Libertex demo account: How to use it? – Trading tutorial

Libertex is one of the best trading platforms in the industry that offers ideal features to beginners and experienced traders. This platform is popularly known for its online CFD and forex brokerage services. The brand has been operating within the industry since 1997 and has over 2.2 million clients across 11 countries of the world.

Libertex holds over 30 awards for being a trustworthy platform for traders to spend their money on. The brand earns the profit from the other side of trades and charges just the commission and not the spreads. It is a fully registered online broker with over 20 years of experience in the field. There are over 200 assets for you to choose from.

Libertex offers you access to the unique web trading platform and mobile trading application. The beginners who are new to the trading journey should rely upon the web platform for mastering the fundamentals of CFD and forex trading. But if you are a professional and experienced trader, you can leverage the potential of the MT4 trading platform of Libertex.

Irrespective of the web browser, Libertex runs smoothly and reliably on all of it. This platform executes the trading services faster and with high stability. Libertex has put up a design for the interface with high user experience aspects. The site can tailor as per the requirement of traders and is customized to meet their trading strategies.

The best thing about Libertex is that it offers a free demo account for beginners and experts to practice trading within the interface. The beginners get access to all of the technical indicators and features within the live trading account to get used to it. These tools can be used to prepare trading strategies, analyze assets, and learn the fundamentals.

When you master the basic skills of trading and are ready, you can head to the live trading account. But till then, you should keep using virtual funds in order to practice investing and bidding on the selected financial instruments. Suppose you are a beginner and unaware of opening or using the Libertex demo account; here is the complete guide for your clear understanding.

What is the Libertex demo account?

Libertex is offering a demo trading account for beginners who are new to trading CFDs and Forex currencies. The experts also use it to get used to the interface before switching from the old trading account. You can practice your trading strategies without any risk of losing your funds. You get virtual funds credited to your demo account right after you sign-up for it.

It is a completely risk-free environment and is reputable in the trading market. The live trading account is not ideal for beginners to start with initially. They might indulge in seriously risky trades that might cost them a lot of money in the start. As a result, this will take their mind from trading potential, and they will eventually quit.

Even though it is a demo account, it will still have the complete features of the real trading account. The graphs, assets, price movement, and other features are the same in the demo account, just like the live trading account. The benefit of it is that the beginner trader can use the virtual funds for trading on a real financial instrument to see if the trade is successful or not, based upon real-time movements. Hence, this will help you learn from your mistakes and improve your strategies to bag more profits than losses in your trading career.

You will get $10,000 virtual funds in your Libertex demo account, which you can reset and reload once it gets over during your practice rounds. There are no charges for you to use the demo account. You do not have to make the minimum deposit at first before using the demo account. And this is one great feature of Libertex, as most of the other brokers demand the traders make the deposit to use the demo version.

The demo version of the Libertex trading platform is available on both the web platform and the mobile application. You are free to access it from either platform.

How to open a Libertex demo account?

When you are new to a trading platform like Libertex, it is evident to act strange at first by seeing all of the technical terms mentioned over the website. But you should focus on heading out to the demo account at first by ignoring all of the technical mentions listed over the website’s landing page. So, the steps to open a Libertex demo account are:

Step 1: Access the Libertex website

First, you need to access the official Libertex website. When you land on the website, you will get a lot of information about the trading platform, CFD trading and Forex trading. If you are completely new to this form of trading, then it is better you take a look at all of that information as an overview.

It will help you get a glimpse at what practical implementations you would make in the demo and live trading account. So, give a fast read to the information within the landing page. But do not get carried away by the technical terms mentioned or listed over it. Head out to the sign-up option that you will find somewhere around the page for a demo account.

Step 2: Register yourself with genuine details

When sign-up to a demo account of Libertex, you will be asked to fill in all of your personal details for specifying your identity. Make sure that every piece of information you enter is correct as per the documents issued by your government. There is a specific rule for even the dates and spellings to match exactly.

When you are done filling in the personal details, you need to go ahead and submit the form online. It is the first and the most important step for completing the registration formalities for entering the demo account.

You will need copies of some of your legal documents to prove your residence and identity for the next step. You can use a driving license or passport to prove your identity with your name and image. You can use a bank statement, electricity bill, or credit card statement to prove your residence input.

After the verification is over, Libertex will drop you an email with your login credentials for accessing the demo account. Use them to log in to your demo account and follow the initial guide to access all of the features and tools similar to a live trading account, except the funds.

Step 4: Practice your skills within the demo account

Spend your time wisely within the demo account. It is because if you intend to earn a good fortune with a trading career, then it is better for you to invest your time in planning strategies, studying the asset market and executing the trades. The more you practice, the more you will learn from your mistakes. You get unlimited virtual funds to trade the real-time assets upon live price movements.

If you judge the market wrong, you will most likely lose your virtual funds. So, correct those flaws and place the same trade again. If it works and you get the profit, you can count on it as a successful strategy that you can use over the live trading account. So, utilize the most out of your Libertex demo account.

How to use the Libertex demo account?

Libertex proposed the demo trading concept to allow traders to learn the ideologies of successful trading. People with great ambitions of making money at Libertex would end up making losses if they head out to the live account on signing up. The beginners are bound to use the demo account first if they intend to learn about the basic trading process.

