Best forex trading demo account 2023 with nextmarkets
Beginning your Forex trading journey can be extremely scary, especially when you don’t know what to expect. Plus, deciding which trading platform to register an account with or what instruments to trade can be a challenge in itself. The following article aims to elaborate on the best forex demo account in the market and why Nextmarkets forex demo account should be your go-to choice.
There are several things to consider before deciding whether or not a trading platform is top-notch, and one of them is the broker’s demo account. Continue reading to uncover the best forex demo account 2023.
What is Forex trading? - A quick overview
Forex is the short term used for foreign exchange, which is the process of exchanging one currency for another. The forex market has been around for centuries and is now considered the largest and most liquid financial market globally. Forex traders trade foreign currencies in order to make profits as currencies rise and fall in price.
With an estimated average daily turnover of $6.5 trillion, it’s no shock that forex trading is becoming more popular each passing day. Traders can exchange foreign currencies 24 hours a day throughout the weekdays, that too, from the comfort of their homes. Since several online brokers allow users to trade a number of currency pairs through their platforms, it could be challenging to determine which platform would be the best for trading Forex. This could be determined in several ways, for instance, how many currency pairs are being offered, there are advanced tools to facilitate you with your trade, and whether or not the platform is user-friendly.
The best way to test any trading platform is through a demo trading account. Here at Nextmarkets, we aim to offer the best demo account trading experience.
What is a demo trading account?
A demo trading account is an account offered by traders where users can experience a real trading environment while using fake money. As a beginner, the trading market can be scary, especially because there’s money on the line. The purpose of having a demo account is:
- To enable users to judge the risk they may face while trading a certain instrument.
- To simulate the user’s experience on the trading platform and what tools, options, and instruments they would get access to.
- To help the user understand where they stand in terms of trading knowledge and expertise.
- To give users a confidence boost by allowing them to experience real-time trading and the trading platform they’ll be registering with.
We want our customers to be aware of how our trading platform works, the numerous tools and facilities we offer, and why we’re the best trading platform for them. Thankfully, our top-notch demo account feature allows us to do that successfully.
Why is a Forex demo account necessary?
Trading Forex can be pretty risky, mainly because currency values constantly shift due to economic, environmental, and political influences. As a beginner, it’s not wise to jump into forex trading without doing your homework beforehand.
If you register for a forex demo account here at Nextmarkets, you get real-time access to the changing market. You can utilize the different learning tools, guidance provided, support offered, as well as news updates to minimize the risk you may endure in future trades.
It’s better to use a demo account before trading any instrument. No trade comes without a substantial amount of risk, and hence it’s important to know your way around your trading platform and how the market shifts.
What to consider before choosing a demo trading account?
There’s a fine line between an excellent demo trading account and an average or below average demo trading account. The factors that determine that fine line are:
- Is the demo trading account free of cost, or do they have a deposit fee?
- Does the demo account allow you to trade commission-free?
- Does the platform offer expert guidance and trading advice?
- Is the trading platform easy to use, as trading forex requires one to make instant transactions?
Luckily, we at nextmarkets offer a free demo trading account and do not have any commission fee; we strive to provide our users with great educational tools, expert trading advice, and ongoing guidance through analysis and trading ideas. On top of that, our platform is extremely intuitive and user-friendly. It’s safe to say Nextmarkets demo trading account is ahead of its game.
Why choose nextmarkets forex demo trading account?
Here at Nextmarkets, we aim to make life easier for our traders. Nextmarkets demo account is absolutely free of cost and takes a few minutes to register with. Once you’ve opened your demo account, you’ll be provided with a virtual sum of €10,000. You can use this sum of money to find your way around different strategies and polish your trading skills.
The Nextmarkets trading platform is not only easy to use but extremely intuitive as well. The ability to make instant transactions is a huge plus point when it comes to trading Forex because it allows you to make the most of opportunities that emerge.
A cherry on top is that there’s no time limit for the demo account. Instead, you can practice and find your way around the trading platform for as long as you wish. Once you’re confident in your trading skills and our trading platform, you can register an account with us in under 5 minutes. Though our demo account is designed to stimulate the actual trading platform we offer, we’re confident that our official trading platform offers an even better trading experience.
