In this all-digital age, futures trading is one of the business alternatives chosen by many people. This is because the capital required is relatively small and the potential results are quite large. However, transactions on the futures market involve a high level of risk that must be managed with a sophisticated strategy.
Therefore, before committing real money, a trader needs to learn and improve their trading skills, one of which is done through a demo account.
A demo account is a type of account provided by brokerage firms for anyone who wants to learn and practice their trading skills. On a demo account, you can trade with virtual data instead of real money, but with real market conditions and prices, giving you a real trading experience.
This account can be used by beginners who want to learn how to trade to experienced traders who want to test new strategies.
Benefits of using a stock trading demo accounts
As a novice trader, you will experience several benefits from a demo account, including:
- Best simulation tools
Demo accounts are the best tool for traders who want to learn how to trade without risking losing capital. This will help you get used to the trading mechanism and existing trading features. In fact, you can test trading strategies or signals without worrying about losing.
Of course, since you are not using real money, you cannot withdraw profits from transactions on a demo account either.
- Character building
One of the most important points in learning to trade through a demo account is the ability to prepare and form the appropriate and necessary character to become a professional trader. Exercise discipline and patience while waiting for trades to open or close, both in profitable positions and in losing ones. It also gives you the emotional stability you need to become a successful trader.
- Know the characteristics of the instrument
With a demo account, traders can practice their skills in analyzing the market and learn more about the characteristics of each available futures instrument such as forex, gold, crude oil or stock indices with real trading conditions and experiences. .
- Proof of achievement through portfolio
Last but not least, the portfolio on a demo account will be an early indicator that a trader is able to meet the requirements to move to the next stage, trading on a live account. With consistently implemented strategies, stable psychological conditions and understanding the conditions of the selected instrument, the results of your transactions when using a demo account can be proof that you are ready to trade on the real market.
It’s easy to learn to trade from a smartphone
To keep up with the times, learning to trade with a demo account can already be done using a smartphone. With the internet, you can practice your skills and develop trading strategies through the Valbury application.
Armed with virtual funds starting at $10,000, you can trade different types of futures investment products ranging from forex (18 currency pairs from different countries), precious metals (gold/silver), oil (crude oil) or stock index (stock index) America and Asia).
With #SelaluAdaValbury you can simulate real trading using various interesting available features such as: B. SL (Stop Loss) / TP (Take Profit) feature to maximize profit potential and manage or limit trading risk and Market Sentiment feature to view trader position preferences.
Apart from that, the trading signals feature is also available for transaction position ideas sent as notifications to smartphones. You can find different trading ideas in the palm of your hand every day.
You can also enrich your insights by accessing the latest news and market outlook every day. You don’t have to worry about the demo account being reset, the Valbury application allows you to store and study the transaction history indefinitely. When you feel ready, you can easily switch to a live account at any time.