Lesson #6: Why should I trade using a demo account?

Trading can be a daunting task, especially for beginners who are just starting out. That’s where a demo account comes in handy. A demo account is a simulated trading account that allows you to practice trading without risking any real money. There are several reasons why you should consider using a demo account before trading with real money.

Firstly, a demo account allows you to get familiar with the trading platform. Every trading platform has its own unique features and layout, and it can take some time to get used to them. By using a demo account, you can familiarize yourself with the platform and its features without risking any real money.

Secondly, a demo account allows you to test your trading strategies. Trading strategies are essential for making profitable trades, but it can be difficult to know if a strategy will work without testing it first. With a demo account, you can test your strategies in real-time market conditions without risking any real money.

Thirdly, a demo account allows you to gain confidence in your trading abilities. Trading can be stressful, especially when real money is involved. By using a demo account, you can gain confidence in your trading abilities and reduce the stress associated with trading.

Finally, a demo account allows you to identify and correct any mistakes. Making mistakes is a natural part of learning to trade, but it can be costly if you’re using real money. With a demo account, you can identify and correct any mistakes without risking any real money.

So, using a demo account is an excellent way to prepare for trading with real money. It allows you to get familiar with the trading platform, test your trading strategies, gain confidence in your trading abilities, and identify and correct any mistakes. So if you’re new to trading or just looking to improve your skills, consider using a demo account.

Try different brokers

Different brokers have different offers and you can practice using their software before you commit to real money trading. You can compare the different brokers:

	Rating	Special offers
	★★★★★	$30 no deposit bonus (withdrawable profits)
	★★★★★	Advanced analysis tools (including Trading Central)