When choosing a broker, of course, a beginner should pay attention to what spread is provided to brokers, what are the conditions for the payment system, as well as how many years it has been on the market.
UweMoench posted: A newbie should do enough research to find a broker. Without knowing how to find a good broker, one should not start trading.
I agree with you, for new traders research at the initial stage is very important, I also used to be in the same dilemma when I started trading, got to know about a few brokers and luckily found fxview trading conditions quite suited to my requirements.
Ask yourself the following questions to determine which broker and model might be right for you: 1: How much money do you want to invest? 2: How much do you know about investing? 3: How much control do you want over your investments? 4: Will you be trading intraday, end of day or weekly? 5: How often will you likely to be trading
Akasuki posted: A new trader must be cautious when choosing a broker. Make sure you choose a licensed broker.
Agree! The very first thing should be the regulation only to filter a good broker. When I started I had these options; Fxview Pepperstone Tickmill. These all are best in terms of trading conditions just differ on the fees part.
Yes, every new trader should choose a regulated broker instead of going with brokers that offer bonuses that can be scammed.
It took nearly two months to choose a broker, and finally I now trade with an ASIC and CYSEC regulated broker, FP Markets. It is also an older broker with over twenty years of forex business experience.
Three things that are generally required by beginners are: lower trading cost, micro accounts and good customer support. Lmfx, turnkeyforex, paxforex are all good and low cost brokers for newbies. I don’t think as a beginner one should take huge risks or trade for big profits. The initial trading phase is all about learning for which micro accounts are the best.
An account that is reliable and allows for fairly low initial deposits probably or micro account trading. Personally I use regulated and unregulated and can personally vouch for IG, IC Markets and CedarFX but you have to know what you will need from a broker and go from there.
If you can't spot the liquidity then you are the liquidity.
sebking1986 posted: An account that is reliable and allows for fairly low initial deposits probably or micro account trading. Personally I use regulated and unregulated and can personally vouch for IG, IC Markets and CedarFX but you have to know what you will need from a broker and go from there.
Can agree with you on IC Markets. One of better brokers to trade, along with fxview and pepperstone.
I started live trading a year back with Coinexx, and it's going well so far. The trading conditions are good and the customer support is really helpful which I guess is very important for every new trader.
For beginners or newbies, I suggest trading with brokers that have a lower opening balance or with micro lot accounts for lower risks and loss value.
I recommend brokers like XM or FP Markets, because they are reliable to trade with and provide some of the best trading conditions. I trade with FP markets because their minimum opening balance is only $6 per round per lot.
WARNUNG VOR HOHEM RISIKO: Der Devisenhandel birgt ein hohes Risiko, das möglicherweise nicht für alle Anleger geeignet ist.
Der Einsatz von Leverage schafft zusätzliches Risiko und Verlustgefahr. Bevor Sie sich für den Devisenhandel entscheiden, sollten Sie Ihre Anlageziele, Ihr Erfahrungsniveau und Ihre Risikotoleranz sorgfältig prüfen.
Sie könnten Ihre ursprüngliche Investition teilweise oder ganz verlieren. Investieren Sie kein Geld, das Sie sich nicht leisten können, zu verlieren. Informieren Sie sich über die mit dem Devisenhandel verbundenen Risiken und lassen Sie sich von einem unabhängigen Finanz- oder Steuerberater beraten, wenn Sie Fragen haben.
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