Which account should be preferred for a forex beginner?

[nahiyar]

Yes it is very common mistake because standard accounts are also started with reasonable amount as $200 or $250. All think it is affordable amount to invest but they do not know the reality that dealing in standard accounts is not with low risk .Lots and margins are not counted as they are easy in cent account. It will good to start with cent accounts to get practice of live trading.

 

[Morning1234]

I think a newbie needs a demo account. Then you can gradually get used to trading real money on a cent account.

 

[Gateluri]

Totally agree that you need to open demo account first after that you can try with reasonable amount as $100 or $500. (If you lose it , you have few emotion but not impact much to your life.) Practice and practice a trading strategy before move to complex strategy.

 

[Rakovski]

Beginner needs a nice tutor with ability to provide some money for account for studying his trainee. This is the best option.

 

[Richard Persa]

Totally agree that you need to open demo account first after that you can try with reasonable amount as $100 or $500. (If you lose it , you have few emotion but not impact much to your life.) Practice and practice a trading strategy before move to complex strategy.

The most important factor in this way is do not hurry up to trade a big money. Beginers often have a problem with patience and start trade a huge summ before getting some experience. It happens because of absence of real profit on demo (you try to do your best but what you get is oly experience and begginers do't understand that this experience is much worthy than money profit)

 

[pashaev]

Beginner needs a nice tutor with ability to provide some money for account for studying his trainee. This is the best option.

Losing someone else's money is not the same as losing your money.
Need to learn trade on own money.

 

[Richard Persa]

Losing someone else's money is not the same as losing your money.
Need to learn trade on own money.

Trade on own money is the second step. Firstly, trader should learn he basic principles of forex market. It will be easier with an experienced tutor. One question for you: can you ride a horse? If you don't, so try it without a teacher and you will see

 

[Quinuiacl12]

I think that it is all individual. Considering that you are beginner, I would suggest to use micro account with minimum deposit. You can always upgrade your account when you feel confident enough that you are ready for larger trading amounts as well as leverage

 

[Notati]

Start with demo account and after that open a cent account with your broker. Your first real trade should be minimal possible investment of money. During time you will find the right account and amount to trade for you

 

[kingsman]

The demo thing is just for understanding things. The real question arise about the trade account that beginners should use in real trading. Personally I started with a standard account but I was not aware of cents account at that time. So I would recommend any beginner to start trading live on cent or micro accounts.