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Most Forex brokers would allow their customers to experience what forex trading is like by offering them to play with fake money on Forex demo accounts. As the majority of people who get interested in forex are willing to make fast profits in this huge market, a demo account is the best way to see if their wishes and expectations about Forex market are realistic. On a demo account a trader is given a certain amount of 'play money' that he can trade with under real market conditions.
Let us look at the advantages of trading on a Forex demo account:
1. It helps you to decide which platform and broker you are most comfortable with. Some Forex trading platforms are very simple, others are more complex, yet others are very difficult to use. I remember once calling a Forex broker about closing one of my orders on a Forex demo account and a person from the support team could not help me. He had to search for help himself and call me back later. Most Forex brokers include lots of useful features on their trading platforms such as: live news, technical indicators, daily market commentary, even rumors about some big banks buying some big positions in a specific currency pairs. Some brokers allow you to trade only standard lots, others offer you mini lots and there are those that can allow you to trade micro lots or even separate units (buy or sell one dollar in the marketview
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