Online trading can be confusing, especially for beginners. There are so many trading terms to learn, a wide range of markets and products to understand, and, of course, one needs to find a trading strategy that will work for them.
An online trading demo account can help you work through the basics in a risk-free environment. It allows you to familiarise yourself with different trading platforms and practice trading skills and strategies using virtual funds.
You can create a demo account on all of Deriv’s trading platforms. You can get started with 10,000 USD virtual money, which you can top up any time you run out. Refer to this article for more information Demo account Top-Up (VRTC)
You’ll be able to open positions on your preferred trading platform to grasp how it works and explore the available assets to trade.
A demo account can also help you with the other aspects of trading, including:
i. The importance of risk management
ii. In-depth market analysis
iii. Developing a plan
When is the right time to switch to a real account?
There is no definite answer to this question, but these signs may help you decide if it’s time to use a real account:
i. You’ve found a winning strategy.
ii. Your fund management skills have improved.
iii. You manage your emotions more effectively.