The best Forex brokers for beginners are those that are easy to use, have low spreads and offer courses or guidance to help you build your trading skills. The best Forex brokers in the world are all going to be easy to use and offer trading platforms that can be accessed from a variety of devices and will allow you to trade with ease.

The forex brokers have been rated and reviewed by experts to help you find the best forex brokers for beginners. The list of the best forex brokers for beginners from Traders Union contains a variety of online forex brokers. In this article, we will discuss the top forex brokers for beginners according to Trader Union.

Top Forex Brokers for Beginners

The list below presents the most popular Forex brokers among beginner traders based on an analysis of key indicators of performance. The top rankings are determined by a number of factors, including the diversity of trading instruments available, reliability, customer support, and the overall quality of service provided.

1.         Admiral Markets UK

2.         XM Broker

3.         FXCM

4.         FXTM

5.         FxPro

6.         AVATrade

7.         InstaForex

8.         Tickmill

9.         Roboforex

10.       IC Markets

With years of experience in the financial industry, Trader Union has put together a list of the best forex brokers for beginners. This list includes the top Forex Brokers that are reputable, reliable, and secure for beginners. The only thing you need to do is to choose the one that suits your trading needs and requirements.

Exness Trading Company

Exness is a broker with a long history of providing traders with quality service. The broker’s key to success is the combination of reliable services and competitive trading conditions, which have made Exness one of the most popular trading platforms in the industry. In order to provide traders with a wide range of products and services, Exness has partnered with companies that are recognized leaders in their fields: MetaTrader 4, cTrader (City Index), SpotOption (CMC Markets), and Pepperstone.

The broker offers its traders an opportunity to trade on over 300 currency pairs, commodities, and CFDs on shares and indices. The platform can be accessed via web-based applications or mobile devices which support iOS, Android, or Windows operating systems. For further information, check out the exness review on the Traders Union website.

Exness has been working on the global financial markets since 2008. After establishing its reputation by offering clients a quality service, Exness started to expand its offer by providing clients with more advanced financial instruments as well as access to more trading platforms. In addition to MetaTrader 4, Exness offers its users MetaTrader 5, Mobile platform, and MultiTrerminal.

Is it a Good choice for the Beginners?

Exness is a broker suitable for both beginners and experienced traders. The broker has a low minimum deposit and offers a wide range of tradable instruments. The company’s reputation is also enhanced by its attractive bonus policy, good customer support, and the ability to trade on mobile devices.

The broker cooperates with Exness Ltd., located in the Republic of Seychelles, which provides technical maintenance and support for the platform. The company offers spreads from 0.6 pips on major currency pairs. This figure is higher than at other brokers but this is due to the fact that Exness offers its clients an opportunity to trade on margin.

The minimum deposit required at Exness is $200, which is way lower than at most Forex brokers. Exness Trade mobile app works with iOS 6.0 or later versions of Apple devices (iPad, iPhone, etc.). The app can be downloaded directly from Apple Store. The Android version of the Exness App can be downloaded from Google Play Store.

Replenishment & Withdrawal

Exness Trade accepts payments via credit cards: Visa, MasterCard, Internal money transfer; via e-wallets: Perfect Money, WebMoney, Skrill, Yandex Money; Other transfer: Bitcoin and Tether.

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Opening a Brokerage Account

The first step to trading options is to open an account at a brokerage firm.

Brokerage firms will determine if you are allowed to trade options based on your trading experience, your understanding of the risks, and your net worth.

Depending on your answers, you might only be allowed to buy call and put options, which is fine for you to get started in options trading.

Choosing the Options

The first question most have is how much money do you need to trade options. The cost of options will depend on factors like the expiration date, strike price and volatility. The further away the expiration date is, the more the option will cost because you are also paying for the time value. The closer to the strike price the option is, or if it is in the money (at a profit), the more expensive the option will cost.

