FBS demo account: How to use it – Trading tutorial

FBS is a regulated and licensed international broker that offers an easy-to-use online platform to all so that they can take advantage of this highly volatile forex market. Besides, the broker is also FC Barcelona’s trading partner. 

The primary aim of this broker is to offer different financial products for indexes, metals, and currency trading for clients with various financial goals. Within just 11 years, FBS managed to win around 50 awards, including the Best Forex Brand, Best International Forex Broker, and more. 

As the broker always gives importance to its clients, it offers all the required facilities to make the trading process hassle-free, and it also takes steps to educate new traders. And that’s why the broker has introduced its unique FBS demo account that can be used by all.  

Traders don’t have to deposit money or invest in CFDs or Forex right away. With this demo account, you can first test your trading skills using virtual funds and utilizing updated market data. Keep reading to explore more about this, including its features, the process to open a demo account, and more. 

What is an FBS demo account? 

In simple words, the demo trading account offered by FBS is just a virtual trading account where the user can practice trading using virtual money. It works by connecting with a live account so that you can receive real-time market data. 

If you want to trade, then it is crucial to learn how you can use the features and tools available at FBS. And its demo account is a perfect way for that. You can easily test the features and your trading skills without losing real money. 

Once you get familiar with the things, you can start using a live account to trade real money. The company also has introduced a professional demo account where the trader can understand how the forex and CFD market works. 

You can test the new professional category and all its benefits without any survey. As this is a demo account, no monetary transactions are allowed through it. FBS guarantees the complete security of your fund. Some of the benefits of this account are: 

• For metals, the leverage will be 1:200. 
• For currency, the broker offers 1:500 leverage.
• All the possible risks are eliminated. 
• It is completely free to use. 
• You can trade here like a professional trader. 

What is an FBS demo account for? 

Such an account does allow traders to use real funds. But it simulates the real forex or CFDs trading experience. As a result, you can easily learn more about the functionality and features of the platform.

You will get a decent amount of virtual money, and you can also reset the amount whenever you want to start a new trade. Even though all the trading platform is quite different, their demo account comes with some basic features, such as: 

• Drawing tools.
• Technical analysis tools and resources. 
• Forex prices and quotes
• Charts
• Historical market data and live market data
• Newsfeed and more

As a beginner, you should try to place around 60 to 70 demo trades before you can begin with real money. If you use it properly, nothing can stop you from becoming a successful forex or CFD trader. 

Some benefits of using FBS demo account

Risk-free trading experience

Treading is very risky. But while using an FBS demo account that doesn’t expire, you don’t have to worry about the risks. With this, you will learn to accept challenges without worrying about loss. In fact, with every loss, you will learn how to improvise your strategy for your next trade. 

Free of cost

One of the best things about a demo account is you can use it without making any initial deposit. Just put your mail ID and name, and you can start trading through a demo account. To make your forex market entry safer and smoother, you can open a demo account. 

But don’t forget to practice as many times as you want to master the required skills for better performance in the future. 

Improve your trading strategy

Such an account allows the traders to use limitless opportunities, and they are free to try multiple trading strategies with better leverage. You can begin a trade and will explore different solutions to issues that can arise during trading. 

As a result, after a few days of practice, you would start to perform like a professional trader and witness consistent success. Once you can get used to the process, you can open a real trading account to make profits. 

The process to open a FBS demo account

Well, compared to the process of opening a live account, the process of opening an FBS demo account is quite simple and straightforward. Here are some easy-to-follow steps that you need to follow to complete the process. 

• First, you need to visit the official website of FBS.
• Then choose the Open Demo Account options available on the screen. 
• After that, you will be taken to the Trader Registration section. There you need to provide your email ID and name. 
• You can also sign up using your Apple ID, Google account, or Facebook account. 
• Now click on the Proceed option, and you will see two options, i.e., Real and Demo. All you need to do is click on the Demo option. 
• Once done, choose the account type that you want to use. The available options are Demo Micro, Demo Cent, Demo Crypto, Demo Zero Spread, Demo Standard, and Demo ECN. 
• Now, you need to complete the rest of the information. For example, the preferred trading platform (MetaTrader 5 or MetaTrader 4), currency type, leverage, and more. 
• Then, click on the Open Account Option. 

Now you can use your newly created demo account to practice trading in CFDs and the forex market. Remember that you can easily switch to a live account anytime you want. Before your migration to a real account, make sure that you can use limit orders, stop loss, and stop order confidently.

How to use the demo account?

Apart from learning about the trading tools and platform, you can also use your FBS demo account to learn and understand the following things: 

Better way to use stop-loss 

Speaking about a stop-loss order, with this, you can protect your traders from huge losses. A demo account is a perfect way to practice such orders. With a sell-stop order, you can set the amount that you can lose in a trade. You can close it anytime you want. 

