Forex Demo Accounts – How to Get Started
If you’re interested in trading forex but you’re not sure how to go about it, the best way to get started is to take a look at the many demo accounts available on the web. There are a number of different companies offering these, such as XTB, IC Markets, AxilTrader, and RoboForex. By looking at the various options, you’ll be able to decide which one is right for you.
AxilTrader
AxilTrader demo accounts give traders a chance to try out their trading strategies without risking their own money. This type of account lets you execute trades using real-time data.
To get started, you’ll need to visit the AxiTrader website. Once there, click the “Open an Account” tab. You’ll then be asked to fill out a quick form. The information you’ll provide will be used by AxiTrader to set up your account.
During your registration process, you’ll be asked to provide your name, address, phone number, email address and a few other pieces of information. Some of these will be required for identity verification. For instance, your email will be encrypted to protect your information.
In addition, you’ll be asked to choose a base currency. Selecting a base currency allows you to trade in the currency of your choice.
XTB
If you’re interested in trading on the global interbank foreign exchange market, XTB could be an excellent choice. The broker has a wide variety of tradable assets and offers around the clock service. Moreover, the platform is user-friendly and easy to use.
XTB has received several awards for its innovative platform. In fact, it was the winner of the Best Platform category in the Personal Wealth Awards of 2016. It also boasts of a high Trust Score.
XTB offers an extensive list of assets, with more than 5,200 CFDS to choose from. They also offer the XTB trading app, which lets users access the XTB trading platform from their smartphone or tablet.
XTB also provides a variety of educational resources. This includes webinars, videos, tutorials, and a research team. You can also check out their trading glossary and economic calendar.
RoboForex
A RoboForex demo account is an ideal way to practice your trading skills before moving to a real live account. It allows you to try out different strategies and monitor the results.
Traders can open a free RoboForex demo account in a few simple steps. To get started, you’ll need to provide your email, full name, and phone number. Once you’ve entered all these details, you’ll receive an e-mail from RoboForex with the access data.
You can trade on your RoboForex demo account with fake money, but you’ll be trading with live market conditions. If you decide to switch to a live account, you’ll have to make a real deposit.
In order to withdraw your funds, you’ll need to process a withdrawal request. This can take anywhere from one to three business days. Some methods include digital wallets and direct bank transfers.
IC Markets
A demo account allows you to test out the functionality of your chosen brokerage without risking your own money. It is an ideal option for those new to the trading industry. These accounts also allow you to get a feel for the broker’s trading platform and gain familiarity with the various features.
IC Markets offers many different types of accounts. Each of these is designed to meet the needs of different traders. They range from a standard account to a raw spread account.
IC Markets is a regulated online FX broker. They offer a number of research tools designed to help you stay informed on the latest developments in financial markets. Traders also have access to a variety of charts and indicators.
eToro
If you are looking to learn about investing, you might want to take a look at eToro’s demo accounts. This can help you to test different investment strategies and understand how the investment platform works.
The eToro website provides an easy way to open a demo account. You can use your email address, Facebook or Google account. Once you provide the details, eToro will send you a confirmation link.
Using a eToro demo account helps you get familiar with the investment platform and avoid the risk of losing real money. In addition, you can also compare different signal providers and evaluate their performance.
eToro’s demo account gives you access to over 3,000 tradable markets. You can copy other traders’ trades or choose to follow the best investors in the market.