Step 8 Deposit Funds: You can choose methods like a card or bank transfer for depositing. Watch out for brokers that charge extra fees during deposits. Also, avoid any brokers that charge excessive withdrawal fees. Forex brokers act as intermediaries between traders and the market. When you open a trading account, you will need a platform to analyze CFDs, and place and monitor your trades.

These platforms are offered by CFD brokers and they are divided into two categories. A forex broker can have both or one of the categories. Third-party platforms are trading apps or software developed by another company. Forex brokers partner with these companies to develop these platforms for them. A common example of these is MetaTrader 4, MetaTrader 5, and cTrader. These three are the most popular trading platforms. They are available on mobile phones, desktops, and web-based trading platforms.

The mobile versions are available on Google Play Store and App Store. TradingView is a typical and common example of this kind of platform. Proprietary platforms are the opposite of third party platforms. They are owned and developed by individual forex brokers. Some forex brokers prefer to develop their own apps and software for traders. They can be available on mobile, desktop, or on the web.

eToro, for example, does not have any third-party platforms. They only offer their CFD trading platform and Copytrader. The forex market is very liquid and this liquidity has caused a lot of traders to throw caution to the wind and even become greedy. Most retail traders trade forex because of leverage, and this can cause losses to escalate very quickly. Let us discuss some risks. There are lots of unlicensed brokers who lure unsuspecting traders with promises of huge returns with low investments.

Some of them claim to hold licenses from regulators in countries that are not known for strong regulatory supervision. Forex traders in South Africa must only trade via FSCA-licensed forex brokers. In the screenshot below a forex broker — Exness — has an FSP number which is used to search on the FSCA website to produce one match.

They go as far as hosting websites with logos and registration numbers to deceive unsuspecting targets. Forex traders must be watchful and look out for red flags such as little differences in the broker name. Forex traders should also report any cloned page they come across to the FSCA. Scam brokers do exist so you should be wary of them and report anyone you come across to the FSCA. The first two risks that we discussed are associated with the risk due to a third party i.

your broker. We will now talk about the risks that you face with actual trading. This being said, forex traders should resist the urge to open an account with brokers outside South Africa who offer higher leverage. The actual percentage depends on the broker to broker. This is mainly because of over-leveraging a position. Traders must avoid using more than leverage on any forex trade.

The use of leverage should be done responsibly as it amplifies both gains and losses. You should find out if your broker offers negative balance protection so as to stop your account from going into negative. You can also use Stop Loss orders to automatically exit a position if the loss exceeds a certain level.

Stop-loss orders are automated instructions a trader gives the broker to exit his trading position once the price goes below a predetermined amount. Stop-loss orders could be used to manage risk. The forex market is very volatile and should be approached with caution. If you are risking too much on a single trade, then you can lose very quickly. In fact, most of the retail traders trading in the forex market lose their money.

It is really important to practice risk management on a demo account for some months before going live. For ensuring that your funds are safe with the broker, you must only trade via regulated brokers. Is Forex Trading Profitable? There are many risks involved with forex trading for retail traders, and most of the retail traders lose their money.

So you must understand that there is no certainty of profits. Do forex traders pay taxes in South Africa? Yes, South African traders are required to pay income tax on profits generated from forex trading. This rule applies to offshore forex trading accounts too. How do I start my forex trading? To start forex trading in South Africa, first compare the many forex brokers that are regulated in South Africa, then open a live trading account with your preferred broker.

Next step is to download their trading platform, make deposits and start trading. You may need to watch some educational videos on using the trading platform. You can find such videos on the forex brokers website. What is forex trading and how it works? A forex trader speculates on the prices of currencies. If the trader is right and the USD becomes weaker, the trader makes profits from the difference.

Forex trading generally involves leverage, which is very risky as we explained in our guide. How much do I need to get started with Forex Trading? The amount of capital that you put totally depends on your risk level.

Most brokers allow low deposits. Depending on how much risk you want to take, you can decide the amount. But it is really important to never trade with capital that you cannot afford to lose as the probability of losses for retail traders are very high.

The second last step is to complete Financial details, including the applicant's annual income and employment history. In the final step, Applicants must provide their trading history. Once this step has been completed, the application can be saved and closed. The Forex market does not have a central regulator and beginner traders should look for regulatory authorities found in their country of residence. For example, South African Forex Brokers will be regulated by The Financial Sector Conduct Authority or FSCA.

