Author Archive Best Forex Brokerz
The Best Forex Brokers for Beginners
The Best Forex Brokers for Beginners are the forex brokers who are suitable for newbies in forex trading since they have unique features makes starting forex trading with them easier than other brokers.
How to Select The Best Forex Brokers for Beginners:
There are some factors which will help you decide which forex broker as the best for you as a beginner including:
The regulation of the best forex brokers for beginners:
Trusted forex brokers are regulated by an authority which monitors them and regulated their abidance of the financial norms. In Australia, we always recommend ASIC regulated forex brokers since ASIC is the only authorised organisation to regulate forex and online trading brokers. Other regulations which you might also consider include NFA and CTFC from the USA, FCA from the Uk.
The spreads and commissions in the best forex brokers for beginners:
For beginners in forex trading, it is crucial to find a low fee broker since you are just starting trading and you do not want to lose much money for forex brokers. We always recommend low commissions and tight spreads forex brokers.
The min deposit in the best forex brokers for beginners:
With some forex brokers, you can start from $5 such as XM. Some other brokers need more to start online trading, for instance, with Pepperstone you will need $200 to start online trading, with ThinkMarkets you will need $250 to open an online trading account. What is best trading account for beginners? It is recommended to start with a mini trading account or with $200-$400 capital.
The trading platforms in the best forex brokers for beginners:
Although most of the online trading platforms are similar, it is convenient to make sure your broker has the best forex trading platform for beginners. I would recommend MetaTrader 4 or MetaTrader 5 as the best forex trading platforms for beginners for some reasons including they are user-friendly so they are easy to use and the other thing there are many online tutorials which might help you learn using them efficiently.
The customer’s support of the best forex brokers for beginners:
It is important to have a supportive customer care who can help forex trading beginners to start trading since forex trading needs long-term support.
The forex learning in the best forex brokers for beginners:
Some forex brokers offer online tutorials for forex beginners which can help them to understand many of the technical terms in forex and teach them how trade using the online trading platforms.
Forex glossary for forex beginners:
Spread the difference between the selling and buying prices.
Pips: the smallest decimal change in an asset price quote.
Lot: trading volume unit. One standard lot = 100k pips.
Trading platform: the computer/mobile software which you will be using for online trading.
Short/Long positions: short is a selling position, and long is a buying position.
Levarge/Margin: leverage is the gain which amplifies your capital. Example, your capital is $200 with leverage 100:1 you can open position with $20k. The margin is the min amount of money required to open a position. It is 1/levearge. For our example the leverage was 1:100 so the margin is 1%. Leverage is double-edged sword which can increase your profit and at the same time increase your loss, so choose your leverage wisely. The best forex leverage for beginners should not exceed 1:10.
If you have any question please leave your comments below.
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ThinkMarkets Broker Review and Details
ThinkMarkets broker is one of the top forex brokers in Australia. ThinkMarkets Broker is ASIC regulated broker and ECN forex broker. In addition, it is regulated in the UK by FCA.
ThinkMarkets broker regulations:
- In Australia: TF Global Markets Pty Ltd, ABN: 69158361561, ASIC regulation #: AFSL 424700.
- In the UK: TF Global Markets limited, Company number: 09042646, FCA regulation #: FRN 629628.
ThinkMarkets forex broker can be considered as one of the most trusted forex brokers in Australia since it is ASIC regulated and legally registred in Australia. Also, it is regulated and registered in the UK.
ThinkMarkets broker accounts types:
- Standard account: starts from $250, lot size = 100,000 pips, min trading volume =0.01 standard lot, max leverage 400:1, spread starts from 0.4 pips on Forex, 0.9 pips on CFDs, $0.25 on the metals trading.
- Pro account: starts from $2000, lot size = 100,000 pips, min trading volume =0.01 standard lot, max leverage 400:1, spread starts from 0.1 pips on Forex, 0.9 pips on CFDs, $0.25 on the metals trading and commission of 2.5 units per side.
- VIP account: tarts from $25,000, lot size = 100,000 pips, min trading volume =0.1 standard lot, max leverage 400:1, spread starts from 0.1 pips on Forex, 0.9 pips on CFDs, $0.25 on the metals trading and negotiable commissions.
- Swap-free trading accounts.
ThinkMarkets broker trading platforms:
ThinkMarkets forex broker offers:
- Trade Interceptor available only for standard accounts.
- MetaTrader 4: available for all the trading accounts.
These trading platforms are two of the best forex trading platforms in Australia
ThinkMarkets broker trading options:
ThinkMarkets forex broker offers to trade in:
- Forex majors and minors.
- Global indices.
- Commodities.
- Metals including Gold, Silver and Copper.
- Cryptocurrency including Bitcoin, Ethereum, Ripple and Litecoin.
