What to look at when doing this step?

Beginner Questions
1

Hi guys!

I just started to take the pipsology courses (i’m halfway to finish them). This is an amazing website that provides everything for as person to start their ,journey’’ into trading. I have a background in finances and economy, however I never traded on forex market with real money ( only demo so far ).

I am not decided what broker should I trust for a real account and what are the criteria of chosing a broker actually? What do you look at when you decide to trust them and trade with them?

I am located in the Eastern Europe. I am not sure what broker is the most trustable in this area. Also, apart from being a trustable broker, what else should I look at before chosing?

I found a few that are advertised as being popular here, but I don’t know which criteria to chose and what things to take into consideration for a beginner trader like me.

I can put a few K if necessary, but I would like to start with as less as possible, until I test some strategies even with real money not just in demo as I did until now.

Some choices I found were 500px, oanda, xtb. I am not even sure if all of them allow a real account in my location. But I tried them on demo accounts.

I would appreciate a few broker recommendations that are also explained why. I try to learn what to take into consideration when I compare and chose it.

Thank you very much!

2

Welcome. What country do you live in? I would suggest you look up whatever financial authority there is in your country, that regulates financial businesses and activity, focusing on forex brokers of course.

You also want to keep an eye on funding options - how do you get money into your account. If you have limitations there, you’ll need to obviously find one that works with your situation.

So I would first focus on regulation, if not in your country, maybe somewhere close to you. Then funding options.

Large European brokers that come to mind are Saxobank, Oanda, XM, Avatrade, FXCM, Forex.com, Plus500, IG Markets, CMC, Swissquotes, Dukascopy, FXDD. and Admiral markets.

Long list, but you should find something in there. Unfortunately, I can only vouch for Oanda. I haven’t used any of the others.

Also, check this lesson out from the School

Hope that helps! Report back when you find somebody and let us know how it’s going.