Iam a South African looking for a broker, which one is for beginners like me who is graduating ………… I need a few:grimacing:
Hey there, you have to be very specific to what you are looking for.
Choose the broker carefully. Test their services first.
I see myself as a swing trader,I need low overnight cost ,low transaction fee for holding trades. And of course registered with a regulatory agency
I believe in being honest so I have to say I believe you are lazy. If you have internet access you can do your due diligence yourself instead of requesting to be spoonfed. That being said do your research on trustpilot and forex peace army. Good luck.
I can help you out to note down the best trading conditions for you and then you can look around for the brokers who offer you these conditions.
- Ultra tight raw ECN spreads
2 Low commissions (there are couple of brokers offering only $2 commission for a complete trade)
- a couple of trading platforms to choose from (Mt4, mt5 etc)
Turnkey forex accepts South African clients. Their services are good and the broker is genuine. I usually trade indices on their MT4 platform and never faced any latency issues. I used Oanda which is another decent broker but it’s spreads were comparitively higher due to which I switched to Turekyforex.
You should use Tenkofx. It is very easy to set up and account, and everything is low including spreads and withdrawal fees. I expect a thank you for this recommendation because you wont be disappointed.
I’m gonna give it a try:thinking:
Since you are just begining, you should try to get on board with some of the brokers and try their demo accounts first, so that you have an idea about how things actually work at their end along with their platforms. Coinexx, XM and Hotforex are some of the brokers that provide excellent trading conditions that act as the stimulus to trading.
Like i said earlier in another thread it`s very personal. Depends from your personal preferences but in your case you can look at mine broker - EagleFX. Good conditions but also a very good client support which is very important in your case.
I can confirm this too. Tenkofx is a good broker to start with. i only started using it last year, and am very satisfied with their mt4; fast execution.
As he described himself as a student, I think he would like to go for a low cost broker and where he can deposit few bucks and trade. My main accounts are with IG and Coinexx. With IG, you will need at least $250 to open an account and for me the broker is little expensive. I will suggest you Coinexx, you can open an account with just $10 and with good low spreads their commission is also just $2 per lot round trip. Let us know if there is any specific you are looking for other than this?
I will suggest you to go for a broker which allows you to trade with an amount as low as $10 or $20 since in the beginning you don’t want to risk too much. You should also consider commission, spreads and then comes the trade execution. I am currently using Hot forex, Turnkey forex and forex.com. These offer flexible trading conditions with low spreads but if you want to start with a smaller amount which is less than $100 then you should go for Hotforex and Turnkey forex.
Although you need to do your own extensive research before you choose a broker, I will suggest you to go for a regulated broker that has tight spreads and a low commission structure. A have a few brokers in mind. You can direct message me for more information. I will be happy to help
What’s wrong with asking for a broker recommendation in a category that focuses on forex brokers? I don’t think that’s lazy. Hearing feedback from other people that can give positive or negative comments from experience is a great way to avoid making the same mistakes.
I’m guessing you might have already found a broker considering that this post is nearly a month old, but let me know if you’re still looking as I know of a few great brokers from firsthand experience. Good luck trading!
Beginner forex trader in the house, welcome aboard. Start with demo forex trading with some virtual cash. Brokers like hankotrade and lmfx have good simulation of the forex trading platform with all the features just like real trading. Good luck on your forex journey!