Services to consider include the trading platform on offer, available trading tools, and customer support, to name but a few. Online Forex trading can and has been a great income-generating activity but making use of the Brokers services will come at a cost. Cost may include a minimum deposit in order to open an account, commission per trade, rollover fees, or deposit and withdrawal charges.

Step 1: Open the Forex Trading Platform on offer. A trading platform refers to the software interface provided by an investor's chosen Forex broker. A trading platform gives customers to access as traders to the Forex markets.

Forex Trading Platforms may be available as an online web-based portal, a mobile app, a downloadable program, or a combination of the three. This will be depended on the Broker chosen. The next step is choosing a currency pair and opening a chart. This is done by selecting a timeframe.

A forex chart will graphically illustrate the historical behavior, across a variety of time frames, of the relative price movement between two currency pairs. Next, the trader will add technical indicators to the chart opened in Step 2. The customizable settings for technical indicators will include price, volume, and open interest. After technical indicators have been set, a trader can prepare to place the order. Orders should be placed according to how a trader aims to trade and how they intend to enter and exit the forex market.

After an order is opened, a trader will set its stop loss and take profit levels. This is an optional but highly recommended step to take. Setting the stop loss will limit a trader's losses in case the market moves in an unexpected direction. In turn, setting a take profit level will ensure that the trade exits profitably once the market makes an expected downward move. The next step is to submit the order and wait for the confirmation screen.

The order confirmation screen is extremely important as it serves as a ticket number — which can be used as a reference. The second last step may seem like the easiest step, but it may be the most tedious of all. Step 7 — the waiting period begins.

Some expert traders recommend turning off the screen and walking away from the market once the order is entered. And finally, the trade is complete! A trader's first trade may result in either a profit or loss.

Either way, it should be seen as a learning experience. Overall, Forex Trading has the potential of being profitable. Novis traders need to understand that Forex is not a get-rich-quick scheme, nor will it be fast money and success and Profitability in Forex can and will only be achieved when an investor understands the Forex Market, Trades with the Right strategy, Selects the right Broker, and makes use of safeguards such as stop-loss orders.

CFD's are offered on a range of markets. Forex trading is very often perceived as a way to make money easily, however, it is fair to say that forex trading can be quite difficult and may not be suitable for everyone. Beginners forex traders should take note that it takes more or less one year to learn forex trading.

While the technical side can be grasped in a few weeks, elements like psychology of trading and risk management take a lot longer to understand. Forex traders, and especially beginner traders should take special care when choosing a broker, because factors like pricing, execution and even the quality of customer service can make a big difference to your trading experience.

There are many people who turn to forex trading thinking that there is a lot of money to be made; however statistics reveal that most of these aspiring forex traders fail fast and some even end up losing substantial amounts of money.

There are plenty of ways you can teach yourself forex trading, etc. with books, websites, videos, forex market colleges and institutions, following well-known successful traders on social media, forex guides, webinars to name but a few. If you are a beginner forex trader a good tip is to know the fundamentals of forex trading e.

Educate yourself on the forex market, Create a trading plan and stick to it, Test your trading plan with a risk-free practice account demo account , Know your limits and when to stop. Don't let emotion overrun you, Slow and steady wins the race. Price and trade data source: JSE Ltd All other statistics calculated by Profile Data.

All data is delayed by at least 15 minutes. Telephone number: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.

Top 4 Brokers. Comprehensive support and training, Global presence with a local feel, Uncompromising security, Advanced trading platforms.

Forex Brokers. Forex Trading Platforms. Trading Platforms. Brokers by License. Brokers Types. Broker Reviews. Brokers to Follow. Brokers by Account Type. Index Trading Platforms.

Forex Trading South Africa. BEE Shares. Most Popular JSE Shares. Most Popular 20 Global Stocks. Build Your Own Share Portfolio. Open a FREE Trading Account. Open a FREE Trading Account Menu. What is Forex Trading in South Africa?

Min Deposit. Official Site. Visit Broker. User Score. Sign Up. Avatrade - 1 JSE Trading Platform. Time to open Account - Only 12 Hours Low Commissions Invest in any JSE Top 40 Share. Open a Free Trading Account. Louis Schoeman. Featured SA Shares Writer and Forex Analyst. Table of Contents. Tifia Sign Up Bonus Best Forex Brokers in South Africa. Trade with a Regulated Broker. Useful Links. News Terms of Service Disclaimer Privacy Policy About Us Contact Us Advertise With Us Join SA Shares Forum.

