BDSwiss demo account: How to use it- Trading tutorial
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BDSwiss is the modern-day trading platform that offers diverse financial instruments for you to trade upon. The makers say that this is an ideal platform for beginners! And to prove that, they have added up a demo account that replicates the real-like trading experience for the traders of all levels. If you are new to the trading world and have chosen BDSwiss as the platform to start your journey, then you have a demo account to test out your knowledge and skills.
The demo account you create is free of cost, and you don’t have to make the initial deposit to get into it. You also have the flexibility to change the default leverage over the demo account. The leverage depends upon the location and entity of the broker with whom you are currently trading. The maximum leverage available in the UK, EU, and Australia 1:30. In most other locations, the maximum available leverage can be set up to 1:500. You have the flexibility to make these changes over your demo account.
Irrespective of the account type you choose over BDSwiss, whether Classic, Raw, or VIP, you have the accessibility to open a demo account. This brokerage platform offers the service feature to beginner and intermediate level traders to test the trading tools, conditions, and other such features over the platform. This article intends to educate you upon what this demo account is all about and how you can open/use it.
What is the BDSwiss demo account?
The demo account by BDSwiss is available for all types of account holders over the platform. But it is mostly preferable by the Classic account holders! It is because the VIP and RAW account holders are usually more experienced and do not need a demo account to practice their skills. But still, the higher account holders and experienced traders create a demo account to check the functionalities of the new platform they have switched to.
Both demo accounts, and the live trading account, operate under the same real-time market fluctuations of the assets and with live market conditions. The only difference is that you will be using virtual credit to trade on your selected assets over a demo account, and in the live trading account, you will be using your real money. The idea behind creating such demo accounts is to give an accurate representation of skills to beginners when they trade with virtual money.
The most evident benefit of using a demo account by BDSwiss is that you will be able to simulate the live trading environment without putting any of your money at risk. You can spend all the time you want on your demo account to practice the skills and functionalities. When you feel ready with all the knowledge and expertise you earned about the fluctuating market, switch to the live account and make your initial deposit to start live trading.
You can also use the demo account for building an effective strategy and checking if it works or not. After validation, you can impose the same over your live account. But you also need to keep in mind that the BDSwiss demo account will expire right after 30 days. And you won’t be allowed to create any more demo accounts after that! Therefore, you have only 30 days to brush up on your skills, gain sufficient market and asset knowledge, and get started with the game of trading.
The demo account of BDSwiss is completely risk-free, and there is no chance of any kind of slippage over it. You can set the virtual balance of your demo account at any value of up to $1,000,000. The process of opening a BDSwiss account is also seamless, which you will know right in the next section of this article.
How to open a demo account in BDSwiss?
To get started with the BDSwiss demo account, you need to learn the process of opening your account over the brokerage platform. So, here are the steps that you need to follow in order to get started with your trading practice sessions:
Step 1: Visit the website
You need to first access the official website of BDSwiss and click on the sign-up button. You will also have a separate tab called “Try Demo Account.” You can click on it and be redirected to the same page. You do not have to make your initial deposit, and the demo account will still be created by default for each trader automatically. When you are done with this, you can now move on to the next step.
Step 2: Documents or information needed for creating the BDSwiss demo account
You need very few documents for opening a BDSwiss Demo Account. The demo account opening process requires only basic information like a valid email address. Moreover, you also require a valid and operational phone number. The user needs to sign-up on the platform and head to the dashboard for testing its use.
Once the demo account is open, you have to provide documentation to prove your identity. This will help you open up a real trading account. The process needs the submission of some address proof too. For this purpose, you submit an ID proof like passport and a bank statement or utility bill as a proof document. The user should keep these documents in order while opening the bank account.
Step 3: Fill the registration form correctly
The registration form is an important formality to fulfill. The proper and accurate filling up of the registration form is vital for the demo account opening process. The registration form needs your personal details like Birthdate, Email, Country, and Full name. Always double-check the information you are putting on the registration form. Once you have correctly filled out the registration form, submit it and open an account. Then when you have garnered a solid interest in trading, you can go live and invest real money in your account.
