The bets broker is the one you pick which suits your needs. Ignore reviews and what other say. Do your own research, pick one you feel comfortable with and open a micro-account. This is the best way to evaluate a broker.
Thanks for the good advise.
Which broker is good for you depend on how is your trading style and strategy. Are you scalper or swinger or carrier? Because each broker have its trading conditions that work best with some trading styles. Check it here: Who Is Forex Broker? | Forexful.com
It’s recommended that you should demo trading first.
I would strongly disagree with that point. It is the worst things a new trader can do in my opinion. Roughly 98 out of 100 traders recommend that, and roughly 98 out of 100 traders fail.
What do you think better for a newbie? Open a real account for the first time? I don’t think so! When there are a lot of brokers out there with same “presented” conditions, it would make newbie confusing. They may “fail” to make profit but what they should do here is making acquaintance with the trading conditions as well as platform, because it’s different from broker to broker.
[QUOTE=“TheLastBear;481143”]
I would strongly disagree with that point. It is the worst things a new trader can do in my opinion. Roughly 98 out of 100 traders recommend that, and roughly 98 out of 100 traders fail.[/QUOTE]
Its all about testing the software
If you start live and you don’t know how to use the platform
You are going to lose your money in a click
I have an account with this broker and I really agree with you. SO far the tradition condition is very good.
Nothing can actually be called the “best” but you just need to know what you will be looking for on a broker. 
You are most likely to trade on MT4, which is not created by the broker its a third party platform all brokers use. Go ahead and trade in a demo account, it does not bother me at all. As I said, 98 out of 100 traders fail. Be my guest and join the 98.
That’s why you trade 0.01 lots only and not more. You learn by making mistakes in a live account, but you can place a few hundred trades. You set your stop loss orders and a $100 micro-account can last you for a few months of practice. You are not going to waste your time.
Agreed, no more than .01 lot and it should last you for a while. But remember to review all info on babypips, work out the correlation between leverages, margins etc before going live, good luck!
There is no best brokers at all. But with each trader, they might have a best broker and of course that broker have to fullfill their needs as spread, payment, trading environment, bonus,… To me, I’m trading with Hotforex and this is a good broker with a lot of advantages for you to try. Especially the good spread in minor pairs.
[QUOTE=“TheLastBear;481564”]
That’s why you trade 0.01 lots only and not more. You learn by making mistakes in a live account, but you can place a few hundred trades. You set your stop loss orders and a $100 micro-account can last you for a few months of practice. You are not going to waste your time.[/QUOTE]
Most people thing that in demo everyone can make millions of dollars
And when they trade real they lose
Ask your self why?
Because on demo there is no real risk, right?
So they open positions with huge amount of money
And by luck
They make millions $$$
But when they open real account, they open 0.01positions and most of their trades lose
The questions is why they lose money with real and make money in demo?
I have tried both and i know. The reason
When you open demo and make a few trades and you make money
You are going to think that thats all
Its easy,
then you decide to open real account
When you open real you cant start with 100,000$ like demo
You start with1000$
And trade emotionally, and lose, while you are losing, you can’t develop a strategy because every time you lose you get frustrated
While when you are on demo you have to learn from your mistakes
And when you trade 6 months on demo every day 4-5 hours
You are going to have a strategy and methods to trade
And how to manage risk and money
So the last thing is
You have to make sure that your strategy works when you get bored, focused, frustrated, happy, sad, …
Then do it on demo again
If you make money 20 days in a row
Thats it open real account
I agree with your reasons why people make money in demo accounts and lose in real accounts. I just disagree that traders can learn how to trade in demo accounts as there is no trading that takes place there. There are no profits and no losses.
[QUOTE=“TheLastBear;483014”]
I agree with your reasons why people make money in demo accounts and lose in real accounts. I just disagree that traders can learn how to trade in demo accounts as there is no trading that takes place there. There are no profits and no losses.[/QUOTE]
if you want to test your strategies 1000 times
you can do it on demo without losing penny
if you do it on real maybe you lose 1000$
even if you trade 0.01 lots
i mentioned above
dont trade real if your strategy don’t work for you every time you trade
i can make money even if iam trading emotionally!!!
if you read professional traders books
you are going to see that there are so many traders lost huge amount of money at first just because they didnt know what is going on with the system (commissions, spreads, etc)
You can’t test it in a demo account and if you only trade 0.01 lots on a $1,000 account and still have not figured it out than you will never do so.
For a newbie I think a good choice would be Oanda
hai rajkumar my choice is insta forex because they are only having direct offices in chennai ,bangalore,coimbature so better visit directly and get some ideas about account opening,transfer money
It all depends on the individual. There is no such thing as the best broker for anyone. You recommend Oanda, another one recommends FXCM, I recommend PaxForex and another one InstaForex etc. Everyone makes their own choices and needs to find the broker which works best for them.
With brokers it greatly depends from the first source you heard about them for example, today you are introduced to a certain broker by a colleague, you’ll be guided on how the broker does and given the few bad images about them yet you can find a better broker that is one with much advantages in trading and a few undesirable about them. But if you feel like wanting the best broker then it is upto you make a list of the ones you suspect to be the top cream and start engaging you trade with them and have the experience. In the end you would have known them much better than before and make your decision of whom is the best. This will take quite sometime but you be satisfied that there is no best broker but they vary in different ways.