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    Thread: Forex Demo Account

    1. #1 Collapse Post
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      Default Forex Demo Account

      Forex demo account is one of the best learning, practicing, educational, informational and even entertaining tools that every Forex newbie can use for his advantage. Sometimes, beginning currency traders underestimate the usefulness (and I would say, the necessity) of the demo account trading. Demo account can be opened with almost any Forex broker and in 99.9% of cases it’s completely free. On the demo account one can trade Forex with the virtual money, doing exactly the same things that he’d do on the real account but without risking any real money. The advantages of the Forex demo accounts are tremendous:
      1. It’s free — you don’t have to deposit anything or pay any fees to open the demon account with the vast majority of the Forex brokers. And in the case when you don’t know whether the Forex trading is a right thing for you at all, “free” is the synonymous for ”great”!
      2. Practice trading — with your free Forex demo account you can practice your trading skills, develop new strategies and learn new things about currency trading. That’s possible because all currency pairs behave equally on demo and real accounts. The only difference is the virtual vs. real money.
      3. Get to know the broker’s platform — with demo account you have the access to the Forex broker’s trading platform, which you can test before moving on to the real account. And this can be very useful, especially with the exotic trading platforms.
      4. Free charting tool — even if you don’t plan to trade with the specific Forex broker, you can always use its demo account to have a free access to their trading platform’s charting tools. That can be very useful when your real account is set at the broker with a not-so-good platform.

      Those are the advantages of the Forex demo accounts. Of course, it’s necessary to say something about the caveats, but the biggest thing about the demo accounts is that they are free, so, we can always close our eyes on their disadvantages without any damage to our purses.
      1. Execution may differ — unfortunately, Forex brokers usually have an ideal execution (no slippage, no reqoutes and no market delays) for the demo accounts and a real execution (with some of the mentioned unpleasant things) fore the real money accounts. You should understand this when moving from demo to real.
      2. Some demo accounts expire — some Forex brokers make demo accounts expire after 30 days. Of course, you can always open a new demo account, but all your stats and positions will be lost. Just try to find a broker with non-expiration demo accounts.
      3. Emotions are different — the psychology of Forex trading is very complex. When you trade on demo account using the virtual money the loss won’t frustrate you much and the wins won’t get your heart beating like crazy. On the real Forex accounts emotions play a huge role. You should keep in mind that you’ll have to adapt your trading psychology from demo to real at one point.

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


    2. 17 users say Thank You to saplay for this useful post.

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      every beginner in forex should use demo account at least 6 months, then open micro account with small deposit to practice himself to deal with real money and control his emotions.

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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      I also recommend the beginner forex traders study the market in 3 months in the demo account, if it can trade with a consistent income can be transferred from demo account to live account cent and try with small amount.

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


    5. The Following User Says Thank You to zack_69 For This Useful Post:

      pronoy89 (06-28-2012)

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      Thanks saplay for nice article.
      Demo account it's very valuable for me.
      I use it for testing my new strategy and EA.

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


    7. The Following User Says Thank You to greenteafx For This Useful Post:

      pronoy89 (06-28-2012)

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      Quote Originally Posted by saplay     
      Forex demo account is one of the best learning, practicing, educational, informational and even entertaining tools that every Forex newbie can use for his advantage. Sometimes, beginning currency traders underestimate the usefulness (and I would say, the necessity) of the demo account trading. Demo account can be opened with almost any Forex broker and in 99.9% of cases it’s completely free. On the demo account one can trade Forex with the virtual money, doing exactly the same things that he’d do on the real account but without risking any real money. The advantages of the Forex demo accounts are tremendous:
      1. It’s free — you don’t have to deposit anything or pay any fees to open the demon account with the vast majority of the Forex brokers. And in the case when you don’t know whether the Forex trading is a right thing for you at all, “free” is the synonymous for ”great”!
      2. Practice trading — with your free Forex demo account you can practice your trading skills, develop new strategies and learn new things about currency trading. That’s possible because all currency pairs behave equally on demo and real accounts. The only difference is the virtual vs. real money.
      3. Get to know the broker’s platform — with demo account you have the access to the Forex broker’s trading platform, which you can test before moving on to the real account. And this can be very useful, especially with the exotic trading platforms.
      4. Free charting tool — even if you don’t plan to trade with the specific Forex broker, you can always use its demo account to have a free access to their trading platform’s charting tools. That can be very useful when your real account is set at the broker with a not-so-good platform.

