With the increasingly popular trend of trading forex, many are tempted to try out this new, fun source of income. But it isn’t easy to simply start trading. That’s why there is a learning platform fxSimulator that is so helpful, precise and reliable that successful brokers offer it to their clients to improve their trading skills.
What exactly is forex?
For those who are not familiar with forex (also known as “FX” or “the currency market”), it stands for foreign exchange market and it is a place for buying, selling and exchanging currencies. It is by far the largest market in the world in terms of trading volume.
Anyone with a computer and the access to the internet can try out forex trading and so there is no wonder that in recent years, it became a very popular source of income; from people who treat forex trading as if it were their day job to people who simply hop in for a few minutes a day to make some money on the side.
Why do I need a simulator?
With forex becoming more and more of a trend, it also brings a lot of newcomers to the market. They don’t know what to do, how to watch the chart, what signals to look for and what situations to avoid. They try to jump in randomly, lose all their initial capital and get discouraged because forex trading seems to be all about luck to them. However, that couldn’t be further from the truth. There are many things that can be learned about the market. And traders, beginners especially, need a platform to be able to understand those.
It’s okay to make mistakes. They’re inevitable and it’s how we learn. And that’s what makes the big difference between trading on the market using a real account and trading on a learning platform. On their learning platform, you’re allowed to make mistakes.
Why it’s better than demo accounts
There are many advantages that come with using their platform, but the one that’s without a doubt the most useful to beginners are the time control options.
Real markets, even on demo accounts, have trading hours. The market opens in the morning and closes in the evening, exactly when most working people would sit behind a computer, which limits traders to a time schedule. On the weekends, it doesn’t even open at all. With fxSimulator, you can trade at any time. You can pause the graph, fast-forward when nothing interesting is happening, jump forward or back in time, even restart the entire simulation when you want to start anew.
But just looking at a single graph isn’t all too helpful to a beginner. That’s why fxSimulator offers a wide selection of helpful indicators that help you understand the signals on an entirely new level.
On top of it all, you don’t run out of money, you’re not risking losing your capital, it’s all fictional – all except the market data, because they’re frequently uploading historic data so you’re sure you’re getting the real experience. Every single jump is exactly as it happened on the real forex market.
Free for as long as it suits you
By now you’re probably thinking that this can’t be for free. Surely, they have a short trial after which you either pay a lot of money or lose the product. That’s where you’re wrong.
Another amazing thing about fxSimulator is the fact that for as long as you’re happy with it, you can keep the free version. There are no caveats – no credit card information upon free registration, no time limits. The difference between their Free Plan and Pro Plan is a few extra features for more experienced. We’re not saying it’s not worth upgrading to, there is a lot to appreciate, but a total beginner will be happy just covering the basics before they decide to dive deep into something more advanced.
Still want to learn more?
If you head over to their website, there’s many more helpful lessons for beginners. They start from the very first steps of your trading journey like mental preparation and dedicating your time to starting an account. Then they provide you with helpful explanations about things such as news and signals – all the way to choosing your trading strategy.
They are actively expanding this section of their website and you can definitely count on learning something helpful when reading through these quick lessons.