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9 best trading platforms for beginners in 2024
Navigating the world of online trading can be daunting for beginners, especially when choosing the right trading platform. To help you make an informed decision, we’ve reviewed and ranked the top 9 best trading platforms for beginners in 2024. Our expert panel has assessed these platforms based on their user-friendliness, cost-effectiveness, range of features, and overall reliability.
Best trading platforms overall for 2024
- Capital.com: Best for wide range of markets
- Plus500: Best for its sophisticated mobile trading app
- Capex: Best for its user-friendly interface
- Libertex: Best for its competitive pricing
- Exness: Best for tight spreads and a pro-style trading experience
Editors picks: our top 3 trading platforms
- 3000+ assets
- Demo trading account
- Market analysis
- Easy-to-use interface
84.97% of retail CFD accounts lose money
- 430+ thousand users
- Publicly traded company
- Very low spreads
- Mobile trading app
84.97% of retail CFD accounts lose money
- 0 trading commissions
- Free trading signals
- Advanced analytics
- Demo account
84.97% of retail CFD accounts lose money
Top 9 online brokers, reviewed
- 3000+ world-renowned trading assets
- Demo trading account
- Daily Market analysis
- Intuitive & easy-to-use interface
- 3000+ trading assets
- Demo trading account
- Daily Market analysis
- Easy-to-use interface
84.97% of retail CFD accounts lose money
Overview:
Capital.com stands out as the best overall trading platform for beginners due to its intuitive interface, comprehensive educational resources, and competitive pricing. The platform offers access to a wide range of markets, including stocks, forex, commodities, and cryptocurrencies.
Pros:
- User-friendly interface with a sleek design
- Extensive educational content, including webinars and tutorials
- AI-powered trading insights to help beginners make informed decisions
- Commission-free trading on most assets
- Regulated by top-tier authorities (FCA, CySEC, ASIC)
Cons:
- Limited advanced trading features for professional traders
Why Choose Capital.com?
Capital.com’s blend of user-friendly features, educational tools, and low costs make it an excellent choice for beginners. The platform’s AI-driven insights and educational resources provide a solid foundation for new traders to build their skills.
- 430+ thousand subscribers
- Reputable publicly traded company
- Very low spreads
- Mobile trading app
- 430+ thousand users
- Publicly traded company
- Very low spreads
- Mobile trading app
84.97% of retail CFD accounts lose money
Overview:
Plus500 is renowned for its powerful mobile trading app, making it ideal for traders who prefer to manage their investments on the go. The platform offers a wide range of CFDs, including shares, forex, commodities, and ETFs.
Pros:
- Highly rated mobile app available on iOS and Android
- Commission-free trading with tight spreads
- Advanced risk management tools, such as stop-loss and take-profit orders
- Regulated by multiple top-tier authorities (FCA, ASIC, CySEC)
Cons:
- Limited research and analysis tools compared to some competitors
- Primarily focused on CFDs, not suitable for buying actual stocks
Why Choose Plus500?
If you’re looking for a robust mobile trading experience, Plus500 is a top choice. Its intuitive app, combined with competitive pricing and solid regulatory oversight, ensures a seamless trading experience on the go.
- Invest with 0 commissions
- Free trading signals
- Advanced analytical tools
- Demo account
- 0 trading commissions
- Free trading signals
- Advanced analytics
- Demo account
84.97% of retail CFD accounts lose money
Overview
Capex excels in providing educational resources tailored for beginners. The platform offers a comprehensive learning academy, including courses, webinars, and articles to help new traders understand the complexities of the market.
Pros:
- Extensive educational resources and learning materials
- User-friendly interface with customizable trading tools
- Wide range of assets, including stocks, forex, commodities, and cryptocurrencies
- Competitive spreads and no hidden fees
Cons:
- Limited social trading features
- Inactivity fees apply
Why Choose Capex?
Capex is perfect for beginners who prioritize education. The platform’s robust learning resources and user-friendly tools help new traders develop their skills and confidence in the market.
- Invest with 0 commissions
- Demo trading account
- Free trading signals
- Advanced analytical tools
- Invest with 0 commissions
- Demo trading account
- Free trading signals
- Advanced analytical tools
84.97% of retail CFD accounts lose money
Overview
Libertex is a popular choice for cost-conscious traders, offering a straightforward fee structure with competitive spreads. The platform provides access to a variety of markets, including forex, stocks, commodities, and cryptocurrencies.
