What is demo account? How to open one?

You may be interested to forex trading. But you are not a skilled person. You have searched “Google” for some information. You got information about pips, leverage blah! Blah! But you are scared about starting forex trading. As you don’t know enough, there are more chances to loss. So, you don’t want to invest first. Don’t worry. But now, at the age of technology nothing is impossible. How is it possible?

Every broker house gives you a chance to trade by opening a demo account. You will not have to spend a single penny to trade. It is totally free. Your broker gives you a chance to in the forex market by using virtual money in the real market.

You may loss in the demo account or may crash the balance or can make $ 1000 profit. But it doesn’t matter. This is just because to increase your skill nothing else. Your skill will be developed as much as you trade. Once you satisfy yourself by your trading skill, you can start real trading.

Many people think that 2 months are enough for demo trading. But it has no time limit. By demo trading you will get the following profits:

► you can test different trading strategy

► you can mark the causes of your loss

► by demo trading you can know different tricks which are used in forex

► you can test the effect of news trading and different indicators

Demo trading helps you to develop your overall trading experience. To start demo trading or real trade you need a software. In forex language it is called “ Forex Terminal ”. You will have to download the trading terminal too. Open a demo account and then download the trading terminal. Open the trading terminal. Now follow these steps to open a demo account:

► Click File then Open an account.

► a new window will appear. Then fill it up. Then click next.

► then select demo account. Then click next.

Your demo account is ready. Save the account no. and password. Then start trading.