When to Open Demo Account

Hello everyone
I just started learing forex and I’m getting to Kindergarten Grade :slight_smile:
I just wanted to know after which grade I should open a Demo Account on a Forex Broker to see whats going on?
and Which Type of broker should I join?
Should I open it now?

I would also like to know when a good time for me to begin a Demo account would be as well

Hi, and welcome to the forum.

I think these two short, recent threads will help you both …

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http://forums.babypips.com/newbie-island/82488-how-much-studying-should-i-do-before-practising-demo-account.html[/B]

Thanks Lexys!

Perhaps you should open a Demo account when you have some knowledge base and you want to test it. The demo account will help you develop this base and build your further experience and strategy. Once you have a bit more experience, you could open several more demo accounts with different brokers so you can test their conditions, executions, etc. and choose the one that will be most convenient for you. Try to find a regulated broker, if possible not a market maker because these guys don’t have good reputation and usually trade against their clients. Good luck! :slight_smile:

When you start learning you will learn at which time you need to have demo account for practicing your lesson. And for which broker, you should use your mind while you are learning, learning teach a lot in Forex.

IMO when you are interested in the forex market and have already started with the learning it won’t harm you if you open a demo account at any time (it is demo after all, no real money at risk).
When you have one (or why not more) demo account you could understand the things you read much easier. For example, in Kindergarten Lessons you have “Types of Charts” so for sure it will make more sense when you can visualize things and that is valid for everything else you read about financial markets.
Anyway, the topic is well discussed in the threads lexys posted (as always :stuck_out_tongue: )

Demo account will need it to learn from the very beginning because Forex can not be read-only, but you need to practice through demo account