What benefits will I derive from a Forex demo account?

[Danny]

 

[Brian]

Hello Danny,

Opening a demo account should be the first objective of a prospective Forex investor. From here, you will know the trading strategies you can use and learn the market patterns without using your money.
A demo account enables you to understand how the Forex trading platform works. You will learn how to place market orders and analyze the charts that you can use to know the market's technical analysis.
It also allows you to see the market movements. You will understand how the price changes, and you can make the right decision for you.
 You also learn the various risks that you will face when the market moves in a certain direction. It helps you know the risk associated with leverage such that you know that there is a possibility that you can make a good profit and, at the same time, make huge losses. 
A demo account also allows you to study the market trends, check the changes in prices of various currencies, and how they are related to one another, and from there, you come up with your trading techniques.