Best forex broker for trading micro lots?

Broker Discussion
1

Hi, im just getting back into trading and wanting to start a live account and trade very small to begin with.

Who would people suggest is best to go with to trade small amounts? I am based in the UK

I know some will say just trade demo, but i don’t feel like it replicates live trading where actual money is on the line.

Thanks

3

My opinion would be to trade with a reliable broker like FP Markets or CMC because the commission costs are lower, and they have a minimum opening balance as well.

4

You are right about demo not really giving that feel of live trading. So you decision is the right one. Get a micro or cent account from any broker. Forexchief has ECN micro account with minimum deposit between $20 to $50, and a 500% bonus I think. Then you can add up and use this fund to practice. Stick to small lots, not greater than 0.05 lot.

5

How long has it been since you last traded? If it has been a very long time, then I think you should start with a demo account with different brokers, see how their trading conditions are, and eventually open a live account with the one whose trading conditions you like the most.

I will personally recommend Coinexx, Turnkey Forex and IC Markets since they all have superb trading conditions. I have been with Coinexx for some time now and recently opened accounts with Turnkey Forex and IC Markets to diversify my funds. All the best.

6

I think it is also vital to add the 1:1000 leverage, or 1:500 to be safe. With a Forexchief cent account, high leverage, one can practice all they want with $50 or less.

7

Best looking at Forex Peace Army, lots of broker reviews on there and find which one is best for you.

8

Totally agree with Petezaa…

9

I think otherwise. If a person is starting to trade after a long time, he should keep the leverage low to minimize the risk.

10

I mostly use economic calendars to be ahead of upcoming events but use other options like social medias and other regular news source.

11

It is wise of you to start with something small, you can try Coinexx, CMC markets or Turnkey Forex: they have amazing trading conitions with compact spreads and quite low commissions charged. Additionally, there is also a wide range of trading instruments to choose from. I have accounts with all the three and it is working really well.

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