Pros:
- Low fees and tight spreads
- User-friendly platform with a clean interface
- Access to a wide range of trading instruments
- Regulated by the CySEC
Cons:
- Limited advanced trading tools for experienced traders
- No social trading features
Why Choose Libertex?
If minimizing costs is your priority, Libertex is a great option. Its low fees and tight spreads make it an attractive choice for beginners looking to maximize their returns.
- More than 6000 products
- Leveraged derivatives in stocks, indices, etc
- World-class customer service
- Long and short orders
- More than 6000 products
- Leveraged derivatives
- Good customer service
- Long and short orders
84.97% of retail CFD accounts lose money
Overview
Exness is known for its tight spreads, making it an ideal platform for cost-effective trading. The platform offers a range of assets, including forex, metals, cryptocurrencies, and indices, with excellent trading conditions.
Pros:
- Competitive spreads starting from 0.3 pips
- No hidden fees or commissions
- User-friendly interface with powerful trading tools
- Regulated by multiple top-tier authorities (FCA, CySEC, FSCA)
Cons:
- Limited educational resources compared to some competitors
- Restricted access in certain jurisdictions
Why Choose Exness?
Exness’s competitive spreads and transparent fee structure make it a top choice for beginners who want to minimize trading costs while enjoying a user-friendly trading experience.
- CopyTrading – a feature to copy top investors
- Worldwide regulation
- Users from over 100 countries
- Demo Account
- Copy-Trading
- Worldwide regulation
- Users from 100 countries
- Demo Account
84.97% of retail CFD accounts lose money
Overview
eToro is the leading social trading platform, allowing beginners to follow and copy the trades of experienced investors. This unique feature, combined with a wide range of assets, makes eToro an excellent choice for those new to trading.
Pros:
- Innovative social trading features with CopyTrader
- Wide range of assets, including stocks, forex, commodities, and cryptocurrencies
- Commission-free stock trading
- Extensive educational resources and community support
Cons:
- Spreads can be higher than some competitors
- Inactivity fees apply
Why Choose eToro?
eToro’s social trading capabilities and user-friendly platform make it perfect for beginners who want to learn from experienced traders while having access to a diverse range of assets.
- Real-time portfolio monitoring
- Flexible funding and withdrawal
- Trading tips for beginners and experts
- Smart charts, webinars & Tutorials
- Portfolio monitoring
- Flexible withdrawal
- Trading tips for traders
- Smart charts, & webinars
84.97% of retail CFD accounts lose money
Overview
AvaTrade offers a secure trading environment with robust regulatory oversight and comprehensive trading tools. The platform supports a variety of assets, including forex, stocks, commodities, and cryptocurrencies.
Pros:
- Regulated by top-tier authorities worldwide (FCA, ASIC, FSCA)
- Commission-free trading with competitive spreads
- Access to advanced trading platforms, including MetaTrader 4 and 5
- Strong educational resources
Cons:
- Inactivity fees apply
- Some assets only available through MetaTrader software
Why Choose AvaTrade?
AvaTrade’s strong regulatory framework and comprehensive trading tools provide a secure environment for beginners to start their trading journey with confidence.
- 3000+ world-renowned trading assets
- Demo trading account
- Daily Market analysis
- Intuitive & easy-to-use interface
- 3000+ trading assets
- Demo trading account
- Daily Market analysis
- Intuitive interface
84.97% of retail CFD accounts lose money
Overview
Fortissio is known for its exceptional customer support, providing personalized assistance to traders at all levels. The platform offers a range of assets and competitive trading conditions.
Pros:
- Excellent customer support with dedicated account managers
- User-friendly platform with a range of trading tools
- Competitive spreads and no hidden fees
- Regulated by the HCMC
Cons:
- Limited educational resources compared to some competitors
- Inactivity fees apply
Why Choose Fortissio?
Fortissio’s outstanding customer support and user-friendly platform make it an excellent choice for beginners who value personalized assistance and competitive trading conditions.
- Invest With 0 Commissions
- Free trading signals
- Advanced analytical tools
- Intuitive & easy-to-use interface
- 0 Commissions
- Free trading signals
- Analytical tools
- Easy-to-use interface
84.97% of retail CFD accounts lose money
Overview
Warren Bowie & Smith provides a range of tools specifically designed for beginners, including educational resources and a user-friendly interface. The platform offers access to various markets, including forex, stocks, and commodities.
