A demo account is great for learning the basics of currency trading but doesn't help traders trade better - Why? Because money isn't on the line and emotion is absent.
Now if you want to try with real money and simulate real conditions there is a great alternative - a protected account.
You take fixed risk with a test amount of money and they cover your losses at the end of a set period and you get the profits and during the set period you can trade your leverage of your initial capital regardless of if your in debit or not!
This is a great way to sharpen your Trading skills, with real money on the line and be fully protected at the same time.A Protected Account works as a funded demo account in which you pre-determine your risk level. Among its features are:
Fixed Initial Risk
Trade up to 100 times your initial deposit even with a negative balance.
Trade As Often as You Wish
Make as many trades as desired, 24 hours a day, using any currency pair.
Profits Yours Losses the Brokers
At the end of the period, any positive balance is yours to keep. If there is a negative balance, the broker covers it. A regular demo account, though a very useful tool, does not simulate the feeling of trading real money on the Foreign Exchange Markets.
The Protected Account acts as a bridge between a demo account and a real one, providing an authentic trading experience, with pre-defined risk.Superior to Demo accounts?
As people who provide forex education we have always warned of trusting the results of the demo account experience, as there are no emotions present and trading is a game of emotions and controlling them.Feel the experience with set risk.
With these types of accounts we feel brokers are providing a good service for novices, as many novice traders are nervous they need limited risk - but they also need to trade real money for a period to feel what the trading experience is all about.
If you're thinking about trading and done well in a demo account you might want to try one of these accounts because as the old saying goes:"Seeing is believing but feeling is the truth". With the above account for a few hundred dollars you get to feel the experience which will do a lot to determine whether you really have what it takes to make money in the worlds most exciting and lucrative investment medium.