What is free Forex demo account?

 

If you are just starting to trade in forex, you need to know what free forex demo account is and
all trading rules, strategies and be able to apply them. To do this, each broker has developed a
demo account Forex. This is a simple virtual trial account, without your real money invested.
Here you can also trade and try different pairs, use graphs and tips.


Almost every broker provides training video tutorials, having watched them you will be able to
apply knowledge on a demo account. Simply put, a demo account is designed so that you can
learn how to trade and get profit, and not remain in loss. The difference from a real account is
that you will not be able to withdraw your profit to a purse or a currency account. But do not lose
your money. If you confidently master the trade, only then you need to open a real account with
the introduction of their financial assets.
What you need to know when opening a demo account
Once you have chosen a broker, you need to download the MetaTrader 4 or 5 version on the
official website. It is available for download from each broker and it is free. After installation,
you need to choose to open a demo account and specify your data: name, phone number, choose
the currency, the size of leverage and the amount of the deposit.
Consider, the higher the size of the leverage, the more you can earn on the Forex exchange. In
addition, brokers also differ in the minimum deposit, it is more convenient for you to start with
small amounts. Select the trading pair you want to work with. Some brokers provide an analysis
of the market, with their forecast, you can choose as classical options, for example, dollar / euro
or exotic, for example, Hong Kong dollar, Norwegian krone. Follow the prompts in the platform.
Now you know that is a free forex demo account and for convenience you can use additional
tools-helpers:
 Charts. It is more convenient to use the so-called “Japanese candles”. They are black and
white so that you can see the bear or bull trading.
 Ready-made strategies. Beginners should use ready-made recommended trading
strategies, there are several of them. After trying everything, you can stay on a more
convenient and meaningful for you. In the future, you will be able to develop your own
personal and successfully apply it in the auction.
 Order execution time. You can immediately close the deal or postpone it taking into
account the analysis and prospects. Experienced traders can make pending transactions
and receive substantial profit.
What is a free forex demo account? In more detail you can understand and open everything,
study the demo account, after you install the MetaTrader 4 or 5 terminal. Follow the instructions,
study the interface and use the training video tutorials and you will become a successful trader!