Demo Accounts

Spread Betting Demo Accounts 2017

Before you decide to make a deposit online, most spread betting firms will allow you to open a Free Online Demo Account on the trading platform.

What is a Spread Betting Demo Account?

CI-Demo-Acc-imageA Demo account is a simulation of an online trading platform, it will mirror the live prices, technical charts, and enable you to monitor positions or buy/sell based on the spread.  However, unlike a live spread betting account, you are trading with “paper money” (fake money that you can invest with).  Capital Spreads and Tradefair’s Demo platform accounts give you £10,000 in paper money for example.

A demo account is great for getting a feel of the trading platform and enabling clients who are new to spread betting to become accustomed to the spreads and the fast movement of the prices, but you must be aware that trading in real life is so far removed than trading on a demo account. The big difference just in case you haven’t already guessed is that when real money is involved it is a completely different ball game.

It is all very well being in control when you are £500 down using a demo account but even a negative of £100 will have many people sweating when using real money.  Demo accounts do have a place though and these brokers have excellent demo platforms for you to practice on, just remember though, when you do feel ready for the real thing, start off with small stakes!

Which Spread Betting Companies offer Demo Accounts in 2017

igIGIndex.com – The demo account which is offered by IGIndex.com certainly takes some beating because it is not just a demo account. Filling in a short form gives new clients access for 14 days and there is also £10,000 of virtual funds for you to play with.

When combined with the education that this broker offers it really is a solid grounding for anyone who wishes to get involved with financial spread betting.

CityIndex.com – This broker also has an excellent demo account available for their clients. When it is used alongside the highly acclaimed trading academy the progress that a new bettor can make is extremely encouraging.

In many people’s eyes, this long established broker is up there with IGIndex.com in terms of quality, so learning the ropes with them would not be a bad idea.

CapitalSpreads.com – The demo account which is offered by CapitalSpreads.com is simple and straight to the point. Many experienced spread bettors will argue that this is all that is really needed to learn the ropes but the best idea would probably be to take a look at the offerings from each broker and see which one suits your requirements.

Intertrader.com – A special mention should be made of the demo account by Intertrader.com. This broker is going to great lengths to educate their clients with their demo account being a perfect example. It is very easy to use, gives a great introduction to financial spread betting and if you ever need help, the live chat facility is excellent.

With all of these demo accounts, just because it is not real money that you are using, try and take it all as seriously as you can. The education packages that go alongside these accounts can really teach you what’s what but just remember it is a different world when using real money.

 

How to Sign up for a Spread Betting Demo Account/

The process for signing up for a demo account at a broker such as City Index is extremely simple. In fact, any person over the age of 18 will be able to open a demo account since the requirements are much looser than if you want to open a live account.

To open a demo account now, all you have to do is visit CityIndex.co.uk, click on “Apply for a Demo Account” and then fill in the personal details.  The form will ask for your name, address and contact details.  You do not need to give away any financial information to open a demo account.

The entire form should only take a few minutes to complete.  You will then be sent an email with your username and password which will allow you to log onto your Demo account through the online platform.

Eventually when you are ready to do so, you activate your account by funding it with your own money. This will give you a live account and enable you to begin trading for real profits.

 

Advantages of a Demo Spread Betting Account

Demo spread betting accounts help thousands of new traders learn about spread betting and get real life experience using an online trading platform to buy/sell financial instruments.

However, unlike a live (funded) spread betting account, demo accounts allow you to practice trading, buy/selling and placing stop-loss orders without having to risk any of your own money.

Financial spread betting has massive risks involved since you can lose more a single trade than your initial deposit.  Thus, demo accounts provide a huge benefit to beginners who’re just looking to dip their toes into the industry and learn more about the markets.

Demo accounts at Capital Spreads and City Index each provide a simulated “mirror” platform which allows you to place trades, check prices, trading charts and edit your trading positions.  Each spread betting platform is slightly different to the next (although City Index and FinSpreads both use the same skin), which means that before you sign up a new spread betting account you might want to give the software a “test run” before you make a deposit there.

The range of technical tools and charts that spread betting demo accounts allow you to use are also really helpful for beginners.  Learning how to use technical tools such as candle stick data and Bollinger bands is one of the most fundamental steps for technical analysis.  You can eventually learn how to find base or support levels and understand historical movements in different global markets.

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