Published On: Tue, Nov 27th, 2012

Forex Trading Demo Account

The very best way to learn forex trading isn’t to spend countless hours reading articles or YouTube videos, it is to get stuck in and trade with a forex trading demo account.  OK, of course it is important to learn about the various aspects of technical and fundamental analysis, trading psychology and to keep up to date on all the latest financial news. For a beginner though, there is nothing better than to get stuck in and experience trading in a real time environment.

Forex trading demo accounts provide the perfect opportunity to do this as they allow you to do everything someone with a fully funded account can, but without the risk of losing and money.

If a beginner jumps in at the deep end and funds their account with hundreds or thousands of dollars, it is highly likely they will end up losing it all.  Trading is far more complex than many people realise and it is important to fully understand everything an account offers, from charts to risk management tools and so on.

Another reason why it is important to use demo accounts is that you want to make sure the platform you are trading with is right for you.  There are lots of options out there and some are far superior to others.  It is advisable to register with two or three of the leading forex brokers on the market and spend a couple of days using each before deciding on which one to trade your hard earned cash with.

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About the Author

- Marcus Holland has been trading the financial markets since 2007 with a particular focus on soft commodities. He graduated in 2004 from the University of Plymouth with a BA (Hons) in Business and Finance.