

Overview

Beginners can get a head start on their trading careers with the help of Pepperstone's wealth of educational resources.

Free trading guidelines, articles on how to trade Forex and CFDs, and other courses and videos are all part of the company's instructional offerings. It holds regular webinars and archives of prior webinars are available for free on its website.

Pros and Cons

Pros

No minimum deposit
Low trading fees for forex
No added costs for withdrawals or deposits

Cons

Limited number of instruments
No additional research tools

Features

Feature	Information
Regulation	FCA, ASIC
Minimum deposit from	AUD200
Average spread from	0.4 pips
Commissions from	$3.76 commission per lot per trade
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	None
Customer Support	24/5

5 Best Forex Brokers for beginners