Free Forex Demo Account
The best way to start Forex Trading is to start with a Forex Demo Account. The same advice goes for those Traders who want to migrate to a new Broker.
Forex Demo Account
Forex Demo Account is the same as the Live Account except that in the case of the Demo Account the money used for the practice trading is virtual money and the Account is hosted in a separate server, Demo Account server. However, the trading conditions and features of the Demo Account are the same as Live Account.
Customizable Forex Demo Account
TadawulFx could be the first if not among the first Forex Broker to launch customizable Forex Demo Account. Traders can customize the Demo Account according to their needs and preferences and experience what it’s like to trade forex with TadawulFx, with absolutely no risks. The other advantage is that there is no time limit for the usage of the Demo Account from TadawulFx.
It is customizable because:
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Base Currency
There’s the choice of the base currency. Traders can select the Account base currency. The base currency available is EUR, USD, GBP, JPY or CHF.
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Leverage
Traders could choose the same leverage just like the preferred leverage on the Live Account. The maximum leverage available is 1:500. A low leverage of 1:100 or 1:200 is recommended.
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Deposit Amount
The minimum deposit amount is USD 500 and the maximum is 1 million USD. It’s best to choose the amount you would like to deposit on the Live Account.
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The minimum deposit amount for Demo Account of other Forex Brokers is USD 3,000. This amount may not be very practical to the beginners.
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Swap Free
Swap charges in Forex Trading is the interest charges for an overnight open positions. It is a rollover interest that is earned or paid for holding positions overnight. Swap Free Accounts is made for Muslim Traders. Unlike other Forex Brokers, at TadawulFx the Swap Free Accounts is without any additional charges or other hidden charges.
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Traders can choose to download the Swap Free Accounts and they will not be required to show proof of their religion.
It is important to configure the Demo Account with the leverage of your choice and the deposit amount of within your means. In this way, your practice would be more realistic.
Practice trading with the Demo Account using the trading strategies you wish to adopt for Live trading. With TadawulFx, traders are allowed to use Scalping Strategies as well as Hedging of positions.
Download Forex Demo Account
Forex Demo Account could be downloaded free of charge from the Brokers websites or at the Brokers Affiliates websites.
There’s nothing to worry about the site chosen to download the Demo Account. The spread is the same irrespective of the site the Demo Account is being downloaded and there are no other additional charges. The only difference, when the download is from an Affiliate website, is that the Broker will have to share the spread with the Affiliate if thereafter the Trader chooses to register the Live Trading Account under the Affiliate set up.
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