Best forex brokers for beginners in Monaco in 2022

CMC Markets
4.5
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69% of retail CFD accounts lose money
Forex.com
4.4
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80% of retail CFD accounts lose money
Capital.com
4.7
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79.17% of retail CFD accounts lose money
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Best forex brokers for beginners in Monaco in 2022
CMC Markets logo
Forex.com logo
Capital.com logo
Swissquote logo
IG logo

To help you find the best forex brokers for beginners in Monaco in 2022, we first looked at 101 online brokers; then we checked and compared their fees, currency pair selection, charting tools and educational materials.

Our top 5 picks for the best forex brokers for beginners in Monaco in 2022:

  1. CMC Markets is the winner, the best forex broker for beginners in Monaco in 2022. Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
  2. Forex.com takes second place. Low forex fees. Great variety of currency pairs. Diverse technical research tools.
  3. Capital.com rounds out the top three. Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
  4. Swissquote is ranked fourth. Access to many markets and products. No inactivity fee. Rock-solid background.
  5. IG just made it on the list, taking the number five spot. First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
Best forex brokers for beginners in 2022 for Monacan citizens
Broker Info Minimum deposit Forex fee score
#1 CMC Markets Global CFD broker $0 3.7 stars
#2 Forex.com Global CFD and forex broker $100 4.6 stars
#3 Capital.com Global CFD broker $20 3.7 stars
#4 Swissquote Swiss investment bank $0 4.2 stars
#5 IG Global CFD and forex broker $0 1.8 stars

What makes a top forex broker for beginners?

  • First of all, fair forex fees.
  • A lot of currency pairs.
  • A great platform with advanced charting.
  • Educational tools to guide you through the basics of trading.


If you're a beginner, be careful with forex trading as forex products are complex and risky, therefore not suitable for everyone. You can easily lose all your invested money. If you don't know how forex trading works, take a look at our forex education articles.

If you feel a bit more comfortable with forex trading, we suggest you also check out our overall list of the best forex brokers.

And now, let's see the top forex brokers for beginners in 2022 for Monacan citizens one by one, starting with the winner, CMC Markets.

CMC Markets Logo

#1 Best forex brokers for beginners
CMC Markets

4.5

CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier UK Financial Conduct Authority (FCA). The company is also listed on the London Stock Exchange.

Having a long track record, being listed on a stock exchange and being regulated by top-tier authorities are great signs for CMC Markets' reliability.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for an advanced trading platform with many research tools

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69% of retail CFD accounts lose money

#1 CMC Markets
Fees

CMC Markets has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

CMC Markets trading fees
CMC Markets Forex.com Capital.com Swissquote IG
EURUSD benchmark fee $8.8 $5.9 $8.7 $7.1 $16.1
GBPUSD benchmark fee $5.8 $3.6 $6.6 $5.2 $9.4
AUDUSD benchmark fee $8.2 $5.6 $6.1 $6.6 $11.4
EURCHF benchmark fee $8.9 $5.8 $9.6 $5.3 $9.6
EURGBP benchmark fee $10.2 $7.1 $10.9 $7.6 $17.8

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

CMC Markets non-trading fees
CMC Markets Forex.com Capital.com Swissquote IG
Account fee No No No No No
Inactivity fee Yes Yes No No Yes
Withdrawal fee $0 $0 $0 $10 $0

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69% of retail CFD accounts lose money

#1 CMC Markets
Markets and products

CMC Markets gives access to 338 currency pairs.
CMC Markets currency pairs
CMC Markets Forex.com Capital.com Swissquote IG
Currency pairs (#) 338 91 138 80 205

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69% of retail CFD accounts lose money

Forex.com Logo

#2 Best forex brokers for beginners
Forex.com

4.4

Forex.com is a global FX and CFD broker established in 2001. Forex.com is a brand of StoneX Financial Ltd, whose parent company StoneX Group Inc is listed on the NASDAQ Stock Exchange. The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC).

