Hi I,m beginner at forex trading with some few pieces of knowledge to technical analysis.Could you pls recommend me a trusted broker with good demo platform?
for beginners trader choosing a trusted broker is a big deal, because most of brokers right now are found to be scam in online. beginners should choose the broker which is more appropriate to the concept of trading that will be used , if love scalping should choose the broker which doesnt restrict trading concept such as this.
the traders who are particularly scalpers really fall a great trouble when choosing a broker, scalpers need first of all lowest trading spreads that most top brokers are not provided.
There are many scams in forex trading so if you want a good broker you should be aware of the ones that usually have very low opening balance like 5$ and 10$, that’s a strategy i use, and do check every broker you find is real, like its reviews, these forex sites are meant for that to capture the fake ones from the real.
Every broker has its way to drag its customers with certain tricks, find those tricks by doing some research on them and you will be able to separate the difference from scam broker and a genuine.
Go on Trustpilot and ForexPeaceArmy - both sites give reviews and more of an idea of what you are letting yourself in for plus it allows you to know more of what is available/restrictions. And yes most brokers are just in it for your money, biggest give away is when they ask how much more money/equity you have apart from what you’re currently prepared to put in. As for demo platforms the standard is usually MT4 with an option of MT5, use utube to see them in action, I stick with MT4 as flashy stuff serves no purpose bar to distract. Any decent broker will allow you 30day’s on a demo and if you ask should extend that, if not go elsewhere.
Hello, I have been using Forexchief for a few months now with great success. I’ve used other brokers in the past, but can only recommend my present broker. Check the reviews at FPA as well. Its honest and transparent.
I have never really heard of the brokers that were mentioned earlier.
But been using OANDA for 10 years and no issues so far.
Thank you for the information
Reviews are heavily manipulated including trustpilot it could make sense to ignore review from members which have one or two reviews and come from unreliable countries.
As mentioned previously if your interested in scalping and hedging thsn a broker that dosen’t limit these practices.
I know EagleFX has no such restrictions and you can have multiple demo accounts with them .
Kudos for going the demo route first this is in my opinion to establish a feel for a new broker
You’ve hit the nail on the head. Reviews are never 100% honest, also because traders have different needs and their good or bad experience can’t decide that we’ll experience the same. I believe that the best way is to analyse yourself. That’s why I never go by someone’s words. Even while choosing my current broker turnkeyforex, I spent time personally using a small live account rather than reading reviews. It only confuses you because you’ll find two reviews in favour and the other one against, and it’ll make you rethink your decision again and again.