Course › Level 1 — The tools of the trade

What is a broker? (And what is Deriv?)

You can't walk into the forex market with cash. A broker is the company that connects you: you open an account, deposit money (or use virtual money), and place your trades through their platform.

What you want in a broker as a beginner

• Regulation — licensed and audited, so your money isn't in a black hole
• Low minimums — start with $5–$20, not $500
• Local deposits — mobile money, bank transfer or P2P in your own country, not just international cards
• A free demo — practise with virtual money before risking anything

We use Deriv in this course: it's been running for over 25 years, it's the home of synthetic indices, it accepts local deposit methods across Africa and the Caribbean (mobile money, bank, P2P), and the demo account gives you $10,000 virtual to learn with — free, forever.

Disclosure: if you sign up through links on this site we may earn a commission from Deriv. It never costs you anything, and it's how this free course stays free.

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