Which of these brokers would you recommend for a beginner, using a demo account. If you could post your experiences and your thoughts about them. Your input will be greatly appreciated.
[B][U]
fxcm
oanda
forex[/U][/B]
I wouldn’t demo with a company I didn’t plan on using. You should figure out which broker suits your needs for live trading first and demo with them. Some brokers use proprietary platforms, some have wide variation in spreads, etc. You could end up using a demo with one company, get used to their quirks, then decide later you want to live trade with someone else, and have to relearn these things.
Do you have any experience with the above brokers, if so what did you think about it?
I’ve used fxcm for a few years now and its demo matches the real virtually perfectly… as long as you avoid trading at a major announcement which is when it dries up.
i think fxopen’s demo and live are very similar.
For beginning use broker who is offering MT4 platform. Afterwords check brokers feedback and background.
And I mean FXCM’s Trading Station II. If I were a beginner, I’d be intimidated by MT4.