which Forex Broker is good for new start ?
- Thread starter dirplanet
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You may also want to check out Trader's Way, FXCM and Alpari..would suggest the last for beginners..
And since you are new, you may want to read up on the free online resources, including info for beginners and go with demo. Start with demo and after you are sure you have learnt it all, move on to live account.
FYI, since the amount in question is between $20 and $100, would suggest you read up on leverages and margin. Rule of thumb: the smaller the amount the greater the P/L impact
And since you are new, you may want to read up on the free online resources, including info for beginners and go with demo. Start with demo and after you are sure you have learnt it all, move on to live account.
FYI, since the amount in question is between $20 and $100, would suggest you read up on leverages and margin. Rule of thumb: the smaller the amount the greater the P/L impact
For a start, I think you need a broker whose system is less complex. You also need a broker that will allow you to invest as little as $20 or 50$. i think PROFIFOREX allows you to open a micro account and their withdrawal is pretty fast. So, you need a good broker, and not just any broker. We are talking about real money here.
Here's an additional tip: Most brokers offer bonus with differing terms. For example the three I use, Trader's Way, FXCM and Alpari all offered bonus but the terms differed. So double check the terms when reviewing the bonus feature offered by ANY broker..some may require you to complete X number of trades before you can withdraw, etc.
I am sure Profiforex is good for a new start, I use this broker and one other broker. A new trader needs a trading platform that is very easy to use and not too complex
I started with BelforFx because they offer social trading, so while i am learning to trade by myself, i place some orders following the best traders that i pick.
Well, its not really all about low spread and low deposit, which are advantageous. It also has to do with how satisfied other traders are with a particular broker and actually the broker you mentioned is not doing a good job on that even though its very popular. Before I registered with my broker I found that the positive reviews are far greater than the negative reviews, even the negative reviews are from traders who have traded against the rules of the broker. I am still here because they offer very fast execution speed and charge only a small amount per trade.
I would recommend Paxforex due to their deep liquidity as all orders are executed at the price you set your order (this applies to pending orders). They also process withdrawals the same day (if received before 5pm, otherwise they will be processed next day). All my withdrawal requests have been executed withing a few hours. They offer great customer service and their forex course will give you a good starting point.
In the end you should pick a broker you feel comfortable with.
In the end you should pick a broker you feel comfortable with.
Granted it is always not about the spreads or deposit amount but that's perfect for newbies who prefer to trade right away. And FYI, some of the reviews are paid for, which is why you need to do the research by testing the broker with a micro account..
And remember, some of the brokers do mislead traders, they may not be a real ECN, and the list goes on. As R said, at the end of the day, opt for a broker you're sure is the real deal..
And remember, some of the brokers do mislead traders, they may not be a real ECN, and the list goes on. As R said, at the end of the day, opt for a broker you're sure is the real deal..
Its good to trade the forex market , this is because making money here is as easy as it seems , but you have to make sure that you have learned well before trading
