Free demo account for forex and CFD trading

Entering a real market can be very difficult and risky, that’s why smart FX and CFD traders use a demo account. This account provides even for newbies to get a shot at trading currencies, stocks, indices and commodities without risking their hard made money. Let’s have a quick look at what everything demo account is good for:

  • Touching the market with our own hands and getting the feeling of trading
  • Testing broker’s platform
  • Testing and verifying trading plans and strategies
  • Identifying our strengths and weaknesses (so you know what you need to work on)

Plus500 demo account (highly recommended)

Plus500 is one of the brokers, that does offer a free unlimited demo account. This account can be set up in a matter of seconds, you just have to fill in your name and your email address. No deposit is required. The broker has no commission policy and the spreads are actually fairly tight. Plus500 has a very intuitive trading platform and the customer support is offered in 16 languages.

  • Website: https://www.plus500.com
  • Minimum deposit: 100
  • Minimum deposit in order to create demo account:$ 0
  • The time period for which the demo can be used: Unlimited
  • The number of imaginary chips: 50 000 (currency of your choosing)
  • Regulated: Yes, in Europe by CySEC and FCA, in Australia by ASIC

CFD Service. 80.6% retail clients lose money

How should be demo accounted properly used

The purpose of a demo account, simply put is to learn how to trade. However, that is easier said than done. In order for you to get the most experience from trading on a demo account, you need to act as if you were trading with a real money. Only then you are able to really know whether you will have a solid chance on a real market or not. The setting of your demo account should duplicate conditions which you will have with your real account. Why would you trade 100 000 imaginary chips, when you don’t plan to trade with this capital on a real account? Why would you invest 25% of your funds in a single trade, just because you feel like it? I strictly recommend doing the same things as if you really had on the line your own money. Otherwise, you might end up in learning bad habits which cannot be that easily unlearned later.

Build a winning and working trading system

I love the famous quote “Fail to plan and you plan to fail“. It describes exactly what a lot of people come across in trading. Random trades without a proper plan don’t have any meaning and are most likely doomed to failure. If you are one of the people who do not have a plan, then this is your time, because that’s exactly what a demo account is for. To prepare a strict trading plan, which will include everything (entry levels, exit levels, MM and so on). Following your plan means success because the plan indicates the ability to repeat the results. An outcome which you can not repeat doesn’t have much of a space in trading, especially on a long-term scale.

Markets.com demo account

Represented by Arsenal F.C. Markets is one of the industry’s most recognised CFD broker. A fully licensed company, offering a web-based platform along with MT4 has very low spreads that can be as low as 2 pips on almost all major currency pairs.

  • Website: https://www.Markets.com
  • Minimum deposit: 100 
  • Minimum deposit in order to create demo account: $ 0
  • Time period for which the demo can be used: Unlimited
  • The number of imaginary chips: 10 000
  • Regulated: Yes, by CySEC and FSB

CFD Service. 73% retail clients lose money

AvaTrade demo account

Unique Ireland based CFD broker AvaTrade offers very fair spreads, MT4, AutoChartist and a wide range of automated setting. Only the selection of assets is inadequate in comparison to Plus500 and Markets.

  • Website: http://avatrade.com/
  • Minimum deposit: 250 
  • Minimum deposit in order to create demo account: $ 0
  • Time period for which the demo can be used: 21 days
  • The number of imaginary chips: 10 000
  • Regulated: Yes, by Central Bank of Ireland

CFD Service. 78% retail clients lose money

Michael
Author: Michael
Hi, I'm Michael and my area of expertise is forex and cryptocurrency trading. I specialize in technical analysis, namely in chart pattern setups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. I do not give investment advice, but for general inquiries please use the comment section under any article.

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