Important Features of Forex Demo Accounts
What are the Important Features of Forex Demo Accounts ? you can learn and start to earn with demo forex account, but there is some pitfalls. all other articles about What is Forex.
Forex demo accounts is one of the most important service that you can get from forex broker companies. With these accounts, you can make practice without any risk also without any real money. It is really easy to trade on forex market successfully with all these experience. On the other hand, It is not easy everytime to decide which forex demo account is correct for you. Here is the some features that you should check before deciding your demo account:
1- Real Data : You should be able to access trading platform; You have to be sure that can really access to real platform datas with this practice account. not just unreal images or imagine datas, you must see that dollar going up or down, same time you can see that results at news on television.
2-Virtual Money: Virtual money stands for a free money. You will trade with virtual money in your practice account. If you wish to make more practice you may need more virtual money on your account. It is provided by the forex brokers. Never pay real moneys for demo forex account.
3-Practive Trading: Being able to practice trading; In demo accounts, practice trading is one of the most important feature. In this case, be sure that your forex demo account is using a real platform for trading.
4-When to Going live: You may want to move on after being successful on practice trading. But never get deceived and never get forced by forex employees. You will start when you want to start. You can see time limit in demo forex account. if you see that never go in a trap, just run away. There is too many other forex companies out there. there must no time expiration for forex demo account, this not a foodstuffs, this is just computer, demo never expires.
5-Margin Trading option: It is really important to be able to make practice trade on margin with your demo account. You may gain more experience and be ready faster for the real trade.
6- Customer Service: You have to be sure that you will get the best customer service in any case of problems. This can be real pitfall, some forex companies looks like they care for customer, till the day they get the money. Then that care ratio goes lower.
7-Trading Interface feature: For forex tradings, it is better to have a similiar interface with the real platform . In this case you can easily manage your trades.
8-Real Rates: Being able to see real rates; You may want to see real time rates on your demo account. By like this, you can create your own strategy and the market makes sense for you. Don’t forget it is important to feel like you are really trading on the market.
9-Tutorial Option: Text or video formatted tutorials can be really useful for your forex knowledge. In this point, you should check your demo account that if it offers tutorials or not. Big forex companies always give you good and detailed tutorial files and videos. not just full of crap, understandable by any people who don`t have any knowledge of forex.
10-Real Resource: Being able to access brokers resources; One of the most useful feature of a demo account is being able to access to your brokers information resources.
11- Entering Order: Making practice for entering orders; Before opening a demo account, you should be sure that you are able to make entering order practices on your account. It is one of the most educational feature of an account.
You can find other detailed page in our web site about that demo forex accounts to forex beginners , and you can find some exapmle company web links.