Are you an inexperienced trader and want to test your skills, then Avatrade is the best option for you?
There are many types of Avatrade account. You can choose the best account that suits your requirement. There is also a demo account for each type of Avatrade account. If the +demo account goes well for you, then you can switch to the live account. Otherwise, you can go to the other demo account.
If you are a new trader and you want to test your skills, then you can start trading from the Avatrade demo account. Opening the demo account doesn’t need any experience. It is very easy to open an Avatrade demo account.
AvaTrade Demo Account Features
- Avatrade demo account offers 100,000 virtual funds.
- Gives an overview of the trading fee.
- Provide a real-time environment with real-time prices.
- Offer a user-friendly environment.
- Users can switch to a live account
- Users can access to trade history
What Types of AvaTrade Demo Account are Available?
When you go through the process of opening a demo account, there are different account types. There are five different account types. These are micro account, standard account, ultra-low account, ZAR account. Each offers different trading facilities. These accounts are regulated with six different jurisdictions to make the transaction transparent.
The user based on EU can access the Avatrade retail account. The retail account offers 30:1 leverage, and it contains $100,000 virtual funds.
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But if the user is not EU based, then he will open the standard account that offers leverage of 400:1.
Pros and Cons
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Pros:
- Gives the option of signing up through Google and Facebook
- The signup procedure is easy and quick
- Users can switch to a live account
- Virtual funds are also available
- Doesn’t charge any commission.
Cons:
- Feeses are really high
FAQ
What is the difference between a demo and a live trading account?
A demo account provides a risk-free environment. A trader can use it for practice and test his skills and strategies.
Whereas a live account is a real account. Here traders have to perform their trading skills. Otherwise, they can lose their funds. A demo account is a real-like account but not a real account.
Another difference between a demo account and live account is demo account uses
Is a demo account real money?
A demo account offers virtual funds. These funds are not real but fake money. It is provided for the purpose of the experiment. So the user can decide whether to switch on a live account or not.
Why is demo trading bad?
A demo account is a good option if the user is a beginner and wants to learn about trading. But for advanced trading, a demo account doesn’t tell about how to make a profit from trading. A demo account is good for basic training.
Final Words:
If the user is a new trader and wants to practice skills and experiment with his strategies, then the better option is the Avatrade demo account. If the account type matches his trading skills, then the user can switch to a live account; otherwise, he can select another account type.
The virtual funds are also useful to create a real-like environment. Avatrade demo account is good only for practice; otherwise, experienced traders should choose a live account.
