If you want to trade stocks, ETFs, or currency in a forex market, you may want to try a demo online trading account. If you do this, you’ll practice with fake or play money without risking your investment.
In this guide, we’ll take you through the ActivTrades Trading account and the different brokerage account types to help you kickstart your forex trading.
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Overview of ActivTrades Demo Account
One thing to note about the ActivTrades demo trading account is that it reflects live trading conditions. It means that when Apple’s stock price changes from $130.00 to $131.25, this is followed on the demo trading platform.
Notably, the main purpose of trading using a virtual demo forex account is to prepare you to invest real amounts.
ActivTrades has three main trading platforms and these are;
- ActivTrades ActivTrader
- ActivTrades MetaTrader 4
- ActivTrades MetaTrader 5
You can access the demo accounts of the three platforms by submitting your details in a simple process.
- Enter your legal name
- Provide your telephone number
- Enter an email address and submit
Subsequently, you’ll receive an email with further details. After registration, you’ll get a free demo trading account and $10,000 worth of virtual funds to start trading.
Currently, ActivTrades has a free 30-day demo offer for new traders. Also, you do not need to upload any ID during the trial period. You can start forex trading immediately in a risk-free and live environment.
Key features of the ActivTrades Demo Account
As noted earlier, ActivTrades is the best trading account that offers a free 30-day trial for new traders on the platform. When choosing the best brokerage accounts, there are some things to keep in mind.
Here is a quick rundown of the key features of the ActivTrades demo account;
- Available securities or stock markets
With ActivTrades, you can access multiple forex markets or currency exchanges and over 1000 CFDs. Further, you can also access EFTs, financials, indices, shares, and commodities. First off, you need to check which stock exchanges the forex demo account provides access to.
The sign-up amount
The demo stock account should offer a certain amount of virtual money to enable you to practice. For example, when you can open a demo CFD account, ActivTrades offers you up to $10000 virtual money to help you get started.
Demo accounts have a time limit set by the brokerage firm. Whereas the time is short for novice traders, experienced investors can use the limit to test the platform and new strategies. ActivTrades offers free 30 days for new traders on the platform.
Demo account features
A demo stock account should have all the features present in a real account. The ActivTrades demo margin account offers full functionality. Therefore, you can access markets, stocks, orders, and charts to reflect live trading conditions.
Trading tools and analysis
If you are a long-term trader planning to buy stocks or ETFs for many years, you probably don’t need technical analysis. However, if you plan on trading currencies in the forex market or are a speculative trader, you may have to enter positions and close within a few hours or days.
As a short-term trader, you’ll exclusively rely on the price movements. Hence, a forex demo account must have vital technical analysis tools.
The ActivTrades demo margin account has everything you need to predict prices and make decisions. For instance, there are charts and a wide variety of technical indicators.
Support for automated trading system
Automated trading is gaining popularity in the forex market. However, it’s challenging to determine without first testing whether a certain system will generate profits.
The ActivTrades demo stock trading account allows you to test the automated strategies in a risk-free environment.
ActivTrades Real Trading Accounts
When you finally get to the point where you want to start trading for real money, it’s much easier with an ActivTrades brokerage account.
To open a brokerage account, you’ll need to;
- Upload a copy of your official ID, bank statements, photo, utility bill, or passport for verification. ActivTrades usually check it in a few minutes.
- You’ll need to provide your details, home address, and tax residency.
- ActivTrades will require your trading experience, including the years, number of trades, and lot size for every trade.
- The next step is to disclose your financial information, such as the source of funds, employment status, income, savings, and trading preferences.
- Next, choose the base currency and preferred forex trading platform.
- Deposit by bank/credit card, mobile wallets such as Paypal, Neteller, Skrill, or local bank transfer.
- Switch your portfolio from “virtual trading” to “real trading.”
- And that’s it – you can start forex trading for real money – for free.
The base currencies available on the brokerage account;
ActivTrades doesn’t charge deposit or withdrawal fees when you want to make electronic wallets or bank transfers. However, credit and debit card charges may apply depending on your location.
ActivTrades Account Types
ActivTrades had different forex trading accounts for its retail and institutional traders.
- Individual account for retail traders
- Institutional accounts for corporate entities
- Islamic account with no rollover fee or commissions.
The ActivTrades stock trading accounts let you buy/sell with spreads starting at 0.5 pips. Additionally, you can use mini/micro lots with this brokerage account and access ActivTrader trading platform.
ActivTrades is the best online brokerage for stocks since it has the MetaTrader 4 and MetaTrader 5 platforms.
Other advantages of the forex trading accounts include;
- Balance protection whereby your losses are not more than the deposit.
- Client protection with extra insurance of up to $1,000,000
- Direct execution where you have total control of your trades.
- Up to four currencies
- Round-the-clock support in 14 languages except for weekends.
- Multiple funding and withdrawal platforms.
- A wide variety of smart tools
- Tutorials and expert advice
Whether a beginner or an experienced stock trader, forex demo accounts are a valuable tool for investors of all shapes and sizes. They allow you to trade stocks without risking your capital, and you can try new strategies in a risk-free environment.
If you want to start trading from the comfort of your home using a forex demo account, setting up on the ActivTrades platform takes just a few minutes. Undoubtedly, the ActivTrades is one of the best brokerage accounts for beginners since you will access various international stock exchanges and forex markets. You can use the demo section online or the ActivTrades demo trading app!