As I know, the best demo account 2019 is mainly for account holders to practice and test their trade in forex market by using their virtual money instead of real money. A trading simulated environment is created to help the potential customers get acquainted to trading conditions and experience in forex world by most forex brokers. Because the forex market changed a lot, various price will be available on their own trading platforms in term of each policy by each brokers.
The fact that each trading platform is totally exclusive and has their own strengths and weaknesses. The main purpose of demo account is to allow their potential clients to get used to trading and performance of each trading platform functions. The customers will feel assured and don’t worry about taking risk of using real money in learning the “ins” and “outs”.
If you are a new trader, demo account will be a good tool to test and practice the best forex brokers BRKV trading platform. You’re able to take use of your virtual money to trade and test your trading strategies without any risks. Also, you can discover all of the popular trading features. Some of them can be listed here: set up alerts and create stop-loss orders. After a few months of testing demo accounts, it’s wise to take your time to evaluate how intuitive your controls feel, how easy it is to understand of the charts and statistics when you browse, how well you can drill down to sort out useful information to make your trade better.
Besides, a demo account will upgrade your knowledge of the trading in real forex and help you test several strategies. More importantly, you can easily learn and follow your trading style – for example, you can practice your longer-term position holds or your own strategies with comfort and without risks.
The advantages of demo accounts are so impressive, undeniable and very suitable for new traders, but several experts suppose this account is not enough to become a trading wizard. In a volatile world of forex and market fluctuation, the backward analysis can turn into a wide gap in your strategies because you can’t keep pace with the fast changes of Forex.
One more thing, you’re trading with the virtual money, your feeling of investment is negatively affected and you won’t be emotional. You will not know the feeling of losing real money and pains in loss. Sometimes, you think it’s like playing a game and don’t put all your efforts in demo accounts, so, you should have a serious thought of demo account like a real account. It’s not a game for fun.
In a demo account, it’s a perfectly- simulated environment created by brokers, so some complex and risky cases are hidden and are not put in real accounts. With a real account, you can come up to unrealistic expectations that lead to disappointment or financial disaster because. Please keep it in your mind. For this reason, I strongly advise you should begin with a micro account after using demo account for a few months. Gradually, you can invest a small amount of money to the best of your ability until you are mature to have a good idea of what really works.
It’s wise and fast to learn and practice your forex trading platform at the first stage. It’s a good step on your long path of forex trading. When you do that, your trading style can be determined. In addition, your brokers will give you instruction and support to be gained the best experience.
But this type of account is not perfect at all, you should trade with care. A demo account alone sometimes doesn’t get an exact match in real-trading world. So, it’s wiser to get started with the right platform after using a demo account – a micro account is a recommendation. You can avoid risk of trading and get more experience as a newbie.
From my many years of trading with a lot of brokers, I strongly recommend you to trade with one of the top 4 forex brokers with the best demo account as follows:
- Exness account
- Hotforex account
- XM account
- FXTM account