A demo account is a must-have for learning to trade. It is needed to get the first trading experience, to get acquainted with trading instruments. It also has the ability to test new systems or trading methods without loss.
joeyallen posted: I have a few demo accounts with my broker, a demo account for me is essential, this is my first rule of thumb, before I place any trades, once I get a signal from either my daily chart or 4hr, I open a small position on my demo account first to test if I am wright or wrong, I watch the market if the test makes money I place my trades, that is how I use a demo account. I am a position trader always looking for medium trends. 😎
Right decision. On the other hand, demo account helps you to test brokers’ quality.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
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