No traders can be an expert right away when they get involved into trading business. They have to get trained and to be trained they should plan clearly about what account they should start with what style of trading. There are a lot of best brokers in the world but they are not necessarily the best fit for your first trading plans and purpose. Here is the review for you to analyze the most important matters when you want to begin your trading field.
First, look at the top best brokers for beginners now:
XM: 9/10
Exness: 8.5/10
FBS: 8/10
Standards for beginners to consider
There are some standards should be put first to avoid risks. It is obvious that beginning traders should care about small trading lot requirement, low deposit and local service.
Small trading lot size
Most of brokers have the rule of how much traders can make the trading lot minimum. Usually, the number is 100.000 USD, which is quite big for beginners. Fortunately, there is second chance for starters with Micro account and Cent account. XM and Exness are two brokers who provide these two kinds of account and they do not limit the number for minimum deposit. Traders just need 10$ for one month to open these account and then practice trading. With Micro account of XM, the position value is only 0.00001 lot USD, and Cent account’s is 0.0001 lot USD. These minimum for position value is small and safe because starters lose anyway so small amount for position with the real won money is a perfect choice.
Reasonable limitation for deposit
There would be not cheating standing on the way of beginners because most of them start with a very small deposit and also the fees are not so big. Therefore, beginners are off the chest with all the concerns that ECN traders worry about. They better care about minimum deposit. For me, the number should be smaller than 100$ for three months. This is enough for the training time for beginners with the top forex brokers.
Support in areas
Language is difficult for traders coming from many countries that they are not good at English there. So, if they want help for the problems like MT4 system, 3D security of Credit Card they feel hesitated if they can use their own language to ask for help.
Tips should be kept in mind
- Demo account sounds like the account for beginners. Actually, demo account is traded based on unreal trading condition. Therefore, it is a big waste for traders because after trading demo account, traders will be surprised because of the differences with the real account.
- Some starters may like to jump into ECN account and are not aware that this account is complicated and starters are not skilled to handle the changing quotes, slippages and gaps of this account.
- Moreover, the news time is not the right time to open or close the orders like they may think. Expert traders mostly do this opening or closing action sooner or later than the news show in order to gain more benefit.
Top best suitable brokers for starters
Among them, XM seems to be the most perfect for beginners because they have the bright point that the value of position is just as small as 0.00001 lot USD and besides, they have the training sessions that help train new traders
Exness can come as the second most perfect with the minimum for orders of ECN account is 0.0001 lot USD and also, they are famous for the best support policies and and payment methods.
About FBS have all the good features above that are about the payment systems, supporting and account types. They are all good in the targeted areas that they have offices in Thailand, Indonesia, and Vietnam.
For Thai traders, click here to see ฟอเร็กซ์ โบรกเกอร์.
