The Forex Simulator Trading Market

This site will provide you with the basic information you need to start learning about and getting involved in the $3 Trillion a day forex simulator trading market. Get hands on experience with forex capital markets with risk free demo accounts to practise before currency trading for real. Profits made through forex simulator trading techniques such as spread bet are tax free in most countries.

About Forex Simulator Trading

The forex market is a global market which spans several regions across the world and crosses many time zones, hence making it a 24 hour market unlike local stock exchanges which only run during normal working hours in the country that the exchange is based.

Trades are made between Governments, Banks, Businesses and Private Individuals via various forex brokers normally using a computer based forex trading systems, just like online stock market trading.

One of the reasons which has made the forex market attractive and into one of the fastest growing markets is it's easy access and volatility. The larger the movements in the market, the greater the scope of making large profits. Many techniques, charts and systems have been developed to spot trades which are highly profitable. Many traders (especially those who are new to the forex market) tend to run systems on demo accounts to test and perfect certain systems before going onto live accounts and placing real trades.

There are literally hundreds of forex brokers who offer a platform to trade the forex capital markets. Even though the majority or forex online trading brokers will accept traders from around the world, it maybe wise to choose a broker which is based in your country or region. Most brokers offer SWAP free accounts which means that you will not pay or be paid interest on these accounts. Making forex religiously legal for certain groups.

Most brokers will allow you to try their trading platform using free forex demo accounts. This will allow you to make real trades without actually trading using real money. This is a great way to get used to the brokers trading platform.

A lot of brokers will allow you to open live trading accounts with a minimum balance of $1. The larger, more established brokers will only allow accounts to be opened with larger amounts.

The 2 most common trading platforms used by forex brokers are:
Online Trading Platforms and the Meta Trader 4 Platform.

Online trading platforms are a way of making trades directly from your brokers website. Different brokers have their own designs and layouts for their platform.

Meta Trader 4 is a Windows based trading platform and is also the most common and one of the most powerful. This is a great stand alone tool for making trades, checking charts, running automated trading systems and it's generally quite easy to use. You will have to get used to where everything is but once you know, it can be very easy to use. Most brokers who offer demo accounts run on the Meta Trader platform so you can play around with the platform using a demo account. If you mess up your demo account you can always open a new one. In fact there is no limit to the number of demo accounts you can open.

Forex Market Opening Times

The forex market opens between Sunday from 5:00PM EST and closes on Friday at 4:0PM EST. It opens in Australasia and closes in North America. The forex market is spread across different regions around the world. When one market closes another one opens, hence effectively making it a 24 hour market for which to trade on.