To help you find the best forex brokers for beginners in Taiwan 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 Taiwan in 2022:
- CMC Markets is the winner, the best forex broker for beginners in Taiwan in 2022. Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
- Forex.com takes second place. Low forex fees. Great variety of currency pairs. Diverse technical research tools.
- TD Ameritrade rounds out the top three. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- Swissquote is ranked fourth. Access to many markets and products. No inactivity fee. Rock-solid background.
- 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.
| 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 | TD Ameritrade | US-based stockbroker | $0 | 4.1 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 Taiwanese citizens one by one, starting with the winner, CMC Markets.
#1 Best forex brokers for beginners
CMC Markets
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. 65% 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
#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 | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.8 | $5.9 | $7.0 | $7.1 | $16.1 |
| GBPUSD benchmark fee | $5.8 | $3.6 | $4.9 | $5.2 | $9.4 |
| AUDUSD benchmark fee | $8.2 | $5.6 | $8.0 | $6.6 | $11.4 |
| EURCHF benchmark fee | $8.9 | $5.8 | $7.2 | $5.3 | $9.6 |
| EURGBP benchmark fee | $10.2 | $7.1 | $9.3 | $7.6 | $17.8 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#1 CMC Markets
Markets and products
CMC Markets gives access to 338 currency pairs.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Currency pairs (#) | 338 | 91 | 140 | 80 | 205 |
#2 Best forex brokers for beginners
Forex.com
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
#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.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.8 | $5.9 | $7.0 | $7.1 | $16.1 |
| GBPUSD benchmark fee | $5.8 | $3.6 | $4.9 | $5.2 | $9.4 |
| AUDUSD benchmark fee | $8.2 | $5.6 | $8.0 | $6.6 | $11.4 |
| EURCHF benchmark fee | $8.9 | $5.8 | $7.2 | $5.3 | $9.6 |
| EURGBP benchmark fee | $10.2 | $7.1 | $9.3 | $7.6 | $17.8 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#2 Forex.com
Markets and products
Forex.com gives access to 91 currency pairs.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Currency pairs (#) | 338 | 91 | 140 | 80 | 205 |
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#3 Best forex brokers for beginners
TD Ameritrade
If you are an experienced trader looking for solid research and a well-equipped desktop trading platform, we definitely recommend TD Ameritrade.
Founded in 1975, TD is one of the biggest US-based stockbrokers and is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).
This online broker is considered safe as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is overseen by top-tier regulators.
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
#3 TD Ameritrade
Fees
TD Ameritrade 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 | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.8 | $5.9 | $7.0 | $7.1 | $16.1 |
| GBPUSD benchmark fee | $5.8 | $3.6 | $4.9 | $5.2 | $9.4 |
| AUDUSD benchmark fee | $8.2 | $5.6 | $8.0 | $6.6 | $11.4 |
| EURCHF benchmark fee | $8.9 | $5.8 | $7.2 | $5.3 | $9.6 |
| EURGBP benchmark fee | $10.2 | $7.1 | $9.3 | $7.6 | $17.8 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#3 TD Ameritrade
Markets and products
TD Ameritrade gives access to 140 currency pairs.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Currency pairs (#) | 338 | 91 | 140 | 80 | 205 |
#4 Best forex brokers for beginners
Swissquote
Swissquote is a Swiss investment bank established in 1996. It has three main trading entities:
- 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).
- 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.
- 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
#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.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.8 | $5.9 | $7.0 | $7.1 | $16.1 |
| GBPUSD benchmark fee | $5.8 | $3.6 | $4.9 | $5.2 | $9.4 |
| AUDUSD benchmark fee | $8.2 | $5.6 | $8.0 | $6.6 | $11.4 |
| EURCHF benchmark fee | $8.9 | $5.8 | $7.2 | $5.3 | $9.6 |
| EURGBP benchmark fee | $10.2 | $7.1 | $9.3 | $7.6 | $17.8 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#4 Swissquote
Markets and products
Swissquote gives access to 80 currency pairs.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Currency pairs (#) | 338 | 91 | 140 | 80 | 205 |
#5 Best forex brokers for beginners
IG
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
#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.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.8 | $5.9 | $7.0 | $7.1 | $16.1 |
| GBPUSD benchmark fee | $5.8 | $3.6 | $4.9 | $5.2 | $9.4 |
| AUDUSD benchmark fee | $8.2 | $5.6 | $8.0 | $6.6 | $11.4 |
| EURCHF benchmark fee | $8.9 | $5.8 | $7.2 | $5.3 | $9.6 |
| EURGBP benchmark fee | $10.2 | $7.1 | $9.3 | $7.6 | $17.8 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#5 IG
Markets and products
IG gives access to 205 currency pairs.
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Currency pairs (#) | 338 | 91 | 140 | 80 | 205 |
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:
- 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.
- 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 Taiwan:
| CMC Markets | Forex.com | TD Ameritrade | Swissquote | IG | |
|---|---|---|---|---|---|
| Fees score | 3.6 stars | 3.8 stars | 4.2 stars | 2.3 stars | 2.9 stars |
| Markets and products score | 2.6 stars | 2.4 stars | 3.8 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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CMC Markets is our winner, the best forex broker for beginners for Taiwanese 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.