      Those are the advantages of the Forex demo accounts. Of course, it’s necessary to say something about the caveats, but the biggest thing about the demo accounts is that they are free, so, we can always close our eyes on their disadvantages without any damage to our purses.
      1. Execution may differ — unfortunately, Forex brokers usually have an ideal execution (no slippage, no reqoutes and no market delays) for the demo accounts and a real execution (with some of the mentioned unpleasant things) fore the real money accounts. You should understand this when moving from demo to real.
      2. Some demo accounts expire — some Forex brokers make demo accounts expire after 30 days. Of course, you can always open a new demo account, but all your stats and positions will be lost. Just try to find a broker with non-expiration demo accounts.
      3. Emotions are different — the psychology of Forex trading is very complex. When you trade on demo account using the virtual money the loss won’t frustrate you much and the wins won’t get your heart beating like crazy. On the real Forex accounts emotions play a huge role. You should keep in mind that you’ll have to adapt your trading psychology from demo to real at one point.
      very usefull post bro. thank you.
      and for me testing EA is better to do it at demo account
      rather than test it using backtest with historical data

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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      Quote Originally Posted by saplay     
      Forex demo account is one of the best learning, practicing, educational, informational and even entertaining tools that every Forex newbie can use for his advantage. Sometimes, beginning currency traders underestimate the usefulness (and I would say, the necessity) of the demo account trading. Demo account can be opened with almost any Forex broker and in 99.9% of cases it’s completely free. On the demo account one can trade Forex with the virtual money, doing exactly the same things that he’d do on the real account but without risking any real money. The advantages of the Forex demo accounts are tremendous:
      1. It’s free — you don’t have to deposit anything or pay any fees to open the demon account with the vast majority of the Forex brokers. And in the case when you don’t know whether the Forex trading is a right thing for you at all, “free” is the synonymous for ”great”!
      2. Practice trading — with your free Forex demo account you can practice your trading skills, develop new strategies and learn new things about currency trading. That’s possible because all currency pairs behave equally on demo and real accounts. The only difference is the virtual vs. real money.
      3. Get to know the broker’s platform — with demo account you have the access to the Forex broker’s trading platform, which you can test before moving on to the real account. And this can be very useful, especially with the exotic trading platforms.
      4. Free charting tool — even if you don’t plan to trade with the specific Forex broker, you can always use its demo account to have a free access to their trading platform’s charting tools. That can be very useful when your real account is set at the broker with a not-so-good platform.

      Those are the advantages of the Forex demo accounts. Of course, it’s necessary to say something about the caveats, but the biggest thing about the demo accounts is that they are free, so, we can always close our eyes on their disadvantages without any damage to our purses.
      1. Execution may differ — unfortunately, Forex brokers usually have an ideal execution (no slippage, no reqoutes and no market delays) for the demo accounts and a real execution (with some of the mentioned unpleasant things) fore the real money accounts. You should understand this when moving from demo to real.
      2. Some demo accounts expire — some Forex brokers make demo accounts expire after 30 days. Of course, you can always open a new demo account, but all your stats and positions will be lost. Just try to find a broker with non-expiration demo accounts.
      3. Emotions are different — the psychology of Forex trading is very complex. When you trade on demo account using the virtual money the loss won’t frustrate you much and the wins won’t get your heart beating like crazy. On the real Forex accounts emotions play a huge role. You should keep in mind that you’ll have to adapt your trading psychology from demo to real at one point.
      this is a great post indeed! thanks for posting it saplay.
      there is a huge difference between demo account and live account. it's like fighting in street fighter vs fighting in the real world. in street fighter you don't feel the pain and many people are happy playing that video game. in the real world, nobody wants to get punched in the face let alone taking a hit from an axe kick LOL.

