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forex trading demo shows you how it works

forex trading demo shows you how it works before you jump into it for real

Forex-TrendySooner than airplane pilots in reality fly on their own, they usually practice in simulators that re-create what flying will be like without any real risk. While foreign money trading is while risky financially while flying is physically, it makes sense that there would be a forex trading demo available, too.

A forex trading demo is a smart way for a new investor to start. Reading books and taking online courses can teach you the basics, but the best way to learn anything is to find various hands-on experience. However, with forex trading, hands-on experience could mean losing your shirt. So a demo gives you real-world training with no actual money being involved.

Typically, the demonstration comes courtesy of a brokerage or other financial Web site that has an interest in currying your favor. The plan is that once you’ve tested your skills in the demo, you’ll get into the real thing and take advantage of the paid services the demo provider has to offer — forex trading signals, managed accounts, automated trading, etc. The demo is like a free sample, offered in the hopes that you’ll enjoy it so much that you buy something, too.

For that reason, be should be highly suspicious of any Web site that wants to charge for a demo. Considering there are literally dozens of sites that offer free demonstrations, there is absolutely no reason that you should pay for it.

When you sign up for a forex trading demo, you’re given a username and password and shown the best way to use the demo system. Sometimes it involves downloading a piece of software unique to the company; other times it’s simply done over the Internet. (Several demos require Macromedia Flash, which generally browsers have installed, but which you’ll need the latest version of.) You determine how much imaginary money you want to start with, and off you go!

Once you’re signed in to the forex trading demo, you do all the things you would do if it were a real-world situation: reading the charts, following the trends, visiting online forums to find other traders’ opinions, and making trades. The trades are recorded in the forex trading demo only and don’t go anywhere into the actual market while there’s no real money involved. When the market changes, the program determines how much you’d have gained or lost based on the decisions you made. You’re able to say, “Whew! Good thing this was only for practice!” or “Too bad this wasn’t real!” And once you’ve gained various expertise using the forex trading demo, you can move on to the real thing and start making several money for real.

See for more details:- Forex trading