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Thread: Why do you need a free demo account on FOREX?

  1. #1 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Default Why do you need a free demo account on FOREX?

    We will start this interesting topic with the definition of the first word we come across when we enter the world of FOREX:

    "Trading"

    This word in English means earnings based on fluctuations in the rate of any currency and it is no secret that quotes on the Stock Exchanges change constantly and this happens under the influence of various factors. The ability to predict the direction of these changes brings benefits to an increasing number of people in different parts of the world. Trading Forex is possible not only with currency but also with stocks, binary options, and other financial instruments. The main thing is to do it based on a premeditated plan and not chaotically.

    In the old days, traders had to open their positions by phone, but nowadays all the activities of the Exchanges are translated into electronic format. The Metatrader trading terminal allows the operator to carry out his operations anywhere where there is Internet access. Therefore, the trader does not need to get up early and go to a work office. There are no bosses who are required to report on the work done. However, colleagues are also absent, there are only competitors in the whole world who also want to take their piece of your cake. The growing popularity of Forex trading is understandable: the daily turnover of this largest market reaches $4 trillion USD.

    First steps in trading. Free demo account and check your strategy.

    Trading is a very risky business that must first be properly understood. No one guarantees quick and easy earnings, as many advertisements promise.

    There is always the risk of losing your deposit, so you must first open a free demo account on FOREX

    This demo account, free of charge, will allow you to test your strength and your knowledge, both in theory and in practice, in test mode, learning on the Metatrader platform (the most widely used version of this platform is MT4), and understanding the algorithm to carry out buying and selling operations of different financial assets.

    You can operate as you wishthis demo account will not provide you with profit or loss.

    Naturally, practical training must be combined with theoretical training. We recommend that you learn about the works of the legendary Forex traders: Jack Schwager, Alexander Elder, Richard Dennis, Warren Buffet, etc. Their experience will help you avoid traps and learn much more about FOREX trading.


    Free Forex demo account


    The commercial strategy is another important condition for the preservation and increase of your capital. With the help of such an action plan, the operator systematizes his Forex trading. The free demo account allows you to verify the strategy by technical analysis. The essence of this technique is to compare buy and sell open trades for different time periods. During this time of practice with the Demo Account, a study is made of the signals and patterns of the price history processes, which tend to repeat themselves. For the technical analysis, a file of the quotes made by the trader is needed, which are automatically loaded into the Metatrader terminal. It is not recommended to use this strategy without verification, especially when trading with the help of an advisor.

    Therefore, what Forex offers, with the help of a free demo account to novice FOREX participants, is the opportunity to test themselves and test their strategy.

    Instaforex offers its clients different types of commercial accounts for different commercial strategies, allowing our clients to obtain excellent commercial performance.

    Each of these real accounts is accompanied by its demo account, which is the first help to those who, for the first time, enter this science of FOREX.


    Secrets of a successful start in FOREX.

    The principle of the behavior of a successful trader is simple:

    1. Trade in the way that is most comfortable for you, but with reasonable restrictions;

    2. Choose your niche (your market, your financial instrument (asset with which you will trade), the economic calendar, your trading strategy);

    3. Understand the professional terminology, the devices of the Stock Exchange where you will carry out your trading, and always remember the risks.

    This will help you not get excited and take responsibility for selecting promising offers. Practice shows that trading is available to people of all ages, professions, and nations. You don't need to be a financial genius or an Oxford economics graduate to trade, just do your best and set clear goals.

    Today there are many technical opportunities for FOREX market research, so my advice is to get yourself a powerful computer so you don't fail at the crucial moment when you catch the trend and take the best position. Practice placing pending orders, forecasting the spread (the difference between buying and selling currencies), learning how the global markets work during key trading sessions.


    Differences between a demo account and a real FOREX account.
    Working in the FOREX market is not only a unique opportunity to multiply your money, but it is also a difficult and sometimes very laborious task. It requires good training, both theoretical and practical. The necessary knowledge is provided by tutorials, video tutorials, online courses. The experience comes only after long hours of carrying out both sales and purchase operations with different assets in different time frames.

