Many new forex brokers enter the market every year, providing traders with more options to choose from. When trading with a new broker, it is highly recommended to look at their regulatory bodies, trading platforms, tradable instruments, fees, leverage, and customer service. We compared many new brokers, so you don’t have to, and created a list of the top 10 best new brokers here.
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Specialized trading accounts
Affiliate Program
Pros
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One of the main advantages of Mirrox is the variety of account types it offers. This allows traders to choose an account that fits their trading experience and style, from beginners to more advanced users.
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Mirrox provides a maximum leverage of up to 1:400, which can be appealing for those who want to maximize their trading opportunities. This high leverage enables traders to control larger positions with a smaller investment, though it’s important to remember that it also increases the risk.
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The broker ensures multiple ways to reach support, including live chat, email, and phone. This accessibility is bolstered by 24/7 availability, meaning traders can get help whenever they need it, regardless of their time zone.
Cons
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Mirrox does not currently offer a mobile trading app, which could be inconvenient for traders who prefer to manage their trades on the go.
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The platform lacks social or copy trading features, which are popular among traders who like to follow or mirror more experienced traders’ strategies.
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Mirrox operates with a single trading platform (WebTrader), which might not appeal to traders who prefer using other popular platforms like MetaTrader 4 or 5. The lack of platform choice can be limiting for those who are used to other trading software or want to try different interfaces.
Withdrawal fee
3.5%
Deposit fee
4.1
Max leverage
1:400
Min deposit
$250
Top Regulators
No
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Available in
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Specialized trading accounts
-
Affiliate Program
Pros
-
One of the main advantages of Mirrox is the variety of account types it offers. This allows traders to choose an account that fits their trading experience and style, from beginners to more advanced users.
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Mirrox provides a maximum leverage of up to 1:400, which can be appealing for those who want to maximize their trading opportunities. This high leverage enables traders to control larger positions with a smaller investment, though it’s important to remember that it also increases the risk.
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The broker ensures multiple ways to reach support, including live chat, email, and phone. This accessibility is bolstered by 24/7 availability, meaning traders can get help whenever they need it, regardless of their time zone.
Cons
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Mirrox does not currently offer a mobile trading app, which could be inconvenient for traders who prefer to manage their trades on the go.
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The platform lacks social or copy trading features, which are popular among traders who like to follow or mirror more experienced traders’ strategies.
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Mirrox operates with a single trading platform (WebTrader), which might not appeal to traders who prefer using other popular platforms like MetaTrader 4 or 5. The lack of platform choice can be limiting for those who are used to other trading software or want to try different interfaces.
- Withdrawal fee3.5%
- Deposit fee$0
- Max Leverage1:400
Free VPS hosting
24/7 Customer Service
Very High Leverage
Pros
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Ultra-High Leverage: Capitalcore offers one of the highest leverage in the industry. Traders can get much bigger positions with 1:2000 leverage when trading with Classic accounts.
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Swap-Free Accounts & No Hidden Fees: The broker does not charge overnight swap interest or trading commissions on any instrument. The company also does not charge inactivity fees, withdrawal fees, and deposit fees unlike other brokers.
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Binary Options and CFD Trading Options: Trade 35+ forex pairs, major stock indices, metals, cryptos, and even binary options.
Cons
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Offshore Regulation: Capitalcore is not regulated by a tier -1 regulator. The company operates under an offshore IFSA regulation in St. Vincent & the Grenadines.
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No MT4/MT5 or cTrader Support: The broker only offers proprietary platforms, with no MetaTrader or other third-party platforms for those who prefer industry-standard software or automated EA trading.
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Limited Number of Tradable Assets: Capitalcore lacks many tradable assets. For example, the broker does not offer ETFs and only has limited commodities like no agricultural products.
Withdrawal fee
$0
Deposit fee
4.1
Max leverage
1:2000
Min deposit
$10
Top Regulators
No
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Available in
Expand
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Free VPS hosting
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24/7 Customer Service
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Very High Leverage
Pros
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Ultra-High Leverage: Capitalcore offers one of the highest leverage in the industry. Traders can get much bigger positions with 1:2000 leverage when trading with Classic accounts.
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Swap-Free Accounts & No Hidden Fees: The broker does not charge overnight swap interest or trading commissions on any instrument. The company also does not charge inactivity fees, withdrawal fees, and deposit fees unlike other brokers.