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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      Quote Originally Posted by PhAnToMtRaDeR79     
      this is a great post indeed! thanks for posting it saplay.
      there is a huge difference between demo account and live account. it's like fighting in street fighter vs fighting in the real world. in street fighter you don't feel the pain and many people are happy playing that video game. in the real world, nobody wants to get punched in the face let alone taking a hit from an axe kick LOL.
      lol... it`s really true if you describe it as real fighting and fighting in video game bro..
      i never get hit by an axe on my face before, since i was born till now. i dont know how it feels. lol..


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      Quote Originally Posted by saplay     
      Forex demo account is one of the best learning, practicing, educational, informational and even entertaining tools that every Forex newbie can use for his advantage. Sometimes, beginning currency traders underestimate the usefulness (and I would say, the necessity) of the demo account trading. Demo account can be opened with almost any Forex broker and in 99.9% of cases it’s completely free. On the demo account one can trade Forex with the virtual money, doing exactly the same things that he’d do on the real account but without risking any real money. The advantages of the Forex demo accounts are tremendous:
      1. It’s free — you don’t have to deposit anything or pay any fees to open the demon account with the vast majority of the Forex brokers. And in the case when you don’t know whether the Forex trading is a right thing for you at all, “free” is the synonymous for ”great”!
      2. Practice trading — with your free Forex demo account you can practice your trading skills, develop new strategies and learn new things about currency trading. That’s possible because all currency pairs behave equally on demo and real accounts. The only difference is the virtual vs. real money.
      3. Get to know the broker’s platform — with demo account you have the access to the Forex broker’s trading platform, which you can test before moving on to the real account. And this can be very useful, especially with the exotic trading platforms.
      4. Free charting tool — even if you don’t plan to trade with the specific Forex broker, you can always use its demo account to have a free access to their trading platform’s charting tools. That can be very useful when your real account is set at the broker with a not-so-good platform.

      Those are the advantages of the Forex demo accounts. Of course, it’s necessary to say something about the caveats, but the biggest thing about the demo accounts is that they are free, so, we can always close our eyes on their disadvantages without any damage to our purses.
      1. Execution may differ — unfortunately, Forex brokers usually have an ideal execution (no slippage, no reqoutes and no market delays) for the demo accounts and a real execution (with some of the mentioned unpleasant things) fore the real money accounts. You should understand this when moving from demo to real.
      2. Some demo accounts expire — some Forex brokers make demo accounts expire after 30 days. Of course, you can always open a new demo account, but all your stats and positions will be lost. Just try to find a broker with non-expiration demo accounts.
      3. Emotions are different — the psychology of Forex trading is very complex. When you trade on demo account using the virtual money the loss won’t frustrate you much and the wins won’t get your heart beating like crazy. On the real Forex accounts emotions play a huge role. You should keep in mind that you’ll have to adapt your trading psychology from demo to real at one point.
      Though there are some advantages and some disadvantages when you are trading with demo account there.You still can get a lot knowledge and experience in forex without losing any money in forex.

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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      forex demo account on of the service that the forex company offer it for the customers because some time some traders in the first like to start trading in demo account because they didnt have enough experience about the forex and how to trade and then open real account.

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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      Quote Originally Posted by monkeylong     
      Though there are some advantages and some disadvantages when you are trading with demo account there.You still can get a lot knowledge and experience in forex without losing any money in forex.
      yes, the demo account you can not feel the pressure of emotion, very different from trading with real account

      Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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