At the moment, the ever competitive forex market is inundated with a lot of forex brokers who are trying to offer their services to the teaming populace and thus, leading to a form of healthy competition among them to the advantage of the client. Under these and many more circumstances, the brokers have to do all within their power to make sure that they have a competitive advantage over the other.
One of the several competitive advantages which these forex brokers leverage on is the provision of an unlimited demo account. Forex brokers unlimited demo account gives you a unique opportunity to improve your trading skills and to also test your trading style and techniques under a real market conditions in real time but with a virtual money. The forex broker unlimited demo account will allow give you the experience of trading with the real currency while using a virtual currency and also assist you in knowing what goes on in the forex market during trading. Usually, most forex traders make use of this forex broker unlimited demo accounts to test run their trading strategies.
While it is very good to use a demo account, it is very important that you remember that while it gives you the feeling of what it means to trade in forex, there is a certain difference that exist between a demo account and a real trading account. In Demo accounts, there are no slippage and psychological aspects which are very crucial during trade.
CHOOSING THE BEST FOREX BROKER WITH UNLIMITED DEMO ACCOUNT
Consider the following factors when you want to choose the best forex broker with an unlimited Demo account.
1. CUSTOMER CARE
A good forex broker has a people oriented customer care service which have a group of professionals who are on standby to provide the clients with valid and timely information. These customer care services are provided in different forms such as phone calls, emails and live chat.
2. TRADING PLATFORM
The best forex broker with unlimited demo account should have a good trading platform and software which is very easy to use. Some of this software comes pre-installed on their sites, hence, bypassing the need to install separate software. The trading software provided by the forex brokers with unlimited demo account should ultimately be easy to use and navigate.
3. ACCOUNT TYPES
The best forex brokers provides the forex trader with demo accounts as well as standard trading accounts. The demo accounts are also provided with educational materials on how to best engage in the trade.
4. CURRENCY PAIRS
Since using the Demo account is a simulation of what is obtainable in the real market, the best forex broker with unlimited account should offer trade in a wide range of tradable currency pairs. Carry out a detailed research on the total number of currency pairs that can be traded by the forex broker.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.