In this article we’ll take a look at DEMO online trading platforms, and we’ll pay special attention to the word DEMO, in other words the opportunity to trade by practising with a demo account.
But what exactly is a demo? As you probably already know, a demo is either software or a platform designed in such a way as to allow the user to personally evaluate the characteristics of the product prior to purchasing it.
Having clarified the above, how does a demo work for trading?
With a demo trading platform you can trade with a virtual budget, which is made available by the same broker that offers the platform. In doing so the user has the opportunity to experience the demo trading platform first hand, without, however, running any investment risks and without facing any costs.
In the table below you’ll find some of the most reliable trading platforms with free demos.
Seeing and Trying is Believing
By selecting any of the platforms listed above, you can start practising with a demo in a minute or less, depending on your familiarity with a keyboard and with the registration process in general.
Take for example the Plus500 platform, one of the most appreciated in CFD trading, which allows you to trade on around 3000 instruments to which new ones are always added, including new cryptocurrencies (go to cryptocurrency trading platforms). Its constant updates, as well as its free demo, represents its strength which you are sure to appreciate.
So, let’s try to register. Five small steps. Ready? Go.
Step 1. Click on “Free DEMO Account” under the blue button on the Plus500 page
Step 2. On the next page, choose Demo Mode
Step 3. Click on “New user? Subscribe now”
Step 4. Enter your email address and a password in the required fields
Step 5. Click on Create account
There you go, your registration for the free demo is complete. Easy, wasn’t it? A similar procedure applies for all the other brokers in the table above.
Try the demo of the broker you selected
Above we detailed the registration process to access the demo platform of a particular broker, one of our favourites. However, as we have just highlighted, the procedure is similar for other brokers too.
It is important that you know that you can try a free demo without any obligation to your preferred broker, as long as they offer this option. In reality, this is a standard offering, as almost all the most important brokers in the world offer the possibility of exploiting a demo trading platform.
A broker can be selected based on numerous factors, which we’ll also discuss in this article, and based on your own trading and balance sheet needs.
Considering this, in addition to the brokers you might already be aware of, we recommend other very popular brokers, with hundreds of thousands of users, brokers we have already tested and are currently using during our trading activities. For this very reason, in addition to the table on this page (see the beginning of the article), on our website you will find numerous reviews of all the most important CFD and Options brokers, which operate in the field of stocks, Forex, materials, ETFs, and more.
Trading is certainly an exciting activity, we are sure you’ll enjoy it more as you take advantage of the opportunity to learn or better yourself by taking advantage of a free demo.
Simulation in online trading
Simulation in general represents an important form of learning and training in multiple fields. Think of Formula 1 drivers, or of aeroplane pilots. Simulation is also important for professionals at the highest technical level.
Even more important, simulation becomes critical to those who have little to no experience and need to gain confidence with the instrument before operating with real money.
As for trading, simulation is important for:
- Those starting off: think of the convenience of learning theory and at the same time practice on a demo, without any risks. Practice represents the most effective method of assimilation of the notions and their memorization.
- Those wanting to improve: this is the case of those who already know trading basics and want to improve their technique, for example by learning to use technical analysis tools
- Those studying new strategies: this is the case for those who are already trading at a technical level but are looking for new ways to achieve personal success, in terms of strategy and methods
- Those wanting to try a new platform: there are many traders and just as many platforms. You may want to evaluate another platform for various reasons, including the spreads offered by the broker, or other types of advantageous conditions.
Trading online without registering
The greatest opportunity in using a demo online trading platform lies not only in the ability to practice, but also to do so without any kind of obligation.
Let me explain.
Have you ever signed up for a software demo only later to receive an email saying “the trial period is over, you need to pay x amount per month for the remaining 11 months”? Well, if this has never happened to you, consider yourself lucky.
The trading demos we recommend require a “demonstrative” registration, that is to say you use personal data, whether true or not, which in turn isn’t transposed onto a contract requiring payment. The trading platform demos we’ve select apply only for a free trial version of the trading platform, without any subsequent obligation.
The proof of this fact lies in the “registration” phase for the demo, where no sensitive data is requested, such as your tax code or a credit card. Furthermore, you can enter your real name or a fictitious one, your real email or a fictitious one, since nobody will check these. Sensitive data will be requested (rightly) only if you want to switch to the real mode.
These tests are only valid to show you that when we talk about free demos, it means that you are not forced to deposit any funds, neither at the beginning nor ever. If you like it, continue and even open a “real” account with which to operate with real money. If you don’t feel ready, stay with the demo. If you don’t like it, uninstall it (in case you have installed any software) or simply stop using the platform.
Best online trading demo
How does one evaluate the best online trading demo? The answer is actually not specious, but very simple.
The answer is: based on your needs.
- Choose based on your experience: if you’re a beginner, we advised you to evaluate certain demo trading platforms. If you are an intermediate, advanced or experienced trader, you can evaluate others.
- Choose based on the instrument you prefer to trade: depending on whether you prefer to trade on the Forex (currency exchange), the stock market, the funds market, indexes, commodities, or so on, you can choose a broker that offers a selection of wider tools or more convenient conditions for trading them. For example, there are brokers that offer lower spreads than others on certain categories of financial instruments, or on individual financial products (e.g. a very low spread for the EUR/USD currency pair).
- Choose based on the financial instrument you prefer to negotiate: this is a big difference compared to the previous point. In fact, in online trading we mainly operate with two types of instruments, namely CFDs and Options. Depending on your preference, you can choose the type of broker that specializes in that particular financial instrument (derivative).
Guide plus demo, perfect combo
In light of what has been said so far regarding demo trading platforms, let’s summarize:
- They’re free
- They’re effective for learning
- They’re not binding
- You can choose one according to your needs
In summary, it’s a perfect tool, ideal for undertaking trading activities, both for an amateur approach and for a professional or semi-professional approach.
What’s missing? Just the theory!
To practice, you’ll need to start with some theory. Where do I find this theory? Easy: on our website.
- If you’re interested in trading with CFDs, consult our complete CFD guide
- If you prefer binary options, see our guide on binary options
- If among the various markets, you are interested in Forex, consult our complete guide to Forex Trading
- If you have a fever for cryptocurrencies, read our section on cryptocurrency trading
Now it’s up to you. Are you ready to start practising and learning with a demo?