DESCRIPTION: Online trading can be confusing, especially for beginners. There are so many trading terms to learn, a wide range of markets and products to understand, and, of course, one needs to find a trading strategy that will work for them.
An online trading demo account can help you work through the basics in a risk-free environment. It allows you to familiarise yourself with different trading platforms and practice trading skills and strategies using virtual funds.
RESOLUTION STEPS:
- You can create a demo account on all of Deriv’s trading platforms. You can get started with 10,000 USD virtual money, which you can top up any time you run out.
- You’ll be able to open positions on your preferred trading platform to grasp how it works and explore the available assets to trade.
- A demo account can also help you with the other aspects of trading, including: i. The importance of risk management ii. In-depth market analysis iii. Developing a plan
- When is the right time to switch to a real account? - There is no definite answer to this question, but these signs may help you decide if it’s time to use a real account: i. You’ve found a winning strategy. ii. Your fund management skills have improved. iii. You manage your emotions more effectively.
For further check refer to https://blog.deriv.com/posts/why-beginners-need-to-have-an-online-trading-demo-account/