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Choosing Best Forex Broker for Beginner

Forex is a word that stands for foreign exchange. The Forex trading specifically refers to the activity of currency trade. The currency trade has practiced for many centuries but the nowadays practice is massive. In fact, forex trading is the biggest trading currency platform in the world.

In forex trading, it is a well-known knowledge that the risk for trading is high but the reward can be even higher. However, it is important to not start trading just because you want the high reward in a short time because that is not how forex trading supposed to. If you want to start forex trading but still not sure which platform to choose, here are some categories to consider when choosing the best forex broker for beginner.

Lowest minimum deposit

Starting forex trading at beginner level means that there are lots of things to learn especially the possible risk you will encounter in every move. When choosing a trading platform for a beginner, it is better to choose the one with the lowest minimum deposit. Forex trading platforms, in general, are classified based on the deposit amount from the highest, middle, and lowest amount. One forex trader platform with the lowest minimum deposit is FBS which allows traders to join with a minimum deposit of US$1. FBS has been around since 2009 with offices in Russia, China, Indonesia, Malaysia, Egypt, Korea, Thailand, and Jordan.

License

When choosing a broker platform especially for a beginner, make sure that you look for the one with a legal license. Choosing a licensed broker is the only way you to protect your rights. This should be the first consideration for choosing a broker platform before looking for other features. Also important to note that different country has different regulation related to licensing forex broker. That is why it is crucial to choose a broker according to your domicile place.

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Types trading platform

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As forex trading gains more and more popularity, there are numerous trading platforms emerge. There are web-based and downloadable trading platforms as well as a mobile-based trading platform for more convenient trading. In reverse, some mobile-supported trading platforms also provide a web-based version.

Demo trading accounts

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Forex trading is a serious thing, meaning that when you make the wrong move, you can possibly lose your money as well. Checking a demo trading accounts before committing serious time and money can never go wrong. The demo trading allows you to see how the trading works on the platform and you can also familiarize yourself with the platform.

Easy deposit/withdrawal methods