Free Forex demo account registration

When it comes to learning any new skill there are three basic approaches. One is to study and memorize the theoretical part. It works well in some cases such as mathematics - if you know the rules you can solve the problem. Another approach is practice. This will come in handy in more hands on skills such as cooking or building furniture. The third approach is the most universal one - it is a combination of the two. In those situations when simply knowing is not enough and you have to spend a certain amount of time perfecting your efficiency.

Trading is one of the examples where the third approach is not just recommended, it is necessary. With the first part of the method - the learning, everything is pretty straightforward. All you have to do is gather a bunch of reading materials and find a reliable trading blog to walk you through the initiation process. However, when it comes to practicing this knowledge it might get a little tricky. First thing that comes to mind is to start trading with small amounts. And while it is a solid option, it is still not the ideal way to go. Because trading with real money, no matter how small, involves risk of losing and that can make the learning process not fun at all. Not to mention, there is not enough room for mistakes when you are using actual funds. Making mistakes is crucial to the learning process in the first stages and it is simply not wise to deprive yourself of that ability. So what is there left to do if you wish to practice the acquired knowledge, but do not like the idea of risking your money? The answer is quite simple: open a demo account.

How to create a demo account for Forex trading

Let’s start by clearing out the definition of a demo account when it comes to Forex trading. Just like the actual trading account the demo version includes most instruments used during trades. It looks and feels just like the real thing, even the market prices for the currencies are live, but with one small correction - the money is virtual. Of course it is not a reason not to get excited about your first positive results. Even though you did not make real profit, you still gained priceless experience and, most importantly, practised a brand new skill.

So, how to create a demo account for Forex trading and start your journey to successful currency trading? The very first thing to do is to open Forex account. Your demo account will be connected with your main account so this has to be done right away. Next step is the registration that is very simple to follow as all the instructions are clearly listed on the screen. Do not worry though, even if you do get confused the broker giving you access to the account will assist you when needed. That’s it! You are now ready to start practicing currency trading and it will not be long until you get out on the real market.

Best place to create a Forex demo account

In case you do not have a broker yet that is one thing you need to get before starting to trade on your demo account. Brokers are people and companies who give their clients access to the trading platform. And the best place to create a Forex demo account is with the trustworthy broker, not to mention the only place.

Now that you have it all set up it is time to get your hands virtually dirty by getting to know the program. After opening the demo view start by getting to know all the presented keys and windows. Make sure to go through every drop down window and setting in order to remember where they are. Spend some time observing the chart formation to get used to the way it looks. It might seem like a lot at the beginning, but the best thing about it is that the market is changing but the trading platform stays relatively the same. So once you master it, the skill will serve you for years to come.

As you got familiar with the look of the system you can start placing your first orders and watch them play out. Just like you would in real trading start by going with small amounts, gradually increasing your bids. This will give you a good understanding of how the invested amount can develop into something larger or completely evaporate. It is also a good idea to learn how to create Forex trading signal on demo. Trading signals are suggestions for entering a trade on every specific currency pair and can be used by both new and experienced traders.

Have fun and remember that although there is no glory in practice, but without practice there is no glory.

I am a software engineer in Spy-FX company. We have more than a ten years of experience in forex trading software.