Demo accounts in forex trading should be a must for every forex broker since they should be used to test trading strategies and get to know the world of forex before trading in it. This is possible thanks to a peculiar combination of features:
As it is easy to understand, demo accounts are a perfect tool to create, test, and consolidate forex trading strategies. You should make sure to use a demo account as long as you feel uncomfortable with your personal forex trading strategy. The drawback of a demo account is that you do not learn the psychology of trading. Once you feel comfortable with you forex strategy you should open a live account.
It is very important for you to initially focus on one major currency pair rather than spreading your learning over many currencies. This would limit an information overload and give you the opportunity to trade sooner and with better results.
Feel free to use Demo account for free as long as you feel comfortable and contact us if you want to know more about it!