Follow Us. Facebook Twitter Youtube Linkedin Pinterest Telegram. Most Popular. Our Address. FSCA South Africa. FINMA Switzerland. CYSEC Cyprus. FMA New Zealand. DFSA Dubai. BaFin Germany. FSA Seychelles. SCB Bahamas. Raw Spread. Commissions USD Base. Minimum Deposit. Swap Free Account. No Inactivity Fees. Funding Methods. No Funding Fees. Currency Pairs. Index CFDs. Share CFDs. Commodities CFD.

Retail Max Leverage Australia. Max Leverage Australia. Retail Max. Leverage The United Kingdom. Leverage Europe. Leverage UAE. Leverage Singapore. Leverage South Africa. Leverage With offshore regulators. MetaTrader 4 MT4. MetaTrader 5 MT5. Proprietary Platform. Automated Trading. Standard Stop Loss. Guaranteed Stop Loss. Demo Account. Plus Is The Best Forex Broker For Beginner Traders Plus is a CFD provider that offers its proprietary trading software as a web trader platform or mobile app.

Mobile Trading Apps Whether you are using a mobile or tablet device, Plus offers an easy-to-use proprietary trading app, well-suited to beginner traders.

To add further transparency regarding financial reporting and regulation, the CFD provider is listed on the London Stock Exchange and overseen by seven different tier-one financial authorities: FCA Financial Conduct Authority UK CySEC Cyprus Securities and Exchange Commission ASIC Australian Securities and Investments Commission FSCA Financial Sector Conduct Authority, South Africa MAS Monetary Authority of Singapore ISA Israel Securities Authority FMA Financial Markets Authority, NZ Note: FCA regulation changes mean PlusUK cannot offer cryptocurrency products for trading.

Pepperstone Is The Best MetaTrader 4 Forex Broker Pepperstone is a regulated broker with ASIC, FCA, CySEC, BaFin, CMA, and DFSA that facilitates forex and CFD trading for traders around the world.

Why Pepperstone Is The Best MT4 Broker For Beginner Traders MT4 is suitable for both beginner and experienced traders, with extensive financial instruments and automated trading tools available. MT4 trading tools and features include: A customizable, user-friendly interface.

Charting tools with 85 inbuilt indicators. Algorithmic trading via Expert Advisors EAS, trading robots. Develop your own EAs using the MQL4 programming language. Download EAs from the huge MT4 community and marketplace. Robust backtesting tools for EAs. AutoChartist automatic market scanner to detect trading opportunities. Third-party account mirroring services Myfxbook, ZuluTrade, and DupliTrade.

Limit and stop-loss order types. Real-time news. No Dealing Desk Execution Pepperstone fills orders using 22 top-tier liquidity providers, giving traders access to some of the best spreads available to retail investor accounts.

Negative Balance Protection. Low trading fees with spreads from 0. Three leading trading platforms, including MT4. Tier-1 regulation in the UK, Australia and SA. As well as weekly webinars and trading platform tutorials, there are also trading guides covering topics like: Understanding Market Trends Support and Resistance Chart Patterns Introduction to Candlesticks Building a Watch List MT4 Tips and Tricks Introduction to Price Action Customer service is available 24 hours a day, 5 days a week weekdays and operates from the following locations: London, UK Melbourne, Australia Johannesburg, South Africa There are also local numbers for Italy and Spain.

MetaTrader 4 MT4 is the most popular trading platform worldwide and is ideal for beginner forex traders. MT4 features include: Ultra-fast trade execution and minimal slippage. AutoChartist: An automated market scanner that helps you with technical analysis. Automated trading: Algorithmic trading with Expert Advisors EAs and copy trading with Trading Signals.

Backtesting to test and optimize Expert Advisors. Multiple pending order types to manage the high risk of trading. MetaTrader 5 MetaTrader 5 offers certain improvements compared to MT4 including more timeframes, technical indicators, charts and pending order types as well as improved backtesting, yet many features such as AutoChartist and the platforms social trading tools remain the same.

ThinkTrader platform features include: Real-time market news and alerts. Sophisticated technical analysis tools: technical indicators, 40 objects, 12 timeframes and 10 charts.

Close all or multiple orders with one click. Multi-device login between desktop, tablet and mobile apps. Trend-risk scanner: Trading signals feature that automatically scans markets for trading opportunities. Pending order types include limit and stop-loss orders. A range of asset classes including forex, commodities, indices, shares and cryptocurrencies.