ThinkMarkets broker payment methods:
ThinkMarkets forex broker supports the following payment methods:
- Bank wire transfer.
- PayPal.
- Credit/Debit cards.
- Skrill.
- Neteller.
- BPAY.
ThinkMarkets broker customers support:
ThinkMarkets forex broker has 24hours and 5 days customer support for the online traders.
Why to choose ThinkMarkets forex broker?
- Trusted forex broker.
- ECN forex broker.
- Allows hedging, scalping and Expert Advisors (EA).
- Low spreads.
- Accounts start from only $250.
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XM Broker Details, Review, and Rating
XM broker is one of the best forex brokers for beginners since it offers $30 bonus for trading and trading accounts starts from $5. Also, XM is ASIC regulated forex broker and offers low spread accounts.
XM broker details:
Founded in 2009 in Cyprus. Regulated in Cyprus by CySec and :
- In Australia: Trading Point of Financial Instruments Pty Limited, ACN 164 367 113 and ASIC regulation AFSL 443670.
- In England and Wales: Trading Point of Financial Instruments UK Limited, registration # 09436004, FCA regulation # 705428.
Based on the regulation in ASIC Australia and FCA in the UK, XM is one of the trusted forex brokers in Australia.
XM broker accounts types and commissions:
XM offers different types of trading accounts including:
- Micro accounts: 1 lot =1000 pips, leverage up to 1:500, spread starts from 1 pip, and the minimum deposit is $5.
- Standard accounts: 1 lot =100,000 pips, leverage up to 1:500, spread starts from 1 pip, and the minimum deposit is $5.
- XM Zero accounts: 1 lot =100,000 pips, leverage up to 1:500, zero spread but there is $6 commission per standard lot (100,000 pips) and the minimum deposit is $100.
XM broker trading platforms:
XM offers several trading platforms including:
- MetaTrader 4: the most popular forex trading platform.
- MetaTrader 5: the new generation of MT software which made to expand the online trading to the stocks (shares) markets which is not possible using MT4.
- MetaTrader 4/5 web trader: a web-based trading platform for online trading without download and setup on the computer.
These trading platforms are from the best forex trading platforms in Australia
XM broker trading choices:
XM offers to trade in different types of assets containing:
- Forex trading.
- Stocks Trading.
- Commodities trading.
- Equity indices.
- Precious metals.
- Energy sources trading.
- Cryptocurrency trading.
XM broker technical support:
XM provides 24/5 technical support through live chat, phone and email.
Why XM is the best forex broker for beginners:
- Free $30 bonus for trading.
- You can start with a small capital ($5).
- Low spread.
- Safe forex broker.
- It allows hedging.
- It allows scalping.
- It allows EA.
- No fees for deposit or withdrawal and no withdrawal problem.
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Best Trusted Forex Broker in Australia
Why best trusted forex broker in Australia?
- For the safety of your investment, you have to select a trusted forex broker.
- To avoid thinking whether you are with the right forex broker or not.
- To ensure your forex broker is rehttps://www.bestforexbrokerz.com.au/forex/best-trusted-forex-broker-australia/gulated to conduct financial activities in Australia.
- To get the maximum benefit of your forex trading.
How to find the best trusted forex broker in Australia:
There are some clear bases which you should look on before deciding which forex broker you will go with:
The regulation of best trusted forex broker :
Forex regulation is the most important selection factor of the forex broker. You should never invest with any unregulated forex broker since you might end up loosing all your money and nobody can help you. In Australia, we prefer ASIC regulated forex brokers since ASIC is the official Australian organisation which is responsible for ensuring the compliance of any forex broker with the Australian laws. Other regulatory also including the NFA and CTFC regulations from the USA, The FCA regulation from the UK, are also considered to be strong and efficient regulations.
The spread and the commissions of the best trusted forex broker in Australia:
The spread is the difference between the selling and buying price of an asset. Forex brokers usually take a small spread like 1-3 pips (the least price decimal change). Some other brokers take a fixed commissions per trading volume, usually per standard lot (100,000 pips). Always select the broker with the lowest spread or commissions.
The trading platform of the best trusted forex broker in Australia:
Appearntly all the trading platforms looks similar since they are built using the same company called MetaQoutes, who made MetaTrader software including MetaTrader 4 ( MT4 ) and MetaTrader 5 (MT4). However, trading platform is the main connection hub between you as forex trader and the forex market so by considering the speed of orders execution, the grpahical and analytical tools and the support of Expert Advisors (EA), you should be able to determine which forex trading platform is the best.
