AvaTrade demo account: How to use it

So when we look into Forex Trading specifically, we can see that AvaTrade is one of those brokers that offer different accounts. It is one of those trading platforms which can provide a suitable account type for the trader to begin all types of trading. To get more news about AvaTrade Demo Account, you can visit wikifx.com official website.

So for anyone who wants to begin with Forex trading, we can say that there is always a need for a reliable broker, and AvaTrade can be just the choice. However, as mentioned before, a beginner trader needs to pay attention to various elements before taking futuristic steps in trading.
The best way to understand one’s ability and then open doors for improvement comes from a demo account. Therefore, Ava Trade is among those brokers who understand it and promotes it. However, we must also understand what a demo account means and how it helps before even pondering to begin Forex Trading.

When we come to the AvaTrade demo account features, we can see that it offers various lucrative features, unlike other brokers. First, it offers access to the full range of financial instruments. A trader can select from over 1250 assets to trade, which comes with low spreads, technical indicators, etc.

With an AvaTrade demo account, traders get access to an overview of the fees charged, which is usually excluded in the case of demo accounts. It also shows numerous other components along with it.

The demo account in AvaTrade provides a greater amount of virtual funds as well. It offers $10,000 or an equivalent amount in other currency as the virtual amount. Moreover, it is viewable to traders irrespective of the navigation. Now, AvaTrade has over ten different asset classes and various charts when it comes to the assets. The comprehensive charting features can help the trader reap maximum benefits from the demo account.
Expiry
It is often seen with other brokers that they offer a very short duration for a demo account. Their features might be attractive, but the validity is mostly kept at around ten days which is not even extendable in certain cases. So a trader is forced to switch to a real account. But AvaTrade offers a 21-day standard duration which traders can further extend after the said period.

Reset
Suppose the demo account has expired after 21 days of registration, and the trader wants to reset the demo account. In that case, AvaTrade offers a simple process in which a trader just has to add another demo trading account.
How to open a demo account in AvaTrade?
Opening a demo account marks the beginning of a trader’s journey. Therefore, it should be fair and simple, which AvaTrade understands. Hence, it offers a new trader to join through an effortless process involving four easy steps.
To sign up for a demo account with AvaTrade involves a few simple steps. It begins with navigating to the AvaTrade website and selecting the Demo Account option.
Next, the trader needs to fill in the credentials. After clicking on the demo account option, the user is directed to the registration page. So, they can insert their credentials with Google or Facebook, whichever goes according to their wish.
Now, by clicking on the proceed button, the user can end the process of setting up a demo account.
Finally, AvaTrade shall send a confirmation message to the user’s email for verification. It will also contain the login details, with which the trader can start using their demo account.
What does a demo account signify?
It is a human tendency to test anything before consuming it. Therefore, we always look for a demo product that defines the actual one before buying anything. We expect it to briefly clarify the product we will invest in. So it is not surprising to see demo accounts offered while engaging in an important activity such as trading in assets. Nowadays, it is more of a need rather than a choice for the brokers to offer them. A broker cannot expect more users without offering a demo account first.

A demo account signifies a similar meaning to what we understand from the word demo. It is nothing but a mockup version of the real trading account. Like we use the term demo in various aspects of our lives, in trading also, it is applicable similarly. The demo account provides a demonstration of what happens in reality.

So, we can say that it is an imitation account that the trading brokers like AvaTrade offer to their customers. The traders are given fake money in a demo account, which they can use as funds to experiment with the trading process. So, we can say that it helps as a practice account with money that is not real. It gives the trader a definite idea of the requirements needed to set up a real account.

Moreover, most brokers provide their entire features in a demo account to give the traders a hands-on experience. It is needless to say various trading platforms offer a demo account. They offer it irrespective of the trader’s assets in their platform. We can see the availability of a demo account while trading in various assets such as stocks, commodities, options, and even Forex.

When we focus particularly on Forex, we must know that the global trading volumes are increasing continuously. The volatility in global economics is the major cause of it. So, we can see more active participation from Forex traders, a market of more than $5 trillion every day. It is always advisable to start with a demo account to deal in such a market. A new trader can understand the dynamics better in a demo account, which can help win more trades in the future.