ThinkMarkets is overseen by three core financial authorities, with trading regulations varying between jurisdictions: Australian Securities and Investments Commission ASIC in Australia — AFSL Financial Conduct Authority FCA in the United Kingdom — License Number Financial Sector Conduct Authority FSCA in South Africa — FSP No ThinkMarkets is the Best Online Broker Overall for Beginner Traders ThinkMarkets is a top CFD broker ideal for novice traders with relatively low fees, top-tier regulation, and strong trader protection policies.

eToro Is Top Social Trading Platform For Beginners eToro is a pure social trading broker and platform that suits beginner traders wanting to spend as little time possible researching financial markets and developing trading strategies. CopyPortfolios Rather than copying Popular Investors, you can also invest in CopyPortfolios that include a bundle of financial instruments. Market Portfolios: A bundle of top-performing assets such as Share CFDs, ETFs and Commodities.

com Has The Best Demo Account For New Forex Traders One of the best educational tools you can utilize as a beginner trader can use is demo accounts.

easyMarkets Offers Leading Risk Management Features easyMarkets offers forex traders 4 unique risk management tools to reduce the risk of CFD and forex trading.

Fixed Spreads Most broker spreads are variable, this means you can experience slippage as prices can change during the execution of your trade. Free Guaranteed Stop-Loss Orders All forex brokers offer basic stop-loss features to manage risk, which allows you to pre-set the amount you are willing to gain or lose on a trade.

CMC Markets Has Huge Range Of FX Pairs And Stocks CMC Markets provides access to over 9, financial markets and is overseen by multiple top-tier regulators around the world FCA, IIROC, ASIC, FMA and MAS. Next Generation The easy-t0-use trading platform is available in a standard layout suited to beginners, or an advanced layout for experienced traders.

Comprehensive charting tools: technical indicators, 70 chart patterns, plus 12 chart types. Automatic pattern recognition and price projection tools to find trading opportunities. Client sentiment data. A trading community with chat forums to share ideas and chart analysis. iOS and Android mobile apps. Real-time news and financial market calendar.

Multiple order types, including guaranteed stop-loss orders. FP Markets Offers Top Automated Trading Tools for Beginner FP Markets is an excellent option if you want to fully automate trading, as the broker offers ultra-fast execution plus comprehensive automated trading tools on both MetaTrader 4 and MetaTrader 5.

MT4 and MT5 Expert Advisors You can develop and run Expert Advisors trading robots on both MetaTrader 4 and MetaTrader 5. Myfxbook AutoTrade for MT4 If you prefer copy trading over algorithmic trading, you can directly connect Myfxbook to your FP Markets MetaTrader 4 account. AvaTrade Is A Great For Mac Forex Traders. com Has The Best Forex Platforms For Beginner Traders Markets. com as the best broker that has the best forex platforms for the following reasons Choice of 4 trading platforms with a wealth of features to help beginner traders Low spreads with no commissions Wide range of trading products Regulation across multiple Tier-1 jurisdictions The Best Trading Platforms Markets.

com offers 5 different trading platforms to choose from. These platforms are Marketsx — Designed by Markets. com for CFD trading. This platform offers everything MT4 offers and much more Mobile — Marketsx on your mobile for trading on the go One appealing aspect of Markets.

Specialized tools with Marketx There are three key types of trading tools that can be used to analyze the financial markets: Sentiment Tools: Various tools are built into the platform to help you assess current market sentiment, and whether most traders are buying or selling. News Trading Sentiment or Trading Analyst Recommendations. Technical Analysis Tools: To help you conduct advanced technical analysis, Marketsx has a pre-installed charting package with various indicators and oscillators.

There is also a Related Instruments tool that displays the correlation between different financial instruments. Fundamental Analysis Tools: Includes features like advanced alerts, financial commentary, and real-time news from Dow Jones, to help you keep up to date with impactful economic events.

MetaTrader 4 and 5 If you prefer to stick to more mainstream trading platforms, Markets.

A beginner forex trader needs to select an appropriate forex broker that has an easy-use forex trading platform, training guides and strong customer service.

We analyzed the best beginner forex brokers based on the factors below. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally.

Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees. He has an MBA in finance from the University of Miami Herbert Business School.

As a Senior Financial Analyst for Alphabet with an active CPA, Riley has a vast amount of financial knowledge. He has a Master's Degree in economics at Penn State University and a B. He also owns the website Young and the Invested providing investing advice for young individuals. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Plus is a CFD provider that offers its proprietary trading software as a web trader platform or mobile app.

