I’m looking into getting into forex and crypto. I’m very new to trading. Which broker is advised that is easy to get to grips with and to use
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I would pick either forex or crypto for now first and foremost. Trying to do both will confuse and discourage you. Regarding brokers more and more are offering both now. Personally I use IG but do your own research on brokers and see what is important to you.
doesnt really matter if youre just on demo
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Every broker choice is personal. Depend from your personal preferences but may be i see yours. As you’re newbie you need a user friendly broker with good support at first. At second when you want to trade Fx and Crypto it’s better to have it both in one place and with variety especially for Crypto pairs. Based on my personal experience both of your key points are covered with EagleFX. I’m using them very long time already and all’s fine so you can check them too.
So many good brokers out there. Maybe best to try a few on demo and read some reviews
Blueberry markets will take care of you. They are very user friendly. look them up.
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Bitrue is great for crypto, and I love Oanda for forex.
There are lots of them that offers both assets on one platform. Forexchief is the easiest broker I have ever used in a long time. Their crypto assets are limited, for Forex, I have not see any better. Leverage is as high 1:1000, lower spreads for sure.
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I would personally be looking for one that offers both forex and crypto even if you don’t want to trade both as you may do in the future. Leverage will also be important and worth checking. I use EagleFX but there are other similar. I based mine on asking in likeminded groups to see which was more used
Been with a load of brokers over time. I had about 5 different demos to compare at one stage and they are all pretty much the same. I ended up staying a a crypto broker as that interests me the most. Think about what you want from them and try them all on demo
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Personally, I don’t believe in the fact that there is any one broker that can fit the trading requirements of all traders. As an individual trader who has unique trading requirements, you must find a suitable broker for yourself on the basis of your trading needs and find out which one is the best for you.
This is exactly what I believe in. When I was a beginner, I tried to copy my fellow traders because they were making good money and I thought that if I copy them, I will too. But it didn’t work that great until I knew what I wanted from my trading career.
But as far as I know, most traders look for low commissions, tight spreads, great customer service, easy to use trading platforms, etc. in general. Or am I missing something?
No, you are not missing anything. Undoubtedly, these are the most basic trading requirements that any trader would look for in a broker. But there are some traders who are into scalping who would require high execution speed and no delays from their platforms and might choose turnkeyforex for that. While a trader, who is looking for long-term investments, might not consider the execution speed but would be more interested in a broker with a reasonable fee structure like IG.
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I would suggest that you should start with MT4 or MT5 trading platform as they are very user friendly and open to both beginners and professionals. I am using [removed for Forums violation], XM and Hot forex for forex and crypto trading. But I would suggest you to check demo account first and see if it suits your requirement.
Same here. Great charts!!!
Many forex brokers have low minimum initial deposit requirements. Usually at least 100 of your selected base currency.
Also, all retail forex brokers allow trading of micro lots (1,000 units or 0.01 contract size).
Randomly asking folks what brokers they recommend without doing your own due diligence first is risky.
You can learn more about what to look for in a forex broker in our Broker 101 course, starting with the first lesson, How to Choose a Forex Broker.
If you are new then a broker is not important right now.
Get yourself some education first.
For forex trading most brokers are fine.
For crypto you ideally want an offshore one for the leverage and 24/7 capability. (hugosway, eaglefx, cedarfx, exness etc)
Why would you recommend new traders to trade crypto with high leverage when cryptos are extremely volatile and can easily move 20-30% in a day?
That’s a recipe for blowing up quickly.
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You can’t use high leverage on crypto CFDs, most what brokers offer is 1:5 leverage which is relatively safe