Which account should be preferred for a forex beginner?

[bigdolly]

Demo is best ? Really !
Well how you will make money in demo account? You cannot make money in demo account so it cannot be the best account type for anyone. It can be a good to start thing for newbies but not best.

You can join to demo trading contests for an opportunity to win real accounts with deposit (like from some brokers) or use welcome accounts with no-deposit bonus which also allows making money risk free.

 

[holycow]

A new trader should only focus on trading demo accounts for it is the biggest asset for any successful trader. These demo accounts should be traded like live ones and atleast new traders should not move to live for a minimum of six months demo trading.

 

[audrey collins]

I understand that when first entering into forex you'll have a lot of questions and doubts about what kind of account you should start trading with. As a beginner and even after that, I cannot stress enough how important demo account is for testing your strategies. For real/live trading experience I would suggest a micro trading account for you. You can invest just a little amount, as small as $100 without any fears of losing large sums of money till you gain more confidence to move onto other types of accounts like, standard, ecn, etc. All the best!

 

[CryptoatForex]

PIck a good broker(I use REMOVED)
Then demo mode and STUDY STUDY STUDY

Recommending a broker in General Forex Talk is a fast way to meet Spam Cat. You do not want to meet Spam Cat.

 

[Rayford Adam]

So @AlecR according to you which trading account is best for beginners

 

[alexmarian]

Demo account indeed should be the first choice of a beginner because it gives us a basic idea about Forex trading. We should keep in mind that Forex trading is highly risky and involves real investment so trading should be done with calculated risk otherwise we may lose all our investment.

 

[Rayford Adam]

Yes @alexmarian you are right, according to me for beginners demo account is the best choice

 

[Kokodrilius1]

Prompt: I understand correctly that it is preferable to open an account with a broker operating under a license involving a-book?

 

[Whitesnake]

A forex beginner should start with the amount of money which they can afford to lose. Because it is very much certain that there are high chances of losing money when we initially trade in the forex market.

 

[Kokodrilius1]

+1 fully agree!