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Binary Options and CFD Trading Options: Trade 35+ forex pairs, major stock indices, metals, cryptos, and even binary options.
Cons
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Offshore Regulation: Capitalcore is not regulated by a tier -1 regulator. The company operates under an offshore IFSA regulation in St. Vincent & the Grenadines.
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No MT4/MT5 or cTrader Support: The broker only offers proprietary platforms, with no MetaTrader or other third-party platforms for those who prefer industry-standard software or automated EA trading.
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Limited Number of Tradable Assets: Capitalcore lacks many tradable assets. For example, the broker does not offer ETFs and only has limited commodities like no agricultural products.
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage1:2000
24/7 Customer Support
Variety of Trading Instruments
Affiliate Program
Specialized trading accounts
Pros
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Regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, ensuring compliance with industry standards.
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Offers multiple channels for contacting support, enhancing accessibility and responsiveness.
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Provides round-the-clock customer support, accommodating traders across different time zones.
Cons
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There is an absence of MT4 or MT5 platforms, which need to include features and functionalities preferred by many traders.
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Offers a less extensive list of tradable assets than some competitors, limiting investment opportunities.
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Withdrawal times can be lengthy, potentially causing inconvenience for traders requiring prompt access to funds.
Withdrawal fee
$0
Deposit fee
3.5
Max leverage
400
Min deposit
$250
Top Regulators
No
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Available in
3
Expand
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24/7 Customer Support
-
Variety of Trading Instruments
-
Affiliate Program
-
Specialized trading accounts
Pros
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Regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, ensuring compliance with industry standards.
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Offers multiple channels for contacting support, enhancing accessibility and responsiveness.
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Provides round-the-clock customer support, accommodating traders across different time zones.
Cons
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There is an absence of MT4 or MT5 platforms, which need to include features and functionalities preferred by many traders.
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Offers a less extensive list of tradable assets than some competitors, limiting investment opportunities.
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Withdrawal times can be lengthy, potentially causing inconvenience for traders requiring prompt access to funds.
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage400
4
24/5 Support
Affiliate Program
6% Interest on Funds
Commission Free Trading
Pros
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Regulated by ADGM FSRA: Nemo Money is regulated by ADGM FSRA (UAE), a highly reputable financial authority that ensures a high level of regulatory oversight. This offers traders peace of mind knowing their funds are protected in segregated accounts separate from the company’s own operational funds.
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Commission-Free Trading: Nemo stands out for its commission-free trading on its range of offered tradable assets which translates to lower trading overhead. Nemo mainly earns through spreads and overnight swap fees instead of charging commissions.
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User-Friendly Mobile App: Nemo’s mobile-first approach gives traders a seamless and intuitive trading experience. The platform offers real-time asset tracking, insights, and the ability to trade directly from your mobile device giving traders a lot of flexibility.
Cons
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Limited Leverage on Tradable Instruments: Due to MiFID-style consumer protection and regulatory restrictions, leverage on tradable assets from Nemo Money is on the lower end. Expert traders prefer high leverage to have control on bigger position sizes against their investments.
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No Swap-Free/Islamic Accounts: Nemo Money does not offer swap-free or Islamic accounts. This means you are charged an interest on the positions held overnight.
Withdrawal fee
$0 (on transactions above $1,000)
Deposit fee
4.5
Max leverage
1:30
Min deposit
$10
Top Regulators
No
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trusted
Not available in
Expand
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24/5 Support
-
Affiliate Program
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6% Interest on Funds
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Commission Free Trading
Pros
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Regulated by ADGM FSRA: Nemo Money is regulated by ADGM FSRA (UAE), a highly reputable financial authority that ensures a high level of regulatory oversight. This offers traders peace of mind knowing their funds are protected in segregated accounts separate from the company’s own operational funds.
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Commission-Free Trading: Nemo stands out for its commission-free trading on its range of offered tradable assets which translates to lower trading overhead. Nemo mainly earns through spreads and overnight swap fees instead of charging commissions.
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User-Friendly Mobile App: Nemo’s mobile-first approach gives traders a seamless and intuitive trading experience. The platform offers real-time asset tracking, insights, and the ability to trade directly from your mobile device giving traders a lot of flexibility.
