The best demo account 2019 is regarded as a type of account which is widely popular with account holders to test and discover their trade in forex market by trading with the virtual money instead of using real money. The customers will have chances to get familiar with the simulated trading conditions and environments created by most of the forex brokers in forex world. Due to each policy issued by different brokers and the changes in forex market, a lot of price will be applied on their own trading platforms.
Each trading platform has a different feature comparing to another and has their own strengths and weaknesses, so several demo accounts can be proprietary. With this kind of account, it’s typical of letting their potential clients get into the swing of the operations and performance of each trading platform functions. Brokers will help their customers to avoid taking risk of losing real money in learning the “ins” & “outs” and other financial issues.
As a trader, it’s nearly compulsory to work with a demo account to test the best forex brokers BRKV trading platform. Of course, you can use your virtual money to trade and test your trading strategies without any risks or worries. One more thing, a demo account helps you to experience all of the popular trading features, such as: set up alerts and create stop-loss orders. After a few months of practicing demo accounts, it’s advised to just take your time to evaluate how intuitive your controls feel, how easy it is to be aware of the charts and statistics shown, how well you can drill down to select right information for your trading.
In addition, it’s easy to simulate the trading in real forex environment and help you test several strategies with a demo account. Not finally, you can learn and practice your trading style – for example, you can practice your longer-term position holds or your own strategies without any loss.
From above-mentioned points, we can obviously recognize the advantages of demo accounts, but according to many trading experts, this kind of account isn’t able to turn into a trading wizard. They explain that because of the forex fluctuation, the backward analysis can become a barrier in your strategies because you can’t keep pace with the latest trading changes.
A disadvantage can come up with when you lose your motivation and emotion of investment because you feel so safe in trading with the virtual money. Losing real money won’t exist in your mind and you don’t think of it. As a result, it’s easy to become a victim in the forex market like playing a game, so, it’s better to be careful with demo account like a real account.
Many unrealistic expectations can happen in real account but never happen in demo account. This that leads to disappointment or financial disaster. Please keep this in mind. To avoid this, it’s advised to get started with a micro account after using demo account for a few months. You can invest a small amount of money until you have a nice idea of what really works well.
It’s procedural and logical to use demo account to learn and discover your forex trading platforms. It makes you more confident in conquering the forex trading world. Also, your trading style can be shaped if you have a wise strategy. Your brokers will give you instruction and support to be gained the best experience. But remember that a demo account should be taken into serious consideration. Obviously, a demo account alone doesn’t get an exact match in real-world trading. It’s much better to get started with the right platform after using a demo account – a micro account will be a reliable recommendation. You will earn and learn more without risks.
Finally, I will come to my conclusion to list the top 4 forex brokers with the best demo account:
- Exness account
- Hotforex account
- XM account
- FXTM account
I expect that one of them can become a successful companion on your forex path.