To achieve a familiarity

[Luke Hansen]

To achieve a familiarity with the fundamental factors of forex any foreign currency exchange trader can take benefits of his demo trading account. A trader can get acquaintances with forex under market conditions by trading with artificial money as real money. By this means when a trader makes practice with demo account a trader can categorize and triumph over his mistakes and it can make his live trading journey better.

 

[amri.rudi]

Traders might still benefit from a longer, less active strategy that would allow them the largest benefit from the low cost nature of trading Forex.

 

[Poinwan]

Demo accounts are the best starters in the foreign exchange trade since you'll be using virtual money instead of real money.However, if a trader wants to get the real experience without losing much, try using cent or mini accounts since the risk would be lower but still real

 

[Alekxandra]

I will agree. Demo account allows you to get acquainted with forex. It is very convenient, and it is very good that forex brokers offer such an opportunity for free.

 

[2iquelo]

Demo accounts are the best starters in the foreign exchange trade since you'll be using virtual money instead of real money.However, if a trader wants to get the real experience without losing much, try using cent or mini accounts since the risk would be lower but still real

I fully agree with the issue of Demo accounts for newbies, since it involves using virtual money, which means the trader will not feel the risk as in real accounts and thus be motivated to trade more. However, I support the issue of cent or mini accounts more, since it is better to have a feel of what real trade is like. Some strategies may work for you in a Demo account but fail in a real account

 

[Hulas]

Probably this is the most important stage of preparation. You can read tons of articles or listen to webinars, you can even have a personal coach who can lead you through the basics, but until you don’t see the reality and how it really works all the mentioned above is just useless.

 

[Hendadda]

No doubts – demo account should be number one on any trader’s priorities list. No way it would be possible to trade just right away. But also this is even more important for brokers to make sure that their traders completed the demo period. This give the broker understanding of his players.

 

[Fanaudy]

I agree that new traders should make first baby steps in Forex on demo account first. But they should do this seriously, not as some sort of a good video game. It should be used to test their knowledge and to formulate trading strategy and plan

 

[anton.blood]

trading a market which turns over more than $5 trillion every single day can be quite daunting at first. This is why your first Forex account should be a Forex demo account when you are starting out.

 

[Electric Rainbow]

Right, demo account is made for learning and to test for new strategy that can help you to improve your trading skills and knowledge so that you can be more confident about your trade when you face the real market.