Simulated trading in FX helps investors practice buying or selling currencies in a live, but mock environment before risking any real money. For that reason, taking part in an online trading simulation process is essential for the long-term success of any trader. The lower the experience level of a trader, the longer that trader should be actively involved on a simulator.
Before using a trading system on demo mode, it is important that the demo environment provides lifelike results. The simulator should allow the trader to execute practice trades at prevailing market prices using real time, streaming data.
Our MT4 demo meets all these requirements and more. Before putting real money to trade currencies, a trader can sign up for a 60-day demo that provides lifelike executions, streaming charts, technical analysis studies, news, and other features. A screenshot of the system running in simulation mode is provided below.
The example above of the trading simulator shows the "Market Watch" window with some of the currency pairs that are available to trade. Most of the pairs shown consist of the major currencies: the US Dollar (USD), the Euro (EUR), the Japanese Yen (JPY), the British Pound (GBP), the Swiss Franc (CHF), the Canadian Dollar (CAD), and the Australian Dollar (AUD). The real-time, streaming graph shown is a candlestick graph of the Dollar / Yen (USD/JPY) exchange rate in the 1-hour timeframe (H1). The graph is enhanced with a technical analysis study consisting of a 14-period Simple Moving Average and a horizontal channel between 83.16 Yen and 83.77 Yen.
Whether you are an experienced trader or a novice to the trading world, you can benefit from taking our simulator for a test drive and seeing how good you are at trading FX. If you have any questions about the simulation or any other of our services, don't hesitate to contact us.
You may also want to read our "Demo on Steroids" blog series that will show you how to transform MT4 into a one-click execution platform and this post, which discusses the importance of considering liquidity and latency when it comes to simulated trading.