Mastering Demo Accounts

Plunging into live forex trading, without knowledge or experience in FX, can result in substantial losses to your bank account! Fear, along with ignorance, are the biggest enemies of FX trading, and these are immediately eliminated when trading in demo accounts.

Investing time in a demo account will undoubltly improve your trading strategy. A demo account simulates a live trading account, with identical trading conditions, including same real time spreads and leverage, as well as real time signals and forex charts, all with zero risk.

Advantages of a demo account

• Virtual Funds

Since the funds are virtual, you trade with no risk; so the element of fear is eliminated and your trading strategy can improve with confidence.

• Unlimited Use of demo account

You trade without pressure as a demo account, in most brokers, is available for an unlimited period. This improves practice, allowing you to learn more aspects of FX trading and increase your FX knowledge.

• Gain experience

Practice makes perfect, and this applies to FX demo trading! The more you use a demo the more experience you gain, and of course, successful FX trading is all about confidence, knowledge and experience!

Many FX brokers will encourage even the most experienced and savvy trader to manage both demos and live trading accounts simultaneously, as they may want to trade different currency pairs or trade in different FX market sessions. In short, successful demo trading will improve the trading strategy of any serious FX trader; and a successful trading strategy leads to profitable trading!!