Best Forex Brokers for Beginners in Ukraine 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top Forex brokers for beginners based on our analysis:
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Libertex - Best Forex trading broker for beginners in Ukraine - Tight spreads and attractive trading conditions. Wide selection of trading assets. Rich selection of educational materials and analytics. - 2
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 3
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 4
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HF Markets - Regulated by reputable financial authorities. Wide selection of trading assets. A variety of educational materials and analytical reviews. - 6
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 7
InstaForex - Large selection of trading instruments. PAMM accounts and the ForexCopy automatic trade copying service for passive income. 24/7 efficient customer support. - 8
Fibo Group - A wide selection of trading and investment accounts. Low spreads, which facilitates more profitable trading. A wide range of payment methods. - 9
LiteFinance - A variety of analytical tools. Extensive educational materials. 24/5 technical support. - 10
Gerchik & Co - Transparent information about the broker's owners. A large number of trading accounts. Decent services that can help improve Forex trading.
These selected brokers distinguish themselves through consistent reliability, fair pricing, and prompt customer support, making them an excellent choice for newcomers to the foreign exchange market.
Top 10 Forex Brokers for Beginners in Ukraine
For beginners in Ukraine, selecting a trustworthy and user-friendly Forex broker is essential. We have evaluated market trends, customer support, educational resources, and other key factors to create a list of brokers that offer an ideal platform for new traders.
1. Forex Club Libertex
Libertex is an established broker offering various trading instruments and educational resources. With zero commission on deposits and various analytical tools, this broker can appeal to novice and experienced traders.
Pros and Cons of Libertex
Pros
- Tight spreads and attractive trading conditions.
- Wide selection of trading assets.
- Rich selection of educational materials and analytics.
Cons
- High swaps and inactivity fee.
2. RoboForex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
3. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
4. Admirals
The broker Admirals is suitable for a broad spectrum of traders. With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.
Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.
Pros and Cons of Admirals
Pros
- Low trading fees.
- Wide range of payment methods.
- Extensive analytical resources.
- A rich collection of educational materials.
Cons
- Inactivity fee.
- Some users complain about the intrusiveness of the support service.
5. HF Markets
HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets
Pros
- Regulated by reputable financial authorities.
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
6. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
7. InstaForex
InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.
InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.
Pros and Cons of InstaForex
Pros
- Large selection of trading instruments.
- PAMM accounts and the ForexCopy automatic trade copying service for passive income.
- 24/7 efficient customer support.
- Wide range of methods for depositing and withdrawing funds.
- Decent analytical section.
Cons
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
8. FIBO Group
FIBO Group is suitable for various types of traders, including beginners and experienced ones. The broad selection of accounts and trading platforms allows every trader to find an appropriate solution. Additionally, educational materials and analytics will aid in skill development and making informed trading decisions.
The broker offers competitive trading conditions, various instruments, and robust support. However, fees and the absence of certain assets may limit its potential.
Pros and Cons of Fibo Group
Pros
- A wide selection of trading and investment accounts.
- Low spreads, which facilitates more profitable trading.
- A wide range of payment methods.
- Availability of various trading platforms.
- Comprehensive analytics and educational materials.
Cons
- An inactivity fee.
- Withdrawal fees.
- The absence of stocks and ETFs in the range of instruments.
9. LiteFinance
LiteFinance is a broker that actively invests in analytical and educational resources, providing its clients access to the economic calendar, daily forecasts, and analytics from Claws&Horns. These resources can significantly assist traders in developing their trading skills and strategies. The 24/7 technical support ensures that help is always on hand when needed, which is especially valuable for beginners and those who trade in various markets worldwide.
LiteFinance will be most suitable for beginner and intermediate-level traders who can make the most of the educational and analytical resources offered. It will also suit those who prefer to use standard trading platforms and do not plan to trade cryptocurrencies or soft commodities actively.
Pros and Cons of LiteFinance
Pros
- A variety of analytical tools.
- Extensive educational materials.
- 24/5 technical support.
Cons
- High trading fees.
- Lack of certain trading assets.
10. Gerchik & Co
Gerchik & Co. serves as a commendable platform for traders of all levels. The wide array of trading instruments and platforms makes this broker attractive to novices and seasoned traders.
The educational materials provided by the broker can be particularly beneficial for beginners and those looking to deepen their knowledge. In addition, the broker offers a variety of technical support communication options, which can be valuable for traders requiring immediate assistance.
