Top forex brokers for newbies

Some these brooker are good but i dont like hotforex

Iā€™m trading with Hotforex from last 9 months and everything`s fine so far, In my views hotforex is a good brokerā€¦

I keep coming across posts where you do not like a specific broker, but you never give a reason why. It makes no sense to me.

Why do you think Instaforex is that bad? I am wondering cause I meet people who love them or hate them lol

It all has to do with that goddamn bonus tea option which they never paid upā€¦rule of the thumb, always read the small print when it comes to bonus. BTW, this was quite a while back, when I thought that bonus options were importantā€¦now, I know betterā€¦
And in addition to fudging the bonus tea, I believe there was some issue with regard to withdrawals, and slippageā€¦if u go by some of the reviews posted online. Either way, Instawhatever is not my cup of teaā€¦
Sorry about the tea motif, think I need some right away.

Enjoy your tea :slight_smile:

Rambo, what fx broker do you like?

I know the reason why you see lovers and the people who hate Instaforex. The reason is simple , they are giving huge bonuses in many promotions but they donā€™t want to give much profits. So when a user makes good profit they put him under fraud department, weird.

LB, thanks and wonder if thereā€™s a market for ebooks on Fx brokers and the MIA bonus optionsā€¦now thatā€™s one way we can make some of our $$$ backā€¦
On the broker options, as newbies, just read up on all the resource info @babypips school, read up on all the reviews (remember some of the reviews are paid forā€¦so use your judgement), and see which broker you preferā€¦
And of course, always read the small print.

My main broker is paxforex and I currently do my due diligence to find a second broker as I plan to fund an ECN. I will keep most of my trading with paxforex as to me they have been the overall best broker. I started out at at another broker which I did not like and I am glad I came across my current one. I am looking an Fxpro for my ECN account, but not sure yet.

PaxForex seems okay but is this broker regulated?

They are registered as a business and I heard that they have applied for regulation which is in the process.

They are in virgin Island? Registration is not a big thing to have as it can be done easily. The real thing is regulation and I am seeing them without regulation since 2010.

Iā€™m with profiforex as of the moment. I like their low spreads. Considering how Iā€™m fairly new, I still havenā€™t had that much experience with them but iā€™ve no complaints so far.

Here is a comparison of major forex broker spreads
Forex broker spread comparison ā€“ May 2013 | Forex Wise Guy

As I said, they are in the process of being regulated. I think they will have it this summer. You seem like the type who thinks regulation will protect you from scams. Let me tell you that you are wrong. Many regulated brokers scammed their traders. I have been with paxforex for quite some time without any problems, regulation or not. A serious broker will treat you right regardless of regulation, a scam broker will scam you regardless of regulation.

I think one good broker for newbie must have responsive , dedicated CS to support new trader for any issues. Its website should have good looking for new trader easy in opening demo or live account and can find any useful knowledge for their trading.

Also, newbie do not invest too much money for trading. IMO, Hotforex, Exness are two good brokers for newbies.

Just what I was looking for, this is a more extensive list of comparisons than what Iā€™ve seen on the web so far. Thank you for sharing!

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Forex brokers spread comparison
Forex broker comparison | Compare forex brokers

Book: The 7 Deadly Sins of FOREX (and How To Avoid Them) by By Marc Low
The_7_Deadly_Sins_of_Forex.pdf