The trading options which offered by the best trusted forex broker in Australia:
There are huge variations among the forex brokers in terms of the avaibale trading instruments. Some forex brokers offer currency trading, precious metals trading, energy trading , stocks and shares trading, and cryptocurrency trading. It depends on what you are planning to trade in. Sometimes too many options is overwhelming and useless. So you have carefully check whether the broker which you are planning to open forex account with it offers the assets which you are planning to trade it with low spread or not.
The technical support of the best trusted forex broker in Australia:
Skilled and responsive technical support is one of the great features of the best forex broker. Check whther the forx broker provieds support for at least 24 hours every day and at least 5 days every week when the forex market is open.
What do you think other things which might affect your choice of the best trusted forex broker ?
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Pepperstone Forex Broker Review
Pepperstone Forex Broker is one of the safest forex brokers in Australia. Pepperstone is ASIC regulated forex broker. This review is dedicated to explaining the details of Pepperstone advantages and disadvantages fully.
Pepperstone Forex Broker Details:
Company name: Pepperstone Group Limited (Australia) and Pepperstone Limited ( England and Wales).
Address: Level 5, 530 Collins Street, Melbourne VIC, 3000, AUSTRALIA and the UK office address: 107 Cheapside, London EC2V 6DN, United Kingdom.
Registration: Registered in Australia (under ACN 147 055 703) and registered in England and Wales (under Company Number 08965105).
Regulation: regulated by ASIC (AFSL 414530) in Australia and regulated by FCA (Registration Number 684312) in England and Wales.
Based on the registration and regulation, we can consider Pepperstone as one of the safest forex brokers in Australia.
The Spreads and commissions in Pepperstone Forex Broker :
- Pepperstone has a variable spread in MetaTrader 4 platform. For example, it starts from 0 on EUR/USD with average 0.2 pips.
- For MetaTrader 4 Razor accounts, Pepperstone takes a commission of 3.5 AUD per lot ( 100,000 units of the base currency).
- For cTrader Razor accounts, Pepperstones charges seven units of the base currency for each lot ( 100,000 units of the base currency).
- Swap either will be paid or taken as an interest for holding trading positions open overnight. There are swap free accounts also available accounts in Pepperstone.
The trading accounts types in Pepperstone Forex Broker:
- Edge standard account: STP processing, Spread starts from 1.0 pips, MT4/ cTrader platforms.
- Edge Razor account: STP processing, spread average on EUR/USD 0.0 – 0.8 pips, commission 3.5 AUD per 1 standard lot (100,000 units of base currency), MT4/ cTrader platforms.
- Edge Swap-free (Islamic account) account: STP processing, spread average on EUR/USD 1 – 1.2 pips, admin charges for holding positions for more than two days, MT4/ cTrader platforms.
- Edge Active traders account is customized account for large-high-volume trading or institutional trading.
The maximum leverage in these accounts is 500:1.
The trading platforms in Pepperstone Forex Broker:
Pepperstone offers MetaTrader 4 and cTrader platforms. These platforms are very similar in their functions; however, they are developed by different programming languages and developers. In short, MetaTrader 4 is more popular and more suitable for the traders who like Expert Advisors (EA) while cTradr is more customisable and offers better orders options. Also, cTrader can be installed on Windows and mobiles only while MT4 can be installed on windows and mac and mobiles.
These platforms are two of the best forex trading platforms in Australia
The customer support in Pepperstone Forex Broker:
Pepperstone support is award-winning professional support operating 24 hours a day through phone, email, and live chat.
Accounts funding methods and withdrawals in Pepperstone Forex Broker:
- The account can be funded using credit/debit cards, Paypal, wire transfers, Skrill, Bpay and others.
- Withdrawal will take 3-5 days to arrive at the bank account. Credit card withdrawals also available and other options.
Other features of Pepperstone Forex Broker:
- Allow Scalping.
- Allow Hedging.
- Allows Expert Advisor (EA).
- CAlgo: C# language tool to develop algorithms for cTrader.
- Edge technology: allows traders to direct interbank trade via MT4 with high orders execution speed, Pepperstone Price Improvement (PPI) for better orders price selection, tight spreads.
- 70+ tradable assets.
- Market depth view.
- Dark Pool Liquidity to execute high volume and mass orders with high efficiency.
Forex Glossary:
- Spread: the difference between the seel and buy price of an asset.
- Straight Through Processing (STP): a model of orders execution which connect the trader directly with the liquidity providers. Sometimes it is called No Dealing Desk trading.
- Scalping: making small profits from opening and closing significant positions in narrow ranges.
- Hedging: open a reverse order with the same size to the current losing one to avoid more losses.
- Expert Advisors (EA): codes can be implemented into MT4 to make automatic trading based on the trading parameters.
- Leverage: the factor which amplifies your capital. Forex example 500:1 leverage for $1000 capital will be $500k.
Open Account now in Pepperstone
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