This broker is suitable for novice and experienced traders due to its comprehensive approach and attention to detail regarding trading and education.
Pros and Cons of Gerchik & Co
Pros
- Transparent information about the broker's owners.
- A large number of trading accounts.
- Decent services that can help improve Forex trading.
- Educational courses, webinars, analytics.
- Opportunity for passive income on TIMA accounts.
- Contests on demo accounts and broker promotions.
Cons
- High commission for transactions on certain types of accounts.
- The website and personal account area may seem inconvenient (according to reviews).
- High deposit requirements for training or using services.
Key Considerations for Beginners When Choosing a Forex Broker
Regulatory Compliance. Ensure your broker is regulated by reputable financial authorities. This provides a layer of protection, ensuring your funds are held securely and fairly.
User-Friendly Trading Platforms. Platforms with intuitive interfaces, such as MetaTrader 4 and MetaTrader 5, help beginners quickly adapt and make informed trades.
Understanding Forex Trading Basics. Learning the basics—currency pairs, leverage, and margin—is essential before placing real trades. Look for brokers offering e-books, webinars, video tutorials, and market analysis to help you understand market movements and technical concepts.
Exploring Copy Trading as a Learning Tool. Some brokers support copy trading or social trading features, allowing beginners to follow experienced traders. This can be a valuable way to learn strategies and gain confidence.
Accessible Demo Accounts. A demo account lets you practice trading without risking real money. This feature is invaluable for building skills and developing strategies.
Low Minimum Deposit Requirement. Start small. Beginners should look for brokers with low minimum deposit requirements to minimize financial risks.
Reliable Customer Support. Quality customer support is vital. Beginners often need guidance, and having prompt assistance can prevent costly mistakes.
Transaction Costs. Consider spreads, commissions, and swap rates. Finding a balance between low costs and reliable execution can enhance profitability.
Withdrawal and Deposit Methods. Convenient, fast, and secure transaction methods are essential. Check the broker’s payment options and related fees to ensure smooth fund transfers.
Tips for Beginner Traders
- Start with a demo account before risking real capital.
- Focus on a few currency pairs to understand their nuances.
- Maintain a trading journal to track progress and refine strategies.
- Use risk management tools like stop-loss orders.
- Continuously educate yourself through courses, webinars, and online forums.
How the List of the Best Forex Brokers for Beginners in Ukraine is Compiled
The compilation of Forex brokers ideal for beginners was carefully curated using specific criteria to ensure its reliability and relevance.
Our rankings are based on a thorough analysis of our comprehensive Forex broker list, employing a unique methodology designed to assess service quality and user-friendliness.
Key criteria in the selection process included the presence of high-quality educational materials, quick and efficient customer support, and easy-to-use, intuitive interfaces for trading platforms and personal accounts. These factors are especially crucial for those new to Forex and CFD trading.
Additionally, all brokers listed are verified for compliance with strict reliability standards and offer a seamless trading experience. Importantly, every broker on this list welcomes Ukrainian traders.
FAQ
How Do I Start Trading Forex in Ukraine?
To start trading, choose a regulated broker, open a trading account, deposit funds, and begin practicing on a demo account before moving to live trades.
What is the Minimum Investment to Begin Forex Trading in Ukraine?
It varies by broker, but some allow starting with as little as $10. Always start with an amount you can afford to lose.
Can I Learn Forex Trading on My Own?
Yes, many beginners are self-taught using online resources, educational materials, and demo accounts. Patience and consistent practice are key.
What are the Most Popular Currency Pairs for Beginners in Ukraine?
EUR/USD, GBP/USD, and USD/JPY are common choices for beginners due to their liquidity, low spreads, and the abundance of market information available.
Is Forex Trading Profitable for Beginners in Ukraine?
Profitability depends on your trading plan, discipline, risk management, and continuous learning. While success is possible, it requires time, patience, and effort.
What Kind of Software Do I Need for Forex Trading?
Most beginners start with MetaTrader 4 or MetaTrader 5. These platforms offer user-friendly interfaces, charting tools, and analytical features suitable for newcomers.
How to Choose the Best Account Type for Beginners in Ukraine?
Opt for a basic account with low minimum deposits and low transaction costs. Some brokers even offer cent accounts, allowing you to trade with minimal financial exposure.
