Hello, this is Lucas from Wandering Traders LAB.
Today, I want to talk about the DEMO account.
It is generally said that when you start the trade, it is better to start from a demo account.
This is just fake money, you do not need to make deposits for this.
I recommend doing a demo account if you are totally beginner like it is the first time to trade.
If you are a beginner, I guess you don`t know anything like currency pairs, expiration time, how to bet, and even the basic operation.
In the demo account, you can practice it for free.
Except the money is fake, everything is the same as the real account even its price movement.
So, before you fail in the real account by taking silly mistakes,
I recommend trading a demo account first.
This is how the demo account works.
This is the broker which I mainly use, called HighLow Markets.
( there are really a lot of binary options brokers, but most of those have problems like not allow me to withdraw the deposit.)
In the demo account,
you have $10,000 (Virtual money).
Why the DEMO account is important? How long should I practice using it?
Someone may think, “How long should I trade with a demo account?”
or “it is not so important because it is just fake”.
yeah, I understand what you think.
but Let me tell you this,
The demo account is really important because the price movement is almost the same as the real market.
So, It means that you can try your trade without any risks.
This is so convenient, isn`t it?
This demo account allows you to know what exactly is happening at your trade points at a rough market
It is a basic rule of trade that you should not trade if you don’t have enough reasons to enter.
So, you don`t have to do the trade with real money in these rough markets.
But if you use the demo account,
without any risks, you can test your trades and keep gathering the data of your trade even in the rough market.
Why do you trade? It is because you want to make money, right?
Then it is a stupid thing to do the trade taking the risk in the difficult market.
It depends on you how you use the demo account effectively for your trade.
I hope my idea will help your trade.