Demo Account Definition. A Demo Account is free forex practice account that allows beginners or veterans to practice forex trading strategies using virtual currency and real time market data to conduct trades and measure the profits on a hypothetical basis. Experience is one of the key factors for success in the forex market. Impatience and inexperience are the two factors cited in studies that cause a majority of beginners to fail in their trading aspirations. Successful traders have admitted in countless surveys that they spent anywhere from three to six months, to even one year or more, perfecting their trading style, gaining confidence in their disciplined approach to the market, and achieving a level of consistency they know they would need in order to risk their own capital in the market. Forex trading involves high risk. Brokers to not make money if you fail, so they have developed free demo accounts and extensive education courses and tutorials to prepare you for the intense, and frequently fickle, world of foreign exchange.
Forextraders' Broker of the Month
ForexTime (FXTM) is an award-winning platform that certainly has the feeling of being set up by people who know what they are doing. The firm demonstrates an understanding of what helps traders make better returns, and its success can be measured by the fact that it's doubled the number of clients it supports in recent years. The fact that the broker has grown to have more than two million accounts suggests it is getting things right for clients.
