Forex Demo Account
What Is
Forex Demo Account?
Before committing your time and money to forex trading, you should be familiar with the ins and outs of the business. That's why forex brokers provide a demo account. A forex demo account is a practice account on a real trading platform funded by virtual money. This feature allows you to experience the real market without actually being exposed to the risk.
Why Do You Need Demo Account?
In demo account, you can:
- See how online trading really works.
- Trade without risk as there's no real money involved.
- Pratice how to make orders in the trading platform.
- Get the hang of the platform's tools and how to navigate them.
- Learn about the characteristics of market as well as the frequent changes in the market.
How to Start
Demo Account?
You can create a demo account in less than 10 minutes. Here are the steps to follow:
- Prepare you email address and phone number
This is because the broker would like to send verification codes to your email or phone.
- Go to a broker's official website
You can visit this broker as a start as it provides easy registration steps for beginners.
- Look for an account registration button
This is usually located at the top right of the page.
- Fill the registration form
Follow the instruction and write down your data as required on the registration form. After finishing this step, you would get login credentials that you need to save.
- Login and create a demo account
Enter the broker's Member Area with the credentials you have just acquired, then look for an option to create a demo account.
- Download the Platform
The broker would instruct you to download its trading platform. MetaTrader is usually the popular choice for demo trading.
