Why practise first

A demo account lets you learn a platform, test your trading plan and make beginner mistakes with virtual money. Most brokers offer demo accounts free of charge.

Step by step

  1. Choose a broker whose live account you might realistically use later, so the platform and conditions match.
  2. Register for a demo account on the broker's website or app. You usually need only a name and email address.
  3. Choose the platform (for example MetaTrader 5) and the account type that matches the live account you would open.
  4. Set a realistic balance: if you plan to deposit $200, set the demo balance to $200, not $100,000.
  5. Install the platform on your phone or computer and log in with the demo credentials.

How to practise properly

  • Trade only the pairs in your plan, during the hours you would really trade.
  • Use the position size you would use with real money.
  • Set a stop loss on every trade.
  • Keep a journal with the reason for each trade and the result.
  • Practise for at least several weeks and dozens of trades before judging your results.

Limits of a demo account

Demo trading does not reproduce the emotions of real money, and execution can be smoother than on a live account. If you move to a live account, start with the smallest possible size.