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Saturday, February 12, 2011

Forex Brokers That Offer Demo Accounts

Here is a short list of forex brokers who offer free demo accounts for prospective traders. Using these will not only help you sharpen your skill and hone your trading strategy, but it will also enable you to evaluate the different online brokers and your options for 

Most online forex brokers offer many similar services, research, resources and information. But usually their trading platforms look and feel different and have different features and functionality.
When you're in the heat of your trading session, you will need an interface that makes sense to you and you can easily navigate. You don't want to lose money because you couldn't find the button you needed.
FXCM - Forex Capital Markets gives you a $50,000 demo trading account for free. There is a nice flash demo on their website that gives you a video tour of their trading interface. On this interface, you are able to trade multiple currency pairs at once and see them all in once screen.
GFT - Global Forex Trading doesn't have a video tour, but they have multiple applications that you can use from a software program that you download onto your computer to a web based interface as well as applications for your cell phone or PDA.
Forex.com has a 30 day trial platform with a $50,000 trading account. You can test out their advanced charting program to do your technical analysis. It also allows you to trade spot gold.
This is important because gold is tied to global currencies. The USD used to be backed by gold. It's not anymore, but it's known as the safe place for currency reserves when the USD, the safest currency in the world, seems compromised.

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