New Guy!

Beginner Questions
1

Hey folks,

I’m quite new to trading & the forex market. I’ve already read a ton of very valuable information from this site and 1 or 2 others over the last 2 weeks, so still a lot to learn.

I’ve downloaded FXCN MT4 to mess about there and test out basic strats just to see what fits my style and what I feel like clicks with me. My plan is to run with my strat (which is very basic I might add lol) and see how my overall trades are over the next few weeks before making any jump into the real market.

When I do get to this stage I will be using a very small bank balance for further testing within the live environment before actually committing any large sum of cash as I’m wanting a decent success rate before really moving in on the market.

So after all that I’m basically looking to see what you folks think are the top brokers to use, FXCN I know is one of them and I’ve seen 1 or 2 posting saying Oanda is a good shout? but from what I seen when downloading this broker App their spreads are insane compared to FXCN spreads?

Any help/advice is greatly appreciated.

Thanks,
Steve

2

Hi Stev, welcome to the world of currency trading. Unless you have a lot of experience in other types of trading, plan on spending a lot more then a few weeks demo trading.

As far as a broker, I have been using FXCM from the beginning and they have given me no reason to go else where. Never liked MT4, FXCM Trading Station has worked fine for me

3

Hi Stev. Perhaps you could open several demo accounts with different brokers so you can test their conditions. Here is a useful thread for what to look for: 301 Moved Permanently. Hope this helps.

4

I feel this is the best thing to do too, just learn and practice and you are in the right track in the market.
Trade well!!!