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To Whom It May Concern:

My name is A. I set up a Meta 4 LiteForex Demo Account starting on June 15, 2009. My account number is 1000xxxxxx SIG Trader 4.

I want to know the name and contact info of the broker for my account as soon as possible. I need to know the payment method because the first week I made 25.25 trading. I am still doing the trading.

My address is bla bla bla.

Please contact me as soon as possible.

Sincerely,

A

I tried to inform this person that I am not her broker and that she should contact LiteForex instead and also that it’s not very justified to ask for a withdrawal from a demo account. I’ve got one e-mail back with almost the same content as the first one. Apparently the hapless Forex trader failed to understand the situation or just didn’t believe me. I’ve tried once more to explain everything to her and received another interesting reply, which still insisted on a withdrawal from the virtual funds:

Again, please explain to me the payout process method to me for doing this forex trading the demo account! I need to know the payout process as soon as possible! I am not doing this forex trading for nothing!

Fortunately after one more e-mail from my side I’ve got a reply from her that made me think that she finally understood that it’s rather useless to ask me for «payout process for doing forex trading on demo». Though I am still not sure whether she understood well that it’s in all cases impossible to withdraw anything from the Forex demo account…

So, the moral of the story: if you want to earn money in Forex (and then withdraw it) you have to deposit real money into a real trading account first, then you should trade and win and only after that you are free to withdraw everything you want. To other Forex newbies I want to recommend reading the basic information about the retail Forex market and how it functions before «doing this forex trading for nothing». And in case you were going to request a withdrawal from your broker’s demo account, I beg you: «Please, don’t!»
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Read the rest of Curious Case of Some Newbie Forex Trader (23 words)

Posted on Forex blog.

• Simple platform
• Quick execution
• Wide spread until 10 pips during news and weekend
• Tight spreads 0.9 pips on EUR/USD
• No minimum trade size, great for beginner.
• Get interest for your account balance
• Poor customer support

Overall I give 8/10 for Oanda. What do you think about Oanda?