The broker FxPro convinced us this time and deserves absolutely no questions asked the title of best forex broker 2016th Below we will present the winner and show you who has the second and third place in our test. You’ll also learn what constitutes the best forex broker for beginners at all.
The most important things of the best forex broker for beginners:
- A winner must meet a number of criteria in order to prevail against the competition
- FxPro is the best forex broker for beginners 2016
- AvaTrade took second place in our test
- Third-placed broker Admiral Markets
1.) What criteria is the most imortantf of the best forex broker for beginners?
A global recommendation for a particular broker is not effective, because beginners very different priorities than intermediate and professional traders. In order to be the best forex broker can pass for beginners, a trading firm should meet the following criteria mandatory:
- Full featured demo account (best live courses): With a demo account of beginners, the trading platforms of the broker to know and be familiar with all the functions in peace. Not every test account has the same level of services and functions, and so the entry should best a Forex demo account comparison realize to find the best deal.
- Reliable regulatory / deposit insurance: Anyone who wants to find out if a provider of Forex was trustworthy or is, should first look at the regulation and the rules on deposit insurance broker. If a regulatory authority exists, which operates according to the single EU financial market policy, it’s a good indication of the seriousness of a provider. Furthermore, the customer funds should be kept separate from the corporate capital and the broker should belong to at least the statutory deposit insurance of the country where the headquarters are located.
- Clear trading platform: Who is still inexperienced in the world of trading, will likely be hard pressed to be in a complex, tailored to professionals platform to find your way and so the best forex should broker for beginners are a clear, straightforward platform that beginners a smooth entry permits.
- Technically qualified Customer Service: Especially inexperienced traders are in entering the trade have some questions that can not answer them, the FAQ section of the broker. So a good broker should provide qualified support and provide well-trained staff, who are also German, at best.
- Good range of training: The broker who has the potential to become the best broker of the year, should make its customers to enter the world of Forex trading especially uncomplicated and provide them with a versatile range of education and knowledge offers. These webinars can include, tutorial, or journal article about trading.
Conclusion: A broker with potential best forex broker for beginners should show some features in order to ensure customer satisfaction and to differentiate themselves from the competition.These include a good demo account, a clear trading platform, a good customer support and a wide range of training courses.
2.) Our test winner: FxPro as Best Forex Broker
As already mentioned, directed traders who are just getting started in trading Forex, pay attention to others, where the broker choice than professional investors. The company FxPro meets all the requirements, the need to bring a good forex broker for beginners. A very important criterion in this case represents a demo account that is inexperienced traders in advance to become familiar with the trade and the trading platform. In FxPro clients have a free demo account for the MT4, the MT5 and cTrader available. The demo account can be used with up to 500,000 Euro play money. Particularly striking, however, are the facts that the test accounts are available for an unlimited period and the balance can be recharged as often as traders wish. Regarding the range of trading platforms, the broker also has a lot to offer.The ever-popular MetaTrader 4 is available as well as his successor MetaTrader 5. In addition, there are at FxPro nor the ECN trading platform cTrader, which was designed specifically for trading CFDs. For a video tutorial to help traders going to get around with the functions of the cTrader. At this point we want good education offer of Brokers of course not fail to mention.The company offers regularly scheduled webinars and seminars on online trading. A trading glossary explains the most important terms of Forex trading and a special FxPro Blog informed about current market events. A good customer support is just for beginners the nuts and bolts. These have to start certainly a lot of questions and want good advice and support feel.On this point, FxPro is absolutely convincing. To meet all customers’ needs, the broker has set up a multilingual customer service. This can be five days around the clock reaches the week by phone. In addition, a live chat is available and investors can make use of a callback function.About the seriousness of the company, traders need not worry.FxPro is regulated by the Financial Services Authority Financial Conduct Authority. Client funds are kept separate from the funds of the company.
Conclusion: The Provider FxPro is not in vain Broker 2016 to the title as the best Forex claim for themselves. The broker meets all the criteria that are just for beginners of particular importance. In addition to unlimited use and free trial account, a reputable regulatory and professional trading platforms, FxPro may especially with a competent and multilingual customer service and his training program points.
3.) AvaTrade as a broker
FxPro is one of the best, but not the only source for beginners in Forex and CFD trading. Also the Irish market maker AvaTrade speaks with low minimum deposits, Irish regulation, high new customer bonuses and a very ambitious training and training opportunities specifically (but not exclusively) Beginners on to the relevant selling points of the broker are as follows:
- Trading on MT-4
- either fixed or variable spreads
- very low minimum deposit (100 Euro)
- New customer bonuses to 100% on first deposit
- Know-How: eBooks. Webinare, Videokurse
AvaTrade is an alternative especially for traders with affinity for automated trading. MT-4 allows the import of finished scripts and developing their own trading systems and indicators and their performance testing using historical data.
Conclusion: Second place in our Broker Test is AvaTrade. The Irish broker convinces with a low minimum deposit, the trading platform as well as a comprehensive training and knowledge available.
4.) Admiral Markets ranked third
Even the Estonian Forex and CFD Broker Admiral Markets is worth a look for beginners. The broker offers several trading platforms and account models and allows, among other things, a combination of 10 Euro minimum deposit and 1 pip (usual) Spread. Traders have, among other things access to the MetaTrader 4 and the choice between a market maker market model and STP / ECN trading,
Relevant listing features are:
- Three different models account
- MetaTrader 4 trading platform available
- Free MetaTrader 4 extension available
- Market Maker and STP / ECN possible
- Extensive training and learning opportunities
- Very low minimum deposit 200 Euro
Traders should note that the regulatory environment in Estonia as well as the local national deposit insurance, however, despite EU and euro membership does not compare with the standards in Germany and the UK.
Conclusion: As the third-placed broker in our test Admiral Markets has a lot to offer. So customers have, for example, a choice of three models account and the minimum deposit is 200 euros. With Admiral Markets MT4 trading is also possible and there is even a free extension for commercial application. The learning and training program can be seen at Admiral Markets also.