I’m pretty new to forex trading and I want to pick a broker carefully instead of just jumping in. I found IC Markets and they seem solid from what I can tell but I’m honestly not sure what I should be checking or asking before I fund an account.
I know I should verify they’re regulated, which they are in Australia. But beyond that I’m lost. Should I test them with fake money first? Open an account and do one real trade? What would actually tell me if they’re trustworthy?
I’ve heard about GlobeGain offering rebates and having broker reviews, and I’m wondering if that information would actually help me as a beginner make a smarter choice. Like, should I be comparing IC Markets to other brokers before I pick, or is that overthinking it?
I have about $1,000 to start with and I don’t want to waste it on fees or hidden costs if I’m using the wrong broker. What’s the actual step by step process you’d recommend for a new trader trying to evaluate and choose a broker?