Experience Forex Trading Without Even Spending 1USD | Free Demo

Practical learning is times better than visual, theoretical learning. This applies incredibly well to Forex trading. No matter how many blogs you read and how many videos you watch, no learning experience comes close to Forex demo trading. A Forex demo account simulates real-time trades that currency players can learn from. Starting off, foreign exchange can be a challenge. Entering the live-trading markets without practice will be an expensive ordeal! Several traders lose big money to trades they aren't experienced enough to face. 

With a good amount of demo practice however, they will be adept at the currency trading basics and be able to hold their own against erratic market developments.
 

Is Forex Demo Similar To A Trade Simulator?
 

Demo trading platforms are completely different. A simulator comes with a few years' trading data as a preset, thereby limiting the flexibility. Demo trading platforms, on the other hand, simulate trades with real-time data observed in day-to-day trades. So on a Forex demo account, you will be able to make more realistic trades and learn how to approach the live-trading markets.
 

Working with past data will do you no good. As a Forex trader, you have to be aware of the current market conditions and be able to adapt swiftly. In a live trade, this might be difficult. Hence, on a demo trading platform, you will get to experience trades as they come and become adept at the currency exchange.
 

Advantages Of Using A Forex Demo Platform:
 

Learn Forex Trading for Free using a Demo Account

1) You can learn how to operate Forex trading platforms, which is something every trader needs to learn at one point. Platforms like MetaTrader4 are the ones you will be working on, and knowing how to use them will be a huge advantage. 
 

2) Though meant for learning purposes, demo platforms come with the complete collection of Forex trading currencies, allowing you to experiment to your heart's content. Having the knowledge of different Forex currencies prior to trading full-time will keep you prepared when a different currency pairs sees market traction.
 

3) There are no caps while using demo platforms; if you want to try demoing with a million dollars of virtual currency, you can go for it!
 

4) Since Forex demo accounts work with virtual money, you don't have to worry about losing capital to risky trades made while learning.
 

5) It allows you to measure how good a broker's customer service is. On a demo platform, you can ask for your broker's guidance and see if said broker is good for you.
 

Be it practicing Forex trading strategies or trying out currency exchange for the first time, a good demo experience is no less than magic! Get yourself a world-class demo trading platform today from WesternFX! With our stellar trading account to work on, you will master the art of foreign exchange in no time. Get a quote today, call us!

7 Tips To Help Forex Trading Beginners Find Profitable Starts

Feeling overwhelmed is just one of the many heavy sentiments that goes through the mind and heart of a beginner. Forex trading is a field where even the adept few have a tough time, so in all obviousness, when a beginner joins the game, the road ahead is going to be riddled with difficulties! The important aspect of Forex is that many beginners fail not due to their technical ignorance, but due to a lack of preparedness.
 

Learning the various technical nuances of Forex trading right as you begin is a tough task, which is why sticking to some basics is enough in the initial stages. However, it is the smaller mistakes like lack of stops, getting greedy and having unrealistic expectations that lead to traders seeing early downfalls.

Here are 7 tips to help you find the right start, and grow thereon as a successful Forex trader:

Tips for Forex Trading Beginners to Find Profits

1) Do Your Research Well Before Trading: Last minute preparations aren't the right approach to Forex trading. Predominantly a knowledge and analysis-intensive field, foreign exchange is a domain which works on data. Aspects like currency value fluctuations, global economic movements, trend momentum etc., are some of the many determining factors in achieving Forex trading success. In order to understand the underlying markets movements behind trends, a good amount of research has to be put in.
 

2) Practice Thoroughly On Demo Platforms: Honing your skills can't be done on live-trade markets, they are just too volatile. You will need a gentler environment, one that is flexible enough to let you learn extensively but also doesn't put you against big market risks. The best way to go about this is by learning on a demo platform. These Forex demo accounts are designed to provide traders with a simulated world where they can trade with virtual capital, thereby limiting any risk repercussions, and also letting you explore the vast nature of trade’s first-hand, while tinkering your Forex trading strategy to perfection.
 

3) Stay Updated With Current Market Events: As a Forex trader, it is substantial to know what goes on around you in the markets, because you're a part of them. Economic events, social disruptions and political happenings affect the behavior of Forex trading markets and cause currency value fluctuations. To see success amidst all this volatility, knowledge is an indispensable requirement.
 

