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Or you can learn how to set alerts and monitor different markets at the same time. Story continues Practice trading — with a similar data feed to a live account, market conditions on your demo account will mirror the live markets. Build up your confidence in your strategy and how you use a platform, in a risk-free environment. If you are more experienced, you can try out other, new strategies that you think might develop your trading success. You can test and tweak parameters to fine-tune results, assured that there is no risk involved.
Get to a point where position sizing and the placing of stop and limit orders is second nature, as this makes moving to a live trading arena a lot easier. By navigating around the trading platform, you can have the confidence to use all the tools you want to use at the right time. How do I open a demo account? To start trading on a demo account, you need to open an account with a recognised, regulated broker. Once you have your account number and password, you should download MetaTrader4, the most popular and widely used trading platform in the world.
The numerous built-in features mean demo account trading is ideal for getting to understand all the functionality of the platform. It is always best to keep your demo trading account rules as close to your real account as possible. Using similar position sizing, risk amounts, leverage and strategy will help when you progress to a real account.
Demo account trading allows you to practice trading with virtual funds. Perhaps you want to test strategies on the go with a mobile app? Or access educational content to take your trading to the next level? It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance.
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