Forex broker becomes one of the popular choices of trading instruments. There are choices of currency pairs that can be picked in forex trading and it opens various trading opportunities. It is true that options and opportunities are available, but it still needs proper attention in choosing broker, especially for beginners and new traders. Beginners need additional features that will bring them benefits so they will have chances to learn and practice while they are starting to conduct the trading activities. Thus, there are some recommendations of best forex brokers for beginners.
Some brokers can be called as good brokers for beginners when they have some features. One of them is support of learning materials. Beginners still need to sharpen their skills and deepen their knowledge so it is necessary to have learning programs and materials for them so they can have more chances to learn more about trading. Then, they need some types of accounts that allow them to train and give them more opportunity to learn without taking huge risks, such as demo accounts or cent accounts. It will also be great when the brokers provide excellent feature of copy trading.
As for the first recommendation, there is Admiral Markets. This is reliable choice of brokers for both beginners and professionals. For beginners, the broker provides very low minimum deposit threshold. It provides $1 as its minimum deposit so traders do not need to deposit big sums of money as deposit. They can start trading with low budget. Then, it has demo account and zero account. The demo account provides chances for traders so they can try the trading processes without worrying about the risks and loss. Next, there is XM Broker. This is also nice choice of broker for beginners. It provides minimum deposit at $5. It may not be lower than the one offered by Admiral Markets, but it is still considered as low deposit. Then, it has special accounts for beginners, such as micro account and demo account.
Third recommendation is FXCM. It is reliable broker and it has some good conditions for new traders. In term of minimal deposit, it may be higher than the previous recommended brokers because its minimal deposit is $50. As for the choices of account for beginners, it has some choices. There are demo account and mini account. These two give chances for traders so they can learn with some benefits so they will not take huge risks as they are trading in forex.
Other than those brokers, there is oanda fx. This is good alternative of broker and it is reliable broker. It is licensed and regulated by FCA and IIROC so transactions and trading processes are secured to give more protections. As for its good condition for new traders, it provides $1 as its minimum deposit. This is low and it is beneficial for the beginners. Then, it has many choices of trading instruments and it is not limited to forex trading. Even in forex trading, it provides many choices of currency pairs. Thus, it can be good option of broker for beginners and new traders.