Why do novice traders need a forex demo account in Singapore?

Forex market, also known as foreign exchange or FX, is a decentralized global market where currencies are traded. In the past years, Forex has been gaining worldwide popularity. According to the 2013 Survey Report from Forex Capital Markets (FXCM), more than 50% of traders in Singapore are newbies who have no prior trading experience.

Advantages of demo accounts

Before risking their capital, novice traders can benefit from putting their money in Singapore’s currency trading demo account. The main advantage of starting with a demo account is that it allows traders to practise currency trading without losing real money until they’re …