I’ve always wanted to know where can i start trading on the forex market. I found FOREX . com to be pretty decent and i made a demo account on it too, but are there better websites to trade on?
Like what about Plus500, iQoption etc.
Are they any good?
The brokers you’ve mentioned are perfectly. Also, it depends on what country you are from. I opt for Forexchief broker because I wanted registration, deposit and withdrawing of funds without going through rigorous verification. I also enjoy low spreads and fast execution. What are you looking for as a trader?
Hey, i’m just getting started in forex and still learning too. I’ve heard alot of horror stories of people getting scammed so i am trying to be cautious on which broker i choose.
you only mostly get scammed if you choose some random unregulated broker that nobody has heard of before,or if you give your money to some fake account manager to trade for you
picking a broker depends on different factors such as your trading style (swing trader, scalper, using EAs, hedging, etc).
for example if you are a scalper and try to squeeze a few pips out of the marker, spreads and commissions play a substantial role.
if you hedge, you should make sure, the broker doesn’t have problems with that. it’s the same for using EAs.
in general, as a beginner, pick a well-regulated broker. brokers regulated by one or some of these regulatory bodies can be best options: FCA, ASIC, SySEC, NFA.
FOREX .COM that you mentioned is a good broker, however, since it’s one of the few brokers accepting US clients so the competition is too low for it. as a result, the cost of trade like spreads and commissions are high.
if you are not from the US, you can find better options.
we the traders have to choose the broker which always make sure security of funds with a wide range of trading technologies.
I’ll pay attention to second response. I use Forexchief too and its been great and good experience. The broker does not trade against you and Quick to cashout profit.
where are you from ?
it allows scalping and hedging with all others ?
I recommend icmarket.com, because its spread I feel is low, octafx.com it free swap offset com fees, forex4you.com has a cent account for newbies
cent account is really supportive for the traders who are beginners level. thanks for the comment.