Pros:
- User-friendly interface with beginner-focused tools
- Comprehensive educational resources
- Competitive spreads and no hidden fees
- Regulated by the FSA
Cons:
- Limited advanced trading features for professional traders
- Inactivity fees apply
Why Choose Warren Bowie & Smith?
Warren Bowie & Smith’s focus on beginner-friendly tools and educational resources makes it an ideal platform for new traders looking to develop their skills and confidence.
Conclusion
Choosing the right trading platform is crucial for beginners to succeed in the financial markets. Each of these platforms offers unique features and benefits, catering to different needs and preferences. Whether you prioritize low fees, educational resources, or innovative social trading features, there’s a platform on this list that’s perfect for you. Start your trading journey with confidence by choosing one of these top-rated platforms in 2024.
A beginner's guide to trading and online brokers
Introduction to Trading
Trading in financial markets involves buying and selling financial instruments like stocks, currencies, commodities, and derivatives. Unlike long-term investing, which focuses on gradual wealth accumulation, trading is about capitalizing on short-term market fluctuations. Traders aim to make profits by predicting price movements and making timely trades.
Types of Trading
Day Trading: Involves buying and selling securities within the same day. Day traders capitalize on small price movements and often make multiple trades a day.
Swing Trading: This strategy involves holding positions for several days to capture short-to-medium-term market movements. Swing traders analyze trends and patterns to make their decisions.
Position Trading: A longer-term approach where traders hold positions for weeks or months, betting on significant price shifts. This method requires patience and a strong understanding of market fundamentals.
Scalping: Scalpers seek to make small profits from minute price changes, often holding positions for mere seconds or minutes.
Online Brokers: The Bridge to Markets
Online brokers facilitate trading by providing platforms where individuals can buy and sell financial instruments. They have democratized trading, making it accessible to anyone with an internet connection.
Key Features of Online Brokers:
User Interface: Beginner-friendly platforms with intuitive navigation.
Education and Resources: Tutorials, webinars, and market analysis to guide new traders.
Demo Accounts: Practice accounts that allow users to simulate trading without risking real money.
Mobile Trading: Apps that enable trading on the go, providing flexibility and convenience.
Security: Robust measures to protect user data and funds, including encryption and two-factor authentication.
Choosing the Right Broker
Selecting the right online broker is crucial for a successful trading journey. Here are essential factors to consider:
Regulation and Trust: Ensure the broker is regulated by reputable financial authorities (e.g., FCA, SEC, ASIC).
Fees and Commissions: Look for transparent fee structures with low spreads and commissions.
Trading Tools and Platforms: Advanced charting tools, real-time data, and technical indicators can significantly enhance trading decisions.
Asset Range: Access to a variety of markets such as stocks, forex, commodities, and cryptocurrencies.
Getting Started with Trading
Education: Start by understanding the basics of trading and the markets you’re interested in.
Choose a Broker: Select a broker that aligns with your trading goals and offers a demo account for practice.
Develop a Strategy: Whether you prefer day trading or swing trading, having a plan is essential.
Risk Management: Implement stop-loss orders and other risk management tools to protect your capital.
Start Small: Begin with small trades to build confidence and experience.
Conclusion
Trading is an exciting and potentially rewarding activity that requires knowledge, strategy, and discipline. With the right online broker and resources, beginners can start their trading journey and explore the opportunities that financial markets offer.
How to compare online trading platforms
Introduction
Selecting the right online trading platform is crucial for success in the financial markets. With countless options available, comparing trading platforms can be a daunting task. This guide will help you navigate the process by highlighting the key factors to consider when evaluating trading platforms.
Key Comparison Criteria
User Interface and Experience
Ease of Use: A platform should have an intuitive interface that allows easy navigation for users of all skill levels.
Customization: Look for platforms that allow customization of layout and features to suit individual trading preferences.
Regulation and Security
Regulatory Compliance: Ensure the platform is regulated by reputable financial authorities to guarantee the safety of your funds.
Security Measures: Check for robust security features, such as encryption and two-factor authentication.
Asset Variety
Market Access: Evaluate the range of assets offered, including stocks, forex, commodities, indices, and cryptocurrencies.
Specialized Instruments: Look for platforms that offer specialized instruments like options and futures if needed.
Trading Costs and Fees
Spreads and Commissions: Compare the spreads and commissions charged by different platforms to find the most cost-effective option.
Hidden Fees: Be aware of any hidden fees, such as withdrawal charges and inactivity fees.
