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Author Chris Cammack
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HFM
4.53
/ 5
Best for Copy Trading
Low Deposit, Low-Cost Accounts
Extensive Trading Instrument Selection

Min. Spread

0.0 pips

Trading Cost

USD 10

Min. Deposit

USD 0

Why we picked HFM

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While traders have the choice of five account types at HFM, our winner of the best Trading Account for Beginners is the HFM Micro Account. With tight spreads, leverage of up to 1000:1, and minimum deposits starting at 5 USD, the Micro Account is the best account for new Forex traders. Traders can access HFM’s full range of instruments, including Forex, cryptocurrencies, metals, energies, indices, shares, commodities, bonds, and ETFs and spreads are very competitive, starting at 1 pip on the EUR/USD.

Beginners will also appreciate HFM’s award-winning customer support, available 24/5 in over 27 languages. HFM also provides a world-class repository of educational and market analysis materials, including articles, video tutorials, and frequent webinars on current events, advanced trading strategies, and chart analysis.

Pros

  • Low minimum deposit

  • Tight spreads

  • Well regulated

  • Good range of accounts

Cons

  • Limited base currencies

HFM Scorecard 2024

Trust Rating
4.5
Trading Conditions
4.5
Platforms
4.5
Education
5
Beginner Friendly
4
Assets Available
4.5
Analysis Research
5
Deposit & Withdrawal
4.5
Overall Rating
4.53
/ 5
Accepts Indian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.
Axi
4.44
/ 5
Robust Regulation and Safety
Low-Cost Trading with Advanced Tools
Comprehensive MT4 Platform Support

Min. Spread

0.0 pips

Trading Cost

USD 10

Min. Deposit

USD 0

Why we picked Axi

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With competitive pricing on raw spreads, high liquidity, and fast execution Axi is our best ECN broker of 2020. Other highlights include a detailed and well-structured course for beginners and leading market analysis for all clients. Axi combines leading ECN trading conditions on the pro account with world-class regulatory oversight.

Pros

  • Low minimum deposit

  • Tight spreads

  • Innovative trading tools

Cons

  • MT4 only

  • Limited range of assets

Axi Scorecard 2024

Trust Rating
5
Trading Conditions
4.5
Platforms
4
Education
4.5
Beginner Friendly
3
Assets Available
4.5
Analysis Research
5
Deposit & Withdrawal
4.5
Overall Rating
4.44
/ 5
Accepts Indian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA. 75.6% of traders lose money with this provider.
FxPro
4.39
/ 5
Extensive Platform Variety
Robust Regulation and Safety
Competitive Spread Betting

Min. Spread

0.4 pips

Trading Cost

USD 14

Min. Deposit

USD 100

Why we picked FxPro


Pros

  • Well regulated

  • Great platform choice

  • Tight spreads

Cons

  • Limited education

FxPro Scorecard 2024

Trust Rating
4.5
Trading Conditions
4.5
Platforms
5
Education
3.5
Beginner Friendly
4
Assets Available
3.5
Analysis Research
3
Deposit & Withdrawal
5
Overall Rating
4.39
/ 5
Accepts Indian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the SCB. 75% of traders lose money with this provider.

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Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Head of Content

Chris Cammack

Head of Content at FxScouts since 2019, Chris Cammack ensures all content meets our high standards of quality and clarity, shaping editorial guidelines and overseeing broker reviews. Chris brought 10 years of experience in research, editorial, and design for political and financial publications, and has a deep knowledge of international financial markets and geo-politics. He co-hosts the "Let's Talk Forex" podcast with Alison and writes for the news section on a regular basis.

Alison Heyerdahl

Senior Financial Writer

Alison Heyerdahl

Alison joined the team as a writer in 2021. She is the Senior Financial Writer for FxScouts. She has a medical degree with a focus on physiotherapy and a bachelor's in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, "Let's Talk Forex", alongside Chris and has produced over 100 Forex educational videos for the FxScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

Ida Hermansen

Financial Writer

Ida Hermansen

Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks. Ida's passion for crypto trading sparked a deeper fascination with Forex technical analysis and price movement. She is continually expanding her knowledge in Forex trading, staying informed about the latest trends and identifying the best trading environments for new traders.

Stefan de Clerk

Editor

Stefan de Clerk

                

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