The cost of an option is the option cost multiplied by 100 because one option controls 100 shares of the underlying stock or index. If you find an option that costs $1.75, the cost of that option contract will be $175. According to the experts at Money Morning, “And don’t forget, with such a low up-front cost, your risk is also just a fraction of the stock’s risk.”

There are many strategies with option trading, but basically, you will buy a call option if you think the stock price is going higher. And you will buy a put option if you believe the stock price is going lower.

The variables of options are intrinsic value and time value. Intrinsic value is the difference between the strike price and the share price. Time value is the time left to expiration. Volatility is another component to consider.

Determine the Strike Price

The strike price is the price you predict the stock will move to at or before the expiration date. To profit, the stock price has to be at or above the strike price for call options and at or lower than the strike price for put options.

For example, XYZ Corporation is trading at $10, and you believe it will move up to $15 at a future date. You could buy a call option with a strike price of less than $15, like a $14 strike price. If the stock ends up at $15 or higher at or before expiration, your option will be in the money, and you make a profit. If you believe the stock will drop in price, you will buy a put option.

Determine the Time Frame

You also have to accurately predict that the stock price will make this price move by the expiration date or before. Expiration dates range from days to years. The longer away from the expiration date, the more expensive the option will be, this is the time value.

Most options are what are called American options, which means you can sell your options at any time before the expiration date.

There are many strategies with options trading. For beginners, it is sometimes wise to practice trading before risking actual money.

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Cryptocurrencies are a topic for specialists

This is perhaps the most important reason why people outside the cryptocurrency community feel reluctant and fearful about the topic. The old truth is that people are afraid of what they don’t know. The same anxiety accompanies children who are about to get on a bicycle for the first time. Likewise, people feared the introduction of ordinary coins first, and then electronic payments. Today, making transfers via the Internet and paying with a credit or debit card is common, although a dozen or so years ago it seemed impossible. It is similar with cryptocurrencies. You don’t have to be an IT genius to learn about virtual coins. All you need is interest and practice.

Big organizations are against cryptocurrencies

It is a myth that can be debunked very easily – if cryptocurrencies were not supported, the entire system would have collapsed long ago. It is true, however, that state institutions are afraid of the dissemination of virtual money, because this could threaten the current financial system, and thus, offices would lose their power over money. A distributed network allows the entire community to control cryptocurrencies.

However, over time, this approach also began to change. This can be confirmed by the fact that PayPal has introduced the option to buy, store and sell assets through their system. In the US, you can already pay with virtual money for passport services, and the Central Bank of the Bahamas has created a cryptographic version of the Bahamian dollar.

Cryptocurrencies are completely anonymous

This belief arose from the fact that no personal information is required to perform transactions with cryptocurrencies. While there are coins like Monero, which are called “the most anonymous cryptocurrency”, in fact, transactions involve transferring funds from one public address to another. This means that you can easily check the recipient and sender details as well as transaction details.

Cryptocurrencies are money from the criminal world

This is coupled with the belief that cryptocurrency transactions are anonymous and untraceable. According to research, criminals most often use US dollars in cash. Cryptocurrencies are not common enough to be an easier means of financing than cash or electronic money.

Organizations are responsible for cryptocurrencies

On the contrary. Cryptocurrencies are designed to decentralize the network, which means that the system is controlled and operated by independent entities from around the world. Each user can mine new blocks. No complicated equipment is needed for this. In addition, most cryptocurrencies are created on an open source system – anyone interested can freely research, modify and distribute it.

Bitcoin and blockchain are the same

These terms are usually confused by people who are just starting their adventure with cryptocurrencies. In fact, the blockchain technology has been included in the so-called The whitepaper of the Bitcoin project, however, the technology has spread over time and is being developed by subsequent creators. Currently, most types of cryptocurrencies are based on blockchain. This project is also used in many places not related to virtual money.

These are just some of the most common myths around cryptocurrency. They usually result from ignorance. Unfortunately, they are harmful because they effectively discourage new people from the topic, thus inhibiting its development.