Trading Tools and Features
Technical Analysis: Consider platforms that offer advanced charting tools, technical indicators, and analytical features.
Research and Insights: Access to market research, news, and insights can be valuable for making informed trading decisions.
Mobile Trading
App Quality: A robust mobile app allows you to trade on the go, providing flexibility and convenience.
Syncing: Ensure the mobile app syncs seamlessly with the desktop platform for a unified trading experience.
Customer Support
Availability: Look for platforms with responsive customer support available 24/7.
Support Channels: Multiple support channels, including live chat, phone, and email, can provide better service.
Steps to Compare Platforms
Identify Your Trading Needs: Determine your trading style, preferred assets, and required features.
Research Platforms: Compile a list of platforms that meet your criteria and conduct in-depth research on each.
Compare Features: Use the comparison criteria outlined above to evaluate the strengths and weaknesses of each platform.
Read Reviews and Testimonials: Gain insights from other traders by reading reviews and testimonials about each platform.
Test with Demo Accounts: Utilize demo accounts to test the platform’s features and functionality without risking real money.
Make an Informed Decision: Based on your research and testing, choose the platform that best aligns with your trading goals and preferences.
Conclusion
Comparing online trading platforms involves understanding your needs and evaluating each platform’s features and offerings. By following the criteria outlined in this guide, you can make an informed decision and select a platform that enhances your trading experience.
Methodology: How we choose the best trading platforms
Introduction
Selecting the best trading platforms requires a comprehensive evaluation process that considers various factors influencing the user experience. This article outlines the methodology used to assess and rank the top trading platforms, ensuring that our recommendations are accurate, reliable, and beneficial to traders.
Evaluation Criteria
Regulation and Security
Regulatory Compliance: We prioritize platforms regulated by reputable authorities (e.g., FCA, SEC, ASIC) to ensure user funds’ safety and compliance with industry standards.
Security Features: Platforms must have robust security measures, including encryption, two-factor authentication, and secure payment gateways.
User Experience and Interface
Ease of Use: A user-friendly interface is crucial for both beginners and experienced traders. We evaluate the platform’s design, navigation, and accessibility.
Customization: The ability to customize layouts and features allows traders to tailor the platform to their specific needs.
Asset Variety and Market Access
Diverse Asset Classes: Platforms offering a wide range of asset classes, including stocks, forex, commodities, indices, and cryptocurrencies, are favored.
Specialized Instruments: Access to specialized instruments like options, futures, and CFDs is considered.
Trading Tools and Features
Technical Analysis Tools: Advanced charting, indicators, and analytical tools are essential for making informed trading decisions.
Research and Insights: Access to market research, news, and insights enhances the trading experience.
Trading Costs and Fees
Spreads and Commissions: We analyze the spreads and commissions charged by each platform, focusing on cost-effectiveness.
Hidden Fees: Transparency in fee structures is crucial, and platforms with hidden fees are rated lower.
Customer Support
Availability: Responsive customer support is essential, and we evaluate the availability of support services.
Support Channels: Multiple support channels, including live chat, phone, and email, are preferred.
Educational Resources
Learning Materials: Comprehensive educational resources, including tutorials, webinars, courses, and articles, are evaluated to determine the platform’s support for traders at all experience levels.
Accessibility: Resources should be accessible in multiple languages to cater to a global audience and accommodate various learning styles.
Mobile Trading Experience
App Functionality: A high-quality mobile app that replicates the desktop experience is crucial for traders who need flexibility.
Integration: The ability to seamlessly switch between mobile and desktop platforms is a key consideration.
Innovation and Technology
Cutting-Edge Features: Platforms that leverage the latest technology, such as AI-driven insights and algorithmic trading, are rated higher.
Continuous Improvement: We assess the platform’s commitment to innovation by looking at regular updates and new feature releases.
How We Conduct the Evaluation
Market Research
Industry Trends: We stay updated on the latest trends and technological advancements in the trading industry to ensure our evaluations reflect current market conditions.
Competitor Analysis: By examining other leading platforms, we identify benchmarks for best practices and features.
Hands-On Testing
Platform Trials: Our team of experts signs up for and uses each platform, exploring its features, tools, and user interface to provide an unbiased assessment.
Real-World Scenarios: We simulate various trading scenarios to evaluate how each platform performs under different market conditions.
User Feedback and Reviews
Community Insights: We analyze feedback from real users on forums, review sites, and social media to gain insights into their experiences and common challenges.
