Best Demo trading forex broker Recommendation?
- Thread starter abirex
- Start date
There are number of things that factor in
First thing is see the requirement for your trading style
Scalping: you will need tight spreads and you're okay with commissions
Swing: you can work with larger spreads and avoid commissions
Now that you have your plan (for eg. Scalping)
you can look out for brokers that offer ECN zero spreads accounts
proceed with shortlisting and comparing different brokers having the same plans
There are websites that compare broker spreads and commission on live time,
you can use that for live time comparison for different brokers
PS: Don't forget to check with the broker license if you are depositing a bigger capital and also if they are regulated by the government
First thing is see the requirement for your trading style
Scalping: you will need tight spreads and you're okay with commissions
Swing: you can work with larger spreads and avoid commissions
Now that you have your plan (for eg. Scalping)
you can look out for brokers that offer ECN zero spreads accounts
proceed with shortlisting and comparing different brokers having the same plans
There are websites that compare broker spreads and commission on live time,
you can use that for live time comparison for different brokers
PS: Don't forget to check with the broker license if you are depositing a bigger capital and also if they are regulated by the government
As above they are going to be largely what you look for in a broker to go live with. Crucially you want free and unlimited use of demo.
@Raheel Shaikh has summed it up perfectly. If you are still looking for broker, you can check this thread to choose one (they are all regulated tho)
https://www.elitetrader.com/et/threads/list-of-best-regulated-brokers.362682/
https://www.elitetrader.com/et/threads/list-of-best-regulated-brokers.362682/
I think almost all brokers have a demo account option. I would pick a broker for demo trading who has solid trading conditions (fees and spreads) after all that is what you will be progressing on to. From my experience, these two are good to try hands for demo - Fxview and Pepperstone. Both of them are pretty good for a start.
Mainly that it's free and has no time restrictions on it
I've been using both of them, started with their demos of course, loved ctrader with pepperstone & getting better spread & commissions with fxview.
Not sure what other traders believe, but I think that all the brokers have the same kind of demo accounts. They are just meant for practising for a while. When you want to get the real experience, you will have to go live.
My aim of using a demo account always is to test the trading conditions of the broker, recently used coinexx demo account and after switching to their live found no difference in the spreads, execution, etc. can try them.