FBS demo account offers the new traders a big opportunity to trade real without losing real money. The demo account lets you test out the Forex market with virtual money using real market data. Therefore, it is a good way to learn how to trade. Even if you make a mistake, you won’t lose anything; That sounds interesting, right!?
Advantages and Disadvantages of Demo Account
In fact, the demo account has a lot of pitfalls. First, the demo account offers a lot of money to trade with. The amount often exceeds the real amount which the trader intends to invest. That is to say, traders take extra virtual money for mistakes. In addition, with big capital, traders underestimate the degree of losses since they are easily recouped by a big capital than by a small one.
Second, another important disadvantage of the demo account is the lack of real emotions. When you trade using virtual money, the psychology isn’t involved; When you have nothing to lose, you do not experience fear. Fear makes traders stressed; therefore, it is not logical to test yourself without actually know how to behave in a stressful environement.
How to get a benefit from FBS demo account?
To make FBS Demo account useful for you, you need to follow these three steps.
1. Trade demo for testing
It is absolutely essential to start forex trading with demo account. Therefore, these tips are useful to help you out discover more things that will make your trading more useful.
- Choose the same capital as the one you will have on the real account.
- Try to imagine that the money you have on the demo account is real and profits and losses are real too.
- Remember that if you failed to gain profit on a demo account, you will not be able to do it on the real one, so try to grasp the key elements of trading while you use the demo account.
2. Trade demo to win real money.
Once you get used to the trading environment and you have gained some experience, we suggest enrolling in FBS demo contest. This demo contest allows you to get close to the real market since you attempt to win some real money.
FBS demo contest allows you to win up to $450, read More HERE
3. Open cent or Micro account
You cannot stay trading FBS demo account forever; you need to make some progress. Therefore, FBS offers you cent and micro accounts that you can open only with $1. However, we suggest to deposit more in order to take trading seriously.
Read more about FBS Account Types HERE.
When you follow these steps, you will get close to success.