Maybe when you visit the Campus of FOREX first time , you are still new to know about forex or are in the process of learning more so look for many sources of reference . As a beginner , use a demo account as a media practice is a wise choice . You can trade such as real but with demo money . So you have nothing to lose .
Definition Demo Account
The demo account is a virtual account that forex brokers are generally provided to facilitate the novice before plunging into forex trading with real money . With this account a trader can trade online as real without real risk .
Market conditions that appear in the demo account is the actual market conditions . You can do a market analysis based on your trading knowledge and virtual transactions . In the demo account all available no different than real trading : no option buy / sell , trailing , buy / sell stop , buy / sell limit , and so on . Practice using the strategy fits perfectly with a demo account .
Overall no different when you are trading with a demo . The difference is its balance . The demo virtual means , the results you get can not be cashed . So if it wins , the profit is not worth nothing but experience can you dig . Conversely, if lost , also did not miss anything . However, your demo account can not view one eye , because you failed in the demo , you automatically fail in real trading .
The purpose of Demo Account
Market conditions that appear in the demo account is the actual market conditions . You can do a market analysis based on your trading knowledge and virtual transactions . In the demo account all available no different than real trading : no option buy / sell , trailing , buy / sell stop , buy / sell limit , and so on . Practice using the strategy fits perfectly with a demo account .
Overall no different when you are trading with a demo . The difference is its balance . The demo virtual means , the results you get can not be cashed . So if it wins , the profit is not worth nothing but experience can you dig . Conversely, if lost , also did not miss anything . However, your demo account can not view one eye , because you failed in the demo , you automatically fail in real trading .
The purpose of Demo Account
- For those who are new at all , the demo account will provide an overview of a very real , online forex trading .
- To finalize capabilities in forex trading before traders decided to use a real account .
- For testing , or build a trading system more freely , without fear to bear the loss when making a mistake .
- For those who want to join to the broker , then can try the demo account first to see how the technical performance ( server , speed , and so on ) from the broker .
How to Make a Demo Account
Creating a demo account at no charge . Moreover there is no requirement of any administration . You simply register at the broker concerned with the form profile . After that, download and install the application to your computer . It did not take long , because after MetaTrader 4/5 installed on your computer , just 5 minute demo account can already be used . You can create as many demo accounts if necessary . After that you can practice forex online . Here is the technical manual that can be read right .
- How to create a demo account - InstaForex Broker
- How to create a demo account - Broker FBS
- How to create a demo account - Broker XM
Conclusion
- Demo is a free facility that is very much beneficial for the trader / newbie to be able to see , learn , and get to know more about online forex trading .
- Because only use virtual money / toys , then the risk of defeat is not physically there .
- Although a demo account gives a picture that is almost like a fact , but it does not mean 100 % . Staying there is a difference with a real account . Especially in terms of the psychological , and emotional . Trading with risk , it will give a very different pressures .
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Forex is not something to fear, but fear when you are not able to control yourself in the forex or whatever. When profit in forex it becomes your personal responsibility, and when you lose in forex it also becomes your personal responsibility. Forex simply as a facility to achieve financial freedom, no more no less. Forex is a place to think realistically.
Being successful in forex, it means you are committed to establish a disciplined and thoughtful character. Forex may be the best mirror of your true character. Forex is just forex.
Happy reading.
Forex trading is getting popularity day by day. Everyone is knowing the advantage of trading in Foreign Exchange. Demo account plays a vital role in training those people who want to learn Forex Trading. I have found this article very informative.
ReplyDeleteRegards,
Ramiz Jilani
Forex Fund Management