I recommend reading our lesson, How to Choose a Broker.
You should try differnent brokers and not stick to just one since you are a beginner and you don’t have much knowledge about it. Always go for a broker which offers low spreads, low commission and less minimum deposit. If you think it can be overwhelming to go for multiple brokers, then you can choose from XM, FXTM an [removed for forums violation] Forex
Since you are a beginner so you should go for a broker which provides low commission, low spreads and which also accepts low deposits so that you don’t have to risk too much. You can definitely try [removed for forums violation] forex, eToro and Avatrade since it fulfills all the above requirement. You can even create a demo account with them to check their platform.
the one withgreat trading condition and regulation
As a beginner, a broker from Amarkets seemed to me a very good option. For me, the main advantages were the availability of a free demo mode, which became an excellent mode for learning, and also the presence of a cent account.
No perfect broker out there but at least, every trader need a genuine or decent broker that never manipulate the price to win against their traders.
I recommend trading with FP Markets, an ASIC broker. It is also one of the oldest brokers active since 2005, with over 15 years of forex business experience.
Regarding reliability, I’ve been trading with it for over nine months, and so far, I have had no issues with withdrawals or servers freezing.
I think different traders probably have different ideas about what the best broker offers, but with that being said I think that CedarFX is a good choice for beginners for a few different reasons:
-Low minimum deposit ($10)
-Only two account types, one of which is 0 commission and low spreads with no need to make a large deposit to access those conditions
-No fees charged for withdrawals
-Customer support is easily accessible 24/7
That’s why it is advisable to thoroughly check a broker’s background to know whether it is reliable and trustworthy. Most of the brokers try to attract traders with their false no intervention promises. It’s better to carefully take this crucial decision.
Yes they are one of 3 that I use.
I started with EagleFX, they had low deposit of 10US which was perfect for getting a feel for live trading and they had 500:1 leverage so i could put decent size positions as i grew. I still use them now. They are very solid
Before choosing a broker, you may want to look at
- How much do you have to pay as minimum deposit?
- How long does withdrawal take?
- Is their spread competitive?
4How about commission?
5.Reputation
I have been trading with CedarFX for some months. They accept $10 as minimum deposit. They offer 0% commission. Their spread is not that lucrative. Combining 0% commission with spread works well for traders at the end. You may give them a try.
I’m in forex for 12 years and still can’t honestly recommend a broker. Do your research very thoroughly.
I agree. Avoid brokers wich give you incentives to open an account with them. You will never know if you loose your money because of your lack of experience or because the broker cheated you.
I say DYOR, there are no shortcuts. I did an extensive research before signing up with finprotrading.
Online reviews are very helpful to a lot of newbies and I think traders should be more responsible towards their choice of brokers .
Fxview and fxcm are good to start with, trading begins at $50, both are regulated brokers with good trading conditions.
Yes choosing right payment system is important if you want to get fast withdrawals. I use Skrill with Hotforex and usually receive my withdrawals within 24 hrs
There are many brokers that will allow you to trade with the amount of money you have. You should choose a broker that fulfils your trading requirements and have decent trading costs.
I’d suggest you try their demo account and check the responsiveness of the customer support before start trading live with the broker.