Do you want to start trading but have never done it before? Then try trading with a demo account at one of the following brokers and see whether trading would be profitable for you!
Brokers with demo accounts
- Markets.com: free unlimited demo. Register now>>
- Plus500: free unlimited demo with virtual £40,000. Register now>>
Click here to see the broker overview; here you'll find a lot more brokers with whom you can try out investing through a demo account!
Opening a demo account
Opening a demo account with the broker of your choice is very simple! Often when you open a demo account you only need to fill in an email address and password. Then you receive a certain amount of fictitious money with which you can start trading. This is the perfect way to learn to invest as the conditions are identical to those of the stock market; the profits, however, are also fictitious!
When you're ready for the real action, you can quickly and easily change your demo account into a real account. For this you have to fill in some personal information (which is required by the European Union to combat money laundering) and then you can easily deposit money, for example via PayPal or bank transfer. With many modern CFD brokers, you will receive a free demo of up to £40,000 of the initial deposit! That way you immediately have a nice margin for making errors.
Benefits of a demo account
For people who have never traded before, it is always advisable to first open a free demo account. With the demo account you learn right away how to deal with the software and the tools available. By opening positions at different times, you learn what is and what is not wise, so once you start investing real money you will immediately achieve better results.
A demo account can also be very useful for the experienced investor. You can test new strategies and trading methods before they actually apply. That way you limit the risk and you can achieve the highest possible return!
But how do you as a beginner actually get started with a demo account? It is wise to first take the trading profitably course so that you understand what trading is all about. Then you can easily get started with the broker’s software. With most modern brokers you can easily open and close positions so you can get started right away.
Wait before you make your first deposit! Your first deposit can quickly disappear if you make a wrong move. It is wiser to practice first with a demo account with fictitious money so you better understand the features and capabilities of the demo. When you are ready to trade with real money, you activate make your first deposit.