Demo Trading In Forex

What about Demo Trading?

Many forex trading sites offer demo trading to get you started.

There is nothing wrong with this. The intention is to give you a chance to get to know how the site works. Every trading site has some symbols and indicators that are special to the site itself, and each site has a few idiosyncrasies, so working on the demo site for a bit helps you to get the basics down.

The Best Forex Brokers + Trading Platforms

Broker	Our Rating	Description	Minimum Deposit	Regulation	Visit
AVATrade	4.5	Trusted, regulated broker with 10 yrs experience Multi award winning company Segregated accounts with leading banks	$100	Central Bank of	Visit Broker AVATrade Review T1 ROTW
FBS Markets.	4	Split second execution No requotes Range of accounts	$5	IFSC	Visit Broker FBS Markets. Review ROTW
XM Group	4.5	Free forex signals + market research Online education and webinars Fee free withdrawals and deposits	$5	CySEC, FSP, ASIC	Visit Broker XM Group Review ROTW
IQOption	5		10	IQ Option is a	Visit Broker IQOption Review
HF Markets Ltd. (HotForex)	3.5	8 Trading Platforms Spreads from 0.1 Pips $0 fees on deposits	$5	FSC & CySEC	Visit Broker HF Markets Ltd. (HotForex) Review ROTW
Plus500	4	No commissions and low spreads Advanced trading tools Minimal account fees	€100	FCA, CySec :	Visit Broker Plus500 Review T1 ROTW
Easy Markets	4.5	Free Guaranteed Stop Loss Segregated funds at top tier banks Fixed spreads & negative balance protection	$100	ASIC, CySEC	Visit Broker Easy Markets Review T1 ROTW
Markets.com	4.5	Tight spreads without commissions Advanced charting tools	$100	CySec, MiFID, FSA	Visit Broker Markets.com Review T1 ROTW
FXPrimus	3	Trusted by 100,000s of traders Fully licensed in the EU by CySec Tight spreads and fast withdrawals	$100	FSC Mauritius	Visit Broker FXPrimus Review ROTW
InstaForex	3.5	'Asia's top broker' Wide choice of leverage options	$1	RAFMM, The Federal	Visit Broker InstaForex Review ROTW
OLYMP TRADE	4		10		Visit Broker OLYMP TRADE Review

Broker rankings last updated 08/08/2022 10:05

You should, however, be careful to not assume that trading on the demo site is in any way practice for trading with your own money. Why not? It is simply too easy to make dangerous decisions with symbolic money on a demo site that you would not (or, at least, should not) dare to make when trading with your own funds.

On a demo site, you just let a trade hang in there until it goes bad. You wouldn’t take such a risk if you knew it might cost you a great deal of cash. 

Doing symbolic trading induces bad habits, and takes the emotional edge off trading. Don’t make the mistake of using it instead of the real thing. Real forex trading is very tough, and it’s just not the same when there is no risk.