4) Avoid Overtrading: Money is indeed wonderful, so much so that no one can get enough of it. There is always a more expensive car or a phone you can get, even if the one you have serves its purpose! Getting greedy in Forex trading has carried many to their staggering downfall. When you start seeing good profits, it is natural to want to go a step further and make even more. If you do succeed at it, well and good; the problem is when your actions backfire and you lose more than you made! Avoid this altogether, don't overtrade.
 

5) Keep Your Expectations Realistic: "I placed a profitable trade, I should be making big profits." is a wrong mentality to have as a currency trader. With such a tremendous profit potential, it is natural that expectations will start piling up. However, unrealistic expectations will only lead to you feeling let down when what you wanted to happen doesn't! The $6 trillion market value doesn't have a label saying "Every Forex trader will make good money." Give your best shot at every trade, small and big, and once placed, profiting or not shouldn't be your worry!
 

6) Take Losses As A Learning Experience: Losing money is natural, and is known to be one of the greatest mentors in Forex. Bad trades might happen as a result of your mistakes or the markets behaving erratically. When money is lost, all isn't. Divert your focus towards the positive aspects of it, no matter how bleak, and use the losses made to push you further towards improvement.
 

7) See Your Trading Plan Through: Many traders give up on their Forex trading strategy before it can get to work! A Forex trading strategy isn't going to bring in expected results as soon as it's placed; market conditions have to be right and trends should be in accordance. Only when a number of parameters are met can you expect to see profits. However, this doesn't mean you change strategies midway! Doing so only takes you away from what could have been a profitable trade.
 

Worry not, though Forex trading is an intensive domain, you will find your way around to success in no time! Don't let the hesitation keep you from reaching the stellar levels you're meant to. Join hands with WesternFX today, and take off to starry heights! Our experts will provide you with incredible guidance through all your exchanges, and make sure you grow into a fine Forex trader at the end of the day. Call us today and let's have a talk!

A Brief Guide on Various Forex Trading Strategies in 2019

The modern trader's favorite investment market, Forex trading is today, one of the highest-valued financial grounds for traders. A trading value of $6 trillion floats around, with thousands of traders trying their hardest to get a bite! Despite of the fact that foreign exchange sees crowds in mammoth numbers, the number of players who make it out successful are but a few. Some trades are lost due to sudden market shifts, while some trades fall prey to losses due to an inefficient strategy. At the end of the day, succeeding as a Forex trader is impossible without having a strong strategy.
 

A good Forex trading strategy should cover the A-Z of a trade; everything from trends to loss prospects has to be kept in mind while strategizing. 

Here are 4 Forex trading strategies that you can start implementing right away, and see a massive improvement in your results:
 

Various Forex Trading Strategies Traders Implement in 2019

1) Trend Trading: One of the most dominant approaches to Forex trading in Malaysia, trend trading is the bread and butter for thousands. As a trend trader, your job is simple in description but complicated in application. Market trends form due to economic shifts and new political developments, you have to catch these trends by employing technical or fundamental analysis, and place trades based on the information obtained. Trend trading when done right can be an incredibly rewarding experience, both knowledge-wise and money-wise!
 

2) Breakout Trading: Put simply, breakouts occur when a price breaks out of a particular range. An increase in volume usually causes breakouts, which is what makes this strategy all the more risky. Without proper risk-management, banking on this trading strategy can lead to piling losses! Similarly, the right set of indicators is needed to study breakouts and place trades accordingly.
 

3) Scalping: Scalping has a very simple approach - place trades on smaller timeframes that are bound to see market movements and trends, make small profits, and repeat throughout the day to make huge compounded wins!
 

4) Pullback Trading: A pullback is when a price drops from a particular value and then continues to see a larger rise. With a pullback trading strategy in place, you can place trades that will eventually fall, during which time a stop-loss order will protect you, and then when the trend sees a larger rise, capitalize on it.
 

Forex trading in Malaysia is a daunting challenge; the field is getting increasingly competitive by the day, and you will need the assistance of strong strategies if you want to see results! Talk with one of our experts at WesternFX and learn how to draft winning Forex trading strategies. We will equip you with the best of approaches, no matter how erratic the market is and see to it that you come through successful! Call us now to know more.