Hey guys, which is the best broker that i can start with for demo trading?
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Welcome to BabyPips @Mapesa1
Demo accounts are free, so demo trading is your opportunity to test multiple brokers both for the platforms they offer and for their customer service. Where do you live? Consider brokers regulated in major financial centers appropriate for your region.
The advantage of trading with a well-regulated broker is that there are minimum standards both financial and trading, ongoing monitoring by the regulators to ensure compliance, a framework for handling complaints from customers, and the power to enforce actions against regulated brokers for violations.
- In the US, forex is regulated by the CFTC and NFA, and brokers are required to maintain net capital of $20 million.
- In the UK, forex trading is regulated by the FCA and funds are protected for up to £50,000 per client by the FSCS.
- In Canada, forex trading is regulated by IIROC and funds are protected for up to $1 million per client by the CIPF.
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Forex demo account recreates the live trading condition however requires no genuine cash store. It’s a protected situation for amateurs to make their initial phases in the realm of forex exchange where they can learn, practice and attempt distinctive exchanging styles. So demo trading is your chance to test numerous brokers both for the platform they offer and for their client benefit. Exchanging for Beginners. Learning and data are fundamental elements for any fruitful formula in internet trading. They can get those from demo.
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There have so many brokers; you can go any of them! But try to select those brokers who are very active on educational materials! Because, you need educational support as a new trader!
@Mapesa1
you should try various brokers and find the one which suits you.
Once you start trading real you should stick to the broker whose demo you were satisfied with.
So generally it is important to have regulated broker, with good reputation and good trading conditions be it spreads, exeution or leverage that usits your needs 
Use those brokers who are offering unlimited demo trading service instead of 3-6 months demo trading opportunity!
You should use demo account which suits your trading style, do not think what others are saying for you. Think what you have learned in books and charts.
A demo account is super important and useful for newbies who start forex trading.
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There is no way to ignore the importance of demo trading even though the traders we have especially the beginners don’t like to trade here consistently. We have to be serious in here if we want to acquire something from here otherwise it is useless to have in spite of passing long time.
The broker really is dependent upon where you live. I would find brokers in your locale that are regulated, offer an unlimited demo and possibly even allow sub-accounts depending on what kind of practice/testing you are doing.
In the US I would suggest OANDA, because they offer an unlimited demo account that never expires and allows you to have up to 10 sub-accounts. They also offer the MT4 platform.
The reason I like additional sub accounts is I can set different leverages on each demo sub-account to experiment with each and if I wanted to back test any EA’s (Expert Advisors or Bots), I can run different bots on different accounts.
Another option is to practice paper trading without a broker. You can open a free account on tradingview.com and setup a practice account to paper trade. TradingView is browser based, so it’s not platform dependent. You can use it on Windows, Mac & Linux. TradingView has a lot of great charting tools and indicators. You are limited with the free account to an extent, but still great for paper trading.
URL:
Wiki on Paper Trading:
https://www.tradingview.com/wiki/Paper_Trading
Some Tutorials on TradingView:
It’s a good message really. Only learning by bookish or others cannot make sure a good result of trading, you have to practice in a proper way besides learning. and from all demo is the best source to practice trading properly. Always try to trade in a demo what have you acquired by learning.
Learn from your current trading and always avoid past mistake. Otherwise that’s not possible at all to come out from losses in spite of having most powerful bookish and demos knowledge.
Current trading experience in demo cannot bring good result; it’s just a place for practicing. That’s why it is more appropriate to open a live account with minor balance. It could be supportive for being a experience trader very rapidly as a new forx trader.
Your message can discourage the newcomers not to continue demo trading. of course demo can bring good result if you concentrate here accurately and don’t trade at random.
Yes actually as good step to practice on demo account, maybe many trader that cons with demo account they will said only waste of time, but experience in demo account really help to start trading on real account
But to be experienced in demo is really a big deal, because lots of patience needed and as a newcomer generally we fail to continue it. So we don’t get anything from here even though demo is a master place to become a knowledgeable trader for beginners.
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