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Which Broker Should You Actually Use? (2026)

Three brokers we partner with, ranked honestly. What matters is which markets they offer, what it costs to start, and who actually regulates them.

Read this first. The broker is not the edge. A good broker with no method just loses your money slightly more slowly. Work through the free course on a demo account before you fund anything.

1

Best for this course

The only broker here with synthetic indices, the Volatility 75, Volatility 100 and Boom and Crash markets most strategies on this site are built on. They run 24/7, including weekends, which matters if you have a job and can only trade at night.

Over 25 years old, 2.5 million-plus users, regulated across multiple jurisdictions, and it takes local deposit methods across Africa and the Caribbean. If you are following the lessons here, this keeps everything consistent.

Minimum deposit
Low, varies by method
Markets
Synthetics, forex, gold
Regulation
Multiple jurisdictions
Free demo
Yes, $10,000

Open a free Deriv demo

2

Best for forex and gold

One of the largest retail forex brokers in the world by volume, and the better pick if you mainly trade major currency pairs, gold and indices. It is well licensed for this region.

One honest caveat: the FCA and CySEC entities serve professional clients. Sign up as a retail trader and you will most likely be onboarded under an offshore entity, so you do not get UK or EU compensation-scheme cover. Normal for this category, but worth knowing rather than assuming the FCA badge protects you. It has no synthetic indices, so it will not cover the Boom and Crash lessons.

Minimum deposit
$10 standard
Markets
Forex, gold, indices
Regulation
FSCA SA 51024, CMA Kenya
Free demo
Yes

Open an Exness account

Signing up in the Exness app instead? Enter code uoavovffhu so your account is linked.

3

Lowest entry, highest risk

Its one real advantage is the entry price: a Micro account opens from $1. If funding $10 is genuinely what is stopping you from starting, that is a fair reason to consider it. The broker has run since 2006 with over a million registered clients.

Minimum deposit
$1
Markets
Forex, some synthetics
Regulation
SA arm FSCA, main entity St Vincent
Free demo
Yes

Know what you are signing up for. Its South African arm holds an FSCA licence (FSP 50691), but the main trading entity, Systemgates Ltd, is registered in St Vincent and the Grenadines, which does not meaningfully regulate forex brokers, so there is little recourse if something goes wrong. It has also previously held licences in Belarus and Belize that were revoked. It advertises leverage up to 1:1000, which is the fastest way we know for a new trader to lose an account. Deposit only what you can afford to lose entirely.

Open a WelTrade account

Signing up in the WelTrade app instead? Enter code CX76722 so your account is linked.

Side by side

 DerivExnessWelTrade
Synthetic indices (V75, Boom, Crash)YesNoLimited
Forex and goldYesYes, its strengthYes
Minimum depositLow, varies$10$1
Free demo accountYes, $10,000YesYes
Regulator for this regionMultipleFSCA SA, CMA KenyaSA arm FSCA, main St Vincent
Accepts US clientsNoNoNo
Used in this site's courseYesPartlyNo

Honestly, how to choose

Following the courseUse Deriv. Every lesson, chart and level here is built on it.
Mainly forex and goldAdd Exness for tighter spreads on majors.
Under $10 to startOnly then consider WelTrade, and start extremely small.

Whichever you pick, spend your first weeks on the demo. The traders who last are not the ones who picked the cleverest broker.

Frequently asked questions

Which broker should a beginner start with?
Start on a free demo account before funding anything. The whole free course on this site is taught on Deriv, so if you are following the lessons, Deriv keeps everything consistent. Exness is the stronger choice if you mainly want major forex pairs and gold with tight spreads. Whichever you pick, learn on virtual money first.
Is Exness or Deriv better?
They are built for different jobs. Deriv is the only one of the two with synthetic indices, the Volatility and Boom and Crash markets this site's strategies use, and those run 24/7. Exness is one of the largest retail forex brokers in the world by volume and is generally better for major currency pairs, gold and tight spreads. Many traders keep both.
Is WelTrade safe?
WelTrade has operated since 2006 and its South African arm holds an FSCA licence (FSP 50691), but its main trading entity, Systemgates Ltd, is registered in St Vincent and the Grenadines, which does not meaningfully regulate forex brokers. It has also previously held licences in Belarus and Belize that were revoked. It offers accounts from $1, which is genuinely useful if you cannot fund more, but treat it as the higher-risk option and never deposit money you cannot afford to lose.
Do these brokers accept traders from the United States?
No. Deriv, Exness and WelTrade all exclude US residents, because serving US retail traders requires CFTC registration and NFA membership. If you are in the US, see the US traders page for the legal routes.
What leverage should a beginner use?
Far less than these brokers allow. Advertised leverage of 1:1000 or more is a marketing number, not a recommendation. High leverage is the most common reason new accounts are wiped out in weeks. Risk a small fixed percentage of your account per trade, and size positions from your stop distance rather than from the maximum leverage on offer.

Learn the method first

The free course takes you from zero to your first trade, on a demo account, no deposit needed.

Start the free course Watch on YouTube