Cons
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Limited Leverage on Tradable Instruments: Due to MiFID-style consumer protection and regulatory restrictions, leverage on tradable assets from Nemo Money is on the lower end. Expert traders prefer high leverage to have control on bigger position sizes against their investments.
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No Swap-Free/Islamic Accounts: Nemo Money does not offer swap-free or Islamic accounts. This means you are charged an interest on the positions held overnight.
- Withdrawal fee$0 (on transactions above $1,000)
- Deposit fee$0
- Max Leverage1:30
Specialized trading accounts
Bonus Offer
Loyalty Program
Pros
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One notable advantage is the availability of an Islamic account, which adheres to Sharia law and allows for interest-free trading.
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The broker provides multiple account types, including Basic, Advanced, Professional, and Islamic, each catering to different levels of experience and financial capabilities.
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Customer support at Strifor is accessible through several channels, including phone, email, Telegram, and WhatsApp, ensuring that help is available when needed.
Cons
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One significant risk is the potential non-return of funds in crypto payments, which may concern traders who favor digital currencies for transactions.
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The broker offers a singular trading platform, limiting choices for users who might prefer alternatives.
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The broker’s services are not available to residents of the United States, restricting access for a significant portion of potential clients.
Withdrawal fee
1%
Deposit fee
4.2
Max leverage
1:500
Min deposit
$0.1
Top Regulators
No
Add to compare list
Not available in
5
Expand
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Specialized trading accounts
-
Bonus Offer
-
Loyalty Program
Pros
-
One notable advantage is the availability of an Islamic account, which adheres to Sharia law and allows for interest-free trading.
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The broker provides multiple account types, including Basic, Advanced, Professional, and Islamic, each catering to different levels of experience and financial capabilities.
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Customer support at Strifor is accessible through several channels, including phone, email, Telegram, and WhatsApp, ensuring that help is available when needed.
Cons
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One significant risk is the potential non-return of funds in crypto payments, which may concern traders who favor digital currencies for transactions.
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The broker offers a singular trading platform, limiting choices for users who might prefer alternatives.
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The broker’s services are not available to residents of the United States, restricting access for a significant portion of potential clients.
- Withdrawal fee1%
- Deposit fee$0
- Max Leverage1:500
Advanced Analytical Tools
Flexibility in payment methods
Pros
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Livaxxen operates under the regulation of M.I.S.A., providing a level of oversight and adherence to financial standards.
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The broker offers a range of account types, catering to different trading needs and preferences.
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Traders can benefit from high leverage, up to 1:400, which can enhance potential returns, though it also increases risk.
Cons
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Despite being regulated, Livaxxen is not overseen by a top-tier financial authority like ASIC. CySEC or FCA.
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The broker does not offer popular educational resources or trading materials, which could be a drawback for beginners seeking guidance.
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Livaxxen also lacks the widely-used MetaTrader 4 and MetaTrader 5 platforms, which are standard in the industry.
Withdrawal fee
$0
Deposit fee
4.7
Max leverage
1:400
Min deposit
$500
Top Regulators
No
Add to compare list
Not available in
6
Expand
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Advanced Analytical Tools
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Flexibility in payment methods
Pros
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Livaxxen operates under the regulation of M.I.S.A., providing a level of oversight and adherence to financial standards.
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The broker offers a range of account types, catering to different trading needs and preferences.
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Traders can benefit from high leverage, up to 1:400, which can enhance potential returns, though it also increases risk.
Cons
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Despite being regulated, Livaxxen is not overseen by a top-tier financial authority like ASIC. CySEC or FCA.
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The broker does not offer popular educational resources or trading materials, which could be a drawback for beginners seeking guidance.
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Livaxxen also lacks the widely-used MetaTrader 4 and MetaTrader 5 platforms, which are standard in the industry.
- Withdrawal fee$0
- Deposit fee$5
- Max Leverage1:400
24/7 Customer Support
Very High Leverage
Pros
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Multiple Regulations: Multi-regulated broker with licenses from Seychelles (FSA), South Africa (FSCA), and UAE (SCA).
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Extremely High Leverage and Low Trading Costs: You can trade with up to 1:1000, 1:2000, and even “limitless” on special accounts with negative balance protection available. Tradequo offers spreads as low as zero pips on some major pairs (depending on the account type).
