); This gives you the experience of trading real money and limited risk. These accounts will give you a far better chance of finding out if you have what it takes to succeed in forex trading, than a demo account.A demo account is really only useful for learning the mechanics of trading and nothing else.Keep in mind forex trading is not just about having a method – it’s about having the discipline to apply your method. Its lack of discipline under pressure which causes the bulk of forex traders to lose. Keep in mind if you don’t have the discipline to apply your method, you really have no method in the first place.Forex brokers over the last few years have started to provide a lot of services to help traders maximize their trading experience and this service is a good one for all novice forex traders to consider.A protected account gives a more authentic trading experience than a forex demo account and with limited risk, is an option all novice forex traders should consider.

); With high technology improving and increasing everyday, you need to consider purchasing a Forex system that is designed to update itself as the company changes and you learn. Most of these systems have a demo account and this is where you want to begin.There are other companies that provide demo accounts but they do not provide help while you are learning the process. Your best bet is to find a Forex company that offers a 30 day trial and broker assistance that can help you with the demo system on a daily basis.

); The Forex market has suddenly become very very appealing, if you can make this much money in the practice area imagine how well off you would be if you were using real money? This is where things go wrong, you then go ahead and open a real Forex account and deposit your own cash.Your confidence is up and you feel like you know what you are doing. You make a risky trade with your own cash and it fails, suddenly your Forex career is over and you are sat looking at a significant loss, it seems when its your own ‘real’ money the practice you got with virtual cash counted for nothing.Of course if you take things slowly and carefully you can avoid this and become a successful trader, but you have to have that self control. Practice accounts are very useful, but only if you carry out trades exactly as you would if it was real money. Never make a trade in a practice account that you wouldn’t make with your own cash!To help get around this several brokers now offer mini-accounts with deposits as low as $25. This is virtually a practice account anyway with such low deposits, however, its still your own cash so you are more likely to make realistic trades and not risk big time trades.At Investawise we feel this is the best option, sure use a free practice account for a week or two while you learn the basics of Forex trading, but then open an account and start with low funds, never jump both feet first into currency trading, success comes from patience, awareness, and discipline.

); One of the first things to avoid when choosing to open an account is over trading. It is better to stick to three trades in a day in the initial phase. Traders who get greedy often have to incur losses due to lack of experience. Traders who are looking to gain Forex signals must sift through the list of pro traders in the market to select the one with the best offer. All these aspects are important when opening a Forex account as they can help traders learn more and experience more to gain from trading in lesser time. Those who open an account must make sure that their capital trade does not exceed two percent. Some information that is required for opening an account includes, but is not limited to:1. Name2. Address3. Email4. Phone Number5. Account Currency Type6. A password for your trading account7. Date of Birth8. Country of Citizenship and much more