Virtually every single forex broker or brokerage offers a free forex trading simulator that will teach you how to trade, and how to use the trading software, without risking real money. This free applications should be utilized by anyone who wants to learn how to trade forex, and do so without any risk of capital.
Free Forex Trading Simulator
One of the most popular free forex trading simulators is the one offered by Oanda. Also known as a demo account, or a practice account, Oanda’s free simulator will allow you to practice using indicators and other items specific to the platform.
Why Use a Forex Simulator
Unfortunately, nearly 95% of all traders who trade real money fail within a year. Usually, this is the result of poor trading form but can also be due to other factors including not enough time with a free forex simulator. Before trading with real money, you should be competent with the forex platform and have at least a few hours worth of demo trading through a free forex simulator.
Start Your Forex Simulation
A new trader should never turn down the opportunity to practice forex for free. Getting started with a forex simulator, demo account, or practice account will enable you to learn the techniques of forex trading without any costs.
Not interested in testing different indicators? Check out our article on trading forex without indicators.