Best Broker for a Newbie

To choose a broker, a new trader should be careful..they should do some research on internet. And choose a broker that is regulated and licensed.

To me MT4 is the easiest platform to navigate and trading. May be I am used to it, that's why I find it comfortable compared to MT5 or cTrader.

In my opinion, for beginners, it is better to choose a broker that has micro lots for lower risk and capital with good customer service to help during the initial stage.

I suggest FP Markets because their micro lot account offers some of the lowest spreads, and their customer service is quick in answering clients queries even through emails and live chats.

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.

A newbie should do enough research to find a broker. Without knowing how to find a good broker, one should not start trading.

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

A broker with low trading cost is good imo, found coinexx suitable because of its low commission cost of a dollar per lot.

A new trader must be cautious when choosing a broker. Make sure you choose a licensed broker.

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.

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.

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.

radioactive posted:
Can agree with you on IC Markets. One of better brokers to trade, along with fxview and pepperstone.

how long do they all take for withdrawals?

Jude_craig posted:

radioactive posted:
Can agree with you on IC Markets. One of better brokers to trade, along with fxview and pepperstone.

how long do they all take for withdrawals?

@Jude_craig Last time when I used them, they were all on quick feet. Maximum withdrawal was within a day.

Well there are a lot of regulated brokers with good trading conditions, some of them which I prefer are:
Fxview - $2/RT
IC Markets - $6/RT
Fxpro - $9/RT

Newbies should trade with regulated brokers, and it would be an advantage if their broker is also an older broker.

ICM and FP Markets are regulated by ASIC and also older brokers with over 10 years of experience in forex. ICM has an opening balance of $200 AUD and FP Markets has a lower opening balance of $100 AUD.