ForexNewsNow – Whether you’re new to forex or a seasoned pro, demo forex accounts can let you practice with new platforms and try out your newest trading strategies without risking any of your own money. For most brokers, you’ll get the same tools and alerts you would get with their standard platform, the only difference is that instead of trading with real money, you’re trading with virtual dollars. It’s a good test to see how profitable you are and to learn more about trading. The most popular forex brokers that allow demo forex accounts are FXCM, CMSForex, AvaFX, and Easy-Forex.
FXCM gives you $50,000 in practice money with your account along with access to their trading platform. You get live buy and sell prices, 24-hour trading, and between a 2.6 and 3 pip spread on most major currency pairs. You also get access to a library of education and training videos.
The major advantage of trading through FXCM is that it is a no dealing desk broker. By not having their own dealing desk, FXCM can give you the best rates from a wide range of different liquidity providers. There is also no conflict of interest and you won’t have any trading restrictions. This lets you scalp and perform many other high frequency trades that some providers outlaw.
CMSForex gives you the live news, education, and analysis that you need to succeed all within their highly acclaimed VT Trader 2.0. VT Trader comes fully loaded with all the tools that every level of trader need to succeed. For the novice trader, the interface is intuitive and easy to use, letter you learn how the market works and how to trade quickly and easily. Advanced traders will appreciate the real time chart based trading, the 120 technical indicators that get supplied, and the ability to trade in stocks, futures, and commodities.
CMSForex is a great option for nearly any trader and opening a demo account will let you see just how powerful their platform is without risking your own money.
With Markets.com you can trade not only forex, but also indices, gold, silver, oil, stocks, commodities, and bonds. The practice account comes with $100,000 and you’re able to trade all the major currency pairs and lesser known pairs as well. You also get access to a large cache of research and educational videos to help you learn more quickly.
AvaFX is one of the largest forex brokers and for good reason. They offer a $100,000 demo forex account with fixed spreads. Their platform is one of the best on the market today. It’s based on the reliable and versatile MetaTrader4, but come stocked with advanced tools, strategies and indicators that you otherwise would have to pay hundreds of dollars for. You also get access to professional charts and technical analysis and one-click trading.
And if you do decide to open a real money account with AvaFX, you won’t have to worry about any extra commissions or fees on top of the pip spreads.
Easy-Forex offers a fast platform with guaranteed stop loss rates, live quotes and no hidden costs. They offer gold and silver trading in addition to forex trading. The no-frills trading platform is a great place to start for beginning traders who just want to get their feet wet in the market.