Advantages of a demo trading account
There are numerous advantages to having a demo account. For beginners, it enables you to learn how to open and close positions, read price charts and practice using trading in complete safety until you’re ready to transition to a live trading environment. You’ll be practicing under real market conditions, which is a great way to get to grips with risk management.
A demo account is also a must-have for more experienced traders to continue honing and improving your existing trading skills. As you develop or discover new strategies and techniques, it makes sense to test them first to see how these methods are likely to perform.