The spot forex market was opened to individual investors in 1997. Since then it has become very popular with a large number of traders/investors all over the world. Retail forex trading is carried out via several 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 a forex demo account.
Some of them are specially made for high net worth clients who need a lot of cash; Others are designed for technical traders who need the latest charting tools while others are designed for speculators who need fast execution.
So how do you know which of these platforms is perfect for your trading needs? Enter your forex demo account. It is the safest and fastest way to find out if a particular trading platform suits your trading style.
Today we will discuss the main reasons why you should always trade in a forex demo account before trading live with your own money.
Check your broker platform
Since there is no real difference between a broker's forex demo and live trading platforms, you can use the demo to get a good understanding of your broker's trading platform. Demo trading will allow you to discover how to open/close trades, how to manage leverage etc.