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Demo accounts: practise first, for free
Almost every regulated broker offers a free demo (practice) account with virtual money and live prices.
How to get the most out of a demo
- Set the demo balance to what you’d really deposit, not $100,000.
- Follow the same rules you’ll use for real: risk %, stop losses, journal.
- Practise placing, changing and closing orders until it’s second nature.
- Trade for at least a few weeks and dozens of trades before judging yourself.
The limits of demo trading
Demo fills can be smoother than real ones, and it’s easier to be calm when the money isn’t real. When you switch to live trading, start with the smallest sizes.