Practice accounts are designed to teach Forex trading. They simulate trading on real accounts – you trade in the same terminal, see the situation on the market and get quotes in a simulated market environment. The main difference between a demo and a real account is that you trade virtual money, not real. So you make no deposit, risk nothing, and can’t lose money. It gives a lot of advantages.
You can test the riskiest strategies.
See if your advisors are up to snuff in the dedicated risk-free environment.
Test your prowess and trading strategies before entering the real market!
Do not limit yourself to EUR/USD. With JustMarkets demo accounts, you can trade over 100 instruments, including currency pairs, stocks, indices, metals, and energy commodities.
Forex is simple, but it is risky. With JustMarkets demo accounts, you can practice to your heart’s content and enter the market only when you are ready. Moreover, they are completely free.
1. Log in to your Back Office. If you don’t have an account yet – Sign Up;
2. In the menu "Account Operations," click the "My accounts" tab;
3. On the "Demo" page in the "Trading account" section, click "Open New Account";
4. Select the desired account type on the preferred platform page in the "Open New Account" section and click the "Try Demo" button. You will find the detailed trading terms for each account type here;
7. Set the main password, which contains from 6 to 15 symbols, including at least one Latin letter and one digit;
8. Set the desired balance of your Demo Account;
9. Click the "Create Account" button.
From that point, you can sign in to your forex demo account with MetaTrader 4/MetaTrader 5.
You can’t withdraw money from a practice account. You can profit from trading by using a real-money account only.
Stop thinking that forex is a casino where everything is down to luck. Anything that happens in the market is predetermined by specific factors, and you need to understand them.
Read market analytics and place your orders based on trustworthy technical and fundamental data. Do not chase wild volatility. Develop a consistent trading style.
Making a profit on a daily or weekly basis is a sure sign that you understand the rules of the market and are ready for a real-money account. Otherwise, keep practicing.