- January 5, 2018
- Posted by: Michael
- Category: Cryptocurrency trading
Trading bitcoin can be quite risky when an investor does not have a lot of experience with the cryptocurrency market. Luckily, there is a way how to try bitcoin trading without taking any risks whatsoever. A Bitcoin trading demo account is intended for this very purpose. A practise version can be created a free of charge and any beginner, as well as any advanced trader, can try out, experiment and test bitcoin trading. Although trading with imaginary funds can’t ever mimic the psychological pressure of having real money at stake, a demo account is still by far the best way how one can understand the bitcoin market.
Bitcoin trading – Where to open a Free demo account
Bitcoin trading on a free demo account is offered by dozens of CFDs brokers. These companies greatly differ and one has to choose a company that has the lowest fees for bitcoin trading and a min. deposit requirements in accordance with your financial situation. If you desire to trade not only bitcoin but other cryptocurrencies as well, please verify that the broker you consider choosing to have them on the offer. We have selected for you 3 industry’s leading bitcoin brokers that are regulated by the European regulator CySEC or/and by the British FCA and where no initial deposit is required.
General warning: When trading with real money, your capital might be at risk
More information can be found within a separate review of each company. Do not forget to leave a comment under a company you select to trade with for other readers and traders on the web.
How to open a practise account for bitcoin investing
Creating a demo account for bitcoin trading is very simple. Select a company that offers this version of an account. All listed brokers above have them on their offer, but there are also many other companies with a practise account. They might, however, have bigger fees, not be regulated or trusted by millions of traders as are IQ Option, Plus500 and Markets. For establishing a demo account, only your name and an email address are usually required. IQ Option also offers to replenish your funds in case you lose them while trading on the practise account. Plus500, as well as Markets, do not offer this option, a new account can be, however, created at any time.
Bitcoin Trading – Purpose of a Demo Account
It is a great feeling not having to worry about losing your funds while trading your favourite cryptocurrencies. Nevertheless, a demo account for bitcoin or any other cryptocurrency for that matter should not serve only to test how a trade can be created, but also to:
- Understand how bitcoin market behaves – price fluctuations
- Test selected company and all its tools
- Test bitcoin strategies and techniques that you yet don’t know how will work