Before you open and trade in the Forex real account, you have to pass in the demo account first. The Foreign exchange trader must know several basic method in the demo account. Learning on a demo account lets the Forex trader to learn the basic of technical analysis and fundamental trading also to determine the good trading system on the Forex market. During the demo account, forex trader will familiar with the trading software or trading platform like metatrader. Demo account is not just rookie traders, demo account also traded by experienced Forex traders to learn and back test the trading systems. Real trading account with real money only after the demo account, which can take several months or even years, the forex trader must know the strategy of many instruments.
Things that must be considered for Forex trading
- spread or transaction cost
- leverage
- hedging and scalping facilities
- the minimum size of trading
- Fees like rollover or swap
- the margin requirement
- call margin level
Things that must be considered for trading platform
- order types
- trading history records
- open trading position
- support and resistance lines
- technical forex trading indicators
- Chart types
During the demo account, the Foreign exchange trader can also review the broker's quality such customer service, trading support and etc. Demo account has the same situations as a real trading account, but you have to check the trading speed between demo account and the real account. Trading on the demo account, we do not feel the fear because we are using virtual money for trade, there is no a psychological effect. That is way the change from demo to real account must be start with mini account. We can collect the confidence before trading with big money.
Things that must be considered for Forex trading
- spread or transaction cost
- leverage
- hedging and scalping facilities
- the minimum size of trading
- Fees like rollover or swap
- the margin requirement
- call margin level
Things that must be considered for trading platform
- order types
- trading history records
- open trading position
- support and resistance lines
- technical forex trading indicators
- Chart types
During the demo account, the Foreign exchange trader can also review the broker's quality such customer service, trading support and etc. Demo account has the same situations as a real trading account, but you have to check the trading speed between demo account and the real account. Trading on the demo account, we do not feel the fear because we are using virtual money for trade, there is no a psychological effect. That is way the change from demo to real account must be start with mini account. We can collect the confidence before trading with big money.
