Free Account Forex Trading

Free Account Forex Trading

Practical training and good understanding of the prices movements using technical & news indicators are considered the basics for training on any type of stock exchange trading, so we advise to open a demo account forex trading in any brokerage company for free & start training on it on condition that you spend not less than 6 months of practical training & there will be many positive factors that would help you to enter Forex & open a real account later.

There are many tools that could help you take the right decision during trading in Forex, we mention from them:

  • Technical Analysis
  • Financial News & News Channels
  • Live & Direct Recommendations
We should clarify here that as you can achieve imaginary profits at that market, Forex trading, you may also lose large amounts of money, so we strongly advise to be well armed by the necessary knowledge in that field & to have the enough data & good experience in trading to deal with that market in the right way on proper scientific base, thus we advise to start with a demo account before trading with real money.

To practice forex trading and gain proficiency in it is best to start with a demo account. Demo account also known as practice account forex trading enables the forex traders to first transact using paper money and then get on to the real money by trading live in the forex market.

Forex trading is perceived to be one of the most money-spinning markets and thus more and more people are getting fascinated by it. The reason is fear of losing money and suffering heavy losses. But, with the emergence of the concept of demo accounts, many people have become confident as now they can learn the art of trading in forex market and practice the learnt skills using paper credit on the forex demo account. These days, a large number of forex brokers offer demo account as a part of their forex trading system package.

Forex market is treated by many people as an online casino where there is high risk of losing money. Thus, they prefer to play safe and practice forex trading profitable on forex demo account till the time they acquire confidence in trying their luck in the real forex market. Once you are well aware of the different kinds of forex market technical indicators and also have a fairly good knowledge of investment concepts such as fundamental analysis and technical analysis, your chances of succeeding in forex trading increase by manifold times.

It is necessary to bring theoretical knowledge into practice and only then you can practice forex trading profitable effectively. In the light of this, forex demo account is believed to be the best option. It is worth using the demo account, as with its help, you can also evaluate the effectiveness of your forex trading strategy and system. When you practice forex trading on demo account and you happen to find out that your forex trading system is not of much use to you, then you can consider replacing it with another system.

Most of the forex traders nowadays prefer to practice forex trading profitable on forex demo account, as you don't lose anything in it.

To conclude, it is best to practice forex trading on the forex demo account till you learn the art completely.

Start Trading

1 - Open a free account forex trading (demo account) in a brokerage company;
Opening a demo account is considered as the first step to learn through your own practice in Forex, that company will give you a non-real amount of money in your account forex trading to use it for trading in Forex, start making deals & positions, buy & sell as if you have a real account, with daily practice you will learn & gain experience.

2 - What you will learn from a demo account :
Choose a pair of currencies, EUR/USD for example & determine your target at a certain point to gain your profits, in other words you should determine the price at which you would buy the currency & the target at which you will close the deal, on the other hand you should also determine the point at which you close the deal if your loss reached a certain point which is called "stop lose", a very great idea that enables you to determine the maximum loss at which the deal is closed if it is moving against your predictions, you also should determine the period of that deal to remain opened, minutes, hours, days, or more, make a strategy for yourself to follow.

Following up the daily news is very important for the successful speculator, you should also study the main currencies in the market which is much more easier than studying the companies stocks in ordinary stock exchange, & the news & informations you need will be available through many sites on the internet.

3 - After you ensure that you became better qualified & able to trade with real money, start working with the real account to collect the profits you are waiting for, you can choose to trade via the demo or real account via your main account forex trading in the company you are using without the need to open a new account.

1 - Example (1); Buy (Long) position:

Suppose that after you have made the necessary studies & analysis for the market, indicators, & charts, you have started a buying deal on the pair EURUSD by 1000$ at the point 2.2000 then the price raised to 2.2100, the difference between the two prices is 100 points which is now your profit & equals 1000$ added directly to your account, as the point (1% of the amount you used in the deal) equals 10$.

1 - Example (2); Sell (Short) position:

After you have also made made the necessary studies & analysis, you can sell at a high price to close the deal or buy at a low price, for example, if you sold EURUSD at 1.2000 then the price decreased to 1.1900, you earned now 100 points which is the difference between the two prices, equaling 1000$ added directly to your account.