A free forex demo account alone is neither a sales argument nor an indication of a product policy oriented towards transparency and customer friendliness. Important to a multi-channel access , the activation of automated trading systems and a professionally trained customer care . One of the few Forex providers who meet these criteria is the broker Blackbull Markets Canada.
- Free forex demo account trading at Forex Brokers USA
- 500,000 dollars start-up capital (can be increased)
- Unlimited access
- Access via download version, web-based and mobile
- Development of trading strategies possible
The online forex trading demo account scores with several advantages . Traders can choose between different platforms or use a demo account for several platforms . This of course has the advantage that the trader can get an overview of the offer and thus find out which platform best suits his own wishes and ideas for Forex trading.
Another point is the ability to not only execute and test strategies , but also to save them. After all, a strategy also wants to be carried out several times before using real money is tested. Saving them can therefore be beneficial.
What is a demo account for from the perspective of the broker and the trader?
A free demo account serves different purposes for brokers and traders. Traders want to get to know the broker’s trading platform without risk and formalities, gain insight into the expected conditions (especially the spreads) and possibly have an initial conversation with customer service . Canadian forex brokers use their forex demo accounts as a means of retaining interested parties in order to turn them into customers.
Functions of Demo Accounts
Practice accounts are used primarily for test purposes , but should have the essential properties of the live trading platform .
The trading platform serves as an important decision-making basis for Forex trading and can be decisive for the customer’s choice of whether he would like to use a broker . If the demo account then only allows a partial view of the platform and many functions are not visible or cannot be used, then the forex demo account does not serve the desired purpose.
Due to the real price market model, FXPro has no reason to manipulate the demo course supply and provides an uncomplicated practice account with unlimited functions. These are the two most important criteria for usable demo accounts.