broker for newbie

i've decided to get going, enough learning about the trade..(forex), i have to start "making money" i would love to get recommandations of forex sites that are easy to use, and are able and willing to allow demo accounts, and later on, hopefully, accounts that able low starting rates.
i've not yet found a site that suits me...
for begginers (as myself) that are reading my post please be in touch and give me a tip or two, from a begginers point of view!
thanks...i'll appreciate it!
frxer

I too am similar in that I thought when I set out by now I would be live in the market, however as usual things in life take longer and the ole denial reared its head and I've held off for more than a year now. That said I have been gleaning bits of info about ways to go, the first being Saxobank, however I downloaded their demo and the first good trade I wanted to enter on a signal wouldn't take it and my entry moved from 8012 to 8020 before I could enter on MT4!! So I will have to find out why etc. The other from a thread on yahoo I've been following for backtesting programming signals and is mainly way over my head they seem to be using interbank, not sure yet if this is a broker but perhaps someone could enlighten me and others with their testings live so my learning curve isn't so steep......as it has been

read the profiles on the broker page, there is a link to each brokers demo account and it tells what the minimum account balance is...

there's no broker for newbie.not all brokers are genuine but a broker specifically for newbie doesnot work.

Making sure that you understand that the market will always be different is something that's important. In any given day, Forex market on any trading instrument may live through the entire market cycle you otherwise see forming for years in stock markets. In any given day a Forex news event or a currency intervention by a Central bank may change the course of the market for days or months to come. Also, don't expect to understand the Forex market, because nobody can explain it. Fundamentals work for long-term investing in stocks and futures, but with foreign exchange, it's all about movement here and now. You can profit from minute changes in currency prices, but don't expect to be able to explain their nature.
I think that these are both important because you don't want to think that you will be able to make the money you do all the time. Things will change like everything in life does. So, if you do make a good amount of money this month, you might not the next month.

Make sure you know and understand the basics of forex itself, including how to operate the platform itself and how to make profits on buy/sell. Then you may want to train yourself in demo account (almost every broker has an access to demo account). Train how to analyze the market in order to build your own trading strategy. Take your time wondering around in this forum, you might find something useful.

Newbies are the FX Broker's breakfast, lunch and dinner ...

I used to be a FX broker before becoming a professional FX trader.

Open a demo first, know the broker i.e I mean their reputation the kind of regulation and how you will be protected (these are things I always tell my students in the course)

Look out for the things that matter for you, we all have our own list prior to our trading.

Start small 1000-5000. When it works out for you they withdraw on time etc and platform is fine then invest and trade slowly building your portfolio.

All brokers are similar, but the most important aspect is that the platform, charts and execution suit your needs. The rest are all extras.

Most important you definitely should learn and understand how the market works before going live.

Good luck and Happy Pipping

play nice!

Hello,

I too want to know some good brokers as there is a long list of forex brokers, which has confused me. I have searched a lot about the popular ones and the new ones, don't know which one to go with.Please give some advice.

Thanks in Advance.

I would highly recommened "tickmill" They are by far the best broker I have ever traded with. From spreads to withdrawals, the company is the best in the market!

yeahh, that's true! I suppose Nemo was more aware about what was going in than these newbies))

Lol dude

But that's true, especially for those newbies who doing live trading without any proper preparations...

I tried plus500 demo mode and it was not good. I personally concluded that 1:200 leverage is way too high and equals gambling and that I lost most to not so large spreads.
So I would be interested in broker advice, with demo with as low as possible spreads and with low leverage in that demo or even better ability to adjust it.
I am kinda looking into cornertrader.ch, but really interested in other advises.

for newbie, we must be careful in choosing a broker because many brokers who scam. To select a broker then we need to be able to test out the broker that we will use for trading and therefore will get the right broker. we can test the broker with a demo account

the proper way to vet a broker is to purchase their company's financial statement from their respective governing bodies, see how much clients capital they are holding in their trust accounts. demo accounts dont compensate for slippage and unfilled levels. but money speaks. so learn to listen to it talk and follow it. there are reasons why some brokers are entrusted with millions of clients capital while some holds peanuts

sample of stuff u need to look out for

There are a lot of articles with some advice how to recognize sсam brokers. You should find and read them. Then you will be able to understand which brokers you should avoid and which ones are worthy of note.

Thanks all for advises.
I again back to practicing on plus500 demo somehow, I think this one is really popular and will not scam. I think I will open really small real account with them next week or so.
Besides that another one I looked into asked crazy huge amount of initial deposit, like thousands of euros.