Free Trading Demo Account Review
Are you looking for a free and unlimited trading demo account? – Then this page is for you. In more than 7 years of experience in online trading, we have tested many providers and present you in the lower table in our top 3. Additionally, you will learn on this page why a demo account with virtual credit is so important for beginners and advanced traders.
|1. IQ Option|| (5 / 5) |
➜ Read the review
|Starting 1.0 pips||+ FX & Options |
+ Best platform
+ Start with $10
|2. BDSwiss|| (5 / 5) |
➜ Read the review
|Starting 0.0 pips||+ Individual offers |
+ Trading signals
+ Personal service
|3. XM|| (5 / 5) |
➜ Read the review
|Starting 0.0 pips + 3.5$ commission per 1 lot||+ Good conditions |
+ 1,000 Assets
+ Personal service
Criteria for a good Trading Demo Account:
Not every trading demo account is optimal for the private trader. That’s why there are different criteria that make a good trader. All in all, however, it can be said that nowadays almost every online broker offers a free demo account. Sometimes, however, there are runtime restrictions or other functions that are limited.
The demo account is intended to simulate real money trading. Therefore, it is essential to choose a reputable provider. With brokers with an official regulation and financial license, there are no differences in the demo and real money trading from our experience.
- Free demo account
- Unlimited demo account
- There is no difference between the demo account and real money trading
- The account can be recharged with virtual money as desired
- All functions are available
Why is a demo account so important for beginners and advanced users?
A trading demo account is an account filled with virtual credit (play money). It simulates real money trading. Traders can therefore trade real market situations without risk. The account is particularly suitable for beginners who want to start trading. The first experiences can be collected in the demo account.
In general, it is about getting to know the trading platform of the broker better. In our experience, most beginners find it very complex to trade on the financial markets at first. After a few explanations and tests, however, one realizes that it is not so difficult. In addition to the trading platform, the broker can also test the trading conditions.
The spread and trading commission in the demo account is the same as in the real money account. New markets should also first be tested in virtual mode, especially in the short-term area (day trading). Beginners and advanced traders can benefit from this. In addition, trading strategies can be tried out or developed. In summary, the rule is that you should trade in the demo account until you are profitable and make progress.
Facts about the demo account:
- Trading in the demo account is risk-free and simulates real money trading
- Test the trading platforms sufficiently
- Learn online trading and control order execution
- Test the broker’s fees
- Test and develop new trading strategies
Free and unlimited demo account
In general, a demo account is always free of charge. From our experience, 99% of Online Brokers offer this service. Some few providers require a minimum deposit. From such offerers is urgently to be advised against, because these are often unserious. In addition, the account should have an unlimited duration.
Some providers have fixed expiration times for the test account. By a message to the support, this problem can be solved however and the running time was extended from my experiences up to now always. In summary, beginners and advanced traders have the opportunity to test open trading platforms and brokers. A demo account like the real money account should always be ready to trade.
No difference between real money and virtual credit
With good brokers there is no difference between demo and real money trading. The price movements and executions are the same. Gladly, the trader can also check this himself. With regulated providers you do not have to worry. Therefore, be sure to obtain an official license from a financial supervisory authority.
The top recommended brokers all have an official license and are even regulated several times. Also, the trading fees and/or the spread has no difference in the demo account to the real money trade. With these accounts, you can simulate real money trading 1 to 1.
- Choose a reputable provider for your trading demo account as well
- You trade in both accounts under the same conditions
Account recharge is quite simple
With the demo account, there is the possibility to recharge the credit as desired. Since it is a test account, the credit can shrink quickly. But this is no problem at all. Because over the web page of the broker one can recharge the account very simply in few clicks. If you have any questions you can contact the support.
Further training for traders
Especially many beginners trade in the demo account and this is also absolutely necessary for a newcomer. The brokers offer concrete training material. The offer ranges from trade tutorials to free-market analyses and webinars. The demo account is the best way to expand your knowledge.
In addition, you can gain personal experience in various market situations. Professionals generally talk about the fact that it takes several thousand hours of screening time to act successfully. Read also our 10 Trading Tips.
How long should I practice in a demo account?
From our experience, one should practice in the demo account until one has made demonstrably the first profits over a longer period of time. From our experience, a period of one month is suitable here. If you make a good profit week after week, you can slowly dare to trade real money.
It is important that you keep a statistic about your trades. The trading platform, however, already shows this very transparently. Alternatively, further tools can be added. It is best not to rush into anything. Trading a week longer in a demo account is better than losing real money because you don’t feel safe enough.
Conclusion: The demo account is the best way to learn online trading
The trading demo account is suitable for any trader and should be used before trading real money. It has many advantages which we have described to you on this page.
In addition, the creation of such an account is done in a few minutes. Online Brokers meanwhile offer very easy access to the trading platform. Should he feel sure that a trader is safe enough for real money trading, he can start it directly.
In summary, the demo account is one of the most important tools of a trader, because with this account you can try many things about real market situations for free and without risk.
Good luck with your trading.
A demo account is necessary for each type of trader. You can try to trade the markets without risk.