Forex.com is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees and great research tools

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80% of retail CFD accounts lose money

#2 Forex.com
Fees

Forex.com has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Forex.com trading fees
CMC Markets Forex.com Capital.com Swissquote IG
EURUSD benchmark fee $8.8 $5.9 $8.7 $7.1 $16.1
GBPUSD benchmark fee $5.8 $3.6 $6.6 $5.2 $9.4
AUDUSD benchmark fee $8.2 $5.6 $6.1 $6.6 $11.4
EURCHF benchmark fee $8.9 $5.8 $9.6 $5.3 $9.6
EURGBP benchmark fee $10.2 $7.1 $10.9 $7.6 $17.8

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

Forex.com non-trading fees
CMC Markets Forex.com Capital.com Swissquote IG
Account fee No No No No No
Inactivity fee Yes Yes No No Yes
Withdrawal fee $0 $0 $0 $10 $0

Visit broker More
80% of retail CFD accounts lose money

#2 Forex.com
Markets and products

Forex.com gives access to 91 currency pairs.
Forex.com currency pairs
CMC Markets Forex.com Capital.com Swissquote IG
Currency pairs (#) 338 91 138 80 205

Visit broker More
80% of retail CFD accounts lose money

Capital.com Logo

#3 Best forex brokers for beginners
Capital.com

4.7

Capital.com is a global CFD broker founded in 2016. It has offices located in the United Kingdom, Cyprus, Australia, Seychelles and Gibraltar where each is authorized and regulated locally respectively by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority of Seychelles (FSA).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.17% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for investors and cfd traders looking for a great trading platform and excellent customer service

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79.17% of retail CFD accounts lose money

#3 Capital.com
Fees

Capital.com has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Capital.com trading fees
CMC Markets Forex.com Capital.com Swissquote IG
EURUSD benchmark fee $8.8 $5.9 $8.7 $7.1 $16.1
GBPUSD benchmark fee $5.8 $3.6 $6.6 $5.2 $9.4
AUDUSD benchmark fee $8.2 $5.6 $6.1 $6.6 $11.4
EURCHF benchmark fee $8.9 $5.8 $9.6 $5.3 $9.6
EURGBP benchmark fee $10.2 $7.1 $10.9 $7.6 $17.8

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

Capital.com non-trading fees
CMC Markets Forex.com Capital.com Swissquote IG
Account fee No No No No No
Inactivity fee Yes Yes No No Yes
Withdrawal fee $0 $0 $0 $10 $0

Visit broker More
79.17% of retail CFD accounts lose money

#3 Capital.com
Markets and products

Capital.com gives access to 138 currency pairs.
Capital.com currency pairs
CMC Markets Forex.com Capital.com Swissquote IG
Currency pairs (#) 338 91 138 80 205

Visit broker More
79.17% of retail CFD accounts lose money

Swissquote Logo

#4 Best forex brokers for beginners
Swissquote

4.6

Swissquote is a Swiss investment bank established in 1996. It has three main trading entities:

  1. Swissquote Bank - it provides all asset classes, including stocks and ETFs. This entity is based in Switzerland and has multiple regulations, including the top-tier Swiss Financial Market Supervisory Authority (FINMA). 
  2. Swissquote Bank Europe - it provides stocks, ETFs, funds, cryptos, forex, and CFD trading. This entity is based in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's regulator.
  3. Swissquote LTD - it provides CFD and forex trading. The entity is based in the UK and regulated by the Financial Conduct Authority (FCA).

The fact that Swissquote Bank Ltd has a banking license, is listed on the Swiss stock exchange, discloses detailed financials regularly, and has a long track record are all great signs with respect to Swissquote's safety. 

In this review, we focus mainly on the Swiss entity, sometimes referred to as "Swissquote Bank (CH)" and we will refer to the Luxembourg and UK-based entities as "Swissquote Europe (LUX)" and "Swissquote LTD (UK)", respectively.

