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What is the best broker for beginners

  • #21
  • Mar 8, 2015 7:42am Mar 8, 2015 7:42am
Quoting AndyCullen
I would suggest opening a few demo accounts with a number of brokers to see which one you like best. This is what i did. It gave me a really good idea of the platforms and got me comfortable with the different indicators and instruments. Have a go - a good broker wont charge you to open it - oh and make sure that you can have the demo for an unlimited time. so you aren't under pressure!
That's a right way to test a broker, but, unfortunately, you can't understand anything about how honest they are with withdrawal. On the other hand, you can try to open a micro-account if a broker allows it.
  • #22
  • Mar 9, 2015 10:19pm Mar 9, 2015 10:19pm
Quoting SamuelKott
{quote} That's a right way to test a broker, but, unfortunately, you can't understand anything about how honest they are with withdrawal. On the other hand, you can try to open a micro-account if a broker allows it.
True, but on the other side a good demo experience is a prime requisite to open live : it works like a filter.

I currently opened a ECN demo with Tickmill, and it passing the test : good service and very tight spreads.


Let us see how it fares when it comes to live acccount.
One good point for them is that they accept skrill account among other deposit/withdrawal method.
  • #23
  • Edited Mar 10, 2015 12:13am Mar 9, 2015 11:35pm | Edited Mar 10, 2015 12:13am
Quoting AndyCullen
I would suggest opening a few demo accounts with a number of brokers to see which one you like best.
While this is a sound advice, there is often a HUGE difference between demo trading and live trading.

In demo trading everything seems ok and peachy, your stops are respected to the pip, there is virtually no slippage and your limit/stop orders (or any type of order for that matter) are always filled in a timely manner.

But the minute you start trading live with real money, weird things start to happen with some unscrupulous brokers: your stops get hit even if the price did not touch them, you get negative slippage but NO positive slippage at all, your huge winning positions suddenly get closed for no reason (while your losing positions remain open...), and any pending order that would have generated a big winning position is nowhere to be found, it's gone.

And let's not even talk about attempting to withdraw your winnings or simply your initial capital, that's another story.

So beware and test the waters very carefully.
Each losing trade is an opportunity to learn
  • #24
  • Mar 10, 2015 9:55pm Mar 10, 2015 9:55pm
Hello Admin,

For begginners i suggest to open a demo account to any broker
and try to trade, and expirience everything without losing anything.
i ´ve been in diferent broker i opened demo account, live accounts and blued it after few days.
most of broker i thinks legit. i think the problem is with me. trading is not an easy thing. it needs a lot of
patiense, timing, and info´s about the market. We need to be always updated. for every news. i´ve been trading forex, binary options, 30seconds, 60 seconds, 5 minutes. i have my own strategies but if i lose
once i lose it all, i expirience greediness. thats my problem i think a need someone to control me.
  • #25
  • Mar 14, 2015 1:22am Mar 14, 2015 1:22am
Quoting stefcio2002
{quote} True, but on the other side a good demo experience is a prime requisite to open live : it works like a filter. I currently opened a ECN demo with Tickmill, and it passing the test : good service and very tight spreads. Let us see how it fares when it comes to live acccount. One good point for them is that they accept skrill account among other deposit/withdrawal method.
Yeah, you are right. In my opinion for begginers it's worth choosing brokers offer a micro account just to test their strategies and a broker as well. A demo account is obligatory, but it doesn't allow to chech how good withdrawal is, for example. There are lots of brokers offer micro, I used Tickmill as well and also Oanda.
  • #26
  • Mar 16, 2015 3:56am Mar 16, 2015 3:56am
Quoting SamuelKott
{quote} Yeah, you are right. In my opinion for begginers it's worth choosing brokers offer a micro account just to test their strategies and a broker as well. A demo account is obligatory, but it doesn't allow to chech how good withdrawal is, for example. There are lots of brokers offer micro, I used Tickmill as well and also Oanda.
Classic or ECN type? What are the average spreads there?
  • #27
  • Mar 16, 2015 12:42pm Mar 16, 2015 12:42pm
Quoting leebsurag
{quote} Classic or ECN type? What are the average spreads there?
they offer both account type, as classic account major spread are average 1.2 pips ( with no commision charged) it's good for any new traders, one who doesn't want to bother with commission calculation, low deposit requirement at 100. as Tickmill ECN has more competitive spread, 0.2-0.3 pips average with major pair, and 4$ round turn commission charged. for more information better check with their website, they put live feed price market quotes, or simply check with myfxbook spread page to had detailed information, as their ecn floating it's give different pips depend on market session.
  • #28
  • Mar 17, 2015 3:56am Mar 17, 2015 3:56am
Quoting fxindikator
{quote} they offer both account type, as classic account major spread are average 1.2 pips ( with no commision charged) it's good for any new traders, one who doesn't want to bother with commission calculation, low deposit requirement at 100. as Tickmill ECN has more competitive spread, 0.2-0.3 pips average with major pair, and 4$ round turn commission charged. for more information better check with their website, they put live feed price market quotes, or simply check with myfxbook spread page to had detailed information, as their ecn floating...

Can you find their spreads on Oil on MyFxbook? Want to compare it between brokers.
Seems there are only currency pairs shown..
  • #29
  • Last Post: Mar 18, 2015 2:12pm Mar 18, 2015 2:12pm
Quoting leebsurag
{quote} Can you find their spreads on Oil on MyFxbook? Want to compare it between brokers. Seems there are only currency pairs shown..
myfxbook only provide most currency pairs for now. or maybe several brokers are use different Oil symbol, and keep changing it as oil contract ended, they wont able to put such information as comparison. but you can use spread indicator on your mt4 platform to made comparison among brokers.
here's their Oil spread shown on trading platform
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