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The Perfect Brokers For Beginners

The forex market is the biggest trading platform in the world that is popular among businessmen to generate income at the side. Although it is a platform for only businessmen who have experience with trading, almost anyone can trade online thanks to the internet. Most beginner traders are able to find educational materials on the internet and can be self-taught. In order to be eligible to trade, traders must apply for a license with a forex broker. These brokers help their traders to provide a safe platform to withdraw having to worry about where their money is going. There are many trading forex broker vietnam that forex traders can invest into whenever they want to start their trader career. However, every broker has a different specialization that caters toward certain traders’ style.

If you are looking to start your trading career right off the bat, then FXTM can offer almost everything for you to learn about how to trade in the forex market. With a low minimum deposit of USD 10, traders can easily start trading right after they create an account. FXTM provides plenty of educational materials for beginner traders to learn more about trading in the market. Additionally, they are able to create a demo account to familiarize themselves with the market and build up confidence and experience before investing into a live account. One of the few downsides is it inflicts a fee onto their traders whenever they want to make a withdrawal or when they remain inactive after a certain amount of days. It also has limited product portfolios which certain asset classes are missing in this platform. 

Alternatively, eToro provides one of the best learning experiences for beginners as it specializes in copy trading, which involves copying the trade activity of an active account. Through copy trading, traders will be able to analyze the purchase and sales being made by their “masters” to learn more about their decisions made. Additionally, the masters will receive commission based on how many ‘followers” he or she has. One of the few major downsides of eToro is the ability to not use trading softwares like MT 4 and 5 which makes observing the market more difficult. Then, beginner traders who are not familiar with trading will have a difficult time to decide which accounts to follow as following the wrong account can cause them to lose all of their capitals in a single day.  

Overall, there are many forex brokers that you can choose other than the ones mentioned in this article as they all have their own unique specialization and services that might suit your trading style. If you are determined to become a trader in the long run, make sure you have money to spare as the forex market is known for its volatility and anything can change the market that may cause you to lose all of your capitals.

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