Forex Demo Account
Trading has changed so much over the few decades since the initiation of the financial markets as we know them today. There are so many resources available to the prospective trader, and many of them for free. Once you have worked your way through a number of tutorials the most useful tool you’re likely to encounter will be the demo account.
All the significant brokers will offer a demo account, often even to potential traders who have not yet signed up with them as it’s an excellent way from them to demonstrate their wares.
Spending a few days dedicated to learning all you can from a demo account will quickly help you identify the benefits of forex trading and determine whether this is a market that you’re suited to. It’ll help you learn the jargon, speed of change and the potential for truly staggering gains to be made.
If you already have a broker in mind to work with then talk to them, or just get on their site, to get a grasp of what they have to offer. Using their demo will help you get to grips with their platform too. Although many use the respected MetaTrader 4 platform, each will have tailored it to their specific requirements which may, or may not, suit you. You do need to be sure though that the broker’s demo accounts are based on their live platform. It is in their interest for this to be the case, but it is not always so.
Otherwise try a site like the interesting titled Forexfraud.com which helps with it’s own analysis of eight top demo accounts and the benefits offered by each.
To get best use from the demo account you’ll need a robust and fast internet connection. If yours is good but not quite good enough consider moving from wi-fi to your Ethernet connection. It may just give you the boost you need.