Most of the Forex brokers that I have come across have different types of accounts, which generally have different specifications. The specifications which I have mainly come across are base currency, contract size, spread, commission, maximum open/pending orders per client, Minimum trade volume, lot restriction per ticket, Hedging, Islamic Account and Minimum Deposit.
For the Forex beginners, I have always seen it wise to go for that account which offers you the space to make a few trading errors without costing you too much of your hard earned money. I would personally go for an account that allows the least initial deposit amount and at the same time offers the largest leverage. These two: leverage and deposit amount, go hand in hand. Since as a beginner you would fear investing too much of your money into Forex trading, I would advise that you go for the highest leverage.
However, although most of the broker accounts which allow the least deposit allow as little as $5, it is always good to deposit at least $50 or more so that you can have a better chance of trading. With a small amount of funds, you will be limited to opening small lot sizes and also fewer orders. Also, with small amount of money you may not be able to hold long term orders for long since any major movement especially against you would mean that your account is “wiped” off.
Another thing I think is paramount to look at is the minimum trade volume and the contract size (the size of 1 lot e.g. 1 Lot = 1,000). I prefer that you go for the least of minimum trade volume and the least contract size to reduce the risk since as a beginner you still don’t have much of trading skills.
I think the other specifications like the allowed base currency, whether the broker allows a Muslim account and other specification of the account will depend on your preference.
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