Good Evening,

Today’s Article is for Beginner forex traders who are confused about which Forex Brokers to choose from. You can learn more on our beginners’ introductory forex course by filling out our online consultations here. Before we move ahead we would like to make all beginner traders aware that we are not affiliated to any brokers at all and we do not have any preference towards brokers.

BEGINNERS INTRODUCTORY COURSE

WHY IS SELECTING A FOREX BROKER CRITICAL TO A TRADER’S SUCCESS!

Platinum online trading Academy has been teaching individuals to learn to trade Forex, commodities and indices for over 8 years and some of our forex traders have been trading the financial and forex markets for over 17 years. Every Year we teach so many individuals from all walks of life on how to trade forex, so we get our reviews first hand from day traders about their respective forex Trading brokers and Trading Platforms. Trading with the right forex brokers is one of the most essential tools of a success for trading currencies.

Platinum has a 2-hour course special on what is forex and how you can make a part-time or secondary income within a matter of 30 days so what is stopping you except you. Signup below.

It is critical in the forex market to have a broker that you can rely on, this may be a certain resource or tool you require to trade without hesitation. There are different brokers which provide their own unique services to entice the investor in.

The Platinum team have researched and produced a guide for which brokers you should look at using in the market with a brief explanation of why.

BEST FOREX BROKERS FOR TRADING

This is an average overview of Platinum Traders for the year 2018.

IG – They are certainly a 5-star company offering the most security for clients. They are regulated by the financial conduct authority (FCA) and been involved in the financial markets for more than 40 years. The spreads on the foreign exchange markets are variable for pairs like Eur/USD but very low.

Saxo Bank – Saxo has a wide range of markets offering client versatility in their trading as well as multiple regulatory licenses to provide security.

Forex.com – They are a multi-national broker with their parent company gain capital and one of the largest brokers in the USA. They are regulated by the SEC

Dukascopy – They have a wide array of trading tools and a very good mobile platform to allow traders to trade on the go if they need too. The broker also allows access to a growing range of pairs to trade on.

eToro – This is a broker that allows the use of crowdsourcing to source trading ideas from a social network to copy other traders’ trades. They also allow you to trade and invest in cryptocurrencies, stocks, ETFs, currencies, indices and commodities.

CMC Markets – They specialise in trading currencies and would be well suited if that’s all you wanted to focus in on. They have a wide array of tools and charting software to make use of.

FX pro – If you like trading straight off the chart on MetaTrader then this broker ranks highly, they offer a very diverse range of pairs to trade with competitive spreads.

Interactive brokers – They have been around for 40 years and are based in over 20 countries. There are so many different types of markets they provide to trade on their platform.

CHOOSING THE RIGHT FOREX BROKER AND ITS IMPORTANCE:

Understanding Regulation: It is very important to understand the regulation in your country and how the laws apply. If you are in the UK, your broker must be FCA regulated. If you are unsure of this, visit the FCA register and search the broker company name. If you do open an account with a broker regulated by the FCA then you are also protected by the FSCS which is the financial services compensation scheme which covers, you for £50,000 in the event that the brokers have financial incapability’s.

Trading Tools and Platforms: Does your broker offer you charting software that is compatible with your operating system or a mobile smartphone.

The diversity of Markets offered: The broker should be offering you a diversity of markets and currency pairs to trade. You don’t want to feel limited in your options and also not to have too much choice either.

Spreads and commissions: This is important as this will be your expense when it comes to your trades, any profits you make are always after spreads and commissions are taken. Ensure you are getting competitive prices by shopping around first.

Customer Service: The quality of a good broker is always in the customer service if a broker doesn’t get back to you within a suitable period of time regarding an issue they are not the right broker to go for.

Order Types: and Execution: Some brokers when placing orders will give you excuses your trade didn’t trigger in at price due to slippage. Ensure you are not a victim of this by making sure to call and ask about this before you become a client with them.

Important Notes for beginner forex trader.

If you do not have the correct forex education or knowledge to trade the financial markets you will always have a high risk of losing money. We suggest opening a demo account to begin your currency trading journey to practice your trading strategies. CFDs are complex instruments to the untrained eye and without the correct forex trading courses risk of losses can be a hard way to learn. Also, Bear in mind that losing your money rapidly due to leverage is where 95% of retail investor accounts lose money when trading. A Golden Rule is never over leverage and risk no more than 0.5% of your account while trading.

At Platinum Lets us guide you on your Journey to Financial Freedom and teach you to make money when trading CFDs. If you are looking for a Job opportunity of a lifetime where you can earn a secondary income or looking to start a retirement plan, then speak to a senior trader today on a free consultation.

Hopefully, you have enjoyed today’s article. Thanks for reading!

Have a fantastic day!

Nisha Patel

Live from the Platinum Trading Floor.