What is the first thing you will look at an online trading platform? It might be the returns or the deposit. I would recommend nothing of these as the first criterion for deciding on the trading robot for your perfect launch into the trading market. That is the facility of trying a demo account before actually starting the trading process. And by saying a demo account, it means that it should be a completely free account. Why should you spend money on testing a trial run which might lead you to become a real customer? Some platforms do claim that these accounts are completely free, but even you might have come across a review that warns about registration as a compulsory before taking the demo run. That might rob some money out of your account n the extreme cases.
Listing out the real advantages of using a demo account
Yes, to start with the basic purpose, all the trading software offer a free demo account to showcase how efficient their robot is. You should also take this as the same opportunity to analyze how efficient the robot is, also suitable it is for you to take the signals at the right time and take the right decisions.
There are so many indicators, and unless you have some kind of idea of what these indicators are talking about, you cannot decide on which one will give you the best result. For some, it may be a test and discovery process, which obviously you would not want to be a real trading business. So, the ideal way is to try your combination of indicators and how well you can match that with your options on a free demo account.
The assets are numerous, so are the classes and the commodities. Which one is your pick? And, what about your strategy? You cannot experiment with all these directly in the live market. Coming to terms with all these trading factors, their performance and how well you can bank on them, all that is possible through a demo account.
Imagine yourself participating in a high profile racing competition for the first time. The crowd, the electrifying atmosphere, the expectation, the deciding courses, the result and finally, the risk of losing! Which situation would you prefer: a first-time experience or a prior acclimatization in a similar, but practicing scenario? The vote goes for the second and this is exactly what a demo trading account will do for. You know it, practice makes a man perfect.