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A forex trading demo account is a trading account with monopoly money in it that is connected to the live market. Traders can be placed in real time and represent what would be true losses and gains if the money were real. Before you put 1 penny on the line with trading, you will need some practice. I had practiced TryMarkets demo account at first and now testing my strategies through demo accounts.
Demo is a practice ground which is funded by fake money. There is no basic difference between live and demo account except money. But some brokers create problems between two regarding spread, leverage and execution. To justify a broker a trader can open a margin account on this broker. It is a practice ground where traders trade to develop their skill level. So it is very much necessary to the traders. Through demo account I have selected Trade12 broker for me which having a high reputation.
Without a broker trader can’t survive in forex trading and without clients’ broker can’t make money. I can suggest the trustworthy broker in forex market called Bprimes. You will love this broker. Nowadays forex market is filling up with scammers brokers. It is very much hard to select the right one. Clients and brokers dependent on each other. So, for better and trustworthy trading environment they both should look each other back.
According to my trading experience a should must first try a demo trading account because it makes easier to judge a broker and to learn Forex trading perfectly. Even I start my trade with a demo account of Forex4you broker’s. I choose this broker because they have all most all the real trading tools which help me to learn basic things of Forex market. After trying the demo account for six months I open a cent account.