WHAT IS DEMO ACCOUNT IN FOREX

By | September 8, 2019

DEMO ACCOUNT IN FOREX – Maybe you are not familiar with Forex (beginners) now, or you can learn Forex trading. So it’s good to first understand what a Forex demo account is and know how to create a very useful and free demo account.

Explanation of the Demo Account In Forex

Demo accounts are the types of accounts provided by most online forex brokers where a trader (beginner) can trade online like in the real world but without the risk of losing money or capital.

Traders can see price movements in the foreign exchange market in the application provided by the broker along with the demo account. In addition, traders can perform buy/sell performance or close (close) trading positions, practice strategies, and so on, depending on actual market conditions. Only to use a forex demo account, traders do not have to provide money or capital.

In a demo account, the trading account balance is virtual money (not real money) provided by a free forex broker. So if the profit is, the profit cannot be paid. Conversely, if you lose, you don’t have to suffer losses. No need to be afraid; The broker will not charge any fees to offset the losses on the Forex demo account.

Destination Forex Demo Account

  1. For beginners, Forex Demo Accounts provide a very realistic picture of online forex trading.
  2. Forex demo accounts are useful for improving trading skills before traders choose real accounts because they also practice trading analysis and execution.
  3. Beginner and experienced traders can use a Forex demo account to test the trading system for free without fear of losing it.
  4. For traders who are still looking for brokers, you can open a demo account on Forex to see what the broker’s technical performance (server, speed, etc.).

The advantage of a demo account in trading training

The benefits of a demo account in learning forex trading are many. The benefits of a demo account are often not comparable to traders.

As we all know, Forex Online offers a special trading simulation tool that is very similar to the original. This setting is called a demo account or a demo account or a virtual account. We can open an account with virtual funds as needed. We can then use a demo account by doing simulations, e.g. Exactly the same as trading on a real account with differences that only concern funds. Real accounts use “real” money while demo accounts use “money”. That is the difference

In business with real or commercial sectors, there is no simulation like the original, as a demo account for trading on Forex. For example, if you want to start a business with an investment of 100 million, funds must be spent to complete all the preparations such as location contracts, renovations, recruitment, training, promotions, and so on. for the grand opening. After spending money, the business must work. We cannot withdraw because the price has been issued. There is no other choice in the way, otherwise, we will suffer losses.

We who are not new in the car must learn and practice a lot. Use the demo account feature with our best capabilities to expand your knowledge and experience without risking loss. Cannon said that the demo account does not release the adrenal gland; The fight against the intestine is not a place to invest. The advantage of a demo account in learning forex trading, therefore, is clear primarily to avoid the risk of loss, especially if we have no experience.

Don’t pay directly to a broker by opening a real account. But try to consistently learn and practice in a demo trading account until you reach a conclusion:

  • If the trading results from the demo account are still not good for at least 3 months, you never dare to make a deposit into a real account. Get the benefits of a demo account again by studying and practicing for 3 more months.
  • If the results within 2 x 3 months are still not encouraging, if he has consistently studied and practiced trading demo accounts, it is better to scroll back. Announce your plan to invest online in Forex trading. We avoid financial and mental losses. We cannot enter the forex trading business without having to make all the losses. This includes the benefits of a demo account. Remember that this might not happen in the real estate or commercial sector. Refund expires because the cost has been incurred. Unfortunately, many people use the wrong thinking in forex trading. Make fast cash deposits by opening a real account without having to go through a process that is good and right. Some people feel the pride of opening a demo account. The demo account, which will later be LOST, MARGIN CALLS, and BAD, cannot be used.
  • If the demo account results are sufficient for at least 3 months, please deposit money to open a real account with a forex broker.

Make the most of a demo account. Do not rush to profit, reduce the risk;). I always emphasize this to prepare for the Forex trade.

How to create a Forex Demo account

If asked, take Special Requirements for forex demo. You simply register at the broker for a Quick demo account. Required, the broker will send an application download link (trading platform) by receiving your ID and password through your email. After you download, install, and enter the application; then it can be slow to see the price movements of the day practicing forex trading.

Application registration or demo account is completely free. You can buy very easily and quickly (less than 10 minutes). you can read on the page below:

Create free FBS Demo account Guide

The FBS brokerage currently does not offer a special form for registering a demo account. Or, you can start the registration step from the normal registration form and then create a new demo account in a private space.

You can go directly to FBS official website Here, then there will be a registration form as below:

WHAT IS DEMO ACCOUNT IN FOREX

  • After you fill out the form, click “Register as a retailer”. You will immediately receive a PIN, account number, trader password, and information about the trading server.
  • You can then enter the Personal Zone in the Merchant menu, then select the Show tab in the Account column in the left corner of the page.
  • Choose the (+) next to the Trading line if you want to try demo trading on MT4, or sign (+) next to Trading MT5 line when you want to open a demo account with the MT5 trading platform.
  • Complete the registration form for the demo trading account with the details of your account type, currency, leverage, and the amount of virtual balance you want.
  • Click “Open trading account”.
  • You will get the login data to the trading platform, such as account number, password, and demo server.
  • To start trading on your demo, please first download the FBS trading platform here.
  • Run the MetaTrader FBS program.
  • Select the menu-file-login, to login to your demo account with the account number, password, and server you have obtained.

WHAT IS DEMO ACCOUNT IN FOREX

Forex Demo Account is a free service that is very useful for traders to learn and practice online Forex trading. Because only virtual money (toys) is used, there is no risk of material loss. However, online commercial images taken by marketers may not be optimal, especially psychologically and emotionally. Trading pressures with real money risk will vary greatly compared to forex demo accounts. To optimize the functioning of your Forex demo account, you can follow the tips for practicing a demo account before registering.

2 thoughts on “WHAT IS DEMO ACCOUNT IN FOREX

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