The best forex brokers for beginners should be available 24/24 so that their traders can encounter problems at any time, because nothing can make a person more frustrated than being unable to get assistance at the time he or she needs it most.

As a trader, you need to check whether or not it is available for you to contact broker’s support team via email, live chat, or phone calls, etc. Then, you have to review the response time of the representatives who are responsible for supporting customers. Besides, you must consider whether or not your broker gave you a localized phone number which you can call for free.

Forex platform is the gateway for a trader to enter into the forex market though the best forex brokers for beginners. Thus, it must be credible and easy to use. Also, it must provide you with a variety of trading tools, e.g. clear charts, streaming news sources, economic calendars, etc. so that you can analyze the market. Additionally, the interface of the forex platform has to be designed well, having all functionalities labeled clearly as well as placed strategically.

In case a forex platform is designed poorly, it can lead to unexpected mistakes. For instance, it may waste your time and even money by causing you to go long on a position when you want to go short or adding to a position when you want to close a position.

When starting trading forex, you will be in need to choose an account type from the selection of trading accounts provided by your broker. Each type of account has its own strengths and weaknesses and is differentiated by the benefits it gives traders.

Example: Micro account allows traders to trade with smaller lot than standard and requires low minimum deposit. Also, this type has higher leverage. However, it also has disadvantage which is high spreads.

Trading accounts can also vary on the basis of spread types: some have fixed spreads, some have variable spreads. Sometimes they can be commission based trading accounts.

While professionals care about the brokers’ credit and trading cost, beginners should not concentrate much in this term since they just deposit such a small amount of money that no one would cheat on them. Brokers will give them the best trading conditions at this stage and so, the recommended amount is less than $100 for 3 months. New traders don’t have to care about the trading cost.

Brokersguru, led by Mr. Fanara Filippo, a long-time forex trader and brokers reviewer, is one of the most well known broker-review site in Asia. Our reviews are 100% based on personal experiences and absolutely unbiased.

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