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Extensive Range of Tradable Assets: The broker gives you access to 350+ tradable instruments over forex, stocks, indices, commodities, and cryptocurrencies.
Cons
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Not Available in Certain Jurisdictions: The company does not accept clients from US, EU, UK, and Canada among others due to regulatory restrictions.
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No Call Support: Tradequo does not offer call support at the time of writing this review.
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Islamic Account Option Only Available on Request: Islamic accounts are available but not as a standard account type. They are only available upon request.
Withdrawal fee
$0
Deposit fee
4.1
Max leverage
Unlimited
Min deposit
$1
Top Regulators
No
Add to compare list
trusted
Not available in
7
Expand
-
24/7 Customer Support
-
Very High Leverage
Pros
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Multiple Regulations: Multi-regulated broker with licenses from Seychelles (FSA), South Africa (FSCA), and UAE (SCA).
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Extremely High Leverage and Low Trading Costs: You can trade with up to 1:1000, 1:2000, and even “limitless” on special accounts with negative balance protection available. Tradequo offers spreads as low as zero pips on some major pairs (depending on the account type).
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Extensive Range of Tradable Assets: The broker gives you access to 350+ tradable instruments over forex, stocks, indices, commodities, and cryptocurrencies.
Cons
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Not Available in Certain Jurisdictions: The company does not accept clients from US, EU, UK, and Canada among others due to regulatory restrictions.
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No Call Support: Tradequo does not offer call support at the time of writing this review.
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Islamic Account Option Only Available on Request: Islamic accounts are available but not as a standard account type. They are only available upon request.
- Withdrawal fee$0
- Deposit fee$0
- Max LeverageUnlimited
Multilingual Customer Support
Extensive Range of CFDs
Pros
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Extensive Range of Tradable CFDs: SuxxessFX offers around double (320+ in total) the number of tradable assets you usually get from a broker.
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No Withdrawal, Deposit, and Inactivity Fees: The trading fees from SuxxessFX are very straightforward with no fees on withdrawals, deposits, and inactivity.
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Proprietary Mobile and Browser Trading Apps: Instead of third-party trading platforms, SuxxessFX offers proprietary WebTrader and mobile trading apps.
Cons
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No MetaTrader 4 or MetaTrader 5 Options: MetaTrader 4 and MetaTrader 5 are super popular trading platforms among traders. SuxxessFX does not offer these platforms.
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Lack of Educational Resources: Brokers usually have extensive material for traders on their websites. SuxxessFX has a brief FAQs section on their website instead.
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Offshore Regulation: Even though the company is registered in Cyprus, the company operates under FSA Seychelles regulation. It could be a step to avoid strictness tier-1 regulatory bodies usually have.
Withdrawal fee
$0
Deposit fee
4.1
Max leverage
1:200
Min deposit
$250
Top Regulators
No
Add to compare list
Not available in
Expand
-
Multilingual Customer Support
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Extensive Range of CFDs
Pros
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Extensive Range of Tradable CFDs: SuxxessFX offers around double (320+ in total) the number of tradable assets you usually get from a broker.
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No Withdrawal, Deposit, and Inactivity Fees: The trading fees from SuxxessFX are very straightforward with no fees on withdrawals, deposits, and inactivity.
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Proprietary Mobile and Browser Trading Apps: Instead of third-party trading platforms, SuxxessFX offers proprietary WebTrader and mobile trading apps.
Cons
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No MetaTrader 4 or MetaTrader 5 Options: MetaTrader 4 and MetaTrader 5 are super popular trading platforms among traders. SuxxessFX does not offer these platforms.
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Lack of Educational Resources: Brokers usually have extensive material for traders on their websites. SuxxessFX has a brief FAQs section on their website instead.
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Offshore Regulation: Even though the company is registered in Cyprus, the company operates under FSA Seychelles regulation. It could be a step to avoid strictness tier-1 regulatory bodies usually have.
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage1:200
24/5 Support
Proprietary Mobile App
Pros
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A Wide Range of Tradable Assets: TradGrip offers around 250 tradable assets including forex, cryptocurrencies, stocks, commodities, indices, and ETFs.
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Multiple Tiered Accounts for All Traders: You get the option to choose from 3 live trading accounts Silver, Gold, and Platinum and a demo account.
