Forex Brokers for Beginners

Enivid

Administrator
Staff member
Nov 30, 2008
16,440
903
144
Odessa
www.earnforex.com
Yeah searching for one especially for a beginner can be quite overwhelming. Been there and spent a few good months to finally settle for hankotrade. Firstly, it’s an ECN broker, something that I’ve always preferred and then the multiple financial instruments for MT4s mobile and desktop versions quite well diversified my portfolio and skills.
The commission free trading, tight spreads, fast execution speed, and super fast customer support team sealed the deal for me.
You forgot to mention that it's a completely new (no reputation) unregulated broker that doesn't even have contact phone number on their website. That's like a recipe for getting scammed in the online Forex industry.
 

RaviTeja

Banned
May 31, 2021
17
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Currently, I trade using a demo account and looking for a reliable broker with a minimum opening balance of $200 or lower with micro-lots. Any good broker recommendations?
 

Glossy

Trader
Aug 2, 2021
42
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Poland
I believe that for those who have come to forex, the best place to start is investing.
 

Morgan909

Newbie
Nov 4, 2021
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0
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I have been trying several brokers since my initial days in the forex market. I tried Exness as its spreads are tight. The standard account has no commission charges, but the professional account comes with charges of $3.5. After a few months, I tried another regulated broker that is Nadex. It was their commission that attracted me which is $1 charged from entry and exit from trade. They do not have crypto trading on the live account. On my friend's recommendations, I tried Coinexx - an unregulated broker. The spreads were tighter and the commission charges were lower at $2 per standard lot round turn. They allow crypto trading, but with fewer crypto pairs.
 
Aug 5, 2021
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I don't think there's any single broker that is best for beginners, but there are conditons that would be advantageous to beginners. For example, a low deposit requirement in case someone wants to start with a small deposit, easy to reach customer support in case they have a problem, quick withdrawals in case they are in a hurry to get their money (as many beginners may be tight on funds), and low costs so that they wind up with more profits in their pocket. These are just a few examples and are honestly conditions that I think we'd all look for.
 

SOLIDECN

Trader
Nov 16, 2021
418
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Hello everybody,

As you are aware, the forex market comes with accounts verity. I suggest Micro and Cent account types for starters. With a standard or ECN account, the minimum trade size is 0.01 lots (1,000 of the base unit) which is considered aggressive if one has less than a thousand dollars on balance!

So first thing first, choose the right account type.

I'm new to this forum, and I'm not sure if I can name a broker.
 
Aug 5, 2021
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I think the best advantage for beginners may differ than the best advantages for more experienced traders. For example, a beginner may benefit from a smaller deposit requirement and may not need as high leverage as someone that has been trading for a while. I'd also imagine that many beginners would need quick deposits if money is tight, but I think most of us prefer that anyways.
 

sunar14

Banned
Jan 17, 2021
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Currently, I trade using a demo account and looking for a reliable broker with a minimum opening balance of $200 or lower with micro-lots. Any good broker recommendations?
Exness, Tickmill, Hoforex. I think min deposit requirement is even low. The rule of thumb is to focus on broekrs with FCA license.