Many investors want to engage in online trading, but it is important to do it at your own pace, especially when you start. Some will be very comfortable with the trading system and the operation of Meta Trader 4 or Meta Trader 5 platforms while others will need more time to become familiar with these new tools. In this case, demo accounts are true allies in starting your online trading experience stress-free and at your own pace.
With the demo account, trading conditions are real and immerse traders in the real world of financial markets right from the start. Everyone then has to get used to how the system works, to the analysis tools often offered by online brokers and to develop their strategy before getting into actual trading.
Most brokers understand the importance of offering demo accounts to their future customers. To help traders go at their own learning pace, there is generally no time limit on these accounts. For novice traders, these demo accounts offer a wide range of options and tools they can try out. Beginners can therefore vary their techniques and strategies to acquire the skills that will allow them to become more experienced traders.
For certain trading professionals, it is important not to have prolonged use of these training accounts. They consider that investing virtual money for an extended period of time reduces the apprentice's feel for the job, since no real risks are taken. It is essential to learn how to make decisions based on the risk of loss. Stress and risk are two central elements of the trader's activity in real trading. Of course, having said this, it is recommended for novice traders to practice through virtual trading before wagering any real amount of money and thus avoid beginner’s mistakes, such as incorrect order placement for example.
To name just a few examples, the ActivTrades broker offers a free Forex demo account with 10,000 virtual funds. The conditions are in all respects equal to those of the real market and all the negotiating conditions are replicated with fidelity to ensure maximum coherence with real trading. ActivTrades also offers a help and support service that remains available to new traders. The FXPro platform also offers training in trading and provides free educational resources. Etoro gives the opportunity to test Forex and CFDs for 30 days, with a commitment-free demo account, and offers trading training. AdmiralMarkets also has a demo account option.
Most brokers offer demo accounts, more or less limited in time with a basic sum that varies from one broker to the next. It is therefore important to spend time on various online trading sites to make your own choice based on your own criteria. As a general opinion, it is essential for online trading newbies to use a demo account before embarking on real order placements.