Survey Data: Conducting surveys with traders provides firsthand insights into what users value most in a trading platform.
Expert Opinions
Panel of Experts: Our evaluations are reviewed by a panel of seasoned traders and financial experts who provide additional insights and recommendations.
Consultations: We consult with industry professionals to verify our findings and ensure the accuracy of our assessments.
Updates and Revisions
Continuous Monitoring: Platforms are continually monitored for updates, changes in regulatory status, or shifts in market reputation.
Periodic Reviews: We update our evaluations periodically to reflect new features, improvements, or changes in the trading landscape.
Conclusion
Our methodology is designed to provide an objective, comprehensive evaluation of trading platforms. By considering various factors, from user experience to regulatory compliance, we ensure that our recommendations are reliable and beneficial for traders at all levels.
FAQs
An online broker acts as an intermediary between you and the financial markets, allowing you to buy and sell assets such as stocks, forex, commodities, and cryptocurrencies through a digital platform. Here’s how it works:
Account Setup: You create an account with the broker, provide your personal information, and complete the KYC (Know Your Customer) process.
Deposit Funds: Transfer money into your brokerage account using various payment methods like bank transfers, credit cards, or e-wallets.
Trading Platform: Use the broker’s trading platform to access the markets, execute trades, and monitor your portfolio.
Order Execution: When you place a trade, the broker routes your order to the market, where it is executed at the prevailing market price.
Portfolio Management: Brokers provide tools for tracking and managing your investments, including performance reports and market analysis.
Withdrawal: You can withdraw your funds or profits back to your bank account or preferred payment method.
Choosing the right trading platform involves considering several factors that align with your trading goals and preferences:
Regulation and Security: Ensure the platform is regulated by reputable authorities and offers robust security measures to protect your funds.
Asset Variety: Look for platforms offering a wide range of assets, including stocks, forex, and cryptocurrencies.
Trading Costs: Compare spreads, commissions, and any additional fees to find a cost-effective platform.
User Experience: A user-friendly interface with intuitive navigation is essential for a seamless trading experience.
Educational Resources: Access to tutorials, webinars, and learning materials is vital for beginners.
Customer Support: Responsive and accessible support is crucial for resolving issues and getting assistance.
Mobile Trading: If you trade on the go, look for a platform with a reliable mobile app.
Most online trading platforms are safe if regulated by recognized financial authorities such as the FCA, SEC, or ASIC. These platforms must adhere to strict regulatory standards, ensuring:
Fund Protection: Segregation of client funds from the broker’s operational funds.
Data Security: Encryption protocols and secure authentication processes to protect user data.
Fair Trading Practices: Transparent pricing and execution policies to prevent fraud or market manipulation.
The amount needed to start trading varies depending on the platform and asset class. Some platforms offer low minimum deposit requirements, while others may require more significant capital:
Stocks and ETFs: Many platforms allow you to start with as little as $100, though having more capital can help diversify your portfolio.
Forex: You can start trading forex with a small amount, often as low as $50, but it’s recommended to have at least $500 for meaningful trades.
Cryptocurrencies: Minimum deposits vary, but you can often begin with $50 or less.
CFDs: Contract for Difference trading often requires low initial deposits, but margin requirements can increase the needed capital.
Some online brokers offer commission-free trading, primarily on stocks and ETFs. However, it’s essential to understand the underlying costs:
Spreads: The difference between the buying and selling price of an asset; this is how many brokers earn.
Other Fees: Withdrawal, inactivity, or overnight fees may apply, so reviewing the broker’s fee structure is crucial.
Investing: Focuses on long-term wealth accumulation by buying and holding assets like stocks or real estate, with the expectation of gradual appreciation over time.
Trading: Involves buying and selling assets frequently, aiming to capitalize on short-term price movements for quick profits. It requires more active market monitoring and decision-making.
Conclusion
Navigating the world of online trading requires understanding various aspects of trading platforms, brokers, and the market itself. By answering common questions and providing insights into choosing the right platform, this guide aims to equip traders with the knowledge needed to make informed decisions and succeed in the financial markets.
Best trading platforms by country
Which is the best platform for my country?
Determining the best trading platform in your country isn’t straightforward, as it largely depends on your individual needs, budget, and long-term goals. If you’re outside the US, our experts have evaluated and rated top brokers in various countries to assist you in finding the one that best suits your requirements.