Getting Started with Your Practice Account

The best way for newcomers to get a handle on what currency trading is all about is to open a practice account.

Almost every forex broker offers a free practice account to prospective clients; all you need to do is sign up for one on the broker’s Web site. Practice accounts are funded with “virtual” money, so you’re able to make trades with no real money at stake and gain experience in how margin trading works. Practice accounts give you a great chance to experience the forex market.

You can see how prices change at different times of the day, how various currency pairs may differ from each other, and how the forex market reacts to new information when major news and economic data is released. You also can start trading in real market conditions without any fear of losing money, experiment with different trading strategies to see how they work, gain experience using different orders and managing open positions, improve your understanding of how margin trading and leverage work, and start analyzing charts and following technical indicators. Practice accounts are a great way to experience the forex market up close and personal. They’re also an excellent way to test-drive all the features and functionality of a broker’s platform. However, the one thing you can’t simulate is the emotion of trading with real money. To get the most out of your practice-account experience, treat your practice account as if it were real money.

[ForexGen Live Accounts Contest]

Trade, Compete, and Win - Begins the 1st of Every Month!
ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest

this is a live trading [competition] open for all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes.

What makes this contest unique?

All prizes are CASH prizes with no restrictions on withdrawing the prize money! How Do I Enter?
You don't have to pay any fee to enter this contest, all [ForexGen] mini Accounts with a balance of "$1000" and a default leverage of 1:200 are entitled to participate in this contest upon their account holder request by sending an e-mail request on live.contest@forexgen.com

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com