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WebTrader and Proprietary Mobile App: Trade with the browser based WebTrader or trade from the company’s proprietary mobile trading app.
Cons
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No Swap Free or Islamic Accounts: Swap-free or Islamic accounts are not available on TradGrip. All the accounts charge swap fees for overnight positions. However, swap discounts are available on Gold and Platinum accounts.
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Offshore Regulation: TradGrip is regulated by MISA in the Union of Comoros. MISA is not a tier 1 regulator.
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No MT4 or MT5 Options: TradGrip offers WebTrader and does not offer MetaTrader 4 and MetaTrader 5 trading platforms.
Withdrawal fee
$0
Deposit fee
4.1
Max leverage
1:200
Min deposit
$250
Top Regulators
No
Add to compare list
Not available in
9
Expand
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24/5 Support
-
Proprietary Mobile App
Pros
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A Wide Range of Tradable Assets: TradGrip offers around 250 tradable assets including forex, cryptocurrencies, stocks, commodities, indices, and ETFs.
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Multiple Tiered Accounts for All Traders: You get the option to choose from 3 live trading accounts Silver, Gold, and Platinum and a demo account.
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WebTrader and Proprietary Mobile App: Trade with the browser based WebTrader or trade from the company’s proprietary mobile trading app.
Cons
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No Swap Free or Islamic Accounts: Swap-free or Islamic accounts are not available on TradGrip. All the accounts charge swap fees for overnight positions. However, swap discounts are available on Gold and Platinum accounts.
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Offshore Regulation: TradGrip is regulated by MISA in the Union of Comoros. MISA is not a tier 1 regulator.
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No MT4 or MT5 Options: TradGrip offers WebTrader and does not offer MetaTrader 4 and MetaTrader 5 trading platforms.
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage1:200
Multilingual Support
Pros
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Extensive Range of Tradable Assets: CapPlace offers around 300 tradable assets ranging from forex, cryptocurrencies, stocks, commodities, indices, and ETFs.
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Tiered Accounts for All Traders: You get the option to choose from 3 live trading accounts (Silver, Gold, and Platinum) and a demo account.
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Mobile App and WebTrader: Trade with the browser-based WebTrader or trade from the company’s app on Android and iOS devices.
Cons
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No Swap-Free or Islamic Accounts: Swap-free or Islamic Accounts are not available on CapPlace. All the accounts charge swap fees for overnight held positions.
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Offshore Regulation: CapPlace is regulated by MISA in the Union of Comoros. MISA is not a tier-1 regulator.
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No MT4 or MT5 Options: CapPlace does not offer MetaTrader4 and MetaTrader5 trading platforms.
Withdrawal fee
$0
Deposit fee
4.1
Max leverage
1:200
Min deposit
$250
Top Regulators
No
Add to compare list
Not available in
10
Expand
-
Multilingual Support
Pros
-
Extensive Range of Tradable Assets: CapPlace offers around 300 tradable assets ranging from forex, cryptocurrencies, stocks, commodities, indices, and ETFs.
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Tiered Accounts for All Traders: You get the option to choose from 3 live trading accounts (Silver, Gold, and Platinum) and a demo account.
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Mobile App and WebTrader: Trade with the browser-based WebTrader or trade from the company’s app on Android and iOS devices.
Cons
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No Swap-Free or Islamic Accounts: Swap-free or Islamic Accounts are not available on CapPlace. All the accounts charge swap fees for overnight held positions.
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Offshore Regulation: CapPlace is regulated by MISA in the Union of Comoros. MISA is not a tier-1 regulator.
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No MT4 or MT5 Options: CapPlace does not offer MetaTrader4 and MetaTrader5 trading platforms.
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage1:200
Advantages of using new forex brokers
Exploring new Forex brokers can be a smart move for traders seeking to capitalize on the latest industry trends and services. These brokers, being relatively new, often prioritize onboarding clients by offering features that set them apart from more established players.
This can include lower fees, tighter spreads, unique trading platforms, or more personalized customer support. In the list you will find a few examples of promising new brokers that have entered the market recently.
New brokers often strive to outperform established companies by offering superior services, more aggressive promotional campaigns, and innovative trading tools. However, it’s important to thoroughly research these brokers to ensure they are properly regulated and meet your trading needs.