How to open FBS's Demo FX Trading Account? Table of Contents
How to open FBS’s Demo Forex Trading Account?
You understand the basics of Forex trading, but you are worried about suddenly trading with your own money.
Is there anyone who has such troubles?
Although FX can be started from a small amount with FBS, it is a bit difficult to start trading suddenly.
For such people, we recommend Demo trading with virtual money.
In order to do the demo training, you first need to apply for a demo account of FBS, and applying for a demo account is very easy.
To open a demo account, you only need a “name” and “email address”, then you can start demo training immediately.
You don’t need to register the main account of FBS, so you can start the demo training in a few minutes.
- Go to FBS Official Website
- Sign up for FBS’s online trading service
- Receive login credentials for your account
- Log in to FBS’s personal area
- One click to open a Demo Trading Account
- Log in to FBS MT4 or MT5 to start trading (practice)
With Demo trading account, you can experience Forex trading without spending your own money.
In addition, some Forex companies also offer demo trading that has features that are comparable to actual Forex trading.
Therefore, this time we will introduce the features and benefits of demo training, and some recommended apps for doing demo training.
Become a FX trader by gaining a sense of trading with Demo trading account.
What’s the merit of FX Demo Trading?
What is FX demo trading?
Demo trading is simply a free practice tool for Forex trading.
The biggest feature is that you can practice Forex trading without spending your own money.
Even if it’s for practice, the demo account provided by FBS is very well made, and there are some that can be traded like the actual trading.
Therefore, it is often used by those who are new to FX as a stage before actually starting FX trading.
Now let’s take a closer look at Demo trading.
First of all, we like to introduce the benefits of demo training.
There are three main advantages to using demo trading which are: grasping the flow of transactions, seeing real-time rates, and knowing the risks.
1. Understand the FX trading flow
The first advantage is that you can get a grasp of the overall flow of Forex trading by using a Demo trading account.
No matter how much you have acquired FX knowledge, if you do not know how to order and make payments, you will never have a profit.
That’s where demo training comes in.
If you check the flow of orders, how to select a currency pair, and the operation method such as payment method using Demo trading account, you can trade in real Forex trading without hassle.
The important thing here is to do a demo training with the intention of making a real transaction.
Properly ordering and making payments without any tension is not much practice in trading.
On the contrary, if you can firmly grasp the flow of Forex trading by practicing with the demo training with a sense of tension, the possibility of making more ideal trading in Forex trading will increase.
2. See the movement of the exchange in real time
The next advantage is that you can experience the real exchange rate movements in real time on FBS’s Demo trading account.
Through the Demo trading account, you can know which news and economic indicators will be announced and will have a great impact on the exchange rate, and what are the characteristics of price movements during each time period.
Being able to systematically understand the whole picture of FX is one of the great advantages of demo training.
Experience the Forex market and Forex trading before trading with your own money.
3. Measure your risk tolerance
The final advantage is that you can know the risks.
Forex trading can be both profitable and costly.
So you should fully understand the risks with the demo trading account, and how much loss can be done in the transaction.
Otherwise, you will lose more than you can tolerate in the actual Forex trading, and you may end up withdrawing from Forex immediately.
This is where demo training comes into play.
If you analyze yourself how much risk you can tolerate by “how much” and “how much leverage” in the demo trading, you can reduce the risk of serious losses in actual transactions.
In addition to that, you can also try various trading styles such as scalping, day trading, and medium- to long-term trading without risk, which is another advantage of demo training.
However, there are some disadvantages to demo training that beginners tend to fall into.
It is important for FX trading to grasp the disadvantages firmly.
Demerit of Forex Demo trading account
The biggest demerit of Demo trading account is that it is easy to get a habit of trading without tension.
In Demo trading account, you don’t actually use your own money, so you don’t have to worry much if you make a lot of money or lose a lot of money.
Not losing money is also a merit of demo training, but it is also a cause of increasing the possibility of continuing transactions without tension.
Be cautious about the assumption that “profit is starting to come out and real FX trading will be okay”.
You could be able to make a profit with the demo training, but many people do not succeed in the actual trading and give up FX trading.
For example, Demo trading account has nearly tens of millions of virtual funds available, so it is possible to trade several million dollars in one transaction.
However, it can be said that such a trade is not very realistic if you just started FX.
Even if you happened to make a profit from such a high-risk transaction in the demo trading, if you make the same trade in the production transaction, you could lose a lot and immediately leave the Forex market.
Therefore, when using the demo training, it is necessary to have a firm sense of “tension” and “image of profit and loss”.
On the contrary, if you can pay attention to these two points, demo training can be the best tool for practicing Forex trading.
3 Points you should check before Demo trading
Are you looking to trade with demo trading accounts for a while to practice trading Forex and CFDs?
In case you are looking to open a Demo trading account with a Forex broker, there are mainly 3 points that you should check beforehand.
See the list of online Forex and CFD brokers in the page here.
- Whether the environment is similar to the actual trade
First, let’s focus on whether the demo account and the actual trading environment are similar. If there is a difference in “function” or “ordering method” between the demo account and the actual FX account, you will not be able to make the most of your experience with the demo account. Therefore, when choosing a demo account, we recommend that you choose a demo account that is “similar to the actual transaction”. It’s said that you get used to it rather than learning, but it also means that an environment where you get used to it is important.
- Is it easy to order on a smartphone or PC?
The next point is “easy ordering”. Some people use PCs as the trading environment, while others mainly use smartphones. Therefore, “easy ordering” is becoming important. Specifically, let’s check one by one, “whether the order screen has a layout that is easy to understand”, “is it easy to set the order”, and “is it possible to place an order smoothly”? By choosing a demo account that you think is easy to use, you can do demo training without having extra stress.
- Market News and Analysis
The last point is “rich information” and “easy to see”. Information collection is indispensable for FX trading. The ease of collecting that information becomes very important in actual trading. Therefore, please be careful when selecting a demo account for market information related to FX trading and visibility of economic indicators.
Are you also interested in opening a real trading account to invest seriously?
Start from choosing an account type of FBS here.
And for all real account traders, there are various bonus promotions and trading contests that FBS runs.
Visit the page here for the list of FBS’s all bonus promotions and trading contests.