A demo account is a trial version of a live trading account. Using a demo account, a beginner can practice forex trading risk-free.
How to open a demo account?
Before opening a live trading account, we strongly recommend you to get started on Forex with a training account, or demo account.
Indeed, it is a perfect way to explore a trading platform and learn how to carry out trades because a demo account bears the same features as a live account. The main difference between them is that a demo account is “funded” with simulated money, so all profits and losses are fictitious.
Apart from newcomers, a demo account is helpful for traders with forex skills as it enables traders to experiment with unfamiliar financial products and trading strategies.
Advantages of trading on a demo account:
Directions for opening a demo account
mportantly, a trader can open as many demo accounts as possible. So you are free to open a separate demo account to practice a new trading strategy on the MetaTrader platform.
To become a successful professional trader, you do not have to start trading with big investments. A demo account is a wise solution to launch on Forex. If you develop your own vision of the market, success will be just around the corner.