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Learning to Trade the Forex Market Essential Elements of a Successful Trader How to Read a Chart & Act Effectively 45 Ways to Avoid Losing Money Trading Forex Transition from Demo Trading to Real Money Trading Beware of Fraud at Forex Seminars About Forex Demo Accounts About Forex Micro Accounts |
About Forex Demo AccountsNearly all foreign currency brokers that offer online trade execution offer free demonstration accounts so that you can "test drive" their trading platforms. Even if you extensively use one trading platform on a demo basis for learning purposes with no money at risk, it is useful to give others a try prior to finalizing a decision to start trading any significant amount of real money. Although demo accounts attempt to replicate real markets, they operate in a simulated market environment. When online trading platforms first became available via the Internet in the late 1990s, there was a very significant gap between simulated trade execution via demo accounts and real account trade execution. For some online trading platforms, this gap has narrowed considerably but has not entirely disappeared. There are still key differences that distinguish demo account systems from real accounts. This includes, but is not limited to, the lack of dependence of demo systems on real-time market liquidity and the availability of some products which may not be tradable on live accounts. The operational capabilities when executing orders in a demo environment may result in atypically expedited transactions; a lack of rejected orders; and/or the absence of slippage. Additionally, updates to demo accounts may not coincide with those of real accounts. Forex TRC strongly recommends extensively using a demo account, with no real money involved, to practice and test the skills you develop to prove to yourself whether you can make money or not before putting your money at risk. One trading platform that you should consider trying out is offered by Forex Capital Markets (FXCM), a New York-based company founded in 1999. FXCM became a public company in 2010 listed on the New York Stock Exchange (NYSE ticker symbol FXCM). FXCM now has offices, partners, and affiliates in the major financial centers of the world. To open a free demo account with FXCM, click here. We also recommend test driving the demo system of Citi - CitiFX Pro. Please note that unlike FXCM, Citi does not offer micro trading accounts.
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