How do you pick your first broker & demo account as a complete beginner?

[benwhitecole]

Hi everyone, I'm completely new to forex/gold trading and trying to figure out where to start before risking any real money.
A few questions for those who've been through this stage:

1. What criteria matter most when choosing a broker as a beginner (regulation, spreads, minimum deposit, platform)? Are there any well-regulated brokers you'd specifically recommend for someone starting out?
2. How long did you personally spend on a demo account before going live? Was there a specific milestone (consistent profit, win rate, etc.) that told you "okay, I'm ready"?
3. Any common mistakes newbies make when picking a broker or moving from demo to live that I should watch out for?

Appreciate any advice, trying to learn the right way instead of jumping in blind.

 

[Enivid]

1. This depends on what you need. If you don't know what you need, then you shouldn't worry about this at all - it's too early for you to open a live account anyway.
2. There is no set term. You go live when you are consistently profitable on demo and know what you are doing. Sometimes, it makes sense to go live before you are consistently profitable to test your strategy on a small live account in real market conditions.
3. The most common mistake is going live without knowing what you are doing and losing your money. The second most common mistake is falling for scams that are abundant in this industry.