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Difference between demo and live trading accounts

As a rule, every broker offers it clients to open demo account first. This can be done in two ways: on the broker’s website, which requires registration with the broker or directly in the trading platform (while starting it after installation or later during the process of operating) by selecting the demo server in the registration form. In case you have already opened a demo account in the trading platform, you can bind it with your Client Cabinet. This option is available in the Trading Accounts section. Operating trading accounts from Client Cabinet increases capabilities of managing demonstrative account, enables traders to top up accounts with no limits, and allows them to check account balance with no need to download and set up the trading platform (like when you have no access to your computer). Experts recommend spending no less than a month on demo trading and studying the forex market theory. First of all, trading on demo account helps beginners built up self-confidence and decide on whether the time comes to start trading on live account with real money or they still need to master their forex skills on training account for a longer period of time. Besides, novice traders should regularly analyze the results of their performance on the market and the quality of services provided. The first rule of trading on demo account is to be careful with virtual money as if it was real. Often, trading on demo account can result in trader’s decision to change the provider of brokerage services or even to stop trading in the forex market. Not all people are able to achieve success on Forex as it requires a wide range of personal qualities, including strong self-control, patience, an ability to take risks etc.

You can open live trading account in Client Cabinet. In order to get access to Client Cabinet, you need to fill in the special registration form. The registration with Client Cabinet gives you extended opportunities to conduct operations of any kind on your trading accounts, will be reflected in the personal information section. Client Cabinet is a unique service, which enables traders to easily manage any number of live trading accounts, change settings (change the password, adjust leverage, manage report mailing etc.), perform various financial options, such as depositing, withdrawal, and transactions. Both novices and savvy traders will appreciate convenience of work in Clint Cabinet making efficient use of numerous functions, including statistical reports on all trading accounts of the holder.

In case you are a beginner in Forex, we recommend that you open a demo account in order to test different strategies, study the trading platform, and master your trading skills.

Основные отличия в работе на демо-счете и реальном торговом счету заключаются, как правило, не в технических особенностях, которых практически нет, а в совершенно ином психологическом состоянии трейдера, работающего в первом случае - с виртуальными деньгами, а во втором случае - со своими "кровными", реальными деньгами.

The major difference in trading on demo and live accounts lies in holders’ psychological state rather than technical characteristics, which are nearly the same. Working on demo account enables traders to feel safe as they use virtual money in contrast to live account where they put their own real funds at risk.

While mastering your trading skills on demo account, you take any losses well and exult in huge profits.  However, trading on live account is likely to present a great challenge to those with a lack of knowledge and experience on Forex. Even if fluctuations in account balance do not top one ruble, US dollar, or Ukrainian hryvnia!
Do not try to push forward a training period on demo account and start trading on live account. Your further success in real deals will be largely based on the experience that you manage to gain from trading on demo account. Only if you intend to master trading on live account using nominal sums of money, passing by demo account makes sense.   

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