Hi guys, just wondering what the best broker is for a beginner to learn trading , when I’m ready to start trading I be starting off with about 500 pounds, I know I need to learn and I’m not stupid to jump in straight away thank you
U can try oanda. It good
try xm.com broker is good
if u from europe (pounds), fxcm is good
Try loads of different demo accounts. Some companies range in spreads dramatically and depending on your strategy/ style can be the difference between a blown account and getting some pips in the bag.
I trade with ICMarkets on the ctrader platform (demo). I really like it, tried a few brokers with MT4 and MT5 but I personally feel more comfortable with the ctrader platform.
It’s a personal choice so try out as many as you can and find out what you like.
Also, other brokers use ctrader, not just ICMarkets.
All the best.
Don’t know best broker - but one good rule is to stay away from brokers who offers BONUS when signing up. My best experience so far has been ICmarkets.
Stay away from FXCM…
You can’t get one particular broker that is the best, they have their strengths separately and of course their weaknesses. Just try and develop a style in the market and choose a broker that matches that. The best you can do is start to demo trade with the one you have narrowed down and see how it turns out.
One other thing, a mistake I did was starting out with a small amount like you. Blew the account, and transferred more small amounts. In the end the small amounts suddenly was a large sum of money. Don’t to the same mistakes. Use DEMO until you understand everything and you have a good working strategy.
Its a battle out there and you are fighting against Goliath - arm yourself with knowledge and when you are ready, only then attack =)
And one other thing, do not trade on “gut feelings”. Every trade has to have a reason - remember that.
Also do some homework on risk-management and do some reading on 1:3 ratio strategy - it works!
when you are trying to choose a medium to reach the market as a new baby then you must try to pick one credible broker. Otherwise your capital can be at stake. And of course, as a stakeholder of forex, you must try to choose an experienced and regulated broker.
I suggest to look for certain things before choosing a broker for you like:
• Regulatory Compliance
• Leverage, Margin, Commission and Spreads
• Initial deposits, Ease of deposit and withdrawal
• Trading instruments
• Trading Platforms
• Type of Accounts they provide
• Costumer Service like live chat or calling.
And I personally suggest you to search for a broker who provides you the demo account before start trading in live account in order to learn trading strategies and to avoid loss if you are not much aware with trading yet.
It will be better; if you tried 5-6 top Forex brokers (demo trading) in your country; then judge all of companies based on your experience. After words go for the live trading.
You should try Oanda or Forexchief broker. Both are very good brokers.Try and open a micro account for a start.
Babypips has a very good Brokers section, I recommend going through it before making any decisions.
Hi Gracie, best reply I have seen, but who do you use? Or can you name a few please. Thanks
FXCM I am currently testing this broker in demo and so far it has worked well, is good also.
why? Plz tell us
Why should someone stay away from fxcm
The spread is too high; not suitable for the scalpers; according to me.
The decision in trading will affect the final result. If traders felt the decision he made, he would be trading with excessive fear and make a final decision that is less logical. Successful traders do not regret the decision that has been made. Make trading decisions can be trained, and wise decision resulting from a positive way of thinking without engaging the emotions. You should always hold on to strategy and trading plan without hesitation.