If you want to try financial trading, be it Forex, cryptocurrencies, stocks or for example commodities, you should always start on a demo account. Always.
The reason is that in trading you can make, but also lose money, and making money is not automatic. You have to learn things, profitable trading is a skill, you have to build a profitable strategy and execute it flawlessly.
On a demo account you can try trading with virtual money. Everything works like in real trading, but you are not risking your own money. So, you have the freedom to try different things to see what works and what doesn’t. This way you can find your path to profitable trading, prepare yourself while not risking any money.
62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
When you are able to trade profitably on the demo, you can switch to a real account and start carefully trading with real money. If you are not able to be profitable on the demo, it doesn’t make sense to go live, because trading live is not any easier than the demo.
The demo account is unrestricted in time and money, you can use it as long as you wish.