Since the early 1970s, with increasing internationalization of financial transactions, the foreign exchange market has been profoundly transformed, not only in size, but in coverage, architecture, and mode of operation. That transformation is the result of structural shifts in the world economy and in the international financial system. Among the major developments that have occurred in the global financial environment are the following:
You are a new forex trader, recently joined the game. The most common way to start practicing forex is to open a demo account, where you can practice your strategy with virtual money. How long should you trade with demo account before switching to real cash? Is it necessary to open a demo account or you should just jump in? Do demo accounts differ from one broker to another?
The first thing you should realize is forex demo accounts may differ from one broker to another, therefore even when it comes to practice you have to find the right broker! What are the main differences in free demo accounts? Here are some:
Although forex market is available 24/5 and theoretically you can trade all the time, there are certain days and hours where all the markets tend to have more action. So instead of turning into a sleep-deprived-pip-thirsty zombie, it makes more sense to carefully choose the time to trade and the time to rest.