WHAT DO BEGINNERS CARE ABOUT THE PERFECT FOREX BROKERS?

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I am happy for you because you are searching for the phrase “perfect forex brokers for beginners", which means you’ve recognized that the best forex brokers might not be suitable for you. You’ve also known that ECN brokers aren't good for you either. This means you are serious about your trading career. You must have researched a lots about forex trading. In your trading path, you’ll have to change many brokers. For each stage of trading path, there is only one type of broker suitable for you!

WHAT DO BEGINNERS CARE ABOUT THE PERFECT FOREX BROKERS?

Top 3 best forex brokers for beginners.

XM.com: 9/10

 

Exness.com: 9/10

 

FBS.com: 8/10

 

1.    Some criterions to pick out the perfect brokers for beginners:

Beginners’ targets for this stage are learning and minimizing their losses, so the standards for the perfect brokers are:

  • Trading systems:

Although trading systems are complicated, the good strategy for beginners is simplifying everything. My advices are:

-       Choose the easiest and most convenient brokers.

-       Trading by web trade/web terminal at the beginning. Trade MT4/MT5 later.

-       Deposit by Visa/Master at the beginning

  • Low deposit:

Due to the limitation of money I strongly advise you to deposit less than $100 for this stage (3 months). In this stage, brokers will encourage and attract clients by mean of giving them the best trading conditions. With the small sum of money you also don’t need to care about the trading cost. Clearly, low deposit bring many benefits.

  • Why small trading lot is the most important?

As I mentioned above I should invest under $100 at the beginning. With 100,000 USD for the standard lot is too much, but some brokers have Micro accounts which you can open positions as small as 0.00001 Lot USD such as XM. Exness and FBS also have Cent accounts whose minimum lot trade is only 0.0001 Lot USD.

The advantages of Micro and Cent accounts, you deposit $10 for a whole month of practicing and can withdraw your win money. Moreover, you can deposit whatever amount you want for these accounts due to the fact that there are no minimum deposit requirements.

  • Beginners need good local support brokers

Language is big barrier for trading between traders and brokers. Therefore, supporters must speak your native language. Actually I also got some stupid problems such as: login, installing MT4, 3D security of Credit Card at the beginning and I think you might get the same problems, so it’s much easier and faster if your supporters can speak your language.

So why don’t you a broker having good local support?

  • Trusted brokers

In the article before, I always advise you to choose best forex brokers. However in this article I mention to beginners so they can trade with any brokers as long as they are easy and convenient for those traders. There isn’t any brokers that want to cheat you because you only deposit ten dollars top.

When you have enough experiences and skills, you can change to other reliable brokers you like and invest bigger amount of money.

2.    Misunderstandings of beginners:

- Firstly, choosing a broker will depend on your trading strategies, your experiences, or your countries trading conditions. You are big wrong when you desire to trade with the perfect forex brokers. In the forex world, there isn’t the definition of “best” only “the most suitable” broker. I used to work for a big broker, and I’m sure about 95% beginners will lose all.

- Secondly, forex demo account don’t help to improve the ability of trading even has negative effects such as wasting of time and money. I recommend that you use Cent account. It is the perfect account for beginners.

- Thirdly, you don’t touch ECN account which is the best account for experts. Beginners are able not to adjust and deal with some problem related to slippages and gaps. You don’t imitate experts’ activities.

- Last but not least, beginners think trading based on the news means that they should open positions within the news release time, but it's wrong. All experts don't trade in news release time. They will close/open positions about 15 minutes before/after the release time.

3.    List of 3 best forex brokers for beginners

Top 3 best forex brokers

Advantages

XM.com: 9/10

It is a trusted broker

- You can open smaller positions (0.00001 lot USD)

- It also has many training programs

Exness.com: 8.5/10

Exness is the biggest retail forex broker

- It has Cent account

- It lies in top the good support and payment systems

FBS.com: 8/10

It also has cent account.

- It offers good services in countries where they have offices especially South East Asian countries 

4. 4 tips for beginners:

  • Don’t use robot trading

  • Trade Micro/Cent account. Exness can a good choice.

  • Don’t deposit more than $100 for the first month.

  • Learn risk management.

5.    Is a welcome bonus good or bad?

As you know, a welcome bonus refers to a reward given to a trader when they sign up as a member. The purpose of a welcome bonus is to encourage you continue to cooperate with brokers. Personally, your brokers offering welcome bonus or not is not important. Because if your brokers don’t suggest that, it’s still wonderful. As far as I know, to receive profit from welcome bonus you have to complete some conditions which brokers built. For example, whenever you completed a certain number of trading lots, you can withdraw broker’s bonuses. Clearly, I find easy to register welcome bonuses but it’s very difficult to withdraw. Therefore you pick out brokers you can withdraw welcome bonuses easily.

 

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