    In order not to incur losses in vain, novice traders use a special FOREX simulator, also called a Demo Account.

    Regarding functionality and capabilities, it is not at all different from a Live Account. By opening it, beginners can access the financial market, observe real quotes, monitor their operations, analyze their behavior. They can trade with other market participants; the only thing that differentiates these "Accounts" is that they are not manipulated with real money, but with virtual money. They are calculated gains and losses, so in this account, you cannot lose anything, but winning, too, will not work.

    But, you can trade without fear for the safety of your capital and without being under pressure for fear of making a mistake, so you have to pay dearly with your own wallet, beginners learn the technique of trading, learn to open and close trading orders, determine the optimal size of the lot to risk and learn to use the tools and indicators provided by the Metatrader platform.

    The Forex simulator or "Demo Account",, allows you to adjust all the actions to the automatism to be able to perform them quickly and without errors in the future in a "Real FOREX Account".

    However, even using such a unique tool, not all people are successful in forex trading. According to statistics, 99% of the people who appeared for the first time in the market lose their deposit, as many are interested in the difference between real and demo currency accounts.

    Differences between a demo account and a real FOREX account. Psychology

    The main point that distinguishes these two accounts is the psychological factor.

    It is difficult to carry out transactions with virtual funds to transmit to the subconscious that all operations are nothing more than a game. With this attitude, there is no composure, seriousnessactions are often committed irresponsibly. When a similar model is transferred to real capital, it is difficult to restructure quickly, leading to numerous losses. Because of this, the confidence disappears, it begins to seem that it is impossible to make a profit and all the Brokers inflate the clients completely, not allowing them to win.

    To achieve success, it is necessary from the first days to behave as if the administration were not a set of numbers, whose value can be corrected quickly, but you must get the idea that you are operating with your real personal savings.

    Carrying out your trading in this "Demo Account" must be done carefully, observing the rules of managing your virtual money, avoiding unnecessary risks, and strictly following the points of the chosen strategy.

    However, there is a completely different problem. It is based on the fact that not all people can properly and immediately conduct business operations, having a large amount of money in their personal account.

    Beginners begin to put pressure on responsibilitythere is a fear of losing everything, so you can miss good signals to open positions, and sometimes decisions are made under the influence of emotions.

    In such situations, it is recommended to start with an amount of money that is not too important for you to lose (even in a demo account). After all, often the trading strategy is highly dependent on the size of the deposit, and having become used to trading hundreds of thousands of dollars (albeit unrealistic), it is difficult to reorganize with a much smaller deposit.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  2. 3 users say Thank You to Rimi4x for this useful post.

    fadilah (10-05-2021), Heartbroken (18-06-2021), The End (10-05-2021)

  3. #2 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Demo account is for learning,trader can learn easily through this demo account.
    If trader learn through demo account than he can become a successful trader soon.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  4. #3 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    [SIZE="<font style="vertical-align: inherit;"><font style="vertical-align: inherit;">5</font></font>"]The demo account is your gateway to the Forex world. And the best place to train for currency trading. How, why and when to complete forex trades You will learn trading skills
    The demo account is not only for beginners but also for professionals
    If you are a professional you will be able to develop your skills, develop your strategies, try all ideas and develop plans without fear[/SIZE]

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  5. #4 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hy dear member I hope you will be fine and enjoying good trading as well as grabbing some healthy profits from the trading. I have read your opinion regarding the demo trading account and according to my opinion demo trading account is not necessary to use if we have a good grip on the trading then no need to go for the demo trading account. So that is only for the practice purposes and to learn the how know of the trading system. But I will urge you to go for the demo account before stepping into the real world trading. I hope my suggestions will be fruitful for the newbies.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. #5 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    A demo account is indeed a useful tool for beginners to learn about live traders, but it is also one of the best tools for experienced traders to practice new skills and strategy risk-free and efficiently.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  7. #6 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    A demo account can really help in bringing out the best in you. Reading and understanding to trade is one thing and trading in the live market is another. A demo account helps you in crossing the barrier and getting an idea of what the live market looks like.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  8. #7 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Free demo accounts are helpful for beginner traders to learn about live market trades, and beginners can trade without losing any real money if made multiple mistakes.

