However, not all CFD brokers are tailored to beginner traders with a high risk threshold. Compare forex brokers that have features and customer service suitable for beginner traders while still offering generous leverage levels when CFD trading.
On January 2nd a comparison of the best forex brokers for Australian forex traders who are new to currency markets but are looking for high leverage. Most Australian forex traders are aware of the need to trade high volumes on currency markets due to the faction of a cent pips that pairings move each day.
If markets move in the traders favour by just 0. However, as currency markets are incredibly volatile, great losses can also ensue. For beginner traders with a high tolerance to risk, these losses can be mitigated through the use of handy tools such as guaranteed stops. At higher leverage levels any unexpected movement in currency markets can lead to significant losses that may exceed the traders deposit.
To ensure that a negative deposit balance never occurs or to limit the exposure of any one trade the broker must have a guaranteed stop loss option. It does cost a small premium, however, it could save traders thousands of dollars if markets move against them unexpectedly. A small price to pay for piece of mind and something we would definitely recommend to any beginner, regardless of their risk appetite.
There are 5 layouts created for forex traders that can be customised further to suit different forex trading Australia styles. The platform is well suited to beginners just starting out in the world of Forex or in CFDs trading. Moreover, the charting tools are state of the art and even rival the more well known platforms. This can be accessed directly within the Next Gen platform and allows traders to connect with a global web of like minded analysts and traders.
This forum is designed to spark inspiration and foster the sharing of effective trading ideas and strategies. Not only do they have a strong reputation nationally but they also offer strong customer service appropriate for beginner forex trading.
As mentioned earlier, the broker offers customer service during all hours that the currency markets are open. This customer service level was reviewed favourably on forums and review sites, especially for beginner traders. CMC Markets also are involved in the community.
Australian regulation also has other requirements such as the regular external audits and a minimum training level for relevant employees within the organisation. The broker also offers the highest leverage level of We deemed CMC Markets to be the best for this type of trader due to a number of the features presented above, especially their guaranteed stop losses and highest leverage of Please remember that the information presented in our comparison tables is compiled manually last updated on the 2nd of January and therefore prone to the odd human error.
CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved. Leverage Speed of Execution? Cuts Out A Dealing Desk?More...