Hello i am a new trader and i am looking for the best broker to open a micro account with, i currently live in the UK and i am looking to invest £1,000 into the forex market, i have almost completed the baby pips course and i have learnt so much from it already and i think im well on my way to becoming profitable trader even though i have a lot more to learn. i was just wondering if anyone is in a similar position like me or has been in the past and could help me find the best forex broker for my current position, thank you in advance for all your help
As you’re in the UK, don’t ignore the spreadbetting firms. They’re not so good for scalping but in the mid-term time range from 1-10 days absolutely replicates trading with a forex broker. They have negative equity protection and deposit requirements are very low.
thank you very much as i am new to trading i am not to sure what ‘spreadbetting firms’ are, have you got any topics i could read to maybe learn abit more about them?, Thank you very much for taking time out of your day to reply
Everyone here will recommend the School of Pipsology on this very site.
Meantime, open a demo account - or better still, open two, one with a spreadbetting form and one with a broker. Get to understand how each works and their pros and cons. Demo accounts are a free gift, enjoy it.
Open a demo account first and learn the mechanics of trading. Any of the big U.K. regulated trading platforms will do like FXCM, Forex.com, IG, etc.
thank you very much for your help:slight_smile:
thank you very much for your help:)
100% you want to go with oanda. Open a spread betting account and deposit as little as you want. With oanda you don’t trade micro lots. You also don’t trade standard lots. You just trade whatever you want based on the stop loss size. You just enter units. Change the amount of units until it shows your desired risk amount. Easy.