Why start with a Demo Account?
A demo account is a type of account offered by trading platforms that allow you to trade virtual money in a simulated trading environment. Demo accounts are often used to try out different trading strategies, test out the trading platform, and get a feel for the market without risking any real money.
There are several benefits of using a demo account before trading CFDs:
1. Risk-free: Demo accounts allow you to trade without risking any real money, so you can try out different strategies and see how they perform without any risk.
2. Learn the platform: Demo accounts can be a great way to familiarize yourself with a new trading platform and learn how to navigate it.
3. Test strategies: Demo accounts allow you to test out different trading strategies and see how they would have performed in the real market.
4. Build confidence: Demo accounts can help you build confidence in your trading skills and become more comfortable with the market before you start trading with real money.
I have a review of Plus 500’s Demo Account here.