What is a demo trading account?
A demo account is a simulated market environment offered by a trading provider that aims to recreate the experience of ‘real’ trading as closely as possible. This is so that you can get a feel for how different products and financial markets work. The main difference is you won’t be at risk of losing any money, so you can explore and experiment with confidence.
When you open a demo account with us, you’ll get immediate access to a version of our online platform, along with a pre-set balance of £10,000 in virtual funds to practise with.
Why use a trading simulator?
You can use a trading simulator, such as a demo account, to enable you to get to grips with a platform, build your strategy and grow in confidence, without having to risk any real money.
Trading simulators aren’t just for newcomers. As an experienced trader, you can use demo accounts to try out new strategies, tools or ideas, safe in the knowledge that your experiments won’t result in any real-world losses.
You’ll often see demo accounts described as ‘paper trading’, which is the term to describe simulated securities trading. With an IG demo trading account, you’ll gain access to over 17,000 markets, including:
What can you do on a demo trading account?
A demo account will enable you to see the financial markets available with IG, and get used to how they behave. You’ll be able to set alerts on markets you want to keep an eye on, so you can react instantly to any price volatility. The demo account will also help you get used to the IG platform, ensuring that you can read and analyse price charts, fill in the deal ticket and monitor open positions.
If you’re interested in using more advanced software, you can also get an MT4 demo account with us. This enables you to build your understanding of the MetaTrader4 online trading platform in a risk-free environment.
Can I practise trading stocks and forex for free?
Yes, you can practise stock trading and forex trading for free with an IG demo account. No need to create a separate forex demo account or stock demo account – you can trade both markets via a single login.
Can I practise CFD trading and spread betting?
With an IG demo account, you can practise CFD trading and spread betting risk-free. These two products both use leverage, which enables you to gain full market exposure for just a small initial deposit. While this can magnify your returns, it can also magnify your risk – so it’s important to get to grips with how they work before you start to trade on live markets.
What is the difference between a demo trading account, trading simulator and paper trading account?
There is no difference between a demo trading account, trading simulator or paper trading account. All of these terms are just synonyms for the same type of simulated trading platform.
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