A trading demo or simulator is a computer program that allows a potential trader to practice buying and selling in real time without risking any capital.
A simulator should be as realistic as possible, allowing a trader-in-training to practice in actual market conditions. There are many trading demos in existence today, allowing traders to practice trading stocks, futures (like the e-mini’s), or currencies. Top-of-the-line trading platforms to trade stocks (with direct access capabilities) can cost about $300 a month to use. In the late nineties, advancements in Internet technology began opening the currencies (forex) market to retail investors, bringing a rush of free or low-cost demo platforms to the market that are extremely lifelike.