In this article, we will explain how to trade with a demo account at FBS, an overseas FX broker. Since there is no risk and no return with a demo account, it is better to think of it as a practice account. There are also contests for demo accounts, so if you are interested, try opening an account.
What is a demo account?
Unlike a real account, a demo account does not trade with real money. It is a practice account type. This is an account type for beginners, so please apply after checking the information and specifications. You cannot choose the server, but it will be assigned to you. You can set your own password and place orders as you like when you have time. The amount is virtual, so you can add as much as you want later. At first, you can practice online with major and minor currencies to acquire skills. At the end, you will earn profits and tend to move on to real trading.
virtual money
The money used is fictitious. Therefore, traders will never lose no matter how much they lose. On the other hand, they will never gain. It can be said that this is an account type with absolutely no risk. At the very least, in the real world, losses will occur depending on the person and level. It will be a good opportunity to analyze the next fluctuating market while analyzing. It is a place to practice increasing your assets while using multiple functions. There is no problem with accessing and trading at large prices. Let’s try the major stocks.
practice account
A demo account is only for practice purposes. Therefore, it has no benefits for experienced traders. It is an account type used by beginners who have never traded before to practice. Product contents include stocks, currency pairs (USD, EUR, JPY), stock indexes, precious metals, energy, etc., as usual. It supports instant EAs, so it is easy to manage even for beginners. You can also rent a VPS from the official website. The same goes for tools such as metatrader.
Demo and real life are different
Even if you can win with a demo account, it doesn’t mean you can win with a real account. It’s not that easy with a real account because there are economic indicators. With a real account, you can lose money, so you need to be mentally strong. However, the environment is the same, with high leverage and tools. Once you’ve logged in, you can start trading right away. Think about which one you want before using the service.
How to open a demo account
Opening a demo account is very simple. Check out the article below. If you follow the steps, you will be able to open an account just like a real account. In the case of a demo account, you must first open an account. You can set up your account right away by entering your email, preferably personal information (name, date of birth, address) and uploading your ID. Uses a different server from real accounts. Currency pairs and fees are the same. You can check it in your personal area.
Features of demo account
The demo account at FBS has the following characteristics: You can easily trade with the click of a button. There are many types of financial products, just like real accounts, and there is no need to add new funds from the bank even if you incur a loss. The important thing is that it is virtual money, so if you request it completely risk-free, the system can issue the money or amount. This will be your training ground to become a market professional, so let’s do it with the minimum lot.
There is an expiration date
FBS demo accounts have a validity period of 45 days. Once the expiration date has passed, your account will be automatically suspended. In this case, you can start trading again by creating a new demo account. Currently, the platform is MetaTrader, and you can use it immediately by downloading and installing the latest version yourself, so let’s take advantage of it. Investors can compete in any style they like.
Demo account trading conditions
A demo account is almost the same as a real account. Demo accounts are also subject to leverage restrictions, just like real accounts. This is the same regardless of account type, so there is no change in trading conditions. There is no need to make a deposit even if the margin balance for credit card payments or virtual currency decreases. It’s all virtual money. Contract rejection will not occur. FBS also has a financial license, so it is reliable.
base currency
For demo accounts, the base currency is the US dollar. There are three account types (Cent, Standard, and Pro), and transactions can also be made through the app. If you have any problems with your investment or internet connection, please contact our support desk. He provides detailed explanations on the screen.
Demo account contest
For demo accounts, we hold trading contests. Its name is FBS League. The event will be held once every two weeks, and users who have opened a demo account can participate. You can get more details by contacting our support center. The prize money will be $750 per person, and 20 people will be selected. There are two types of contests: individual competitions and team competitions.
FBS league event overview
Participation is limited to those who have opened a demo account. Maximum prize money is $750 per person. The event period is once every two weeks. Winners and losers are determined by the order of profits. Also, the winnings can be converted into cash and can be withdrawn.
Individual and team competitions
In individual matches, the winner is determined by the profit of one player. For team competitions, teams must be made up of 3 or more people. Ranking is determined by the size of the team’s overall profit.
Prize money
In the case of individual competitions, prizes will be awarded to 1st to 5th place.
| 1 | 450$ |
| 2 | 250$ |
| 3 | 150$ |
| 4 | 100$ |
| 5 | 50$ |
In the case of team competitions, 1st to 5th place will be eligible.
| 1 | 900$ |
| 2 | 600$ |
| 3 | 300$ |
| 4 | 150$ |
| 5 | 150$ |
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