Choose the best forex broker for beginners before you start trading forex; here are criteria in selecting the best forex broker. What are the best forex broker for beginners if I want to start trading forex to ensure safety of my funds, easy to deposit and of course no delay of withdrawal of profits? Asked by a reader of Daily Investing Tips from California, USA.
In this site we don’t have yet the top forex brokers list or the best forex broker in USA for beginners. There are blog about forex trading that has the list even of the top 10 forex brokers in the world this year 2019 or last 2018. Here are we want to share how to choose the best forex broker for beginners to start trading. What are the criteria in selecting or choosing your first forex broker in your forex trading journey.
Trade with a Trusted Broker | Lowest Spreads & Fast Platform
A. The best forex brokers should be trusted, reliable and recommended by many olf and professional forex traders. Tested on its high quality service to its clients especially when having troubles.
The best forex broker for beginners should carefully guide the beginners the following important things;
- They give important information about what is a forex trading and how it works
- They give clear ideas about the risk and rewards in forex trading
- The best forex broker for beginners should also have guides to read by beginners through PDF, a blog (if you are a forex trader make sure your website has a blog that loaded of useful information).
- The best forex broker for beginners should also guide the beginner on how to use the trading platform especially Meta Trader 4 and Meta Trader 5 on personal computer and on Android or IOS phone.
- The best forex broker for beginners should not insist to call the client by phone to deposit funds in his account unless he already have the knowledge and ready to trade using live accounts.
- A good forex broker should have a demo account offered for beginners to carefully understand what is forex trading.
- The bets forex broker has introducing brokers, agents that are very knowledgeable about the broker products and especially deep understanding in forex trading fundamentally and in technical aspects.
- A good forex broker should give market information to its traders.
- A good forex broker has trading platform not only for Mt4, Mt5, but alos has its own trading platform suitable for android phone, IOS, and even a in web. I prefer sometimes to trade in the web.
- A good forex broker will provide FREE VPS. I hope so. Some brokers offers VPS for free to run Mt4 24/7 but with condition, you need to deposit a certain amount before you get a free VPS from the broker.
- A good forex broker has its lowest spreads. Take time to understand what are “spreads”, commissions, lot size in forex trading.
- And most of all the best forex broker should not only focus on its interest to earn money from clients but offers high quality and a good relationship to its clients.
The Best Forex Broker for Beginners has Trading Apps
No doubt, all brokers allow the traders to use MT4 and Mt5. The best forex trading app are Mt4 and Mt5 ever, I prefer Mt4. The best forex trading app 2018 is of course Mt4 and MT5. Just use one and master the trading platform on how to use it like executing trades, loading charts, inserting different FX pair symbols, reading spreads, inserting expert advisors EA, inserting indicators in Mt4 and mt5, etc.
Related: Top 3 MT4 Indicators Useful for Forex & Stocks Trading
The best forex trading platform of course (for me) is MT4. Why Meta Trader 4? It is because some countries has slow internet connection. MT4 will run smoothly. Aside to that, there are Forex Expert Advisors that are fitted in Mt4. However, the ease of trading is in MT5 Meta Trader 5. Because you don’t have to calculate the stop loss or take profit. All you need to do is to insert numbers right beside the price, the drag and drop is also a good feature. Many professional traders use MT4.
Hey do yourself a favor, ask yourself. If you started from $100 trading account balance. Can your forex broker manage to let you withdraw your profits if you turned your $100 into $100,000? What about $1,000,000? See, choosing the best forex broker is not a joke! Make sure the forex broker you choose is tested, reliable, proven by many veterans professional traders. If other professional forex traders can withdraw $100,000 or even $1,000,000 at ease, then why can’t you?
Now you know the criteria in selecting the best forex broker for beginners. Before you dive your interest in forex trading, make sure you understand how to choose the best forex broker for beginners. Your skills in forex trading is useless if you used the forex broker with low quality service. After all, it’s all about the money, the passion, the dream! Poor quality forex broker will ruin everything; the passion, the money, the dream! It’s your turn. Now let me know what you think about the criteria in selecting the best forex broker for beginners. Use the comment box below and join the conversation. Thanks!