Forex Brokers for Beginners

[Enivid]

Yeah searching for one especially for a beginner can be quite overwhelming. Been there and spent a few good months to finally settle for hankotrade. Firstly, it’s an ECN broker, something that I’ve always preferred and then the multiple financial instruments for MT4s mobile and desktop versions quite well diversified my portfolio and skills.
The commission free trading, tight spreads, fast execution speed, and super fast customer support team sealed the deal for me.

You forgot to mention that it's a completely new (no reputation) unregulated broker that doesn't even have contact phone number on their website. That's like a recipe for getting scammed in the online Forex industry.

 

[RaviTeja]

Currently, I trade using a demo account and looking for a reliable broker with a minimum opening balance of $200 or lower with micro-lots. Any good broker recommendations?

 

[Enivid]

Currently, I trade using a demo account and looking for a reliable broker with a minimum opening balance of $200 or lower with micro-lots. Any good broker recommendations?

Exness

 

[Black Bobble]

Look for brokers who have been on the market for more than 10 years and you will not have any problems.

 

[Glossy]

I believe that for those who have come to forex, the best place to start is investing.

 

[Morgan909]

I have been trying several brokers since my initial days in the forex market. I tried Exness as its spreads are tight. The standard account has no commission charges, but the professional account comes with charges of $3.5. After a few months, I tried another regulated broker that is Nadex. It was their commission that attracted me which is $1 charged from entry and exit from trade. They do not have crypto trading on the live account. On my friend's recommendations, I tried Coinexx - an unregulated broker. The spreads were tighter and the commission charges were lower at $2 per standard lot round turn. They allow crypto trading, but with fewer crypto pairs.

 

[HeavenLeighGill]

I don't think there's any single broker that is best for beginners, but there are conditons that would be advantageous to beginners. For example, a low deposit requirement in case someone wants to start with a small deposit, easy to reach customer support in case they have a problem, quick withdrawals in case they are in a hurry to get their money (as many beginners may be tight on funds), and low costs so that they wind up with more profits in their pocket. These are just a few examples and are honestly conditions that I think we'd all look for.

 

[SOLIDECN]

Hello everybody,

As you are aware, the forex market comes with accounts verity. I suggest Micro and Cent account types for starters. With a standard or ECN account, the minimum trade size is 0.01 lots (1,000 of the base unit) which is considered aggressive if one has less than a thousand dollars on balance!

So first thing first, choose the right account type.

I'm new to this forum, and I'm not sure if I can name a broker.

 

[Enivid]

I'm a beginner looking for recommendations on suitable brokers with a lower opening balance of $200 or lower with proper regulation from ASIC or FCA.

And it would be advantageous if the broker offered a lower commission cost of $4 per lot.

Pepperstone? IC Markets?

 

[HeavenLeighGill]

I think the best advantage for beginners may differ than the best advantages for more experienced traders. For example, a beginner may benefit from a smaller deposit requirement and may not need as high leverage as someone that has been trading for a while. I'd also imagine that many beginners would need quick deposits if money is tight, but I think most of us prefer that anyways.

 

[KristenRiosy]

Hello! Can you please tell me where I can find a list of trusted brokers in South Africa?I am just starting out and want to find tips and recommendations. Thanks

 

[DDShares]

Got it. THX

 

[Enivid]

Fairly new to FX, been doing demo for the last few months. looking for a reliable broker with regulation and 10 or more years of experience to start live trading with a minimum opening balance of $100?

I would recommend Exness.

 

[sunar14]

Currently, I trade using a demo account and looking for a reliable broker with a minimum opening balance of $200 or lower with micro-lots. Any good broker recommendations?

Exness, Tickmill, Hoforex. I think min deposit requirement is even low. The rule of thumb is to focus on broekrs with FCA license.

 

[Trading8Man]

Oftentimes, beginners were trying to get forex brokers to help them in trading. As a lot of brokers available that offers good results, I wonder what would be the best forex brokers that offers the best advantage for beginners?

where are you based?

 

[Oli_jackson]

In order to not burn your fingers, newbie traders should find a good balance. The brokers should have good trading conditions, fast execution of course and needs to be well regulated and secured. I always recommend EU brokers more than others.
trading conditions depend on the own trading needs but since newbies do not have a strategy at the beginning, since they need to find their way, just care for having smooth conditions and Spreads below 1 pip. ... it often SEEMS that all brokers have below 1 pip in eurusd, BUT real conditions while trading are mostly others 😉 so do not look on what they publish on their page, but check out via Demo or small live as well as research on the Broker.

As someone who's new at all of this, I agreed with what you said. Is there any broket that you suggest? I'm still newbie and learning and also searching for a broker to start with.