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Forex Trading demo account in South Africa

Forex demo accountForex trading is a very important segment for private traders in South Africa. In addition to currencies, raw materials such as precious metals and energy stocks can also be traded using the forex demo account.

Many providers who make their services in this area available to non-public traders also have a separate forex demo account. In the following article we would like to clarify whether these are consistently serious offers.

In our test we found that the demo account of online Forex broker easyMarkets is especially suitable for beginners and their requirements. Check the “no deposit bonus forex” page if you are interested in finding out about Forex bonuses.

The demos of Forex brokers listed below were also able to convince us.

Best Forex Trading Demos

Forex Broker Minimum Deposit Trust Rating Visit Site
EasyMarkets South Africa
R1
99.85%
Sign Up
XM South Africa
R500
99.81%
Sign Up
FXTM South Africa
R100
99.25%
Sign Up
Avatrade South Africa
$100
98.11%
Sign Up

Demo account helps you start Forex trading

There are many various facets in the area of investment and trading on the stock exchanges. Trading on forex is counted as a higher art. In addition to the financial levers that are on offer, there are different products and trading strategies to choose from.

Fx Demo account

Traders who have little or no experience are advised time and again to start out with a demo account without risk. Additionally, to the opportunity to check strategies, traders may also deal with the technology here. the premise for trading on Forex is usually technical analysis. Here, too, beginners can thoroughly familiarize themselves with the demo account and test the chosen Forex broker free of charge.

Traders will not loose Real Money

Inexperienced traders particularly often ask themselves whether fraud can be expected when trading with a forex broker demo account. This question may be answered on two different levels. Since there’s in fact no real money involved in trading via a demo account, it’s also impossible for the trader to lose money. Such fraud is therefore impossible.

Nevertheless, seriousness plays a crucial role. This could make sure that absolutely realistic conditions are offered. Additionally, to the technical possibilities and the available base values, this also applies to the prices and fees that arise in trading.

There are demo accounts that have the main purpose of attracting newcomers to trading with real money as quickly as possible. They pretend a security and profit opportunities that don’t exist. In addition, costs and costs aren’t shown transparently.

Demo Trading Account in South Africa

It is not always clear to beginners and laypeople how high the quality or the seriousness of a demo account may be assessed. Specifically, various aspects and criteria must be taken under consideration.

First of all, it’s crucial whether real prices are used as a basis for trading via the Forex broker demo account. In our tests, we therefore also checked whether there have been any deviations here in the past. Additionally, we paid attention to the question of whether all costs are shown in the context of simulated trading that might also occur in trading via a true money account.

We could only determine that these conditions were met, a recommendation was made for the corresponding online broker and its demo account. Another category, the one that’s of great importance when choosing a reputable and individually suitable online broker is regulation. this can only be assumed for providers who are based in an EU country. The official control ensures that customer protection is given sufficient attention.

Demo Trading Account

Conclusion

A demo account is an instrument during which trading in forex products, i.e. mainly currencies and rusts, is merely simulated with virtual credit. With a view to possible fraud, traders cannot do much wrong, as they do not have to deposit their own credit initially. Even so, traders should take the time to make an intensive selection.

Above all, it’s important that virtual trading is also carried out realistically. Of course, this is often true if you would like to switch to trading with real money soon. The traders should be able to be sure that they have gained their experience under realistic conditions.

There is definitely a risk that dubious providers will convey a refined image, during which the risks and also certain costs are hidden. Additionally, such dubious procedures should also give food for thought with reference to the implementation of real trade. Trustworthy and reputable online brokers, on the opposite hand, already convince with the implementation of the forex broker demo account.