Step 4: Confirm the account through telephone or email
When the accurate information is filled at the right fields of the form, and the user clicks on the submit button, he receives a confirmation email confirming his freshly submitted details. The confirmation email verifies your details before the final submission step. Before submitting the form and verifying it, the user should check all the details. The confirmation process can also be finished through your registered phone number.
Step 5: Log in to the demo account
Once the confirmation mail is received, your BDSwiss Demo Account is ready for its first log-in. You can head to the platform and log in to your account to start operating it in demo mode. To log in, you have to enter your new account details and enter the account.
Step 6: Make a choice of your BDSwiss demo account platform
Once you log in to the platform, you need to choose the demo account platform best suited for you. For example, the options available are MT5, MT4, BDSwissWebTrader, or BDSwiss Mobile Trading Platform. The BDSwiss Demo account is compatible with multiple trading systems the trader can choose.
- MT5 trading system
MT5 trading system is an advanced trading platform that offers analytical options through various trade indicators. The trading system is ideal for trading regularly with technical analysis of market trends.
- MT4 trading system
Metatrader 4 or MT4 system is a trading platform for Forex and analyzing markets. The system offers expert advisors that help in the trading process. The platform supports mobile trading and supports Forex trading in different financial markets. It is a 99 percent accurate Forex trading system.
- BDSwiss Web Trader
BDSwiss Web Trader is a synchronized web trading platform with the MT4 trading system. The platform allows the trader to monitor the price in live mode with the help of an advanced market watch. The platform has multiple analysis tools for market trends. Its features are accessible through all types of web browsers.
- BDSwiss Mobile trading platform
The new BDSwiss Mobile trading platform works on multiple smartphones and is accessible at any time. The platform supports multiple trading formats that are easy to operate via a smartphone.
How to use the BDSwiss demo account?
The BDSwiss trading platform is an easy-to-use and versatile platform that supports various trading systems. The platform supports different trading actions from the sign-up process to its use. The platform offers different international languages, which help traders navigate the platform easily. The sign-up process takes only a minute or two for a BDSwiss Demo account.
A new trader can access the trading academy on the main BDSwiss site for further guidance on using the BDSwiss Demo account. As a new trader, you need to talk directly to an adviser for demo trading funds to be added to the account. The trader can use CFDs or Forex to carry out the initial trade. The trader can also use personalized indicators imported for the trading platform. The log-in process can be done on a desktop or a mobile phone app. To trade actively, the trader needs to choose the right asset for the process. Then, you choose the right position on the trade chart for your account. Stop-loss and Take profit rescue the account in position and profit. You can now buy or sell your assets and invest in rising or falling markets for profits.
When the trader trades in CFDs, he trades through contracts closed between the broker and him. You can take up a CFD in a certain asset class, and if the price of the asset rises in the next few hours, you can close the trade-in profit. Once you have closed the trade, you reset the trading platform for a new cycle of trading.
Features
There are multiple features of the BDSwiss trading platform that helps in making it the best trading platform for beginners. For example,
Training academy
The trading academy available on the BDSwiss platform is a good one that helps new traders understand the basics of trading. The academy offers multiple educational resources to help traders learn how to trade in Forex and CFD. The academy helps beginners and old traders reset their trading knowledge. The trading site offers many webinars and video courses tutorial that fortifies trading knowledge for traders. On the other hand, the platform also offers simple quizzes that help traders test their knowledge of various trading systems. Opening a BDSwiss Demo trading account helps you gain access to the Trading academy of BDSwiss platform.
Supports all international languages
Trading is a global phenomenon that involves traders from all over the world. Therefore, the BDSwiss platform needs to support multiple international languages. You can not only operate your BDSwiss Demo Trading account in English but other major international languages too. You can easily reset the language for the BDSwiss Demo Trading Account without hassle.
Available on web and mobile format
Today, people prefer to operate their trading systems on different devices. Whether the trader wants to access the trading platform via phone or desktop, the BDSwiss Demo trading account can be opened on a desktop and a dedicated mobile app. This increases the accessibility and flexibility of the platform.
Multiple payment methods
Like diverse languages, the BDSwiss Demo trading account supports different payment methods like UK pounds, Euros, US dollars, Danish money, or Swiss money. A new trader can choose which currency to take up transactions in on the platform. The trader can deposit and withdraw money in any format preferred by them. This allows people to pursue trading on the platform with a very flexible approach.
