I am ready to start trading, but having a hard time finding a reputable forex broker based on my online reviews found. I have about $250 to start with and just want to trade micro lots to get my feet wet. I reside in the USA and will be trading daily on five minute chart any help would be greatly appreciated.
Thanks,
GM
Hi marlins,
there are many possible brokers out there. There is first of all the offshore broker thread, giving a great deal of help. On the other side you have to ask yourself if you would like to have a US or an offshore broker.
There is however an interesting aspect for you that might not influence other traders as much, but you do have to do your research about: it is your quite small, $250 balance to start with. Why do you need extra research? Because in many cases you have to pay a fee of $40-$50 when you make a deposit. When you deposit however thousands of dollars, broker might pay your fee back. In the case of $250 deposit, I am not really sure they would do that. This might have an important role for you as a $40-$50 fee might be 20-25% of your total deposit, which seems to be too high.
I wish you good luck and hopefully I could help a little.
Hello
choosing an ideal broker is very difficult with all these online forex broker. I’m outside the united states. I could not recommend a broker. the only advice I can give you to choose a regulated broker, and take time to talk with kind that used the services, good luck.