FX Demo Account
FX Demo Account, image: forexsq.com

Most Brokers offers a demo account for free. The Demo account has the same functionality as with the real account. One of the most obvious reasons for a demo account is because a broker wants you to learn how to trade and understand the risks involved thereof.

A Demo is a zero-risk trading platform where traders learn the mechanics of forex trading – this also helps you figure out your trading skills and how you can improve on them.

One should open a demo account – before dwelling in the Forex Market with real money. You need to develop a solid profitable strategy before using real capital. However, if you feel you are ready but not 100% sure, open a risk-free real account with FBS with $50 allocated to your account, that’s right, the $50 Bonus Account lets you trade for free and keep the profit after having traded 2 lots.

It is mostly advised to concentrate on one major currency pair, to make things a lot less complicated for you. Get a Demo account – and start to test the features of a trading platform.

The Demo Account has funds which cannot be withdrawn even if you’ve made a huge profit – However FBS has the DEMO ACCOUNT COMPETITION which you can sign up for – the higher the amount in your demo – you get to win real money, 1st prize stands at $450 – You have nothing to lose.

You may open a demo account today – it costs nothing.

WHAT IS A FOREX DEMO ACCOUNT?

A beginner’s way to learn the fundamentals of forex trading risk-free –  this also gives a trader an opportunity to test the platform used by the broker. Demo Accounts are 100% free to open and have the same functionality as with the real account.

FACTS

  • A demo account is free
  • They use the same real-time as with the real account
  • You not making any profit with a demo account.
  • Use the same platforms with the same functionality.
  • Some companies offer a demo account for a short period of time and all the way up to Infiniti. (FXTM offers a demo account forever just as with FBS)

A demo account is gonna seem like a regular account – brokers will fund it with just ‘play money’ – of you can fund it yourself with ‘Play money’ on some brokers platforms – The only part that is not real with a demo account’ is the money used to trade.

Signing up for a demo account is hassle-free, some brokers might need verification before you receive your login credentials. In fact, when you open a real account, automatically in most brokers you can switch between real and a demo account as it is automatically created.

Most of the common trading platforms that traders use are MetaTrader – there’s MetaTrader 4 and MetaTrader 5 as well as the online web trader platform.

Start trading on a demo accountopen an Account with FBS (recommendation) and select a demo account for registration. The Journey to becoming the best trader start with some learning and some demo account.

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  • Founder and Business Writer of iBusiness.co.za, (born June 28), a South African Business Reviewer and Blogger. A native of Ventersdorp, Mogopa Village (SA), often referred to as Zack. Let's talk iBusiness.

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