Forex (FX) Demo Trading Account | Rakuten Securities HK
Rakuten Securities HK offers potential clients who are interested in forex trading a free FX demo account. Before the real trading, clients can try to experience our training platform of forex trading.
Forex (FX) demo account for forex trading market
Forex is known for easy wins and losses. This is one reason why there are several new people who choose to trade in forex. Early traders had no option but to learn trading by investing directly and learning from their mistakes. But today, beginners have the opportunity of using a Forex demo account to master forex trading before they start making actual investments through a real forex trading account.
At Rakuten Securities, our clients have the opportunity to use a demo account and get comfortable with the interface and the different trading and research tools available on our platform. If you are a beginner here are 5 reasons why you should start with an FX demo account:
1.Conduct risk-free trade
Every successful forex trader has years of experience which they spent in mastering their craft. Trading risk-free with virtual funds helps you ease into the trading environment and gives you the real experience of how easily the tables could turn for a trader. This helps you learn quickly from mistakes that you may end up making and also gives you the opportunity to plan your investments in a better way.
2.Familiarise with the trading platform
The FX demo account emulates the actual trading platform giving you the ability to ease into the environment. You also get to figure out how to use the various tools available on the trading platform and which ones could be most effective for you. By familiarising yourself with the platform, you have the opportunity to use the tools available on the platform with greater efficiency when you start trading using your actual forex trading account.
3.Get comfortable with trading without emotional interferences
Traders dealing with any kind of financial instrument will agree that it is important to trade with emotions. But this is something that is not usually mastered very easily. In fact, many seasoned traders also end up losing considerable sums of money when they allow their emotions to rule their decisions. With the help of an Forex demo account, you have the opportunity to learn how emotions can lead you to making the wrong decisions in trading.
4.Test trading strategies
As you start exploring the different currency pairs in which you can trade, the tools you can use and the patterns you follow, you would want to test various strategies and figure out successfulness. It is best to use a demo account instead of using your actual account because there is a chance that these strategies may require you to improvise before you start using them in real. Identify your best strategies and test them a number of times to ensure that they are effective enough to be used in the live trading platforms.
5.Identify the most suitable trade timings for you
The Forex market operates all the time. You can go online anytime to trade in various currency pairs. But without a definite routine, you may find it difficult to trade in forex. The forex demo account helps you identify how the market works during different timings. You will notice that in certain hours the market is more active than other times. Keeping your strategy in mind, you can identify the most suitable timings for forex trading.
All beginners prefer using a demo account before they can start trading through an actual account. We encourage this because it reduces the chances of losses and gives you the opportunity to completely familiarise yourself with the platform before you start trading in real. Our forex demo account provides you with all tools and trading opportunities, just like the real platform.
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