AvaTrade Demo Account

AvaTrade - Demo Account

 

How to set up a Demo Account – Step by Step

 

To register for, and set up a demo account with AvaTrade, traders can follow these steps:

  1. Visit the AvaTrade website and select ‘Demo Account’. This link can be found below the ‘Register Now’ button.
  2. A new page will load, and the trader can opt to sign up either by completing the online form, or by using their Facebook or Google credentials to sign up for the demo account.
  3. To sign up using the conventional manner, the trader has to provide basic information such as their first and last name, email address and telephone number.
  4. Once the trader has completed the form or used Facebook or Google credentials to automatically fill in the information, a new page will load to indicate that registration for the demo account has been successful.
  5. Traders are provided with a password that has automatically been generated and which can be changed in the ‘My Account’ section on the demo account.
  6. Traders will receive an email which confirms the registration of the demo account in addition to providing the trader’s log in details and relevant links to the AvaTrade website where they can start using their demo account.

 

Trading can be a very intimidating task for beginners without prior knowledge, skill or experience in trading and through the provision of demo accounts, brokers provide a comprehensive and risk free environment for beginner traders.

A demo account is often referred to as a practice account due to it providing traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through the provision of virtual money with which to practice trading.

Beginner traders can use demo accounts to familiarize themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and develop their own trading strategies.

Demo accounts are not merely intended only for beginners, but it provides more advanced traders the opportunity to explore what AvATrade has to offer.

 

AvaTrade Demo Account Features

 

Traders have access to the different financial instruments, technical indicators, real-time prices, and more, and have an overview of trading fees in addition to execution speeds and several other components to determine whether AvaTrade will meet their trading needs.

AvaTrade’s demo account provides traders with $100,000 virtual money. The funds allocated, equity and profit are all clearly visible at the top of the demo account regardless of where the trader may navigate on the account.

The AvaTrade demo account is very user-friendly and easy to navigate with access to trade, overview of positions, orders and access to trading history. The demo account also has a live chat function should the trader need immediate assistance while using the account.

AvaTrade provides demo account users access to 10 different asset classes, each containing a variety of financial instruments which can be traded. Prices on the demo account are also provided in real-time.

 

Traders have the option of choosing between chart styles such as:

  • Bar
  • Candlestick, and
  • Line

 

In addition, the curser can also be changed to crosshair to have more agility and precision to see certain positions when hovering over the chart.

Traders can view the chart in 10 different timeframes, and they have access to a wide variety of indicators or studies which can be applied to the chart.

 

Pros and Cons

 

PROS CONS
1.      Demo account sign up fully digital
2.      Option to use Facebook or Google credentials to sign up
3.      Quick and hassle-free sign up procedure
4.      Mimics a live account accurately and efficiently
5.      Access to all functions and features as with a live account
6.      Adequate amount of virtual money provided

 

FAQ

 

What is the difference between a demo and live trading account?

A demo account provides the trader with a practice account that can be used to practice trading in a risk free environment.

Demo accounts are often suited for beginners who need to build up experience with trading as well as advanced traders who would like to test their trading strategies and explore the offering of a broker before registering a live account.

 

Does AvaTrade offer a demo account?

Yes.

 

Can I convert my demo account to a live trading account with AvaTrade?

Yes.

 

Which live trading accounts does AvaTrade offer?

  • Standard Live Account – Tight spreads, low fixed commissions, ample leverage
  • Islamic Account – which is a Swap-Free Account offered to Muslim traders following the Sharia Law. There are no overnight fees on this account

 

What are the available deposit currencies for a live trading account?

  • USD
  • EUR
  • GBP
  • CHF, and
  • AUD

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