The article was developed in cooperation with the gielda-kryptowaluty.pl portal where you will find all the necessary information for both beginners and more advanced people in the world of cryptocurrencies.

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Bitcoin and the global pandemic

Bitcoin (BTC) is a cryptocurrency that was created in 2008 as a response to the economic crisis, and the consistently rising prices clearly show that the cryptocurrency market, despite the unfavorable economic situation, is still doing its job.

Cryptocurrency exchanges are independent of the government and central banks, which seems to ensure stability and security, which is why many people give up bank deposits looking for alternative solutions. Buying cryptocurrencies seems to be the safest option – the dynamics of price increases is as good as the lack of control over the virtual money market.

If you are interested in buying Bitcoin for USD, Euro or GBP and you want to learn more about it, we encourage you to read the article:
bitcoin-exchange.uk/buying-bitcoin

The increase in Bitcoin’s value is certainly also due to the spring halving, for which the prize was reduced from 12.5 BTC to 6.5 BTC. By slowing down the speed of creation of coins, fewer coins enter the market, which translates into limited availability of the currency, and the lower the availability of Bitcoin, the greater its value.

Why is it worth investing in cryptocurrencies?

The rapid growth on cryptocurrency exchanges is explained by institutional purchases, which had a large impact on the current boom. The financial giants appreciated the positive reports and forecasts for the future as well as the still untapped potential of the cryptocurrency.

Buying Bitcoin is certainly a good investment, and the cryptocurrencies themselves are compared to gold, with the difference that the virtual currency is also full of mobility. Investing in cryptocurrencies is a response to the global economic crisis and rising inflation, which has serious consequences. Forecasts for 2021 assume a further increase in Bitcoin’s value, predicting that its value will remain at around 50% of the current state, so buying cryptocurrencies is still a good idea – it’s best to do it in moments of decline.

The article was written in cooperation with the bitcoin-exchange.uk portal, where you will find many interesting articles, curiosities and information for beginners and advanced users interested in the cryptocurrency and exchanges market.

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Out of all the major trading players in the world, India was amongst the ones that faced huge losses. The GDP rate of the country was the highest in the world as it registered -23.9% in the first quarter of the fiscal year 2020-21. Amidst all the resignation chaos, if there was one thing that kept the traders going on with their businesses, it was the import and export news facility. Traders who followed reliable sources of information and shipping blogs reported having apt information about the market happenings. Let us understand how COVID-19 pandemic affected the international trade industry. 

The Covid-19 pandemic did not spare any country in the world from its adverse effects on the economy. 

Impact on International Trade: The Major Highlights 

• With the widespread drop in exports and imports in the first five months of 2020, the global trade volume fell by 17.7% in May. 
• The major and direct impact of this decline was in the USA, the European Union and Japan. 
• The Caribbean and Latin America are amongst the most affected regions, with India, Italy and Spain following the lead. 
• Traders had to face huge financial losses as many export orders got cancelled after the lockdown. Electronics and textiles, engineering goods, and cars were the major sectors during the prime months of the pandemic, reported economists through the export news. 
• Industries like the stock market, real estate, professional services, etc., were staggered to its core. Most of the investors and financial analysts reported huge losses as the stocks of the major industries showed negative trends in the first two quarters. 

As per the leading world economists, the developing countries will become years behind their growth process as an impact of the pandemic. For the developed economies, winning the race against falling GDP will be tougher. Most of the merchandise firms and MNCs will take time to overcome the consequences of the same. While China became the only country to have a positive GDP growth rate, the actions taken in defence by many countries remains an enigma! 

Influence of The Pandemic on Different Commodities 

Fluctuations in the medical and consumer goods industry have been terrible as compared to the other sectors of the economy. With the increasing demand and limitations on supply, export news showed different trends every day! Records of a few industries are given below. 

