In order to start trading on demo account, you should: 

 

• REGISTER to open a demo account

• Create your Username and Password and select your while filling the form

• DOWNLOAD Axiom Trading Terminal

• For HFT-LTS accounts download the MetaTrader 4 of the broker you need to start with, Axiom will guide and support you for such type of accounts

• For Arbitrage Accounts you need to download VertexFx and log in to it using the received data p[rovided you by Axiom Traders on behalf of the chosen broker you are working with

• Start trading on demo account as per your selection

 

Benefits of Using a Forex Demo Account

 

Most Forex traders prefer to use a Forex demo account to trade for a while before opening a real account. A demo account is funded by a limited amount of virtual money which the trader can use to perform fictitious transactions. This helps the trader to understand the currency market deeply before getting involved in trading. Using a demo trading account prior to opening a real account has many benefits. A few important benefits are mentioned below:

 

Live Currency Market Trading

 

As a beginner, you would not want to trade with real money in a live currency market. The lack of experience and the fear of making wrong decisions would prevent you from trading. A free Forex demo trading account will enable you to trade in a live currency market. The market will operate normally and will react in the same way to any price changes even if you are trading with a demo account.

This is a very significant benefit as it will allow inexperienced traders to get a feel of trading in the real market. They will be able to make decisions based on fluctuations in the market and will be able to learn more from this small and simple exercise.

 

Get Comfortable

 

Trading platforms can vary among brokers. By using a demo account, a trader can get comfortable with a particular Forex trading platform. These trading platforms can seem very difficult at first but once you get used to their fundamental functions and learn the techniques of using the platform to trade, you will find it very convenient to trade on that platform with a real account.

The formats of the charts on every platform may also differ. By trading virtually, you will learn to read and understand those charts and interpret them. This will help you trade favorably and will result in greater chances of profit than loss.

 

Practice

 

A demo account will allow you to practice your skills of trading without risking any money. With no fear of loss, you can perform all kinds of transactions and see how they work for you. Even if you end up losing your virtual money, you do not have to take that as a failure. Rather, you can consider that transaction as an important lesson which you should avoid doing with a real trading account.