Cost of trading: Check the
broker’s site for details of commissions and spreads. They may vary depending on the
type of brokerage account that you have. Some brokers mention zero commission and then
make money with wide spreads. On the other hand, you can trade with brokers that offer
tight spreads, even as low as 0.0 pips. Consider contacting the broker to enquire about
other costs.
Trading platform: MetaTrader 4 is by far
the most popular platform used by forex traders. MT4 offers a number of helpful
features, like easy-to-understand navigation, customisable interface, one-click trading
of different financial instruments, real-time price streaming even on the demo account,
secure trading with 128-bit encryption, Expert Advisors (EAs) for automated trading and
customisable alerts. The MT4 platform is compatible with iOS, Android, Windows, and Mac,
offering you the flexibility of trading at your convenience, even while you’re on the
go. Choose a broker that offers popular trading platforms.
Research and education: A
beginner needs to spend time learning the dynamics of the market and various aspects of
trading. Some brokers understand this need and have invested in creating comprehensive
trading education resources for beginners. This online library of resources could
include ebooks, video
tutorials, FAQs, glossary, newsletters, guides, and articles.
Trading accounts: Check out the
value trading
accounts details of minimum opening balance, spread, instruments,
maximum leverage. minimum trade size, commission and more. Some traders also offer Islamic trading
accounts.