Traders Union (TU) analysts have prepared a comparative analysis of the best brokers Guyana in 2024. Experts performed the analysis taking into account the specifics of trading in the country. In their evaluation, TU experts use over 100 criteria that are split into groups. They have collected all the necessary data providing a possibility for novice traders from Guyana to give an unbiased evaluation to a broker. Using this information, a user can choose the company that meets his criteria.
The Most Reliable Brokers Guyana by TU include the following:
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.
Pocket Option is an unregulated broker focused on cooperating with professional traders who do not need training or additional bonuses.
XM Broker is a broker for professional trading. Trading conditions correspond to the average market; there are technical advantages that distinguish XM Broker from its competitors.
Deriv is a broker for beginners and professional traders who prefer to make trades on their own, as well as use auxiliary programs for more efficient trading.
Best forex brokers for beginners in Guyana in 2024
| Exness | FBS | Pocket Option | XM Group | Deriv | |
|---|---|---|---|---|---|
Trading platform |
MetaTrader 4/5 (desktop, web, and mobile), Exness Terminal (web), and Exness Trade App (mobile) |
MetaTrader 4, MetaTrader 5, FBS Trader |
МТ5, proprietary platform |
МТ4, МТ5 (desktop, web, and mobile versions), and XM App for smartphones and tablets |
Deriv MT5, Deriv X, Deriv Trader, SmartTrader, Deriv bot |
Min deposit |
$10 |
$1 |
$5 |
$5 |
$5 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
Accrual of % on the balance |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Spread |
From 1.0 points |
From 0.2 points |
From 1.2 points |
From 0.6 points |
From 0.0 points |
Level of margin call / stop out |
0% / 60% |
40% / 20% |
30% / 50% |
100% / 50% |
100% / 50% |
Execution of orders |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
$5 |
No |
No |
No |
Cent accounts |
No |
Yes |
No |
Yes |
No |
There are certain specifics in trading, which novice traders residing in the territory of Guyana need to know about:
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Novice traders need educational courses. The bigger the educational blocks, the more useful knowledge you will gain.
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Take notice of the availability of a demo account or a cent account. Traders can use these accounts to practice without considerable costs. A demo account allows you to work with virtual money, and a cent account - with micro lots, where your profit or loss amounts to just several dollars or even cents.
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When choosing a broker, it is important to evaluate its fees schedule. Novice traders should check out the fees on cent or basic accounts.
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If a novice trader professes Islam, he needs to make sure that an Islamic account is available. it is a special swap-free account that does not violate the Sharia law.
1
Best Forex broker for beginners in Guyana - Exness
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
👍 Advantages of trading with Exness for traders from Guyana:
•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;
•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees;
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders from Guyana:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
Exness Commissions & Fees for traders from Guyana
Exness charges trading fees. The fees are charged as the spread. In the fees review for traders from Guyana, you can learn about their rates depending on the account type.
Exness Commissions and Fees in Guyana
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard Cent |
$0.3 |
No |
Standard |
$3 |
No |
Standard Plus |
$10 |
No |
Raw Spread |
$0 |
No |
Zero |
$0 |
No |
Pro |
$1 |
No |
2
Best Forex broker for beginners in Guyana - FBS
FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.
👍 Advantages of trading with FBS for traders from Guyana:
•negative balance protection;
•a large selection of trading instruments;
•the support service works 24/7.
👎 Disadvantages of FBS for traders from Guyana:
•no cryptocurrency;
•auto copying is not available;
•no PAMM accounts;
•not suitable for short-term trading, such as scalping;
•the support service works in a limited number of languages;
•only two real accounts.
FBS Commissions & Fees for traders from Guyana
FBS charges trading fees. The fees are charged as the spread. In the fees review for traders from Guyana, you can learn about their rates depending on the account type.
FBS Commissions and Fees in Guyana
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
From $1.7 |
No |
Cent |
From $1.3 |
No |
3
Best Forex broker for beginners in Guyana - Pocket Option
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.
👍 Advantages of trading with Pocket Option for traders from Guyana:
•low threshold for entering the market; the first deposit starts at $5;
•social trading platform generates passive income.
👎 Disadvantages of Pocket Option for traders from Guyana:
•not licensed by any reputable regulator;
•to trade Forex through MetaTrader 5, you need to deposit at least $1,000;
•support service responds within 24-48 hours, which is also too slow.
Pocket Option Commissions & Fees for traders from Guyana
Pocket Option charges trading fees. The fees are charged as the spread. In the fees review for traders from Guyana, you can learn about their rates depending on the account type.
Pocket Option Commissions and Fees in Guyana
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Novice trader |
No |
Yes, when withdrawal with Perfect Money |
Beginner |
No |
Yes, when withdrawal with Perfect Money |
Experienced |
No |
Yes, when withdrawal with Perfect Money |
Master |
No |
Yes, when withdrawal with Perfect Money |
Professional |
No |
Yes, when withdrawal with Perfect Money |
Expert |
No |
Yes, when withdrawal with Perfect Money |
MT5 Forex |
From 1.1 pips |
Yes, when withdrawal with Perfect Money |
4
Best Forex broker for beginners in Guyana - XM Group
XM Group is a globally recognized broker, operational in nearly 190 countries and serving over 5 million traders. The broker offers over 1,000 trading instruments, including Forex pairs, stocks, commodities, cryptocurrencies, and precious metals. With licenses from regulators like ASIC and CySEC, XM ensures a secure trading environment.
