Forex trading is a complex activity for seasoned traders leave alone newbies and less experienced traders. In addition, it is one of the most volatile investments you can make.
On the other hand, forex trading as volatile as it is, is one of the most productive investments you can make with your money. Highly experienced traders are making a comfortable living from forex trading.
Forex trading is open to all. In addition, one can start earning from forex with as little as $25. To learn, trade and earn money from forex one needs to link up with a professional and highly experienced forex broker.
Rakuten is a leading reputable forex broker who enable you as a trader access the market, trade and withdraw your profits. To participate in the market, you need to open a trading account with your forex broker. But, before you start trading, you will need to open a Rakuten forex demo account to test the waters before you get into the deep end.
Why do you need a Rakuten forex demo account?
Its risk free
Whether you are an experienced or an inexperienced trader, your forex demo account does not require you to trade with real money. As an experienced trader, you can simulate some of your future trades before you actually commit real money into them.
As an inexperienced trader, you can learn the ropes of forex tading without risking your money. A demo account contains virtual money and follows the market as it is on the day at that particular time you are trading.
You can use it to learn how to trade
A forex demo account is an actual forex trading account without the risk of loss. In addition, forex brokers provide the demo account for indefinite use. This is its greatest advantage.
When you have a demo account, you can take your time to learn how to execute profitable trades and also how to apply forex trading strategies for as long as you can until you are confident enough to trade with real money.
It offers real-time market conditions
A demo account is more than an example of a live trading account. It is an actual trading account only that it contains virtual money. That virtual money when used, is used in the real forex market conditions. If you can consistently make profits on a demo account that you are good forex trader.
It is based on the actual trading software
To live trade forex, your forex broker provides you with a software to execute your trades. When you trade on your demo account, you are using the actual software that you would were you live trading. The demo account therefore, helps you learn and understand your trading software and how it works when you are trading the live market.
To test out different trading strategies
Your demo account is your accompaniment during the time that you will be learning how to trade forex. During your learning period, you will come across trading strategies used by expert forex traders and you can test out their efficiency and effectiveness on your demo account without the risk of loss. You can choose to focus on one strategy and perfect it on your demo account before you actually implement it in your live trades.
How do you get your Rakuten Forex Demo Account
To get your demo account you only need to visit the Rakuten forex broker’s website and apply for a demo account.
You will be required to fill in your personal identification information and once you are through, you will have access to your forex trading demo account free of charge to use for as long as possible without using any of your funds.
When you eventually start trading forex, you will still have the ability to use your demo account. A demo account enables experienced traders to test out their thoughts on the market and to visualize how their trades would fare.