Broker Suitable for Beginners

Beginner
C
Candra
14 Jul 2020, 13:32 866 Views
Which broker do you recommend for beginners? I'm confused about choosing a broker.

3 Answer

E
erik tri cahyo 28 Jul 2020, 21:03
To Candra,
A suitable broker for beginners is one that can provide a Cent trading account type and does not charge commission fees for each transaction. So far, brokers that provide this type of Cent account with those specifications and are quite popular among Indonesian traders are broker FBS, InstaForex, and LiteForex.

Hopefully this can help.
M
Maulana 30 Jul 2020, 08:41
Hi Admin, nice to meet you. I want to open a forex account, which broker should I open an account with? Considering the large number of brokers available and some unfavorable reviews about these brokers, I am confused about which broker to choose.
I would like a broker recommendation from the masters here.
R
rizki rosadi 31 Jul 2020, 16:34

@Maulana: I want to open a forex account, which broker should I open an account with?

The broker recommended by brother Erik above is quite good for beginners because it provides cent and micro account types that are commission-free.

It should be noted that for beginner traders, the main focus is to learn and build adequate skills to survive in the market. Many beginner traders, including myself, spent a lot of money at the beginning of their trading journey because their accounts were margin called due to still learning and not having adequate skills to survive in the market. Therefore, I suggest using cent and micro accounts so that the learning and skill-building process doesn't spend a lot of money like me and my friends used to.

For traders who are already consistently profitable and seriously want to develop their accounts, I recommend using accounts at brokers regulated in developed countries such as CFTC, NFA, FCA UK, FINMA, MiFID, BaFin, FSA, ASIC. These brokers have a high level of security but have a fairly large minimum deposit, small leverage, and have transaction commissions so they are less suitable for beginners who focus on learning the basics of trading and building trading skills. 

Add Answer

Loading editor...
Back to Forum

Forum

view all

Broker Testimonial

view all