By: Charley Warady
It's been heard more than once that practice makes perfect, and having a Forex practice account is used for just that. Many Forex brokers have available to their traders a demo account. Some are for a specified amount of time; used simply to get familiar with the platform. Once the trader is comfortable with the platform he's expected to move on to a real account and that's it for the demo account.
Some brokers don't offer a Forex practice account at all. Their opinion is that these kinds of things attract people that aren't really interested in trading Forex, and only want to play online. It's not worth their effort or technology to set these things up for people that are only going to leave without investing any money in trading.
The novice needs practice
Someone that is new to Forex trading should try it out first, and not have to risk real money; even if it's only a couple hundred dollars via a mini account. The difference between real trading and demo trading is always apparent, but the level of being comfortable is important. If Forex trading is not suitable for someone, it's infinitely better that they learn this right away.
Read More at : http://www.dailyforex.com/forex-articles/2010/11/Forex-Practice-Account-For-Everyone/6536
Thanks for giving valuable information.
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A broker that is not regulated by the CFTC has a legitimate interest that you lose money. In fact, if every one of their customers would turn a profit by the end of the month, the broker would be bankrupt.
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