What Is a Forex Demo Account: Definition and How to Make

Maybe now you just know about forex (newbie), or you are in a position to learn forex trading. So, it's a good idea to get to know what a forex demo account is and know how to make this very useful and free demo account.

 What is a Forex Demo Account?
A demo account is a type of account provided by the majority of online forex brokers, where with this account traders (newbie / beginner) can trade forex online as in the real reality, but do not risk losing money or capital.

Traders can see price movements in the forex market on applications provided by brokers along with demo accounts. Plus, traders can also execute buy / sell or close trading positions (close), practice strategies and so on completely and thoroughly in accordance with actual market conditions. It's just that, to use a forex demo account, traders don't need to provide funds or capital.

On a demo account, the funds (balance) on a trading account are virtual funds (not real money) provided by the forex broker for free. Therefore, if it is profitable, the profit cannot be withdrawn. Conversely, if you lose, then you also do not really have to bear the loss. No need to be afraid; The broker will not charge you to compensate for losses incurred in the forex demo account.

Purpose of a Forex Demo Account

For beginner traders (newbie), forex demo accounts will provide a very real picture of online forex trading.
Forex demo accounts are useful for maturing skills in trading before a trader decides to use a real account, because at the same time practicing trading analysis and execution.
Beginner and experienced traders can use demo forex accounts to test trading systems freely, without the need to fear loss if they make a mistake.
For traders who are still exploring or looking for brokers, then they can register a forex demo account to see how a broker's technical performance (server, speed, etc.).

How to Create a Forex Demo Account
Generally, there are no special conditions for creating a forex demo account. You just need to register at the broker to open a demo account. Next, the broker will send an application download link (trading platform) along with ID details and passwords via your email. After you download, install, and log in to the application; then can immediately see price movements and practice forex trading.

Registration or application of the demo forex account is completely free. You can get it very easily and quickly (less than 10 minutes).

Forex demo account is a free facility that is very useful for traders to learn and practice online forex trading. Because it only uses virtual money (toys), there is no risk of material loss. However, the picture of online trading obtained by traders is probably not optimal, especially in terms of psychological and emotional. Trading pressure at the risk of real money will be very different compared to forex demo accounts only. 

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