Forex Demos
Journey into Forex can be Fruitful.. Or Painful!
How you traverse Forex and with who could make or break you.
Opening a free forex demo account, commonly known as paper trading, is a convenient and safe way to test trading software without risking real money in a live account.
Provided The Same Conditions are Equivalent in Actual Trading. Meaning the same Type of Account and Leverage and STP/NDD.
Do NOT trade Live Account with that EA if Specs and Setup are different than Demo Setup used for testing. We Know this from actual experience going back to 2008.
Demo Sources
Since we have been dormant for a while, I would rely on Forex.com, Oanda.com (Canada) and IG.com demos.
However, there is a list on ForexBrokers.com if you wish to look elsewhere for a Demo.
While they show Pepperstone in Australia, and they may be good, Other Than Oanda, I will NOT accept any Brokers in Australia due to what we experienced with Gomarkets in Australia years ago. Read more on that in my Brokers page.
Requirements for a Live User
For us to take you on as a Live User, we require a Broker with:
1. MT4 Platform
The broker must provide the MT4 platform.
2. STP / NDD
STP (Straight Thru Processing) and NDD (No Dealing Desk).
3. Reliable Server
Fast, reliable MT4 Server with minimal down time.
Next Step
Use a demo to evaluate the trading setup without risking real money. When reviewing a demo, keep the account type, leverage and STP/NDD conditions equivalent to the setup intended for actual trading.