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A Forex demo account is a type of account offered by some brokers to give you a demonstration of how the forex market works and how to trade. 

When you sign up for a forex demo account, you will be given a certain amount of play money, sometimes $10,000 or even $100,000. You can then use this play money to make virtual trades through your forex demo. 

Read on for some of the advantages of opening a forex demo account. Advantages of forex demo accounts:

1. Forex demo accounts are completely free, meaning, you don’t have to invest your hard-earned cash to give it a shot.

2. You also don’t face any risks with forex demo accounts, because they only make use of virtual play money.

3. A forex demo account allows you to test the trading platform of a particular broker, so you can learn how it works and how to use the platform when investing your real money.

4. Forex demo accounts give you a viable means for creating and testing trading plans and strategies.

5. If you trade on your forex demo the way that you would trade in real life, then you can learn a lot, which you can put to use in live trading situations.