The best forex brokers in the world is easy to find but the best ones for beginners are complicated so traders must understand all brokers to find out the best one for themselves. Traders must come across three stages of forex path, they are beginners, professionals and experts. Each stage must cooperate with each brokers. Depending on traders’ targets and strategies, traders will choose for themselves the best ones. In this article, I will review all aspects of the best forex brokers in the world for beginners. If you concern about this problem, let’s read until the end of the article.
Below is the list of the top forex brokers for beginners
- Notices for beginners
- The demo account: Many people believe that demo account is the best one for beginners. However, this thinking is completely wrong. As you know that demo account offer the easy trading conditions to attract more traders signing in their system. If traders trade with demo account, they would waste of time practicing again with the real account with real trading conditions.
- ECN account: If you are a beginner, you should keep away from ECN account. Because ECN account contains many slippages and gaps. So don’t invest too much money at the early stage.
- Standards of the best forex broker for beginners
To be the best forex brokers for beginners, that broker must have below standards:
- Low deposit requirements.
- Small trading lot requirements.
- Good local support.
Low deposit: As I mentioned before, beginners should not invest too much money at the beginning point. So the broker with low deposit is the best choice for them. So traders only deposit $100 to practice within 2 or 3 months, they won’t need to care about the trading costs.
Small lot trade requirement: At the beginning point, you should open as many positions as possible to experience much about situations of trading path but it must save the money as well. That is the reason why there is available Cent or Micro account. For example, XM offers Micro account with 0.00001 USD lot trade. Exness and FBS offer Cent account whose minimum lot trade is only 0.0001 lot USD. If you trade with Cent or Micro account, you only need to deposit $10 for a whole month of practicing. Moreover, you can withdraw money if they win.
Good local support: The customer service is very important for the early stage because beginners often don’t know much about forex trading. Many brokers have created the customer support through live chat, hotline number and local offices. Even they can help their clients in multiple languages such as Chinese, Japanese, French, etc.
- Top 3 best forex brokers for beginners
XM and Exness are in the top biggest forex brokers, so they are trusted brokers. While XM allows traders to open smaller positions (0.00001 lot USD). Exness is the biggest retail forex broker. They have Cent account with which you can open as small position as 0.0001 USD. Their advantages are the support and payment systems.
FBS also has Cent account. Their support and payment systems are very good, especially they offer good services South East Asian countries such as: Indonesia, Thailand, and Vietnam.
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