Abstract：Not all forex traders in the market are sophisticated. Many inexperienced traders and newbies are more likely to lose money when they trade forex. Therefore, demo accounts are important for people to practice before proceeding to real forex trading.
About forex Demo Account
As more and more forex brokers in todays forex markets offer demo accounts, trading with a forex demo account is a good way to evaluate a forex broker without making a deposit. It also can assist you in learning how to trade forex profitably without worrying about the loss.
Read on to view my selected shortlist of the best Forex demo account brokers below, and tips on how to pick the best demo account and get the most out of it.
FOREX.com WikiFX Score 9.35
FOREX.com offers excellent Forex Demo Account for all traders, including Professional Traders. FOREX.com is an advocate of the best trading robots and EAs, so this is a good platform to try out a new automated system. Forex.coms automatic trading system is relatively mature. It is a good platform for traders to try out a new automated system.
FXCM WikiFX Score 9.33
FXCM is an online forex broker providing forex demo accounts for spread betting.It‘s an ideal way to become acquainted with FXCM’s cutting-edge trading infrastructure. Demo trading accurately simulates live market conditions and is risk-free.
The advantage of FXCMs demo account:
Live buy&sell prices
£50,000 of virtual money
Trade online, 24-hours a day, 5 days a week
AvaTrade WikiFX Score 9.22
As a reputable forex and CFD trading platform, AvaTrade has the trading experience of over 12 years. It is a solid broker with regulation in 6 jurisdictions. You can download AvaTrades app on your mobile phone. Then you can trade with demo funds directly from the palm of your hands. You can also access your demo account online. AvaTrade offers its own native platform, as well as support for MT4/5.
FXTM WikiFX Score 8.86
FXTM is a global broker specializing in CFDs and FX and was established in 2011. The FXTM Demo account is risk-free and mimics their live traders accounts perfectly. The FXTM demo account can help you practice before you enter the real FXTM live account.
FP Markets WikiFX Score 8.49
FP Markets is a regulated broker with a high WikiFX score. It was established in 2005 and the company offers excellent free demo account. However, it is time-limited. Your demo account will only be available for 30 days once you set it up.
Nigerian businesses are dealing with a double blow as new naira notes are hard to come by and the old ones' expiration date approaches. Many firms have been pushed by the circumstance to choose electronic channels for transactional purposes in an effort to lessen the volume of obsolete notes coming from their clients.
Due to a gradual increase in demand for dollars, the naira, see a slight loss across market areas which made the Foreign Exchange (FX) market closed out the trading week on Friday.
XPro Markets is a South Africa-based broker. This broker claimed to offer clients a couple of financial instruments. It catches our attention because we recently received a complaint related to this broker. WikiFX has comprehensively reviewed XPro Markets from several perspectives.
In this update, analysis of the daily AUDJPY was made after the BOJ left the yield curve as is after last month’s shock adjustment. The market may have been looking for further moves last week, which might be why we observed heavy selling on the Japanese Yen.