Are you new to trading forex or an experienced trader that wants to test a new strategy under real market conditions? Forex trading is a practice that involves a strong perception of the currency markets, skill, and excitement. It involves researching the economy in depth, identifying and seizing opportunities and having a strong sense of…
Are you new to trading forex or an experienced trader that wants to test a new strategy under real market conditions? Forex trading is a practice that involves a strong perception of the currency markets, skill, and excitement. It involves researching the economy in depth, identifying and seizing opportunities and having a strong sense of self-control over your actions. Forex trading also involves high risks, which is why newbies to the industry should always take baby steps to minimize their losses. The best way to do this is by starting your trading on a demo account
What is a demo account in forex trading ?
A forex demo account is a trading account that gives traders free, unlimited access to a trading platform where you can learn or test new trading strategies under real market conditions, using virtual money. Here, traders can change their leverage, adjust or reset their starting balance or profit/loss at any time, and use different trade sizes to test their comfort level.
Most top forex brokers allow traders to open a free demo account on their platforms, providing them a simulated experience of what it will be like trading forex on their platform. These pretend accounts usually contain most, if not all of the features and capabilities contained in a real account. This way, it allows newcomers in the market to learn how forex trading works and test their skills and processes with zero risks.
Benefits of demo accounts:
The account allows new traders to enter the market
It lets traders try out a new broker’s trading platform to see if it meets all their trading needs.
It lets you try out all the features and other services a broker is offering.
It provides a great platform where traders of all levels who want to practice and develop new strategies can learn
It allows traders to discover the role of technical and fundamental analysis in trading. Traders get to trade in real time and analyze the market using technical and fundamental indicators without risking their money.
It allows traders to experience first hand the swift pace with which markets move and the significance of risk management.
Allows traders to develop and adapt their trading strategy as the market evolves and fluctuates.
List of Forex brokers Offering a Demo Account
Min Deposit: $1 Spread: From 0 Pips Leverage: 3000:1 Regulation: CySEC, IFSC
Regulated: FCA UK (#186171), CySEC (#259/14), CIMA (1442313) and DFSA (F000048)
HYCM forex brokers recognize the need for having a demo account to help beginner traders learn how to trade, and allow experienced ones to try out new strategies in a risk-free environment.
The HCYM demo account is designed to closely imitate a real FX trading environment that is based on true market conditions. Traders get access to a HCYM demo account with $50000 virtual cash. This account is accessible by registering through the site and creating a demo account. Traders can run their demo account for as long as they want.
Spread: From 0 Pips
Min Deposit: $1
Regulated: CySEC, IFSC
The FBS demo account is easy and convenient to open, All you need to do is submit your name and email address and your demo account will be ready in less than 2 minutes. This demo account allows new and experienced traders.
The demo account is absolutely free with the deposit being created by the system. However, traders cannot take part in trading of the prize sum of no more than $1,000. This account also allows beginner traders to take part in a special FBS Pro Demo contest.
Spread: Fixed and Variable
Min Deposit: $100
Regulated: CySEC, FSB
InstaForex traders can now open a fully functional forex demo account on InstaForex using the MetaTrader 4 platform. The MetaTrader 4 is considered the most popular solution in the forex trading sphere. This platform offers its services on numerous currencies, features CFDs and US stocks CFDs and trades on gold and silver among others.
To start trading on the InstaForex demo trading account, traders are expected to open a forex demo account, get an account number and password. They should then download the MetaTrader platform and log in to it using the provided data to start trading forex on the demo account.
Spread: From 0 Pips
Min Deposit: $5
Regulated: ASIC, CySEC, FCA (UK), IFSC Belize
XM lets traders keep their demo account parallel to their trading account for an unlimited amount of time. Traders have the liberty to use their demo account to test new strategies and then us the most effective one on their real trading account.
With XM traders can set up a demo account with just a few details and gain access to a virtual balance of $100,000. Their demo account is unique in that it offers the exact same features as the real thing. Also, there are no time limits as to how long you can use your demo account.
Spread: From 0.2 Pips
Min Deposit: $5
Regulated: FSA (Saint Vincent and the Grenadines), CySEC
OctaFX trading platforms offer traders a demo account that is a practice account, which is accessible to traders through a simple registration process. This account provides the same trading experience as their real accounts with the only difference being that the funds used to trade on this account are simulated. Traders don’t trade with real cash, ensuring that it is completely risk-free. Traders, whether new or experienced get accustomed to the range of features on the platform, and familiarize with the dynamics of currency trading markets before committing any real money.
Forex.com offers new and experienced traders a free demo account where they can practice new trading strategies risk-free. The Forex.com demo account is a core element of their educational effort. It familiarizes newbie traders with tools and features of their platform and allows the testing of trading strategies in a risk-free environment using virtual funds. This account allows them to experience the unique benefits of trading on a MetaTrader 4, which is considered the most popular solution in the FX trading sphere, platform first hand.
This demo account is limited to 30 days and offers traders $50,000 in virtual money.
When trading forex, not everyone will understand how it works from the get-go. And, although some traders may understand the basics of how the currency pairs work and operate, there is no better way to put their knowledge to the test than through trading in a risk-free environment. Therefore, take advantage of these forex demo accounts to master your trading strategy. We highly advise traders to use these accounts until they develop a solid, profitable strategy before thinking about putting real money on the line.
EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).
This is another step towards developing our crypto portfolio.
Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.
says Denis Golomedov, ;Marketing Director at RoboForex.
Roboforex and Cryptocurrency
This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .
it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.
as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.
RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.
RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).
Indicted: Local bitcoin Trader Jailed for Money Laundering
Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.
She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.
money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.
Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.
The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.
Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.
Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.
She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.
According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.
The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.
Just One of Many
That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.
One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.
Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.
He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.
Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.
Blockchain is the technology that supports the digital currency or cryptocurrency called Bitcoin –
however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.
It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.
According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.
Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:
The blockchain data structure.
Public key cryptography.
Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.
The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.
But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.
The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.
The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.
What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.
Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.
The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.
Why You Need to Get Onboard With Blockchain!
Why You Need to Get Onboard With Blockchain!
Visit bitfortune.net . for more interesting Infographics