For newbies, I recommend trading with regulated brokers such as ICM, Pepperstone, or FP Markets. The trading conditions are reliable and customer service is quick in solving queries with faster execution speed.
skyjack777 posted: Hi All, Have just been to the reviews on Brokers. I'll ask the question here. For someone in Australia, with a micro account between $250 to $500 dealing with .01 lots, is there any Brokers that come to mine. Thanks Bruce
This is something you can only answer, as friends for who they use but you’ll need to check them out. Can always demo with most first
For newcomers, it is preferable to choose a broker that is regulated and provides a free demo account that does not expire soon, as well as proper customer service, because in the beginning, beginners will require assistance from customer service to resolve certain queries.
I suggest my broker, FP Markets, because they have an excellent customer service team and their demo account expires only when not used for a certain period.
I would suggest trading using a demo account before going live. I traded using a demo account with FP Markets as a first-time forex user, and they have an e-book and other forex learning options which helped in gaining forex knowledge.
For newbies, it is better to choose a broker with a free demo account that also provides educational materials. For example, Avatrade and FP Markets have webinars, e-books, video tutorials, and more for newbies entering into forex for the first time.
As per my opinion, the broker with the lowest minimum deposit I have come across is FP Markets, which has a $100 AUD minimum deposit and the commission cost per round lot is also lower at $6 per round lot without any extra commission cost during withdrawals or deposits.
There are several aspects to keep in mind while choosing a broker for the first time, but one thing that remains right at the top of the list is ‘reliability’. A broker has to be reliable in terms of offering trading conditions and withdrawals. That’s how a trader can think of going long-term with them.
Brokers serve traders with numerous trading facilities and they act as an intermediary. For both big and small investments, a secure broker is essential. Eurotrader is recognized as a secure broker. The broker is regulated by FSCA and offers all reliable trading platforms with flexible margin level and high trading leverage.
I currently trade with an FP Markets Raw ECN account, where spreads on major pairs like EURUSD, JPYUSD, GBPUSD, and others start at 0.0pips, and I've had no problems with spread widening even during volatile market news.
'For newcomers, it is preferable to choose a broker that is regulated and provides a free demo account that does not expire soon, as well as proper customer service, because in the beginning, beginners will require assistance from customer service to resolve certain queries.
I suggest my broker, FP Markets, because they have an excellent customer service team and their demo account expires only when not used for a certain period.'
New traders should check the regulations of brokers before anything else. After that comes the trading conditions. Brokers fulfilling both criteria include aaafx, fxtm and etoro. Newbies can start with any of these for just 10 bucks and test the trading conditions before going big.
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