What is a Demo Trading Account?
How to Open a Demo Trading Account
How do I use a Trading Simulator Account?
Utilizing a trading simulator account mirrors the operational approach of a live trading account. Often referred to interchangeably as a demo account, a simulator account mirrors the exact attributes of a live trading setting.
Should you be in the process of formulating a comprehensive forex trading plan encompassing an array of strategies, a demo account serves as an ideal platform to refine and test your trading concepts. This becomes particularly crucial prior to engaging real funds, offering an ample opportunity for rigorous practice in uncovering the essential features requisite for successful trading.
Demo Trading Account FAQs
As a novice trader you’ll have many queries regarding both the demo account opening and the trading process. We’ve put together a short FAQ section which should answer the most common questions.
You should open a demo trading account as it enables you to:
- Get to grips with your trading platform
- Build and practice strategies
- Grow your confidence
All without risking your real funds.
You can’t withdraw money from a demo account because the funds are virtual. You can switch to a live trading account at any time.
Once you’ve traded on demo, the change to a live account is seamless. You simply click the “Create live account” button and follow the instructions.
Demo trading accounts aren’t real trading accounts. However, ATFX has ensured that your simulation is a similar experience to trading a live account. The obvious difference is that your funds aren’t at risk.
The spreads you’ll see quoted, the speed of execution and the overall trading process is as close to live trading as we can make it. When you’re ready to move up to live trading it’ll be a seamless transition.
You can’t transfer money from demo to a live account because the funds aren’t real. You can’t fund your demo account with your actual funds either.
When you’re ready to start trading with real funds, you’ll need to open a live trading account.
- Navigate the platform
- Read and analyse price charts
- Fill in trade tickets correctly
- Monitor open positions
The Forex demo account you open with ATFX allows you to trade a selection of major and minor forex pairs with virtual funds. You’ll become familiar with the MT4 trading platform and get to grips with the complete process of executing FX trades. Therefore, when you’re ready to open a live account, you’ll be familiar with how to use your MT4 platform and how to use the features in the trading accounts we offer.
A CFD is a contract for difference. In your free CFD demo account, you can speculate on the outcome of the difference between the price when you open the trade, and the price when the transaction is closed. With the CFD trading option, you can trade a wide selection of securities such as equity indices, commodities and FX pairs.
If you’re ready to begin practicing and developing your trading skills, while experimenting with various methods and strategies, then click here to open your free demo account with ATFX today.