What is a virtual forex account?
Question by hisoka147: What is a virtual forex account?
I’m ignorant about forex. I’ve just seen these as an ads from a certain website where I can open a free virtual forex account. Anybody who can explain what is it all about?
Best answer:
Answer by Bilal Yücel
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Know better? Leave your own answer in the comments!
It is a Simulated Forex Trading account, you make real live trades and real prices, but what you make or lose, you will never pay for. It is the best way to learn.. Using Virtual money…
It is a Demo account, so you can learn the market and the software….
It is a practice account where you can do some actual exchanges with different types of currency pairs. It is called virtual forex account because it consist of virtual money or fake money.
A virtual account sometimes called a demo account is what the broker will offer you so that you can test out their platform. You would normally see and perform the actions of a real trader accept that you will be using virtual money instead of real money.
A demo account is a great way to test out different brokers and also test out your trading strategies without costing you anything.