You can trade a wide range of financial instruments as a Plus client, gaining access to over 2, shares, cryptocurrency, option, index, commodity and forex markets. As a market maker broker, customers trade spreads with the broker setting its own bid-ask prices and filling orders using its own internal liquidity. Plus spreads are wider than ECN brokers, however, have no commission costs on top of the spread.

Overall, there are minimal trading fees and account management costs, as you pay no fees when depositing funds and no commission fees when you open or close a trade.

Whether you are using a mobile or tablet device, Plus offers an easy-to-use proprietary trading app, well-suited to beginner traders. Plus offers excellent risk management features with top-tier regulation and guaranteed stop-loss orders GSLOs. As forex and CFDs are complex instruments that come with a high risk of losing money, strong risk management tools are vital for beginner traders.

To add further transparency regarding financial reporting and regulation, the CFD provider is listed on the London Stock Exchange and overseen by seven different tier-one financial authorities:. Note: FCA regulation changes mean PlusUK cannot offer cryptocurrency products for trading. Other subsidiaries still offer as they use a different regulator. While signing up to a highly regulated CFD provider protects your funds and provides negative balance protection in certain locations, you can manage risk yourself using basic and premium pending order types.

GSLOs allow Plus customers to pay a premium to receive a guarantee that Plus will execute your order at the price they specified, regardless of gapping. Pepperstone is a regulated broker with ASIC, FCA, CySEC, BaFin, CMA, and DFSA that facilitates forex and CFD trading for traders around the world.

If you are a resident of the UK or Ireland, the broker also offers spread betting services. The top broker offers the MetaTrader 4, MetaTrader 5, and cTrader trading platforms. Each platform provides ultra-tight spreads, fast execution, and great market access, yet we recommend using MT4 for the great range of trading tools Pepperstone offers on the platform.

MetaTrader 4 MT4 is the most popular forex trading platform worldwide. An advantage if you are a beginner forex trader is you can switch between MT4 forex brokers if needed since most online brokers offer the platform. MT4 is hugely popular for several reasons, including the ability to copy-trade and purchase automated robots from the widest trading community currently available for retail investor accounts. MT4 is suitable for both beginner and experienced traders, with extensive financial instruments and automated trading tools available.

As well as the comprehensive range of inbuilt trading tools, MetaTrader users can download an add-on suite of Smart Trader Tools to enhance the MT4 platform. The package includes 28 additional technical indicators and Expert Advisors, designed to automate market research, analysis and trading.

Pepperstone fills orders using 22 top-tier liquidity providers, giving traders access to some of the best spreads available to retail investor accounts. The broker executes orders with no dealing desk NDD and straight-through-processing STP , with Equinix servers allowing for fast execution speeds.

As shown below, Pepperstone executes orders faster than competing online brokers, ensuring you experience minimal slippage. As CFD and forex trading is complex and comes with a high risk of losing money, Pepperstone provides an excellent demo account and quality educational resources.

The course is ideal for beginner traders as it helps you learn your way around the trading platform. You can learn about the extensive platform features, mobile trading, Expert Advisors, VPS, and Smart Trader Tools with the part course.

Lastly, the top forex broker offers a demo account where traders can explore the MT4 platform and test trading strategies. ThinkMarkets offers two forex trading accounts. You pay no funding costs when using deposit methods such as wire transfer, debit card, Neteller, Skrill and credit card. In Australia, PayPal and POLi are available payment methods, while in South Africa Zotapay Africa is offered.

On top of fee-free deposits, you also pay no withdrawal fees. A unique feature offered by ThinkMarkets is that all customers receive negative balance protection.

This helps reduce the high risk that comes with forex and CFD trading, as you cannot lose more than you have deposited into your trading account. If negative balances occur because of high volatility in CFD and foreign exchange markets, the broker will pay you out any negative balance. Most forex brokers do not offer this feature, which gives you peace of mind when using the ThinkMarkets platform.

The ThinkMarkets standard account type is a spread only account that does not charge flat-rate commission fees. The minimum spread is 0. If you are an experienced trader wanting ECN-style pricing, a ThinkZero account type is available that offers tighter spreads, but you pay a flat rate commission fee. Although spreads are wider than a ThinkZero account type, standard account types are better suited if you are new to trading, as you can avoid commission fee calculations. ThinkMarkets offers an online training course for beginner, intermediate and experienced traders.

