When you open a demo account you’ll be given immediate access to a version of our platform, along with a pre-set balance of $20,000 in ‘virtual funds’ to practise with.
The idea is to recreate the experience of real trading as closely as possible, so that you can get a real feel for how the platform works, as well as the different markets you can deal on and the kind of strategies and techniques you can employ.
The main difference is you won’t be using real money, so you can explore and experiment with confidence.
But demos aren’t just for newcomers. Experienced traders often like to use demo accounts to try out new tools or ideas, safe in the knowledge that they won’t result in any real-world losses.
What can you do on a demo account?
Our demo account will allow you to:
- Explore the markets – View the range of financial markets available to you and get used to how they behave
- Practise opening and closing positions – Familiarise yourself with how the deal ticket works, including how to apply stops and limits, view margin requirements, and track profit and loss
- Create watchlists – Select markets you want to keep an eye on
- Get used to using charts – Learn how to read and analyse a chart, try out different technical indicators and find your preferred configuration
- View past activity – Take a look at the details of all your previous demo trades, analysing what did/didn’t work and why
- Access news feeds and market data – We provide up-to-date market news and data, helping you to plan your strategy and identify trading opportunities
While it is designed to be as close to the reality of trading as possible, our demo account does lack some features, functionality and psychology of the real thing.
- Market movements – Trades made through the demo account will not be subject to slippage, interest and dividend adjustments, or out of hours price movements.
- Deal rejection – In reality, it is not always possible to execute your trade when and how you’d like; for instance, if the price changes in the split second between you submitting your trade and it actually being executed. This can result in your trade being rejected. In a demo environment, however, your trade will go through as requested, regardless of factors that might otherwise lead to rejection.
- Charts – You will not be charged for advanced chart packages on the demo account, but would on the full account.
- Your mindset – It’s important to bear in mind that while demo and live accounts are technically very similar, your state of mind when using each is liable to be significantly different. After all, when it’s real money on the line the decision to open a new position will seem a lot more daunting, and the decision to close a lot more difficult. And you should guard against the false sense of security that the risk-free demo environment provides.
How do you get a demo account?
A demo accounts is very easy to set up. You just have to complete a simple form, with your email address, username and password, and then you can get started.
Find out more about IG's demo account