Good for beginners
Whether it is about trading tutorials through the trading academy or a good BDSwiss Demo trading account for trading practice, the BDSwiss platform for trading is apt for new traders. The platform supports different trading systems, languages, and payment methods to make beginners comfortable using the platform.
Efficient news channels for market trends
The trading platform integrates with market news channels that help traders know and analyze trends. The BDSwiss Demo trading account helps people access market news at all times so that they can make informed trade choices. The news channels help the traders keep track of a rapidly changing market scenario.
Easy selection of the most popular investment options
The BDSwiss platform supports multiple asset classes and several popular brands. Therefore, whichever brand the trader wants to invest in can easily choose it from the available options. Choosing an investment is very easy through the BDSwiss Demo trading account.
Availability of modern analytical tools
Analytical tools are very important for taking any decision in the trading system. The BDSwiss trading platform allows access to many market analysis tools with a BDSwiss Demo trading account. A person can practice using these analytical tools to improve decision-making skills with a BDSwiss Demo trading account. Then when he converts the account to the main one, he can use these tools in live trading.
Conclusion
BDSwiss trading platform is a diverse and versatile trading platform that supports multiple trading systems. The trading platform is accessible on mobile phones and desktops and is easy for traders. It supports beginners in the trading circuit as it allows novice traders to practice their trading knowledge with a BDSwiss Demo trading account.
A BDSwiss Demo Trading account is easy to open and use. At any given time before expiry, a trader can change the BDSwiss Demo Trading account into a fully functional, main account.
The BDSwiss Demo Account helps traders access educational resources and analytical tools for a complete and fruitful trading experience. If a person wants to explore the trading circuit to find his comfort zone, he should start with a BDSwiss Demo trading account. The demo account is a transitioning step between an amateur trader and a full-fledged experienced trader.
FAQ – The most asked questions about BDSwiss demo account:
How many are BDSwiss demo trading accounts available to beginners?
The BDSwiss platform only supports demo trading accounts in the classic account type. Other account types like VIP and Raw do not support demo account formats.
How are demo accounts and live accounts similar on the BDSwiss platform?
The demo accounts and live accounts both operate on the real-time, live market so that traders get the real experience of trading even when they are learning. The similarity between the live accounts and demo accounts helps demo traders look at the market. This helps the traders understand how to manipulate the market for higher profits.
When is the expiry date of a BDSwiss demo trading account?
The expiry period of the BDSwiss Demo trading account is 30 days after signing up. In 30 days, a trader can easily learn the inner workings of the BDSwiss platform and decide to continue as a trained trader on the same interface. If a new entrant wants to continue operating in demo accounts, he can add a new demo account after the expiry of the old one. He can also reset the account balance of the demo account for continued operation. The process can be executed with the help of the support team or via phone or email.
Is opening a BDSwiss demo account free of cost?
Yes, the opening of a BDSwiss Demo account is free of cost. The operation of a BDSwiss Demo account is also free of cost till the expiry date.
Are BDSwiss demo accounts fake?
BDSwiss demo accounts are dummy versions of real-time trading accounts. Hence one can arguably call them fake. These are beneficial for experienced and novice traders who want to experiment with trading a different class of assets. Usually, anyone who wishes to practice trading in a virtual environment before doing so in the actual world can profit.
How much money should I risk to trade on the BDSwiss demo account?
Demo trading carries zero risk as it doesn’t involve real money, allowing you to experiment fearlessly with large transactions totaling thousands of dollars. Hence, you can use a combination of indicators and tools while bidding a high amount to analyze the platform.
Can I withdraw the profits from the BDSwiss demo account?
You cannot withdraw any of the money in your demo account. The demo is short for a demo account, which refers to a practice account. You utilize this account to test new trading methods and gain additional trading platform knowledge.
Is BDSwiss demo account trading accurate as real account trading?
Demo accounts sometimes reflect reality, and the margins generated might be/not be accurate. Demo accounts are provided so that you can practice and test out tactics, but they can only provide you access to a limited number of common situations. Thus they cannot fully prepare you for all possible scenarios. As a result, you should consider the trades you make while using a demo account to be something other than actual transactions.
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Last Updated on January 27, 2023 by Arkady Müller
