There is a widely accepted opinion that is a quite big part of the forex exchangers do not actually know how trading forex online works. And even if there is one who actually knows what to do and understands the essentials of the way currencies work, there is still a need of putting the things that they know through some practice so that they can actually remember. Out of all the currently available methods of practicing that I have tried out, there is none that can bring me the comfort that a risk-free environment can.
After carefully applying that sentiment, we did quite an extensive research process and finally were able to make up a list detailing the very best dealer for forex traders that can also give them a big and reliable risk-free environment. The best forex brokers 2019 that we have found out will surely be able to satisfy your need, as they all offer the access to something we call forex demo account.
After spending only a few short minutes, you will then have for yourself a completely free forex demo account that is also entirely risk-free. With this account, you will be able to freely test out all the theories you have. After all, with this account, you will be allowed to place all the trades you want in a trading environment that is as real as it can get. Of course, as this account is pure demo, you will not be allowed to use any type of real currency. The dealers will give you some credits that are not worth anything outside of the environment to start your trades. Hence, you cannot in any way pull back the profits that you made using this type of account.
You must be guessing why is it that so many people are using this type of account, right? The answer is simply the fact that you will be able to quickly get used to the world of forex exchange without having to lose too much.
The most basic parts of the demo accounts
This type of account is, for the most part, just like a normal account for forex trading. However, there are still differences between them and the actual ones. One of the most recognizable is the fact that the demos cannot function as the actual ones. You can actually win a big exchange or lose a huge chunk, no one cares, as the result can never affect the money resting in the card that you have attached to your account. This is due to the fact that the accounts were all created with one single purpose: to help with the process of getting used to the exchange world as soon as they can.
When they use the best forex demo account, these users will have access to some true data with some attached elements like:
- Understand the mechanism of forex trading
- The real data and transition and the live speed and pace at which changes occur
- Never lose/gain anything from the demo trading
- Understand the forex strategies.
What are the features of demo trade accounts?
As we all know, for people to be using the account type, there should be some kind of incentives. Or else they would just stick with the same old regular accounts. Thus, I would like to introduce you to some of the remarkable features of the demo accounts like:
- Buying & selling prices at real live values
- Bulk virtual money credited in demo account
- Trading online throughout 24 hours and 5 days for the week.
As you must have known, all the demo accounts usually have all the available features and also the abilities of the true forex exchange markets. However, as they still are doing business in a wholly simulated environment. Thus, there will actually be some major differences from what we are used to working with when we were using the normal ones.
Of course, this can also serve as a brilliant way for them to cut off their dependence on this world’s true trading world. That’s not all, as there are also products that can only be exchanged in the demo world.
To end things off, here are the best of my personal list of brokers:
- Exness accounts
- Hotforex accounts
- XM accounts
- FBS accounts