Demo Account

Beginner Questions
1

I am new to trading forex and need a demo account to practise. Which demo should I opt for and why?

2

Hi SMN70,
You could try with the different platforms to see which you feel more at ease with. I use Alpari UK with Metatrader. I use FXCM with Marketscope. And someone of our friends will know of any broker which uses Ninja.
Let´s try with the different platforms and see. Later when you open your live account, you will worry about market makers or ECN…

3

Thanks luistercer0!

4

Ninja and Tradestation are expensive while MT4 is free, correct? Though charting capabilities must be far superior than MT4, to me it doesn’t seem practical to spend the extra money without experience.

Cost of Tradestation:
$25 a month with 10 live round trip trades
$125 a month using simulation or not having 10 live round trip trades

Cost of Ninja Trader: Purchase:
$995 for a 1 broker Lifetime License (option most will choose)
$1495 for Multi Broker Lifetime License

Cost of Ninja Trader-Lease:
$60 a month ($180 total – 3 month lease)
$55 a month ($330 total – 6 month lease)
$50 a month ($600 total – 1 year lease)

You can try Ninja free with canned data feed I believe.
I got the above information from wanderingtrader.com(no affiliation)

5

Thanks for ur info bro. Surely, this information help me a lot :slight_smile:

6

Thanks dcny:)

7

I assume you want to learn about technical analysis?
for someone new, it’s practical to demo using those free platforms, particularly Metatrader, and perhaps a few others.
you can decide to use Metatrader or MT4 for charting purposes only. you do not necessarily need to place your trades off it.

8

interesting, dcny…

I haven’t really explored these, but I believe you can get them for free, somehow.