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
Yes: 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.
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.
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