In recent times, there has been a growing trend that the majority of new traders desire to go for perfect brokers, not best forex ones. In fact, after getting a lot of failures, they decided to know how to choose perfect brokers. It would be therefore a good decision for them to avoid some unexpected situations. Before making a decision of choosing brokers, we should have a good insight into forex trading. I am sure that it is not easy for you to choose suitable forex brokers at the beginning. In order to have a good result, we should focus mainly on one kind of brokers that are the best suited for us.
Here are top three rated forex brokers that new traders can rely on.
- Should new traders get welcome bonus?
To begin with, we need to make sure that whether welcome forex bonus is good or not. From my own experience, having welcome bonuses from brokers is a great thing. However, it is quite onerous for forex beginners to withdraw their profit. At the beginning, they can easily register this type of bonus, yet you have to follow different conditions of brokers. In fact, it would be an arduous thing for traders to get their profit, and even they can lose their money if they obey brokers’ conditions.
- Is it better for beginners to join demo contest.
Normally, new traders often reckon that they can win demo contest, but it is a wrong perception. In terms of demo contest, it is designed for experienced traders because their highly profitable rate. It is the fact that they try to use robot trading to win this contest. Hence, it would be helpful for new traders to pay attention to other essential matters. On the other hand, demo contest is created to focus on profit and ignoring risks, thus new forex traders need to keep away from it.
- There are three best forex brokers for beginners.
What we can see from the list is that XM and Exness are top rated forex broker at this point. Hence, new traders can come to these two brokers in order to ensure the security. In fact, XM broker gives you a chance to open smaller positions which lead to little bit. Exness broker is always my top of choice. The simple reason why Exness is my impeccable choice is its trading conditions. Exness is offering Cent account which enables you have a good chance to open small positions. In addition to this, Exness always supports clients with a variety of good services.
- Why do traders should know some basic information?
Knowing whether forex demo account is suitable or not might be a chance of avoiding some bad situations. As I mentioned already, it is not good for you to opt for demo account. You might face some negative outcomes if you choose this type of account. If you are beginners, you should go for Cent account.
From my own experience, it would be hard for new traders to win at the beginning. In reality, 95% new forex traders lose their money after their first trading. It is advisable that they should not pour the big amount of money into their account at the beginning. What we might learn from this is that we can lose our money, but we should find suitable methods to minimize it.
- Some mistakes about the perfect brokers of new traders.
It is often said deemed that we should opt for best forex brokers who can give us a lot of profits. On the other hand, it is a serious misconception because it is very onerous for us to find this type of broker. I can understand why some people think that choosing best brokers can help us to collect more profits. However, it would be therefore a good scheme for new traders to choose suited forex brokers. This is because this way of option is really helpful for us when we do not need care about many things. Besides, we also need to have some great trading strategies which enable us to avert negative situations and gain profit.
- Several standards of the perfect brokers.
It is a basic step for forex beginners to pay more attention to different criteria of perfect forex brokers. Hence, at the first stage of trading life, we should focus on some important standards which are connected to perfect forex traders.
Here are some essential aspects that we should concentrate on.
– Low deposit requirements.
– Small trading lot requirements.
– Good local support.
– Good training and coaching programs.
Low deposit: in terms of experienced forex traders, they tend to gravitate towards reliable forex brokers, who offer good trading conditions and good quotes quality. If you are new traders, you should not deposit a lot. From what I have learned in the past, we need to consider some forex brokers who encourage you to deposit more. In this certain case, we need to stay away from these forex brokers.
Why do traders need to have small trading lot?
Obtaining valuable lessons from our mistakes can be a good method which allow us to understand many different aspects. In fact, we should open small positions at the beginning because we can lose our money at any time. From my perspective, new traders should come to Exness broker for enjoying many great things. In reality, Exness is offering Cent account and you can actually enjoy many good things. You can also open many positions as small as 0.0001 Lot USD.
Everything should be easy for new traders.
Normally, new traders find forex market difficult, even trading system. As a result, traders need to find easy things so that they can facilitate their trading process. In my opinion, forex beginners should follow these factors.
– Choose easiest forex brokers.
– Trading by web trade/web terminal at the beginning.
– Deposit by Visa/Master at the beginning.
Beginners need to enjoy good local support.
To my mind, brokers should support your native languages because forex market is really sophisticated. It would therefore be helpful for new traders to have support from brokers, especially urgent situations.
Trusted brokers is really necessary or not.
New traders can have different options to choose their brokers at the beginning. Because scam brokers will never aim at these traders. In fact, new traders tend not to deposit a lot of money which attract no attention of forex brokers. Hence, you can opt for any forex brokers if you feel suitable and convenient.
Good training and coaching programs
Forex beginners should know how to escape from some the requirements of brokers that they need to deposit more to gain benefits. In fact, new traders need to come to top rated forex brokers and try to deposit little money at the beginning.