Recommended for affluent investors who value safety and are ok with higher fees

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#4 Swissquote
Fees

Swissquote has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Swissquote trading fees
CMC Markets Forex.com Capital.com Swissquote IG
EURUSD benchmark fee $8.8 $5.9 $8.7 $7.1 $16.1
GBPUSD benchmark fee $5.8 $3.6 $6.6 $5.2 $9.4
AUDUSD benchmark fee $8.2 $5.6 $6.1 $6.6 $11.4
EURCHF benchmark fee $8.9 $5.8 $9.6 $5.3 $9.6
EURGBP benchmark fee $10.2 $7.1 $10.9 $7.6 $17.8

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

Swissquote non-trading fees
CMC Markets Forex.com Capital.com Swissquote IG
Account fee No No No No No
Inactivity fee Yes Yes No No Yes
Withdrawal fee $0 $0 $0 $10 $0

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#4 Swissquote
Markets and products

Swissquote gives access to 80 currency pairs.
Swissquote currency pairs
CMC Markets Forex.com Capital.com Swissquote IG
Currency pairs (#) 338 91 138 80 205

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IG Logo

#5 Best forex brokers for beginners
IG

4.4

IG, established in the UK in 1974, is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Recommended for traders of any experience level looking for an easy-to-use trading platform

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75% of retail CFD accounts lose money

#5 IG
Fees

IG has high fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

IG trading fees
CMC Markets Forex.com Capital.com Swissquote IG
EURUSD benchmark fee $8.8 $5.9 $8.7 $7.1 $16.1
GBPUSD benchmark fee $5.8 $3.6 $6.6 $5.2 $9.4
AUDUSD benchmark fee $8.2 $5.6 $6.1 $6.6 $11.4
EURCHF benchmark fee $8.9 $5.8 $9.6 $5.3 $9.6
EURGBP benchmark fee $10.2 $7.1 $10.9 $7.6 $17.8

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

IG non-trading fees
CMC Markets Forex.com Capital.com Swissquote IG
Account fee No No No No No
Inactivity fee Yes Yes No No Yes
Withdrawal fee $0 $0 $0 $10 $0

Visit broker More
75% of retail CFD accounts lose money

#5 IG
Markets and products

IG gives access to 205 currency pairs.
IG currency pairs
CMC Markets Forex.com Capital.com Swissquote IG
Currency pairs (#) 338 91 138 80 205

Visit broker More
75% of retail CFD accounts lose money

Best forex brokers for beginners
Forex broker fees

Forex brokers can charge commissions, spreads and financing fees.

When it comes to commissions, there are two different fee structures forex brokers normally use:

  1. All trading fees are included in the spread except the financing rate. Basically, think of it as the broker giving you a wider spread than it gets from the market.
  2. You get the market spread, but you pay a commission based on the traded amount. This model is usually used by ECN brokers.

The second version is more transparent, but this doesn't always mean it's more expensive.

When you trade forex on leverage and hold your position overnight, a fee will be charged. This is called financing cost. Financing costs change daily, and can add up if you hold your positions for a longer period.

Best forex brokers for beginners
Bottom line

You saw the details, now let's zoom out. Here are the top forex brokers for beginners in 2022 for citizens in Monaco:

Top forex brokers for beginners in 2022 for Monacan citizens
CMC Markets Forex.com Capital.com Swissquote IG
Fees score 3.6 stars 3.8 stars 4.4 stars 2.3 stars 2.9 stars
Markets and products score 2.6 stars 2.4 stars 3.1 stars 5.0 stars 3.5 stars
Education score 5.0 stars 5.0 stars 5.0 stars 5.0 stars 5.0 stars
Charting quality High High High High High
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69% of retail CFD accounts lose money
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80% of retail CFD accounts lose money
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79.17% of retail CFD accounts lose money
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75% of retail CFD accounts lose money

CMC Markets is our winner, the best forex broker for beginners for Monacan citizens in 2022. Low forex fees. Great web and mobile platforms. Advanced research and educational tools.

If you know enough about forex trading and are comfortable with possible risks, pick your favourite and take the next step in your trading journey. Let us know what you think in the comments section.

Still unsure? Use our broker finder to pick the best broker for you.

Author of this article

Dan Sallai

Author of this article

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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Visit CMC Markets
69% of retail CFD accounts lose money
Visit Forex.com
80% of retail CFD accounts lose money
Visit Capital.com
79.17% of retail CFD accounts lose money
Visit IG
75% of retail CFD accounts lose money
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