The company is committed to high-speed order execution without requotes, ensuring 99.35% of trades are completed nearly instantly. The broker's leverage varies by region, offering up to 1:1000 for some non-EU countries while maintaining strict compliance with European standards for others. The spreads start from 0.6 pips.
XM doesn't offer passive investment options like PAMM accounts but provides access to MQL5 copy trading and a VPS for algorithmic trading.
👍 Advantages of trading with XM Group for traders from Guyana:
•XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
•no “markup” on narrow market spreads (broker's margins over the spread);
•over 1,000 trading instruments. Available for trading are: more than 55 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
•no commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
•around the clock support for 5 days a week in more than 30 languages.
👎 Disadvantages of XM Group for traders from Guyana:
•passive investment services (social trading platform, PAMM accounts);
•expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.
XM Group Commissions & Fees for traders from Guyana
XM Group charges trading fees. The fees are charged as the spread. In the fees review for traders from Guyana, you can learn about their rates depending on the account type.
XM Group Commissions and Fees in Guyana
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
XM Ultra Low Micro |
From 6 USD |
No |
XM Ultra Low Standard |
From 6 USD |
No |
XM Zero |
From 0 USD |
5
Best Forex broker for beginners in Guyana - Deriv
Deriv is a brokerage company that started its activities in 1999. Deriv's mission is to make trading accessible. For this reason, the company has low minimum deposit requirements, but high-quality working conditions. DTrader is one of the broker's several proprietary trading platforms. Two others are Deriv bot and Deriv MT5. Deriv offers its clients to trade Forex assets, stocks, indices (including synthetic ones), CFDs, commodities, and options. Deriv is an international broker licensed and regulated by the following bodies: Vanuatu Financial Services Commission (VFSC, 14556), Malta and Labuan Financial Services Authority (MFSA, 71479 and Labuan FSA, MB/18/0024), BVI FSC (SIBA/L/18/1114). The rights of traders are guarded by the Financial Commission, of which Derive is also a member.
👍 Advantages of trading with Deriv for traders from Guyana:
•Low level of the minimum deposit.
•A wide range of payment agents for replenishment of the deposit and withdrawal of earned funds.
•Availability of trading instruments of different groups: currency pairs, stocks, indices, metals, etc.
•Broker regulation by several authorities from different countries.
•Round-the-clock client support.
•Choice of three convenient trading platforms.
•No commission for maintaining a trading account and using its platforms.
👎 Disadvantages of Deriv for traders from Guyana:
•The tutorials provided on the site may not be enough for novice traders.
•Deriv has only a few ways to contact support.
•The broker does not serve clients from several countries, such as the USA, Canada, Malaysia, Israel, and others.
Deriv Commissions & Fees for traders from Guyana
Deriv charges trading fees. The fees are charged as the spread. In the fees review for traders from Guyana, you can learn about their rates depending on the account type.
Deriv Commissions and Fees in Guyana
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Real account |
From $1 |
Yes - established by trading platform and payment system |
Fees and Commissions
When choosing a broker, it is very important to evaluated the structure of its fees. The fees are the main source of income for brokerage companies.
The brokers usually charge two finds of fees: spread and lot fee.
Spread is more popular than the lot fee. However, the type of fee depends on the trading account. Make sure you review the conditions.
The lowest spreads are always found on ECN accounts. Availability of such account types is an important advantage for any broker.
The type of fees can depend on your trading strategy, but a detailed calculation needs to be performed anyway.
The fees charged by brokers often vary depending on the trading account type and also the instruments a trader works with. The higher the popularity and liquidity of certain instruments, the narrower the spreads or the lower the fees per lot.
Summary
Choosing the right broker is not a simple task for new traders in Guyana, as they have to take into account many nuances. Each of those could considerably impact your trading successes or your profit. Trading instruments that the broker offers traders from Guyana, trading conditions and the quality of educational materials need to be evaluated. Availability of a demo account or a cent account you can use to practice is an important advantage. Keep in mind that before opening a position, you need to assess its risk level.
Top Forex brokers for beginners in 2024 for traders from Guyana
| Exness | FBS | Pocket Option | XM Group | Deriv | |
|---|---|---|---|---|---|
Overall score |
7.58 |
8.28 |
6.87 |
8.28 |
8.48 |
Execution of orders |
9.6 |
9.5 |
9.52 |
9.35 |
9.55 |
Investment instruments |
8.79 |
6.96 |
4.29 |
8.7 |
8.73 |
Withdrawal speed |
8.79 |
9.57 |
9.64 |
7.9 |
9.54 |
Customer Support work |
9.29 |
7.58 |
4.38 |
8.5 |
5.94 |
Variety of instruments |
8.02 |
7.02 |
6.01 |
8.02 |
9.27 |
Trading platform |
1 |
9.03 |
7.38 |
7.2 |
7.82 |
FAQ
What amount does a novice trader need in order to start trading?
It depends on the account type. For a cent account, USD 50 is enough. For trading on a real account, it is better to deposit at least $300-500.
How do I choose a reliable broker Guyana?
According to the requirements of country Guyana, a broker must disclose all information, including the name, registration data, legal address, etc. License for financial activity is the key document.
Should I accept the bonuses for beginners?
Bonuses for beginners can make trading more profitable, but before accepting a bonus, make sure you read the conditions for receiving bonuses by traders from Guyana.
Can a beginner earn passive income in the Forex market while he is learning?
Yes. For example, you can use PAMM accounts or copy trading platforms. Make sure that these kinds of investment opportunities are available for traders from Guyana.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.