Psychology of change from a demo-account to a real-account
When this period ends you can open another demo-account or switch to a real-account.įrom a psychological point of views, it is much easier to trade on a demo-account, because there is no stressing inherent to the real-money trading. Lite Forex company it is enough just to go to the site and download a special program for trading - trading terminal - in which a demo account will be opened without linking to the website account.
Nowadays Internet is full of brokers offering to trade on their demo-accounts without passing any registration, but it is for a maximum period of thirty days. According to the professional traders, it is better to spend 1-3 months practicing on a demo-account before starting to work on a real-account. All services and functions provided by a demo-account are identical to services and functions of a real-account.ĭemo-account – is a real breakthrough for any beginner.
Aside from that, such type of trading – is an excellent possibility to find out how to sense a trend, open and close transactions at the proper time and obtain skills of building support and resistance lines.Īs for the technical aspects and characteristics – there is no any difference between a demonstration account and a real one. Trading on a demo-account, beginners have a great opportunity to develop their own trading strategies and learn how to get large virtual profits. Demo-account – the best choice for a beginner Forex demo-account – is the best and free-of-charge option for any trader to get familiar with all the traps and pitfalls of the Forex market, as well as to practice on using various trading strategies and evaluate the quality of a broker’s services. It won’t take you too much time and all you will have to do is indicate your personal data, phone number and e-mail address.ĭemo-account is useful solution not only for beginners, but for professional traders who wish to test their new strategies at minimal risks for their funds. Most typically, demonstration trading becomes available only after the registration on a broker’s web-site, as for example inįorex4you company. Trade on a demo-account is the most suited way for beginners, because it gives a possibility to puzzle out the functionality of a certain trading terminal and learn how to open and close trading orders without worrying about any risk to lose real money.ĭemo-account without registration –is a very rare thing on the Forex market. The word “demo” is short for “demonstration”. Demo-account – is a virtual trading account.