What Is Forex Demo Account? Understanding How Forex Practice Account Works
The forex market is becoming more and more popular. This is because it is one of the fastest ways to get rich (also the fastest way to get broke if you are not careful). The internet has made Forex trading far more popular than it used to be in the past when trading was limited only to big corporations and banks.
The popularity of the Forex trading market also means there are many who have little or no experience but want to leverage of the power of the Forex market to make some money. This is why almost all Forex coach will advise new Forex traders to start trading with a Forex demo account or Forex practice account.
What Is Forex Demo Account?
A Forex demo account or Forex practice account is a Forex trading accounts that allows you to trade with "unreal" money. This type of account allows you to test your trading skills or strategies without any risk whatsoever.
After you have read so many Forex trading books, attended seminars and workshops, it is better applying what you have learnt using a Forex practice account. It lets you feel how it is like trading with real money in the Forex market but this time with risk.
Trading with a demo account is the bes way to get started as a new trader but don't get stuck in it. No matter how hard you try, you cannot move up to the next level of trading until you learn how to risk real money. That is exactly what the Forex market is all about. The key to succeeding as a Forex trader is to open a live account after a period of demo trading and start out slowly.
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