Global Demo Trading Contest - Get Closer to Trading Live

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Why trade in the MG Demo Contest?

The MG Demo Trading Contest is an on-going competition open to global contestants which allows participants to operate a virtual currency trading account with the following benefits:

• Further prepare traders for live trading.

• Chance to win $1500 or $3000 contest credit to begin live trading ($3000 contest credit applies to the Ultimate Demo Contest participants)

• Receive free access to the Charts & News Software for the length of the contest, a $44.95 per month value.

• Low cost to enter: $44.95 per month for the Monthly Contest or $500 per year for the Ultimate Demo Contest

• Ease of funding by wire transfer, check or credit card from anywhere in the world.

• Trade from anywhere through Internet, your web-enabled PDA or Mobile Phone.

Click Here to view Contest Rules
To View Current Contest Standings

Forex Demo Account

A demo account is a valuable instrument that can introduce a novice to online trading or allow an industry veteran to sharpen his/her trading strategies.

• Demo-Trade via MG DealStation in a Real-Time Environment
• 30-day free trial of the Charts & News software and Dow Jones Newswires live feed

Client Information

How to Get Started

	QUICK LINKS FREE DEMO ACCOUNT OPEN AN ACCOUNT

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.

Step 4: Stay Connected:

It is impossible to follow the forex market 24 hours day, 7 days a week. For better management of your account, we encourage you to use our Wireless Service and alert!FX™.

Step 5: Open a Live Account.

If you feel ready to trade this market, fill out our application forms and submit them today. Since the emotional factor may be higher than it was when you were demo-trading (as you are now committing real money), it is essential that you develop an effective strategy while demo-trading and plan to abide by it when trading your live account

Step 3: Manage your money wisely.

You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1) How much am I willing to risk?
2) What is my upside and downside potential?
3) What are the market conditions? (Is the market volatile or calm?)
4) What is the logic behind entering this trade?
5) When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

Before entering an order, you should consider both your entry and exit points. One of the mistakes most commonly made by traders, especially new traders, is letting emotions get in the way of their strategy.

Step 2: "Study, Study, Study".

Forex traders use fundamental analysis, technical analysis, quantitative analysis and sometimes a combination of all three to make their trading decisions. Fundamental analysis involves the use of economic, financial and political news to determine trading decisions. Technical analysis involves the study of Charts to predict future price movements based on past price patterns and trends. Quantitative analysis consists of the use of preset statistical models and properties in quantifying price formations such as averages, retracements as well as identifying oversold and undersold situations.

DealStation Video-Tutorials

The MG DealStation tutorials are designed to serve as audio-visual guides for traders to gain familiarity with the MG DealStation Trading Platform.

Downloading the DealStation Trading Platform Logging-in to the DealStation Placing a Market Order Placing a Stop Order Placing a Limit Order More...

Step 1: "Practice makes perfect"

Demo trade. The demo account was designed to help traders gain familiarity with the speed and movements of the market. When you are demo trading, you should learn how to: 1) place market orders to enter a trade, 2) place stop-loss orders to protect your positions, and limit orders to take profits, 3) place OCO orders and If Done Orders to execute more advanced strategies.

How to Get Started

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.

What is Forex (Foreign Exchange)?

	QUICK LINKS How to Get Started Free Demo Account The MG Advantage Open an Account

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.

Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.