• Edibles: Soybeans and Frozen Meat 

The decline in the exports of these edible products was astonishing as countries like the USA and China faced losses amounting to 50 Billion USD or more. And while the latter picked the pace after April’20, countries like Germany, Russia, Canada, Japan, etc. are still facing losses, as per the latest export news. 

• Luxury Cars and Bicycles 

The international market for car exports remained down even after the first quarter. A few countries like Brazil, Spain and South Africa reached the breakeven after July. Canada and Japan suffered the maximum hit as their market fell by 6 billion USD in April and May. 

For bicycles, the export pattern remained quite different, given the maximum traffic is handled by China. After a fall of over 100 million USD in March, the exports hiked straight up to 50 million USD in May and June. 

• Delivery Trucks 

The United States took the direct hit of fall in exports of delivery trucks as the losses amounted to 1.6 Billion USD. Japan and Canada were right behind it and lost their business valued millions. The export pattern of these companies also reflected in the market as the traders failed to meet their demands for inland logistics. 

• Head Wears and Footwears 

The apparel industry could not escape the impact of the pandemic as well. While most countries like the USA, Canada, Spain and Germany managed to not fall below 200 million USD, China went down to a billion and a half! However, the only related product that showed a stellar performance was the exports of face masks, as per the export news. 

All these reports and details bring us to the conclusion that the international trade market is prone to a global change. With no control over situations like COVID-19 pandemic, the best traders can do to survive in the industry is stay updated! Follow the import and export news regularly without missing out on any headline. Stay informed and stay ahead! 

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Failing to understand a trend’s nature, many traders, especially the amateurs, leave a potentially strong trend just out of fear. They tend to be scared of a hypothetical reversal to appear and never miss even a mingy chance to exit a trend. Most times, those trends are still on the rise, and anyone can extract profit just by clinging to them.

However, even someone who doesn’t follow a trend can converge the idea of leveraging one with his regular approach. Having a proper perception of the market’s direction and the dominant side of the market is always gives an edge to a trader.

Various Market Phases

Before learning how to discern a trend, we need to know first what we are looking for. It should be noted that the market only can go in three directions: upward, downward, or sideways. The momentum and the lengths of trends always change, though the price only can move in one of those three directions.

How to Detect Trends while Trading in the Forex Market

In this article, we will only look into the process of identifying a trend. We will also look into some instruments that explain different aspects of the market.

• Using the price chart

Most traders deploy candles and bars to inspect the price movement. They often overlook the efficacy of a line chart.  A line chart is the simplest way to observe price changes, and it presents the market removing all the unnecessary noise and clutter. Try using the best CFD trading platforms so that you can study the line charts without any errors.

The objective of candles and other forms of the bar is to provide traders with detailed data on the current happening on a chart. Analyzing all the data provided by those bars are not even always necessary. The best approach for a trader will be detaching himself from those bars sometimes and use line graphs instead.

There is no doubt that bars are essential, and traders should never settle for ignoring them. However, as we are discussing finding a way to identify a trend and its direction, the line graphs are more reliable that contexts.

• Highs & Lows

Many investors find themselves being in love with the process of debunking a trend analyzing the highs and the lows that the market provides. A typical scenario for an uptrend is that the market generates higher highs at that time. The buyers become the dominant side, and they push the rate of a currency higher. Like the highs, lows tend to be also higher due to the buyers’ early joining and purchasing the dips.

Conversely, during a downtrend, the highs and lows are both lower. The sellers achieve dominance, and they push the price lower and sell their assets earlier.

• Moving Averages

Moving averages are, without a doubt, one of the most popular instruments when it comes to identifying trends and their directions. However, to get the clearest idea of the market using moving averages, there are some crucial factors that traders should be aware of.

The size of a moving average highly affects the turning point of a movement. When a moving average is small, it’s more likely to give false signals by reacting immediately to trivial price movements. Likewise, a faster-moving average may make a trader leave a trend even when the trend is about to retain its momentum.

A slower moving average is the most credible among all types of moving average. However, a slow average may give a late-signal and make the trader have a late-entry.

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