Before choosing a CFD provider, you should take a test drive with a free demo trading account. Setting up a CFD Trading demo account is a straightforward task. You have to fill a standard registration form; with necessary personal information such as telephone number, email address, username and password, and then you can get started.
When you register a demo account, you’ll be given direct access to a demo trading platform, together with a pre-set balance of- virtual funds’ to practice. The purpose is to simulate the experience of actual trading as closely as possible so that you can get experience, training and knowledge of the platform’s features, markets behaviour and evaluate your trading skills. The key difference is you won’t be investing real money, so you can examine and test risk-free. However, demo trading not limited for novices. Seasoned traders often use demo accounts to test new tools or strategies, a safe bet since they won’t cause any real losses.
When real money’s at stake, executing a new trade and closing an existing one will seem a lot more daunting. And it would be best if you secured against the false sense of certainty that the risk-free demo trading environment provides.
Testing a few different providers by opening free demo CFD account would help you to choose a CFD broker