Forex trading really sprung out on the scene quickly, and as it’s popularity grew, new traders were coming from every corner of the world to start trading, and soon more and more brokers started to pop up online, and today private Forex trading is one of the world’s largest markets. With so many new people still finding out about forex trading and looking for places to trade, the competition between the different forex brokers have become extreme, so the ball’s in your court when it comes to saving money!
In my opinion, you shouln’t always just go for the broker offering the best deposit bonus, when it comes to forex trading. Just like with your trading, your choice of broker should be a long term investment, and therefore you shouldn’t be solely focused on the bonus that they offer. You will need to take into account the assets available, the security as well as the spreads and leverage, and these are just a few things of what’s important to look up when you are choosing your broker. As someone who has been into forex trading for over five years, I’d like to share with you some tips about my favorite forex brokers. To start it off, i’d like to say that these two brokers I didn’t choose necessarily because they had a fantastic starting bonus, but rather because they had a great reputation in the industry and that many of my friends had vouched for them.
The first, and most obvious one, is eToro. Etoro has quickly managed to establish themselves as market leaders in the forex industry, and they have come up with a totally unique concept when it comes to their website. They have put a lot of focus on a community that let’s traders from all over the world connect with one another. This is something that I massively appreciated when I first started out, as I didn’t really know that many traders. It also lets you see what type of investments other traders have done recently, so that you can easily get good tips for where to place your money. If I was new to forex trading, I would start here. You can read a review of eToro at forextrading.pm!
The second website I would like to recommend is Plus500. Plus500 is a British CFD service that I like particularly because they offer all new traders a free demo account. This is extremely useful when you are new to trading as you can start practicing using their trading platform, but you are only investing with virtual money, as a way to measure you skill, if you will. Later on, when you feel that you are ready, you can then make a deposit and start trading for real!