![uk forex trading courses uk forex trading courses](https://i.pinimg.com/736x/36/81/cc/3681cc3083d4dcac5c34795541ec5544.jpg)
Almost all brokers offer 24-hour customer support during the workweek, but some brokers still only offer office hours support. So, if you want to switch brokers in the future – or use multiple brokers – and want to trade stocks, be careful which platform you start with.Ĭustomer service: Demo accounts are mainly used by beginners, and beginners often need customer service support. With some MT4 demo accounts, you will not be able to trade stocks, as MT4 does not connect natively to centralised exchanges.
![uk forex trading courses uk forex trading courses](https://d.ibtimes.co.uk/en/full/1358257/trading-floor.jpg)
MT4, MT5 and cTrader can be used with multiple brokers. The most popular trading platforms are MT4, MT5 and cTrader, but many brokers will also have their own trading platforms.
#UK FOREX TRADING COURSES HOW TO#
Trading platform: The first thing you should learn with a demo account is how to manage your trading platform. If you’re interested in trading commodities or stock CFDs, make sure that your demo account broker offers those instruments. If your demo account does expire and you still want to keep it open, it is always worth getting in touch with your broker’s customer service to ask them to reopen it or extend it.įinancial Instruments: All Forex brokers in the UK will offer Forex trading, but most traders also want to trade other instruments. Even experienced traders use demo accounts to test new strategies or try out trading on new assets. As a general rule, demo accounts should always be kept open.
![uk forex trading courses uk forex trading courses](https://resources.reed.co.uk/courses/coursemedia/233450/557761d6-c4da-4f40-a90b-eff8a5c1226b.jpg)
The best demo accounts will never expire or will only expire after a period of inactivity. This will give you a better idea of the limitations and market conditions you will have when trading.ĭemo Account Expiry: Some demo accounts will expire after a set period of time, usually 30-90 days. When you feel almost ready to start trading with a real account, you should use the same amount of money in your demo account as you plan to have in your real account. Some brokers will offer as little as 10,000 GBP, while others will offer 100,000 or even 1,000,000 GBP. But most of these smaller regulators do not require brokers to offer negative balance protection or even segregated accounts, which is an unnecessary risk when using a real account.Īccount Size and Currency: Different Forex brokers will give you different amounts of money in your demo account. Regulation from these small island countries is not an issue when trading with a demo account. Many non-UK brokers will be regulated in small island states like Vanuatu, Seychelles or Mauritius. Other good regulators include CySEC in Europe and ASIC in Australia. FCA regulation ensures that the Forex platform is secure and trustworthy and that traders are treated fairly. UK brokers are regulated by the FCA, which protects UK residents. Regulation: Even with a demo account, regulation is important. UK traders need to consider the following when comparing demo accounts. While beginner traders will use demo accounts to test trading platforms and learn how trading works, experienced traders will use a demo account for testing new strategies without the risk of losing capital. Demo accounts are a risk-free setup, which lets traders learn about Forex trading without losing money. Beginner traders should always use a demo account before using a real trading account.