Demo Trading Account
Your free ATFX demo account is an excellent starting point on your trading journey. Opening a demo account is the recommended first step for new traders before you commit to opening a live account.
What is a Demo Trading Account?
A demo trading account is a simulated trading environment that allows you to become familiar with the online trading process. Your ATFX demo account will have a $50,000 virtual balance, enabling you to explore and experiment with various trading concepts.
You can trade forex pairs, indices and commodities in a safe environment where you’re not committing or risking any real money. A demo account helps you learn how to navigate the MT4 platform. You will become familiar with analysing price charts, watching the markets move, filling in a trade ticket and making trading decisions.
How to Open a Demo Trading Account
Opening a demo trading account is easy; simply provide a few basic details, and you’ll be sent login details immediately. You don’t have to provide more information until you’re ready to switch to a live trading account.
How do I use a Trading Simulator Account?
You can use a trading simulator account in the same manner as a live trading account. A simulator account is an alternative name for a demo account and has identical features to a live trading environment.
If you’re building a forex trading plan with multiple strategies, then a demo (simulator) account provides the perfect opportunity to test your trading strategies. Especially before you decide to commit your hard-earned money, a simulator account will give you plenty of practice to identify all the features you need to trade successfully.
Demo Trading Account FAQs
As a novice trader, you may have many queries regarding the demo account opening and the trading process. Therefore, we’ve put together a short FAQ section which should answer the most common questions.
You should open a demo trading account since it allows you to:
● Get familiar with your trading platform
● Build and practice trading strategies
● Become a confident trader
All without risking your actual funds
You can’t withdraw money from a demo account because the funds are virtual. However, you can switch to a live trading account at any time to start making withdrawals after funding your account.
Once you’ve traded on a demo account, the switch 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 demo account provides a similar experience to trading a live account. The difference is that you do not risk your funds when trading a demo account.
The spreads quoted on the account, the execution speed, and the overall trading process are as close to live trading as possible. So it’ll be a seamless transition when you’re ready to move up to live trading.
You can’t transfer money from a demo to a live account because the funds in a demo account are not real. You can’t fund your demo account with actual funds, either.
When you’re ready to start trading with real funds, you’ll need to open a live trading account.
Paper trading is a throwback to when traders used paper to jot down their hypothetical trading thoughts and ideas. As a result, you’ll often see demo accounts described as “paper trading” accounts.
Your ATFX demo account will give you access to multiple financial markets and help you understand how they move.
The demo trading account is better than paper trading because you get to practice how to:
● Navigate the platform
● Read and analyse price charts
● Fill in trading 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 understand the execution process of FX trades. Therefore, when you’re ready to open a live account, you’ll know how to use your MT4 platform and the features offered in our trading accounts.
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 trade is closed. With the CFD trading option, you can trade a wide selection of assets such as equity indices, commodities and FX pairs.
If you’re ready to begin practising and developing your trading skills while experimenting with various trading methods and strategies, click here to open free demo account with ATFX today.