    It is also useful for experienced traders to try out their new strategies and skills so that they can make changes to it before using them on live trading.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  9. #8 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    The demo account is among the tools that trader uses to reach the markets, where the markets contain a lot of risks that lead to loss, and this is why people cannot work in the FOREX markets without learning and learning cannot be on real accounts. Here companies have created demo accounts that have the same characteristics Real accounts of the same price, financial leverage and the value of capital There are some conditions for correct trading on demo accounts so that the trader can benefit the most. It is necessary not to use a large contract stone and the size of the contract is equal to the amount of the contract in the real account that will be opened to work on the strategy and improve it and develop it until He is able to extract the strongest areas to enter and the best areas to set goals, stop loss, the trader needs a sufficient period of not less than six months, real trading on the demo account until he reaches the required success that contributes and helps the trader to work on real accounts safely without any problems.

    Regarding the importance of the demo account
    Free: You will not need to deposit any money or pay any fees when opening a demo account with the vast majority of FOREX, and even if you are not yet sure of the correct decision to switch to FOREX trading, the free feature is a wonderful thing that will make it easier for you to explore the whole matter.

    Trading training: Praise the free demo account, mastering trading skills, developing new strategies, and gaining some significant experience about currency trading. This is due to the fact that all currency pairs move in the same paths regardless of the type of account, while the only difference lies in the fact that the money invested his real or virtual.

    Charting tools for free: Even if you are not planning to trade with a specific broker, you can still open a demo account and use the charting tools provided by the trading platform. This feature will also be useful if you opened your demo account with a broker with multiple advantages, not including the competencies of the trading platform.

    Getting to know the broker platform: The demo account provides a distinct experience with the brokerage firms platform before moving to work with it on a real account. This feature is especially useful when working on electronic trading platforms.

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  10. #9 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Demo trading is significant for every trader. It is an essential task for newbie traders; meanwhile, currency trading is recently on several peoples thoughts. In frame, the aforementioned is adequate to the weariness that comes with the lack of social action. A demo account assumes a live trading environment where the trader can trade with virtual (not real) currency. Nevertheless, once you begin trading with real cash, you dont lose your way to the demo account. On the contrary, it empowers traders to familiarize themselves with the market and analyze future trades.


    On the other hand, a trader also looks for alternative techniques of earning money. The pandemic has moved the focus on the online scene and online businesses. Given this, the number and value of regular forex trades have overgrown in the past couple of months, but it is good to demo your trades before investment. It is accurate what demo accounts contribute to new traders, the possibility of training without endangering anything. For example, a recent marketing student who needs to open their own business wont have the possibility of doing a test run. They will acquire from their mistakes, but those mistakes will require them real money. As mentioned above, a demo account could be practiced as a probing run for your future trades. Hence, the method can also generate strategies that you necessitate to refer to your live trading account.


    Considering demo accounts use the same market data as the live accounts (in most cases), there will be slight to no differentiation between the trade you make on your demo account and the trade you make live. Therefore, trading with virtual currency signifies no actual losses. Nevertheless, as a trader, youll feel low-spirited even when spending that type of currency. Forex demo accounts are the account which began so many people to the currency trading world. Some brokers even allow traders to convert a percentage of their virtual currency to a live one if they manage to win many trades. Demo accounts aid you in anticipating and maintaining your sentiments for real, live trading. Youll get used to obtaining substantial amounts of money as well as losing nearly everything you ought to.

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  11. #10 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Yes friends have asked a very good question why demo is needed friends if you guys want to do good trading Want to become an expert raider by trading well in forex trading If you want to get better experience then you need demo account. That's why demo account is very important If you want to be a good trader then you should practice on demo account on daily basis. Make the most of the demo account The more you practice on the demo, your experience will increase, your knowledge will increase. You will be able to achieve success in forex trading by following the market trend by understanding the movement of the market and doing good trading. So never ignore the demo account, practice on the demo account on a daily basis.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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