The spot forex market was opened to retail investors in 1997. Since then it has become immensely popular with a large number of traders/investors all over the world. The retail forex trade is carried out via numerous forex trading platforms offered by forex brokers.
Each of these forex platforms is designed to focus on different types of traders. You can explore this link if you are looking for more information about the Forex Demo Account.
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Some are made specifically for high net worth clients who require a lot of liquidity; others are designed for technical traders who need the latest charting tools while some are designed for scalpers who require fast execution.
So how do you know which of these platforms are perfect for your trading needs? Enter the forex demo account. It is the safest and fastest way to see if a particular trading platform suits your trading style.
Today we shall discuss the main reasons why you should always trade a forex demo account before trading live with your own money.
Examine your broker's platform
Since there is no real difference between your broker's forex demo and live trading platforms, you can use the demo to acquaint your self thoroughly with your broker's trading platform. Demo trading will let you discover how to open/close trades, how to manage leverage etc.