Here are a few things that you should consider in order to use the Libertex demo account effectively and make more money when you switch to the live trading account:

Understand the goal of demo trading

Demo account is not for earning money, but it trains you to earn money on your live trading account. The only goal you should have while accessing the Libertex demo account is to create a plan and follow it to success. A plan can help you produce repeatable results, and if you make profits even after a certain time of implementing that plan, it is indeed a success. Your goal should be to make a plan and stick to it for a considerable time to know if it is a success or not. 

Let the Demo Account mirror the circumstances

Do not count on it as fake money and approach it with negligence towards it. When you are trading over the demo account, count it as real. As you are in your practice ground, you should not adopt bad habits for your trading journey. Such habits can trouble you in the live trading account. 

Use the virtual funds strategically

The demo account fund usage should reflect the monetary value that you can use in your live trading account. If you have plans to use $10000 for your live trading account, you should start your demo account with $10,000 virtual funds. You should not trade with a $1000,000 value demo account if you are willing to spend only $5000 in your live trading practices. It will lead you to adopt bad habits that might make you inefficient in managing the funds you use for Libertex trading. 

Features of Libertex demo account

Libertex platform is embedded with powerful features to allow you to implement impactful trading schedules and strategies. Here are a few of the efficient ones to help direct your attention towards the proficient demo account of Libertex:

The assets and trades are real 

Even though the funds are virtual, the demo account’s trades and assets are real. You need to keep in mind that the assets you choose and the graph you see replicate the real movements. There is nothing demo in that.

The asset you pick to trade will show you the real price as per the live market. When you place the bid, the movement of the price and graph will also be the same as that of the live trading account. As a result, you will learn the strategies better.

Technical indicators and tools are available

All technical indicators and trading tools you are supposed to get with the live trading account will be made available over the demo account. It ensures that you make the best out of your demo account in building strategies and developing trading skills.

Moreover, you also get the training materials and research resources over the platform to educate you on some of the prominent trading secrets of Libertex. You can go slow with your pace while you are practicing the right modes of trading over Libertex.

Self-explanatory guide

Most of the steps of trading over the demo account are self-explanatory. It means that you will be guided with the steps you should take to proceed to the next process. In this way, you will get a practical idea of starting your trading journey over a demo account and eventually in the live trading account.

Unlimited virtual funds

Every time you run out of your $10,000 virtual funds, you can just click on the reset button right next to the balance box of your demo account. The amount will reload automatically, and you will have more virtual funds to practice with. But remember to adopt good habits while spending these funds because you will probably be replicating the same over your live trading account.

No expiry for the demo account

Libertex has not imposed any expiry duration for its demo account, unlike other trading platforms. It means that the traders can access the demo account anytime they want to try out a strategy on a particular asset. Therefore, this feature is leveraged by both beginners as well as experienced traders over the platform.

Note:

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Conclusion

There is no reason for you not to consider the Libertex demo account as less important. If you are new to trading, you should not skip the demo account and head to the Libertex live trading account right away. It is your hard-earned money, and you should have an idea about the platform or process in which you are investing.

You do not have to pay a single penny to Libertex for using their demo account. But when you shift to the live trading account, the minimum deposit is $10. Even this $10 is not charged by Libertex but is funded to your trading account. The demo account will be loaded with an initial $10,000 virtual funds that you can use to buy the CFD contracts or Forex currencies and make trades on the price movements.

It is all about educating you on the right way of buying and selling activities over the trading platform. You need to get the confidence to win within the demo account first to bag more profits in live accounts. Do not rush or compete with any of your mates or colleagues who are better at Libertex trading than you. They all started at the same pace once.

Be patient while you approach and practice your moves over the virtual account, and avoid losing your money in the real one. Trading is all about how slow and steady you can be in your approach. All you will try throughout your trading time is to avoid losses.

FAQ – The most asked questions about Libertex demo account :

Is there any fee to join the Libertex demo account?

No, there is no fee for you to join the Libertex demo account. All you need to do is sign-up to the demo account portal of Libertex and fill in your credentials. When you are done with that, you will eventually get a mail on your registered email address that will have the credentials of the demo account for you to log in. You can start your practice rounds right from that time until you feel ready to use the live trading account.
There is no expiry to the demo account as well. So, you can come back anytime from the live account to the demo version in order to implement your tactics and verify the plan.

How do I reset the Libertex demo account?

If you want to reset the demo account over Libertex, all you need to do is switch to the demo account mode and click on “Start Again.” You need to keep in mind that if you are doing this, all of the actions you did in the account will be erased or deleted, and the account balance will then be set to be $50,000. Go to the terms and conditions page of the platform to learn more about it.

What is a Libertex demo account?

The Libertex demo account allows traders to gain knowledge on how to execute new trades without having to deposit actual cash. Also, it is best to experiment with your trading skills. Besides, you can test new strategies. It has fictional funds. You can practice your strategies before involving them in a live account. If you wish to work on a demo account, consider Libertex.

What is the procedure to open a Libertex demo account?

Perform the following procedure to open a Libertex demo account:

In the first place, navigate the Libertex website. Then click the “start trading” button. Then proceed to the next step. In this procedure, you must complete a registration form. Provide all necessary information, like mobile numbers, email IDs, and passwords. Then, to continue, click ‘open account.’ 

Is the Libertex demo account a good platform to learn how to trade?

Yes, the Libertex demo account is the perfect platform to learn to invest. You can get a variety of features through this platform. It has fast execution times that help users earn a competitive edge, just like the live account. It has also attempted to start providing its traders with a user-friendly interface. So, if you are a beginner, the Libertex demo account will be a great option to move forward with. 

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Last Updated on January 27, 2023 by Arkady Müller