Discussion in 'Forex Brokers' started by Elmira Nancy, Nov 16, 2009.
Which is the best forex broker to start Forex Trading?
That depends on what are you looking for in your broker. Is it small minimum account size? Flexible trading volume per position? Regulation? Specific trading platform?
You have to know your financial limits and trading preferences to be able to figure out which broker is the best for you.
if i was you i will chose InstaForex or Alpari
I think for begginer is eToro
I think a broker that suits us is what we should go for, Our circumstances would determine which one to choose. So first, we should analyze ourselves before we get one. It mustn't necessarily be popular, but one we can be comfortable with. There is no reason more why i went for Profiforex, than reason above.
Brokers with small intial minimum deposit are best for starting like HotForex ($5), Exness ($25), FXCM ($20), RoboForex ($10).
I would recommend you Weltrade broker.. You can start with a demo account and then - a micro account from $25. They have good 24/7 support, fast execution, no slippage or requotes.
etoro and instaforex has lots of gray areas surrounding them, and scary stuff after the liberty reserve issue, alpari is good but they can be a bit to strict with your style of trading and some reports say they cancel order instead of adjusting it. so its better to make a list and research about them, make sure the broker is regualted and start small. or stick with demo. no broker should ask money for demo trading so be careful
That depends largely on you.Do you love scalping, hedging, big bonuses etc. There is necessarily no best broker for a starter since everyone could have different interests in the market. But basically what to watch for are his spreads, minimum deposits, software in operation, platform, customer support, trading operations supported etc. Most of all is the transparency of the broker in question. A honorable broker is he who honors the account of his clients. Once he does this, he is clean and ready for your trust and use regulated or not.
You can check online for reviews on most brokers, each broker will offer diff types of accounts and the same applies to leverages. I use Trader's way, FXCM and Alpari - the first two are great but alpari not so much and their CS sucks.
Anyway, just check out some of the independent broker review sites, check out what's on offer, do the research and remember to start small. And what works for another trader need not necessarily work for you - simply put, you need to take the call!
There are some points, if you keep them in mind you will find out the best broker. Here are the some points
Payment and withdrawal methods
I think you should start with eToro since it's really easy to use and beginner-friendly.
Else, I'm trying this new platform xCFD? they don't have study guides so it might be a little tough finding your way, but they do give good bonuses.
The best way for beginners who are starting on forex is to contact National Futures Association. (This organization monitors brokerage firms and brokers in the currencies market.)
When i start out i didn't know this. What i did was do a research on brokers and check how reliable the broker is.
Set a target of what your ideal brokers, check forums and forex websites for traders feedback.
After doing this, try signing up with their demo account. to check how will your broker will perform in the forex world.
That's really a good suggestion, my friend. Upcoming traders should do a good
research to better find a broker can offer them exactly the services they need. will advice newbies to be more vigilant when it comes to searching for right broker.
Thank you @miles I hope we were able to help new traders who are learning new things on Forex.
I will advise traders especially newbies to do a good research and forums also is better place to find the best broker of your choice. A broker that can offer you pleasant services and trading conditions. Right now, I'm using profiforex as the broker of my choice, because I'm satisfied and fine with their good service. Most especially, Their good costumer support and fair withdrawal without delaying.
Very good advice.One should do his own reseach and background check of his broker of choice,I think it is due diligence on our part.And demo are really good to test a broker's platform and features.
I think so, demo accounts can be used to find out the advantages and disadvantages of brokerage. We recommend that you use a broker who has a good server speeds that will provide benefits for traders
As for me, you would need a straight forward broker that can be honest with you and give you all the necessary services like major currency pairs, low spread, minimum deposit for you trade with micro account if you don't have much money to start. I'm certain about it that my broker can do more all this I have mentioned.
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