Demo account is similar to the live trading account provided by the brokers, the processes are more or less much similar to those as in live accounts with the only difference that it has virtual funds in it. These demo accounts can be used to learn forex easily, they are also used to back test any strategy or testing any new broker. I still sometime use demo account besides my live trading just to test any new strategy. For getting demo account, i suggest choosing demo accounts which are free and never expires. I guess hotforex demo accounts can be traded without depositing any amount with the broker and they are free forever with no expiries.
Demo account is a place to acquire all basic fundamental information which is very supportive to kick of a live account accurately. But we the traders in particularly the newcomers don?t believe the importance of this trading place at all. I have opened my demo account in MXTrade broker.
I wouldn't recommend to use Exness for trading. They stopped the traders from news trading by dropping the leverage to 1:200.Originally Posted by number1
Demo accounts are where prospective investors can practice trading and learn systems before trading with real money. Many businesses including FreshForex broker offer these online programs for beginner investors to get a feel for what it’s like to trade on real markets—without the impending risk.
A demo account is where beginning investors can test out strategies and learn how trading technology works, without facing the risks associated with the real markets. To use a demo account all newcomers can use FreshForex broker's demo platform.
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