Trust in these perfect forex brokers for beginners, huge success in trading forex will wait for you

BRKV - Forex trading is a long way to step on. This business involves your own effort. And it’s important to trade with the perfect forex brokers. To identify a perfect forex broker, it’s not a piece of cake, especially for beginners. If you choose wrong forex brokers, your trading career can totally collapse. But when you trade with a perfect forex broker, you will achieve many successes in your life. So, this means you have to be very serious about your trading career.

Don’t worry too much if you are a beginner to choose the perfect forex brokers. After a lot of years of trading with several brokers, searching and having experience in forex market, I’m happy to share you a list of best forex brokers for beginners.

XM.com: 9/10

Exness.com: 9/10

FBS.com: 8/10

1. Some popular criteria of the perfect brokers for beginners

For beginners, they have a tendency to learn a lot of information in forex trading and try to minimize their losses. So their criteria are different from other types of traders. Some popular criteria for the perfect brokers can be listed here as follows:

-       Requirements of Low deposit.

-       Requirements of small trading lot.

-       It’s easy to trade.

-       Good local support.

-       Reliable brokers.

-       Good training and coaching programs.

Requirements of Low deposit.

The number of money for deposit should be less than $100 for this beginning stage (3 months). They prefer learning than getting profit, so no brokers want to cheat them. They will help traders to improve and develop their trading skills, to give them the best conditions. Because beginners only trade with a little amount of money, so they don’t pay too much attention to the brokers’ credit, trading cost, and brokers’ quotes quality.

Read more : LOWEST SPREAD - IS IT FOR ALL TRADERS?

Requirements of small trading lot.

The sad truth in trading forex is that 95% beginners will lose. If you are a beginner, don’t give up. At the beginning, I advise you should open positions as small as possible.

The standard lot is 100,000 USD. It may be too much for you, 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 good news is you only have to pay $10 to deposit for the whole month of practicing if you trading with Micro and Cent accounts. Also, you can withdraw money when you win. Moreover, for these accounts, there are no minimum deposit requirements, so, you can deposit whatever amount you want.

KNOW ABOUT EXNESS SPREAD, CLICK HERE

Why “Easy” is important for beginners?

    No-one likes complexity but forex itself is complicated. This is a fact that cannot be controversy. Therefore, the good strategy for beginners is doing everything as simply as possible. Beginners try to find out the easy brokers. Here are some of my suggestions for beginners.

-     Choose the easiest brokers.

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

-       Deposit by Visa/Master at the beginning, because it’s a lot of easier than other payment methods.

Beginners need good local support brokers

It’s hard for beginners to understand foreign languages. A lot of forex terms are involved and complicated: login, installing MT4, 3D security of Credit Card, so if there are support of native language, it’s more convenient, easier and faster.

Reliable brokers

Beginners only deposit ten dollars for the first time, so no traders want to cheat beginners in the beginning. If they cheat, it will affect their credibility. Beginners can trade with any brokers as long as they are easy and convenient for those traders. This doesn’t mean you can trade with bad brokers.

When you have enough experience and knowledge, you’ll want to invest bigger amount of money in your trading. Then, let’s change to other reliable brokers if you want.

Good training and coaching programs

Training and coaching programs for beginners should be taken place by brokers every week or month. If so, it’s good news. Remember that if any brokers are not listed in trusted forex brokers 2018, don’t pay them deposit of money.

If you have to do so, you can register account, deposit a little money, learn and then change to better brokers after the training courses.

2. Misunderstandings of beginners

It's wrong when beginners believe that forex demo account is the best for them. Sometimes, Demo account won’t work well for beginners and it even has negative effects.

ECN account is the best account for experts. If you are beginners, please don’t work with ECN, because ECN is very volatile. There are a lot of slippages and gaps. I want to say this sad fact again “95% beginners will lose money, so don’t invest too much at the early stage.”

At first, many traders can get profit from 50% - 100%, even up to 10,000% but 99.9999999% of them will lose all later. This statement is concluded after my work and statistics. Most small traders will lose if they keep the profit rate over 10%. Actually, it's good if you keep a rate of profit from 3 to 5% a month.

Please don’t only base on the news to make your own decision. All experts don't trade in news release time. They will close/open positions about 15 minutes before/after the release time.

3. Misunderstandings of the perfect brokers for beginners

In the forex world, there isn’t any definition of “best”. There is only “the most suitable”. Sometimes it’s wrong if you want to trade with the best forex brokers at the first stage of trading forex. Your trading strategies, experience, country, trading condition will decide whether broker is suitable for you. You should aim to learn and minimize your loss as a beginner.

List of 3 best forex brokers for beginners

XM.com: 9/10

Exness.com: 8.5/10

FBS.com: 8/10

LEARN MORE EXNESS ACCOUNTS

XM and Exness are listed in the top biggest forex brokers, so they are reliable brokers. XM is a little bit better because XM allows you to open smaller positions (0.00001 lot USD). They also have many quality training programs.

Exness is the biggest retail forex broker. They have Cent account, so you can open as small position as 0.0001 USD. In addition, they have good support and payment systems.

FBS also has Cent account. Their support and payment systems are very good, but they only offer good services in countries where they have offices. Most of them are South East Asian countries such as: Indonesia, Thailand, and Vietnam.

4. Should beginners join demo contest for practicing?

If you are a beginner, don’t hope to get a high profit with demo contests. It’s just a waste of time. It may even have bad effect on your trading strategy, because demo contest trading strategy is focusing on profit and ignoring risks, which is opposite to the normal trading strategy.

5. Should beginners get welcome bonus?

Every trader like getting welcome bonus. If your brokers offer at first time, it’s highly appreciated. For some brokers, they don’t offer it, but it’s not a problem. Because it’s easy to register welcome bonuses but it’s very difficult to withdraw. Brokers often attach several conditions to withdraw. You must deposit and trade enough number of Lots. These conditions are dangerous traps to your big loss.

6.  Useful advice for beginners

- Trade Micro/Cent account.

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

- Learn risk management with care.

If you are received any promise to have a lot of profit and asked to deposit tens of thousands of dollars, don’t believe in that. One thing you need to keep in mind that: “the higher the profit, the higher the risk.” At first, beginners can win in some months or even in some years, but finally, they will lose everything.

Using robot to trading is bad thing. If you are sent a trading robot, refuse it at once. Robot trading is only suitable for experts, because they will customize these robots to obey their trading strategies, and they have to adjust them frequently.

My advice is to trade manually until you have a lot of knowledge and master everything in trading forex. Trading robot will be used when you’re sure that some automatic tools an inseparable part of your trading strategies.

Hey there, this is Fanara Filippo. I’m the author of this article and I’m currently collaborating with Brokerreview.net, or BRKV in short. My articles are mainly for forex traders from Thailand, Indonesia, India, Bangladesh, and South Africa.