Which FOREX Broker Would You Recommend for Newbies?

[User]

Forum transfer: Submitted by petaganayr on January 15, 2009 - 00:32.

Which FOREX Broker Would You Recommend? How much was your initial account balance when you opened your first FOREX trading account? How much leverage were you using and what was your margin requirement?

Thanks
Ryan

[User]

Forum transfer: Submitted by Mark on January 20, 2009 - 00:46.

Alpari US, $20 at 100:1, margin req - don't remember.

Result - don't do it, unless you have no clue where to spend $20.
Too little to attempt any serious trading, scalping - at best.

Lost it. Came back with $200, which is more or less capable of withstanding risks required for 1-4hour trading.

Mark

[User]

Forum transfer: Submitted by sam on February 2, 2009 - 10:03.

Don't go to FX Pro, you'll never get your money back!
I can transfer you all my E-Mail conversation with this doubtful broker!

Go to Oanda and/or FXCM and take if you prefer making first experiences only mini accounts.
500£ margin and leverage low.

There you'll get two different platform and different time table.

good luck
kind regard
sam

[User]

Forum transfer: Submitted by Jerid Martinez on February 3, 2009 - 17:34.

I have had accounts with ITradefx, Interbank FX, & FXCM. FXCM is who I use now my initial balance was $8400 USD 100:1
I like FXCM because they are the second largest broker out there just under Deutsche Bank, so I feel my money is very secure with them.
Also they have fractional pips so you can earn a little more money that way.
When you with draw money from the account you can put it on your ATM card and have your money within 24 hours vs 1-2weeks waiting for a check.

FXCM is the best!!!

Keith
"Aim for Not what you are But for what you can Be"
~Jerid Martinez~

[User]

Forum transfer: Submitted by Shelly on February 11, 2009 - 07:13.

You can go to http://www.dailyforex.com where you'll find broker reviews and recommendations targeted mainly for newbies.
Shelly

[User]

Forum transfer: Submitted by shinaiqbal on May 25, 2009 - 05:38

The way i choose my broker was through: 1. Reputation 2. User friendliness 3. Market survey 4. Spread and brokerage 5. Easy withdrawal/deposit 6. Market analysis and Daily FX updates 7. Supportive customer care And trust me my broker fulfilled every need of their traders.

[User]

Forum transfer: Submitted by rosy on June 2, 2009 - 12:39.

I selected some points while selecting a good broker:
-Comparing FX trading brokers
-Minimum deposit required
-Amount/type of commissions charged
-Spreads for major currencies
-Availability of mini Forex accounts
-Availability and quality of demo currency trading account
-Number of currency pairs offered
-Well all you need to select a broker which suits your trading style
- Leverage offered by them
- Minimum Lot size
- Demerits
- Promotional offers or bonus offered by them

[AsherEWT]

Have you considered a CFD Broker such as CMC Markets or IG Markets

the benefit of working with CFD broker is that you'll also get access to many other ranges of markets such as Commodities and Stock Indices ... besides Forex of course

[Edward Revy]

Adding to that, in very simple words about reliability, a broker that offers wide variety of products besides Forex is looking much more solid than a broker with Forex trading services only.

[AsherEWT]

100% agreed.

Depending on your country of residence, you might be able to choose where you want to be redirected on http://www.igmarkets.com/

PS: Please note that because USA doesnt allow the CFD Model of trading IG Markets can only offer you Forex Trading, should you choose United States from the list. for the rest of the places, you get all the choice of 1000s of Stock Equities, Future Markets, Commodities, Sectors and of course Forex.

Happy trading

Adding to that, in very simple words about reliability, a broker that offers wide variety of products besides Forex is looking much more solid than a broker with Forex trading services only.