As you know, you will try to make money and make money, and this is an art. You need to be an expert in order to show this artwork successfully. For how long a musician is training for this, forex traders must also be trained. Of course, a musician does not need a long-term training.
The money you will receive on the forex market to earn money will show you how to invest in a short time. Books, educational videos, online seminars and demo accounts. In the forex market where all the world’s investors are gathered and traded, you should benefit from these trainings so that you can take advantage of your own share. I know this is already the case, before you go through it again it will be good. From A to Z you can trade like professional investors in a short time thanks to the training you can get from advanced forex to the most basic forex information. These demo accounts, which are among these educational opportunities, will give you the opportunity to practice and when you enter the market you will be able to say ‘where did I come from’.
Demo accounts will allow you to see at risk how the theoretical information you are working in practice. It will also show you how to prepare well for the market and what you will encounter when you enter. It will make your transition to a real forex account easier and will give you many more advantages. Now we want to look at the differences between the real and demo accounts, which are the most curious topics:
What is Forex Demo Account?
Let’s continue from the musician example. A musician constantly practices to press the right notes in his concert and not make mistakes. Well, why do you have the opportunity to practice on the forex market? The result is that the musician does not practice it in the face of listeners; A forex trader can practice before the market shows up. Here is the demo account, the service that allows you to practice on the forex market.
Demo accounts are an application that enables you to trade in real market conditions with virtual money. We can look like a game; But if you act like a game and do things like that, there is no benefit. Through the demo account, you have to define the virtual aspect that you defined yourself as your own money and make your transactions accordingly. If you use it like this you will gain a good experience and you will see how you gain or lose.
What are the Benefits of Forex Demo Account?
With demo accounts that allow you to trade with virtual money, you know the functioning of the forex market closely. Consider teaching a mathematics course verbally with examples on the board. With demo accounts, you will learn how the theoretical information you have gained in practice and understand the process better. The biggest advantage is that you do not risk your penny while doing this.
With demo accounts you will also be able to determine your own characteristics and the best strategy for your investment objective. In the market, everyone is beneficial to each other, and it is not possible that you will succeed by implementing the strategy that one applies. Because you can have different perspectives with that person and for that reason one of you may lose while you win. For this reason, the information you give about the forex market will give you a much healthier result if you set a course for yourself. Demo accounts are also a good way to determine this way to help you win.
You will have information about the forex market without risk taking, demo accounts, how to understand how trading instruments are being traded, how to buy and sell, how to avoid risks. At the same time, you will learn the platform you will use for trading your forex trading with demo accounts.
What is Forex Real Account?
You have gained your knowledge of the Forex market and have a certain experience. You are ready to trade yourself forex on the forex market. When this time comes, you tell your forex company that you want to switch to a real account. So if you want to become an official and legally forex investor, you should create an account and buy or sell by depositing your money. In this way you will share some contract signatures, identity and bank details with the forex company. With this information, the brokerage house will create a forex account for you. This account will deposit your money and you will begin your transactions. These are the real accounts.
When you create a real account, you are now a forex trader and you start to show up on the market.
What are the Differences Between Real and Demo Accounts?
- The main difference between a real account and a demo account is your psychology. No matter how serious you are in the demo account, trading with virtual money will psychologically comfort you. But on the real account you do your processing with your money and you can suffer a loss due to a small error. The investor who is aware of this will be back with the thought that I will lose my heart in the real account while trading in the demo account comfortably.
- In demo accounts you create many positions without making many account books. There is no real risk, and even if you lose, your virtual look will be diminished. When you try to move in the same way in the real account, you will see some changes and this may come to you differently. For this reason, you should not forget that even if you start with a real account for the forex market, you have to act with little steps even if you have used a demo account.
- When trading on a real account, you have difficulty controlling your emotions. So far, we are more likely to obey the devil while trading on the real account. You should not forget that you do not have a chance to get revenge on the market, and you should stay away from the thought of being a volley by a single operation. demo accounts do not enter such a psychology.
- The most important thing to note when trading with demo accounts is to learn to keep your feelings away from the market. You need to take your mind off the process of the demo account and see if you can see it as a real transaction, notice the losses caused by your emotions and control it. You have to learn how to make a senseless decision in the face of events that happen instantaneously.
- The servers of the demo accounts are different from the real accounts and you will not experience any lockups due to the online system. But in real accounts you can experience a server lockup. You have to be calm in this situation and look at what you can do without panic.
- If you see the price in the demo account, your transaction is realized at that price. In real accounts you can see 1-2 pin shifts.
- You may also notice a difference between the demo accounts you use with a high balance and the actual accounts you use with low balance. With demo accounts opened with a high deposit, you can enter many positions and you will not have marginal problems. But you may have a marginal problem because you are trading on a real account with less money.