Could you please tell me a free demo account so that i can practise forex strategies without credit card or paypal registered.
trading on a demo account is very good decision but we generally take demo as time passing and dont believe the importance of this trading place.
you can open a demo account at any broker , its a best place to use all trading strategies and high leverage to see the performance how it works.
i use this approach most of the time but honestly speaking the knowledge we took from demo not works in a real account , its very common game
there is no difference between live and demo , its all about psychology , nothing without it.
They offer demo accounts for you to practice and test out strategies, but they can only provide you wish some typical situations, which will not prepare you for all the scenarios. As a result, the trades that you make while on Demo Account should not be taken as real situations.
The most important thing in forex is trading psychology. A trader’s trading psychology also should match to his or her trading strategy. Most traders ignore this aspect but lose money because of this.
Most legitimate brokers will allow you to open one.
Shouldn’t have to pay for a demo account. Any decent broker should allow you to practice as long as you want.
Download MT4 and choose a good broker and your account is open after that.
Totally free of charge.
Obviously it’s about psychology. Getting positive results by placing bets on trade when virtual money is involved, and the results will have no real-life consequences, makes you confident in your trading strategies. Point here is, whether it’s good or bad for your bank account.
I don’t agree that there’s no difference. Of course there are execution differences when you trade with virtual money and real life money, and especially when the latter’s at stake.
Ok so let’s talk about spreads. So, you’ll be able to fill any volume of spreads in the demo and the position size won’t matter or make a difference.
Spreads and the position size in live trading will increase your trading costs, especially when there are less liquid securities and volatile environments. This I noticed when I shifted from demo to live on fxpro and fxview.
There are so many brokers that offer demo accounts. Consider your other requirements also and find a broker accordingly.