What is Forex Trading Demo account? Why is it important in Forex Trading?

Are you curious and want to start trading but at the same time you don’t want to take any risk of losing your hard earn money? Well in that case, there is a perfect tool for each new traders or anyone who wants to experience the process without even investing a single penny, and that is called a Demo account.

If we are entering into a new territory, it is very crucial to know each and every functions and tool which will give us leverage in our trading. A demo account is a perfect tool to practice to test patterns and functions of each platform.

Here in Mitrade, we provide the most reliable and trusted method to practice your trading skills.

The demo account Mitrade provides is mostly similar to that of a Live account in terms of trade interface. With each demo account Mitrade will provide with USD 50,000 (INR 3.9-4 lacs approx) virtual money to start off with your trading. You can use these virtual money to get familiarized with our platform interface, data points, explore investment operations without risking your capital.  

-  Indeed demo trading is the real deal, but it is a great tool to prepare you mentally for the actual trading.  

-  You can use demo account to get familiar with various platforms and experiments various trading strategies.

- You can check with the price trends and fluctuations and the risks involve.

- With demo account you can develop your own trading strategies according your preference and capacity.

- A stress free trading experience will help you feel more comfortable and help understand the risk management of the platform. 

-Having access to more historical statistics will help you collect necessary data and provide more in-depth market information.

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1)       Download the Mitrade trading app or go to Mitrade Website.

           2)   Once you downlaod the app, On the main home page, you will see “Hub” at the right side corner. Click on “hub”

3)       Now will see a “Login/Signup” Option on the Hub page, Click on it.

4)   Use your preferred sing up option and log in.

5) Once you log in, you click on “Hub” to check your demo account. You are all set to start your demo trading

To be more straight forward, trading in real life with live account and demo account will have a considerable difference. We have to understand that any kind of trading involves risk, while trading with our capital we have to be more cautious. That’s where demo account plays a vital role in developing our experience in handling those risks or better avoid it. Even if you are seasoned trader or a rookie who just want to try luck with trading and earn few bucks, it’s always a good idea to try and test the tools you are going to use.