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Best Broker for a Newbie

Mohammadi
Oct 15 2018 at 11:53
886 posts
In Fx trading choosing a broker should in cool mind. Please don’t choose a broker in an emotional state because most of the brokers are found to be scams. And despite of good trading knowledge that’s not possible at all to make profit constancy without a reliable support form a reliable broker.

James
jnimc
Oct 15 2018 at 12:57
12 posts
it doesn't matter newbie or not - a well regulated true ECN broker with tight spreads and low commissions is the way to trade (FXOpen UK in Europe, ICMarkets etc)... For practice trading instead of a demo chose a broker with real nano-lot accounts = 1 unit min. trade (Oanda etc.)

togr (togr)
Oct 16 2018 at 06:08
4862 posts
jnimc posted:
it doesn't matter newbie or not - a well regulated true ECN broker with tight spreads and low commissions is the way to trade (FXOpen UK in Europe, ICMarkets etc)... For practice trading instead of a demo chose a broker with real nano-lot accounts = 1 unit min. trade (Oanda etc.)


Quite well said

TiffanyK (TiffanyK)
Oct 17 2018 at 12:45
427 posts
Choosing Broker is definitely more complicated for Newbie then for someone with experience. With the time you learn what you should look for and abbreviations like STP, DMA, NDD are understandable. My advice for all start up traders will be to look for exactly those criteria’s (STP – straight through processing; DMA – direct market access; NDD – no dealing desk) and choose broker that fulfil all of them and it is of course regulated.

Accept the loss as experience
togr (togr)
Oct 17 2018 at 13:56
4862 posts
TiffanyK posted:
Choosing Broker is definitely more complicated for Newbie then for someone with experience. With the time you learn what you should look for and abbreviations like STP, DMA, NDD are understandable. My advice for all start up traders will be to look for exactly those criteria’s (STP – straight through processing; DMA – direct market access; NDD – no dealing desk) and choose broker that fulfil all of them and it is of course regulated. [/Plus avoid any Russian broker
They do often steal your money or go bankrupt.

WeHu58
Oct 19 2018 at 05:36
1 posts
I put my trades to 4 different broker, since they offer different spreads for different charts.

s1m3nk0n
Oct 19 2018 at 09:20
9 posts
I have been using Turnkey Forex lately and so far they have been excellent.

Here's a review of them:

https://groundfinance.com/turnkey-forex/

All the best to you in your trading!


RedSox
Oct 21 2018 at 06:14
10 posts
WeHu58 posted:
I put my trades to 4 different broker, since they offer different spreads for different charts.


I use multiple broker too. This is best way if you have large account. Not the best solution for a newbie though. I would just use one of the major brokers and use demo until for a while

yellowman94
Oct 25 2018 at 12:19
41 posts
go with demo account first with every broker that has been suggested to you and then decide. everyone has their own preference and need.

Mohammadi
Nov 12 2018 at 09:01
886 posts
We the traders who are particularly scalpers have to choose the brokers which for all time make sure lowest trading spreads which is very supportive to make profit with certainly by using scalping policy that brings profit in a short time.

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