For instance, you may want to set a 5 percent loss mark. With a buy-stop order, you can protect the short positions.  You can keep it for a little more than the market price. Learn how it works. 

Best methods to use limit orders

Using this feature, you can fix a maximum and minimum price to sell or buy orders. It works like stop-loss orders. When you set the limit, the order will be placed when the price attains the limit price.

However, while using limit orders, there will not be a guarantee that your order will be executed.

Understand the spreads

Talking about the spread, it is the difference between selling and buying prices in the currency pairs. In the field of forex trading, a spread is evaluated when a facilitator finds a seller and buyer for the listed currency pairs.

In general, the price can be adjusted on buyer and seller sides, and the spread is then paid as service charges. 

To understand lots

A lot means the total amount or size of your trade that you have traded at a certain time. Your lot size will influence the level of risk. Using a demo account, you can evaluate a suitable lot for trading. 

What is the best time to trade? 

Through a demo account, you can trade anytime you want. But while doing that, you should notice the time when the market fluctuates more. As per the experts, 8 AM and 12 PM is the best time as, during this time period, London and USA markets overlap. 

To begin as a forex or CFD trader, you will have to develop an effective trading routine. Your Routine will help you to follow the chosen path while planning for a trade. Besides, it may also increase the chances of getting positive results and lower the risk of committing trade mistakes. 

And to create a routine that can lead you to success, you can always use the FBS Demo account. If you are facing any issues, then go through the video tutorial available on the official site. 

Features of FBS demo account

If you look at the demo account offered by FBS, you will find that there are an unlimited set of features and activities to try. Besides, you can use different trading tools based on your requirements from this demo account. 

Just like other leading forex trading brokers, FBS also has integrated a lot of features into its demo account. Some of the considerable features are: 

• The platform can be used on Android as well as Windows.
• Sufficient virtual funds to help you in getting comfortable using MT4 and the changing financial markets.
• You can easily monitor your transaction in the market, your order progress, and more to see how it works.  
• You can start investing in CFDs and the forex market without worrying about the minimum balance requirements. 
• It supports live and accurate data so that you can test your strategies effectively. 
• It offers multiple indicators and useful add-ons from FBS that you will get in a live account. 
• You can also use the MT5 and MT4 demo accounts. 
• You will get access to different investment options and can place your orders in different instruments to see how they are performing. 
• The demo option is available for all real accounts so that you can explore everything about those accounts and choose the right one for you. 
• The FBS demo account is reliable. 

When should traders use a FBS demo account? 

FBS’s free demo account is developed to perfectly mimic the live accounts. You will get access to the same options, features, functions, assets, and more that are available in a live FBS trading account. The only difference is that the FBS demo account is risk-free. 

Wondering when you should use your demo account? Well, there are multiple situations where you can use this demo account before opting for a real account. These are: 

• If you don’t know how to start trading through a live trading platform, this demo account will assist you in learning and understanding the features. Besides, you will learn how to avoid accidental trades. 
• Want to practice your new forex trading strategy? Don’t worry at all, and sign up for this demo account. First, test the strategies in the demo account and then try them in real-time. Well, they may not offer you 100 percent results, but you should always remember that something is better than nothing.
• Some traders, due to their hectic schedules, prefer to use different automatic trading programs. But they should evaluate the performance of such programs. This is where a demo account comes to play. 

FBS demo account allows you to try out those programs. Trading tools are expert advisors or robots that are not affected by your emotions.  

• There are some people who come to the trading market just to check their skills. If you are one of them and if you are not taking this seriously, then instead of using a live account, you should use a demo account to evaluate your skills. 
• Such accounts are the best option for starting your trading career and also for training. Without losing money, you can test your strategies or trading styles.  

With FBS, the minimum deposit that you need to make to start using a real account for trading is USD 1. This is something that has attracted a lot of traders to try out this platform. So, while using a demo account, you also sign up for a live account to keep trading and earn profits.

Conclusion

There is no doubt that utilizing an FBS Demo account can be a great way to learn the fundamentals of CFDs as well as forex trading. With this account, the broker provides you with an opportunity to learn and practice your trading strategies. Besides, you will also be able to know the forex terminology.

As the demo account comes with virtual funds, you don’t have to worry about any financial risks. No matter whether you are a professional trader or a new trader in the market, you will enjoy a lot of benefits from it. Before applying your strategies, you can practice them in your demo account. 

If you are from Europe, you can open different types of FBS demo accounts. For example, you can go for FBS standard as well as a Micro demo account. 

All the international traders can also use every type of available FBS account as a demo account. That means you can try the standard, cent, micro, ECN, and zero spread accounts on a demo basis.

The demo account opening process is very simple, and it doesn’t require you to submit all your personal information. As per the experts, you should try to complete more than 50 trades successfully using your demo account, and then you can switch to an FBS live account. 

FAQ – The most asked questions about FBS demo account:

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Last Updated on January 27, 2023 by Arkady Müller