Recommend Forex Brokers for Beginners

Hi, I am new to FOREX trading. I have just completed the Babypips and would like to start demon practicing. Could you all great experts recommend good forex brokers that I can demon-practice and hopefully progress into live. Thank you

1 Like

For demo trading choose any because all demo platforms have instant execution which is of course impossible to get in live accounts. For the latter you may consider brokers such as hotforex, Tickmill or IB their liquidity providers are pretty good even in times of high volatility.

4 Likes

thank you Ontario

1 Like

You should try a broker who operates 24/7 then you can practice in demo mode at weekends too. EagleFX would be a good choice…

3 Likes

If you don’t want to go through the process of creating a fake/real account you can just install Metatrader 5 it has a demo account by default I think. And you can “deposit” in it many times.

3 Likes

You can just install MetaTrader and that will suffice.

But if you want to have a feel what other brokers’ interface may feel like; then by all means go ahead and sign a demo account with them.

p/s: please only try with those few established brokers.

All sounds very occult to me… :smiling_imp: :wink:

7 Likes

are you refering to demo or demon forex is not demon aless you have one hahahaaa .Never this is not a demon or an angel but a A GOOD FOREX BROKER FOLLOW SEND YOUR EMAIL LET ME GIVE YOU THE LINK

2 Likes

This made me laugh so hard :rofl::rofl:

2 Likes

There are a lot of brokers out there. However since it is a demo account, you can use any reasonable recommendation. Tenkofx seems to be one of those brokers that is usually recommended. Probably because they have a good demo and live platform that is easy to use and fast with order execution. I hope you find what you are looking for.

Never heard about this broker, it is probably small or new firm, where trading conditions are usually raw and subject to frequent changes. That’s why it is recommended to start trading on a broker which knows what he is doing.

You can always try Forexchief. A couple of my colleagues use this broker. The broker’s demo account is forever, as long as you are active on it.

For your information, I hope you meant demo and not demon, haha. And congratulation on finishing the courses. Now would be the good time to start practicing in demo account, I would recommend to choose these three brokers below –

  • Turnkey Forex
  • FX Choice
  • LMFX
1 Like

I think you should go with an ECN broker. I am trading in Solidary Markets and they have excellent client support. As you are new, you can get through your early days of trading with the help of their client support team.

I use these now and yes can recommend them too.

1 Like

Hello, The best demo-account I trained on is FXCM demo account. This is an award-winning platform, probably best on the market.
Good luck

1 Like

For demo account you can start off with any broker suggested to you here as there is no money involved.
For live account I would recommend you to go for regulated brokers only due to funds security. You can look for brokers like hotforex, tickmill, fxview, oanda and start with small amount, all these offer good conditions.

2 Likes

I’m new into trading, looking for broker that would provide a demo account without any restrictions. Ideally a broker with a good support.

It’s great that you’ve completed the course. There are many top brokers that you can consider for demo accounts, but in my experience I would suggest a few that I like - Fxcm, etoro and Fx View. I always keep on researching different brokers so that I can get the benefit of best trading conditions.

Good suggestion, Hotforex, Tickmill, IB are also good UK brokers which offer quite competitive trading conditions.