Hi all, I am new, currently working my way through babypips, on level Undergraduate, Junior, where its suggesting I open a MT4 account. However, I haven’t yet decided on what type of trader I want to be, as I was hoping to get through the course before deciding. So haven’t chosen a broker yet that suits my strategy and plan. (As I don’t have those yet!!)
What did others do at this stage?
Suggestions for a UK broker just for demo?
I’m a stay at home mum so plan to consider my strategy based around my children being at school…
I have one live spreadbetting account and another for demo. SB is a simple and low-cost entry route into trading. UK-based SB providers are as heavily regulated as any other types of broker registered here. SB is perhaps a little simpler to get your head round than CFD’s but SB is also tax-free.
I would recommend getting a handful of demo accounts from the biggest SB providers and try them out.
UK-based firms must offer -
negative balance protection
low leverage
segregated bank accounts for clients’ funds
deposit protection up to £85k
Hi, signing up to a demo is completely free. So I would recommend doing some research and opening as many as you want. There will be a few differences between the 2 but overall mt4 is generally the same between brokers.
I’m with IG index and purple trading. Both have free demos so you can give it a go. IG index also do spreadbetting. Or research on google and pick another.
Ahah! - @tradeforex077 - you mention IG - I have an IG demo account. One tiny annoying thing is I find I can’t amend the stake or entry price on an SB order once its set. Am I blind, is there a way to do this?