Practice forex trading in a simulated real world environment with a no-risk forex demo account.
In order to become a successful forex trader/warrior without paying an unduly high price, it undeniably helps to train under real market conditions. While “paper trading” cannot fully prepare you for the emotional experience of having actual money riding on your trading calls, it certainly provides good practice working with the same platform interface to the forex markets you will be working with when trading with actual money.
You can observe foreign currency rates fluctuating in real time while you learn to assimilate the information from changing graphs and charts. Understand what volatile markets feel like from a virtual cockpit. Experiment with leverage to learn the risk and reward consequences of different levels, and examine your conform level.
Veteran and novice traders alike can easily understand the value of testing their strategies and expert advisory systems (EAs) under near-real conditions before risking capital based on the systems’ calls.
Note: Besides the above-mentioned emotional charge which appears when real funds are at risk, the reported simulated trades executed using a demo account will differ somewhat versus an equivalent trade of an actual contract. Simulated trades do not impact the market, while real trades do. The execution latency, or slippage – the time between clicking on the buy or sell button and trade execution – tends to be higher during real trading. Once you have become comfortable trading a demo account, we advise new traders to start actual trading risking only small amounts of capital.
SpartanFX MT4 platform. MT4 is by far the most widely used platform for foreign exchange contract trading. Download the SpartanFX MT4 setup program from here.
After installing SpartanFX MT4 in Windows, go to Start Menu / Programs / SpartanFX MT4 / terminal.exe. Close the popup window that opens, then click on File / Open an Account, and follow the directions of the account-open wizard from there. This will create a demo account. (Converting this to a live account requires intervention by SpartanFX.)