The brokers have arranged a demo trade. You can practice Forex Demo Trading with virtual money on demo account.
What is Forex Demo Account?
You may be interested in trading Forex. But you do not know how to trade forex. Many people have heard of pips and leverage, but they do not understand anything because they have not traded. So you may be afraid to invest in Forex in the beginning. Because since you can’t do anything, the chances of losing are high. But in this modern age you can trade test without spending any money.
You can lose in the demo, even blow up the whole balance, no problem. It’s just to further enhance your skills. The more you trade, the more you will learn to trade. You should not start your real trade before you learn to trade well. Because then you will be more likely to lose. So when you are satisfied with your trading by demo trading, you should only start real trading.
How long should Forex Demo Trading be done?
Demo should be traded for at least 2 months. But there is no specific time.
What is the profit if you do forex trading with demo?
- You can learn different Forex techniques through demo trading.
- Able to test different trading strategies.
- You can identify the causes of your loss and correct it.
- You can check the effectiveness of any new EA or indicator
- Demo trading will help you in many ways to further improve your trading overall.
How to start a demo trading?
You will need a software to do demo or real trade. Which is called trading terminal in the language of Forex. Most brokers use MetaTrader terminals. We also need to download a MetaTrader terminal. Open a demo account by clicking the link below and download the MetaTrader platform.
How to Open a Forex demo account?
After mt4 downloading, open your MetaTrader terminal.
Let’s open a demo account now:
First click on Open an account from File.
The following window will appear. Fill-it up. Then click on Next:
Select InstaForex-Demo.com and click Next:
Demo account created. Now save the account number and password and click on Finish.