As well as weekly webinars and trading platform tutorials, there are also trading guides covering topics like:. Customer service is available 24 hours a day, 5 days a week weekdays and operates from the following locations:. MT4 is the most popular trading platform worldwide and is ideal for beginner forex traders.

MT4 features include:. AutoChartist is an excellent tool if you are a beginner trader, as the software automatically scans CFD and foreign exchange markets, seeking trading opportunities that those new to trading may miss.

AutoChartist simplifies and automates technical analysis, allowing you to save time researching markets and conducting analysis. MetaTrader 5 offers certain improvements compared to MT4 including more timeframes, technical indicators, charts and pending order types as well as improved backtesting, yet many features such as AutoChartist and the platforms social trading tools remain the same.

MT5 is better suited if you want to trade share CFDs, as the platform provides access to a wider range of financial instruments, including stock markets and ETFs. Both MT4 and MT5 are available as the following trading apps:. To trade forex via ThinkTrader, you can choose between a desktop trading platform and trading apps compatible with both iOS and Android devices.

ThinkTrader platform features include:. As a beginner trader, you should choose a broker that has tier-1 regulation. ThinkMarkets is overseen by three core financial authorities, with trading regulations varying between jurisdictions:. ThinkMarkets is a top CFD broker ideal for novice traders with relatively low fees, top-tier regulation, and strong trader protection policies.

If you want to learn how to trade forex before using a live account with real money, ThinkMarkets offers a demo account. eToro is a pure social trading broker and platform that suits beginner traders wanting to spend as little time possible researching financial markets and developing trading strategies.

eToro clients can copy the trading strategies of experienced traders, known as Popular Investors. To find trading strategies to copy that suit your risk tolerance and investment objectives, you can view a Popular Investors trading history, portfolio performance, and location. Social trading is a soft entry into currency trading for beginners as more experienced traders are conducting the fundamental and technical analysis for you.

It can be an opportunity to learn from active traders who have vast experience in trading financial instruments. Rather than copying Popular Investors, you can also invest in CopyPortfolios that include a bundle of financial instruments. As well as a standard account type, the CFD broker offers an award-winning Raw Spread Account type. Similar to ECN brokers, IC Markets connect customers with top-tier liquidity sources such as banks and financial institutions, allowing retail investor accounts to access institutional grade spreads with no dealing desk NDD execution.

Rather than wider no commission spreads, Raw Spread account holders gain access to ECN-like spreads as low as 0. To compensate IC Markets for its brokerage services you pay flat-rate commission fees based on volume. With IC Markets, their market size and access to top-tier diverse liquidity pools help them achieve the lowest average spreads of any broker. As shown below, IC Markets Raw Account spreads are competitive. The online broker offers the tightest spreads for major forex pairs, such as:.

spreads are taken from each broker's website and updated monthly. You can choose between MetaTrader 4, MetaTrader 5 or the cTrader trading platform. As an IC Markets customer, you can use the following trading tools to learn how to trade forex and develop trading strategies:. In addition to low spreads and an excellent range of trading platforms for beginners, IC Markets is seen as a trusted broker around the world.

Overall, if keeping trading costs to a minimum is your key aim when currency and CFD trading, then IC Markets is the recommended broker for you. One of the best educational tools you can utilize as a beginner trader can use is demo accounts. Two different demo accounts are available at Forex. With real-time market conditions, demo users can practice trading forex and CFDs in the same environment as a live account. You can implement backtesting against historical data on both platforms, with over 80 forex pairs and metals available.

You can open one demo accounts per platform, meaning if you are unsure of which platform to try out, you can open a demo trading account on both the Forex. com proprietary trading platform and MT4. easyMarkets offers forex traders 4 unique risk management tools to reduce the risk of CFD and forex trading. Beginner forex traders can protect their trading account balances with three key easyMarkets risk management features:.

easyMarkets was the first forex broker to launch Deal Cancellation back in The tool allows you to cancel a trade within 60 minutes and get your money back should market prices move in an unfavorable direction. Most broker spreads are variable, this means you can experience slippage as prices can change during the execution of your trade.

It is the other way round when you go short sell on a currency pair. leverage offered is Sounds confusing? The Bid price is the highest price a forex trader is willing to pay to buy the base currency from the broker. Plus FSCA, FCA, ASIC, CySEC 0.

Categories:

• Forex Bitcoin
• Binary Options online
• Forex Brokers
• Binary Options
• Forex