Many of you have heard about how helpful the Exness demo account is to learn the basic trading skills and be a professional trader out in the market. And to guide you more about the Exness demo account, we are here with a detailed guide for you.
A demo account, evident from the name, is a free account to create to practice the art of trading. With the demo account, you can learn effective strategies and tools to run a successful Forex trading member of the Exness broker platform.
Introduction to Exness demo
Exness demo account is one such trading service with which you can perform trading with virtual money and with low-risk engagement. The trading environment and interface of the demo account are the same as if you are practising forex trading on a live trading account.
A demo account is available for trading as a part of the Exness service, free from additional charges. With the Exness demo account, you can start trading with virtual funds of a maximum of 10,000 USD to see how the results emerge in front of you.
The demo account trading is based on virtual funds, so you don’t need to worry about whether you lost the money or did not receive the desired results.
How to set up an Exness demo account – step by step tutorial
To get registered or to set-up, a demo account with Exness, follow the below-mentioned steps carefully:
- Visit the official site of Excess and add all the details on the page which they require for. Choose the residential country, provide an email address, and pick a strong password for your account.
- Once the trader has signed in, they can access the personal area on which a banner of “demo” is posted for creating a demo account.
- As soon as the demo account is created, you can efficiently perform the account basics by depositing virtual money of US Dollar 10,000.00.
Setting up the demo account is not a challenging task at all. In just a few steps, you can easily approach the opening of a demo account to have an experience of real-time trading. Make sure you trade like a professional. Do not miss the chance to grab some inside secrets and trading strategies for future success.
Who can use the Exness demo account?
Undoubtedly, trading is an intricate process for beginners who lack basic knowledge, trading skills, or experience. But with access to a demo account, you don’t need to take the stress of it at all!
The demo account provides you with a risk-free and friendly environment to highlight all the comprehensive details about trading.
A demo account is also known as a practice account with which a trader can also learn more about what Exness broker is and what else they offer. In short, a demo account is all about reaching the first step of the trading ladder in a friendly environment.
Both beginners and advanced traders on Exness can benefit from the demo account.
What are the advantages of using an Exness demo account?
Below we will highlight few essential advantages of using an Exness demo account:
1. No need to start trading with real money
One major benefit of a demo account is that it is free from investing real money at any stage. Instead, all you need to trade is virtual money.
To be a professional trader, you need to improve your FX trading technology, which requires practice. And a demo account will provide you with this practising free of cost.
2. Allow you to trade real rates in real-time
In addition to the Exness demo account, you can prepare yourself to battle with a real trading environment in real-time.
You can also study Forex trading through educational videos or materials. But with a demo account, you get the experience to move into real rate fluctuations.
Exness demo account is available with the free version of trading in which the entire interface is similar to the real trading account. With real rate fluctuations, you can quickly figure out how the whole process of trading works.
What are the disadvantages of using an Exness demo account?
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Every broker demo account has some drawbacks which a trader should know before opening an account. The same is the case with Exness! So let’s highlight a few essential drawbacks/disadvantages of using the Exness demo account:
1. Demo and live trading have different interfaces
We have already mentioned that the demo account is all about virtual funds. So it is clear that its most significant drawback is no risk or cost. This might be a merit for the Exness broker, but it is a demerit for any trader.
In general, the results you are gaining from a demo account can somehow be different from real trading results.
Any person who is moving into Forex trading is just aiming to increase their invested money.
As a demo account is free from risk or fear, the trader won’t accept any huge loss they can experience in a live trading account.
2. Demo trading account has an expiry date
One significant difference between a real account and a demo account is its expiration date. Once you know the basic trading strategies, you can remove the demo account and create a live trading account.
The demo account has an expiration date for those traders who are not availing of this account for practice purposes. It should be a continuous process in which no break should be involved.
Bottom line
We hope you have got enough information about the Exness demo account and how you can open it with this guide. No doubt, the service of demo account is the best opportunity to avail excellent trading tools and learn some great trading strategies.
Like the rest of the broker platforms, the Exness demo account does not involve any fees for opening an account or commission. Visit Exness broker’s official site and open your demo account right now.