What other demo accounts does nextmarkets offer?
The Nextmarkets demo account feature is designed for all trading instruments offered on our official trading platform. For instance, apart from the best forex account, we also offer users the best day trading account, the best stock trading account, and the best CFD account in the market. Each one of our demo accounts offers users the same facilities and expert support.
So, if you register a day trading account, you’ll get trading tips and ideas related to day trading, and the platform will provide you access to day trading experts. Likewise, the CFD trading account is designed to prepare potential CFD traders to minimize the high level of risk that tags along with CFDs. We understand that CFDs are a high-risk instrument, so traders that look forward to profiting through CFD trading need to grasp relevant trading strategies and an ample amount of knowledge regarding the market they want to trade-in.
Keeping each trader’s needs in mind, our trading accounts are designed to assist you in your trading journey accordingly.
Benefits of using nextmarkets demo trading account
There are several pros of registering with Nextmarkets demo trading account. Firstly, as soon as you hop on to the platform, you’ll receive expert analysis and trading advice through automatic notifications. We have a team of market experts that thrive to provide our users with valuable insights and expert trading knowledge and tips.
Also, trading with Nextmarkets dummy forex account allows you to trade on the most active market globally; isn’t that a great way to polish your trading skills?
We believe in continuous learning and value learning tools accordingly. The secret to becoming a trading expert is to focus on trading tips, strategies, and insights. So, you can expect to receive up to 100 trading ideas from our market experts every month. We offer unlimited access to learning material so our traders can learn at their pace. These trading ideas can be implemented on your demo account as well.
The goal is to put you on the right path with the help of improved knowledge, faster decision-making skills, and the ability to understand how the market works.
What to expect from our forex demo trading account?
Once you’ve registered with the Nextmarkets demo trading account, you’ll notice that the platform is extremely user-friendly. Firstly, Nextmarkets has one of the most innovative yet simple-to-use platforms in the market. It won’t take long to find your way around our trading tools, facilities, and instruments.
You’ll also notice that our platform provides trader access to several professional coaches that are experienced in different types of trading. You can follow the footsteps of expert traders, make the most of our monthly trading tips, or even find your way around the right trades with the help of our expert analysis or charts. You can also get in touch with professional coaches if you want further support.
There is a chat monologue feature where professional coaches explain the thought process behind their trades to give you a better understanding of how to analyze the market or make low-risk transactions. Through the expert support, educational tools, and opportunity to trade without risking capital, we believe you will end up with a much better grasp of cause and effect principles.
How to register your Forex trading demo account now
Once you’re certain that you want to experience the free forex trading demo account offered by Nextmarkets, there’s not much to do. You can instantly hop on to our website and click on the demo account option. We ask for basic details to make sure you are who you say you are, and after that, we set up your demo account for you within minutes.
You can manage your account in a way that suits you the best. The FX trading services are available from Monday to Friday, 24 hours a day, so you can enjoy the demo account whenever you’re free. There is no time limit, so you can practice as much as you want before trading with actual money.
Once you’re confident that you want to trade with actual money, you can register an official trading account with us within minutes. One minute you’re learning, and the next minute you can invest in actual currencies.
Final thoughts – Invest in your future today
Trading forex can be extremely rewarding, but only if you’re prepared to face the risk, they carry with them. Here at nextmarkets, our aim is to help you minimize the risk of losing capital and maximize the chances of making profitable trades.
Our forex trading demo account is designed to help traders get on the right track with the help of expert knowledge, guidance, and supporting tools. The best part about our trading platform is that it’s free of cost, doesn’t charge any commission fee, and gives you the experience of a real-time market.
It’s always better to know where you stand and improve your skill set before trading forex. A good trader always has strategies up his sleeve and can analyze the market to make the right trades at the right time. Indeed, predicting the market is not an option; however, the primary way one can minimize the risks of transactions or trades is with the help of expert analysis, news updates, trading strategies, and an intuitive and user-friendly trading platform.
Now that you’re aware of the many benefits the nextmarkets demo account has to offer, don’t waste time. Hop on to our sign-up page and register a demo trading account within minutes, that too, for free.