If you are thinking about starting to invest in trading currencies, a great way to get practice is to open a forex demo account so that you can practice with virtual money before putting your hard earned money on the line. Many companies offer forex demo accounts and you can open one in a matter of minutes. Learn how to choose and open a forex demo account so you can start trading today.
Consider How Much You Get in a Forex Demo Account
One of the first things to look at if how much virtual money you get when you open your forex demo account. It can range between about 10,000 to 100,000, with most forex demo accounts giving around 50,000. The more money you are given in your forex demo account, the more money you will have to play with in most forex demo accounts.
The Fine Print When Choosing A Forex Demo Account
The second thing you want to look at when choosing a forex demo account is to find print. Find out if you have to give them credit card info up front and if it automatically renews. Find out how much it costs once the trial period ends and how much you are charged. Finally, when you open a forex demo account make sure that there are no hidden fees associated with the site.
Connection to the Brokerage When Opening a Forex Demo Account
The last thing to look for when opening a forex demo account is what brokerage is offering it and if you are comfortable with that brokerage. You should only open a forex demo account with a brokerage firm who you think you would use and offers the futures trading platform you prefer.
Sign Up for Your Forex Demo Account
The last step is simple – go to the website and sign up. The you can start practicing using your forex demo account.
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Just starting to learn about Forex Trading. Im convinced a demo account is a absolute must have. Thanks for a great resource.