A demo account is a type of account offered by trading platforms, which is funded with virtual money. Basically, a trading platform allows a trader to become familiar with a trading platform without making a deposit.
Funds are simulated in a demo account, therefore you can practice your execution, available trading tools, and other features or test your trading strategy risk-free. Demo accounts are offered by a wide variety of online trading platforms, including stock trading platforms, foreign exchange trading venues, and commodity exchanges. There are many different sectors that have shown interest in the concept of demo accounts.
Demo accounts are also beneficial for traders who are experienced in trading in stocks but want to experiment with other asset classes. Example, investors may want to open a demo account before they start investing in commodities, or currencies, even if they already have much experience investing in stocks. That’s because these markets are subject to different influences, allow different kinds of market orders and feature different kinds of margin requirements than the stock market.
Topic: How a demo trading account can help you learn cryptocurrency trading- Pcex.io (Read 118 times)