Forex Trading Simulator is a program that allows you to simulate the behavior of your trading deposit based on the rules and historical information of a trading strategy. Usually, the output information is generated in a consolidated report, through which a market investor has the opportunity to analyze specific parameters of his trading strategy and make an informed decision on their basis. Also, it is possible to generate summary reports that will include a variety of data.
Of course, different trading simulators have varying degrees of reliability. For this reason, developers of trading simulators, as a rule, do not give guarantees for the complete elimination of errors. Besides, the creators of many trading simulators are trying to implement thoughtful functionality:
- intuitively simple interface:
- numerous tools for conducting trading:
- various analytical tools;
- tips and news for novice traders;
- All these aspects allow the market investor to practice and improve his skills.
Why trading stimulator are necessary
According to Google, trading simulators are needed for a trader to more effectively test their trading strategy. In this case, on historical data or a virtual account. The simulator allows you to understand how the plan behaves in a particular situation, so to speak – in conditions that are closer to “field conditions.”
Special programs for training
Before trade in the real market with real brokers, many traders undergo training on simulator programs that make it possible to simulate actual events that are possible in the real market. One such program is the program Forex Tester. You can read about it in most practical manuals for novice traders.
Forex Tester is a training program for practicing forex trading that enables novice traders to get useful experience and to hone their trading skills immediately before using them on real accounts. It is simple, and you should follow the necessary instructions. This forex trading simulator has many benefits that are especially important for novice traders.
The benefits and useful options
This software also updates regularly has all the necessary functionality for a high level of testing and subsequent optimization of trading strategies. It has a lot of useful functions, which include:
- setting the feed rate of quotes;
- possibility to customize various graphical constructions;
- option to import an unlimited number of currency pairs in different text formats;
- changes in exchange rates for any period of history;
- a significant amount of indicators installed.
The software for simulation implements two operating methods – the first is the testing mode; the second is the editing mode.
In a testing mode of the platform’s work, there is the ability to test trading systems, view current statistics, charts, and other indicators of the system.
In the editing mode, there is the ability to save data, implement all kinds of editing, to choose and prepare information for testing.
What is a demo account
A forex demo account is a popular kind of free training account (simulator, simulator) of a real game in the Forex market. Trading on a demo account is carried out with virtual money. You can add to your account virtual money in unlimited quantities without leaving home for visiting the bank. Typically, this type of account serves three purposes.
Demo account as a study account
Firstly, a demo account of a forex trading simulator helps you to learn, it is used for those who are not familiar with the forex market, it allows you to study the market in a training mode without risking your own money, despite the fact that the game is played according to the rules and quotes, which are absolutely no different from real trading on the market, but you won’t contact with real brokers. Therefore, a demo account on forex is a great training program for future traders of the Forex market.
Demo account as a simulator of program TradingDesk Pro 5
Traders who have long been trading in the forex market and now prefer Forex Euroclub should familiarize themselves with all the features and policies of the TradingDesk Pro 5 trading terminal to avoid technical errors on real accounts (opening positions in the wrong direction, errors in the price of orders). For this, trading in demo mode is available (for this, you may find the forex simulator).
Demo account as the simulator of trading strategies
Clients who have been working with Forex Euroclub for a long time (10-15 years) are continually testing new methods of working in the market:
- various techniques of receiving the profit with minimal losses;
- methods of analysis of market position;
- transaction methods.
Naturally, to avoid the risky actions associated with the loss of real money, this testing is initially carried out on demo accounts. Therefore, the situation when the owner of an actual account also has 1-5 demo accounts is ordinary. We do not limit the number of training accounts per person.
When you create the demo forex account and download all necessary data, all trading conditions correspond to the trading conditions on live accounts, except that pending orders (GTC, stop, limit) are executed at one quote (on live accounts at three), also, an automatic system services the demo accounts..
Trading simulators are handy tools for conducting tests, as well as an indispensable assistant in the work of any currency investor. Nevertheless, do not forget that any software is primarily software and requires proper handling.