The main task of the training statement is to teach them how to work in the dealing arena and give them practical experience in making transactions without risk to real capital. Shares, bonds, futures, and currency pairs are available on the training account. The quotes will differ from the real one, as the demo account is designed to learn the technical features of the trading platform, not for real dealing. Usually, a demo account is opened for one month. As a rule, this period is enough to learn everything. If you want to continue to practice on a training account, you can register a new training account for a month.
The training account is opened very simply: the application is filled out on the broker’s page and the client receives the keys and instructions on how to work with the trading terminal. It is free for everyone. The training version is a regular stationary dealing terminal, so you can not use it from mobile devices.
IC Markets demo is quite good. You can empty a demo account on the website. You must procure some fundamental data, including your name, region, email address, and phone number. You can again use the budget for training objectives to test the dealing program.
There are 4 categories of training funds, and each has its adepts and cons. It can let you place halts and latitudes. Some demo accounts even have portable apps. If you are insecure about which training account to use, contemplate evaluating user calculations.
It should be noted that the virtual account carries a significant drawback. Addiction to the absence of real risks. The trader gradually gets used to the fact that works with virtual tools and can withstand large drawdowns to achieve better results.
Initially, the main purpose of the training account was to allow the user to get acquainted with the dealing platform and generally evaluate the company’s services. However, later traders began to use this type of account for training their abilities and strategies. With the development of algorithmic and automatic trading, demo accounts became an indispensable tool, allowing the final run-in of the robot before work on real accounts. It is a copy of the real trading account, but only instead of real money, dealing is conducted on a virtual deposit. Many brokers who provide these types of learning accounts match their actual prototypes. By the way, this approach allows not only to better know the platform but also to try each type of dealing account and assess its terms, without risking your money.