LiteForex Demo Account – Opening Process, Charges, Features, Benefits & moreLast Updated Date: Apr 29, 2022
Check out all detailed related to LiteForex Demo Account here.
When Aleksey Smirnov established the online broker LiteForex in 2008, he hardly knew what a great success story it would become.
Offering the leading MT4 and MT5 trading platforms, the leading Forex and CFD broker assets include indices, shares, commodities and cryptocurrencies.
A major plus point is the money risk-free training ground under real market conditions offered in the LiteForex Virtual Trading Account.
Traders rehearse all the buy and sell activities, the research, and the use of expert advisers in the demo account as if they were really trading.
It is a taste and experience of live trading without the risk of losing money, an excellent training ground for beginners and professional traders alike.
LiteForex Demo Account
Why not start on the sweet trading dream with the LiteForex Virtual Trading account?
According to company requirements, aspiring traders need to possess basic business experience.
Even if this basic experience does not relate to trading, they will pick up the fundamentals from the demo account.
Working with screens has become an essential part of daily life nowadays. Trading also makes use of screens and it is easier with the bigger screens.
Consider the advantages of trading from anywhere at any time with the smartphone’s internet-connected screen.
What about the risks of losing money? Many traders lose substantial sums of money and sometimes the entire investment.
The answer lies partly in the demo account that shows the way to safe trading practices. Avoid haste. Trading needs patience and researched options.
Further, never involve emotions in trading. Do not risk more money than you can afford to lose. Take up the demo account with a positive approach.
Open Demo Account Now! – Zero Commission on Trades
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LiteForex Demo Account Features
There are serious risks of loosing money involved in Forex Trading. The LiteForex Demo Account has 0% risk.
The demo account includes all the features you have in the live trading account minus the risks of losing money.
You should know a few procedures like the basic buy and sell steps, the currencies, and assets of choice.
The demo account is a valuable training ground and for some traders, it is learning by trial and error.
The errors made in the demo account will not result in money loss. Without such a virtual experience, it would be very risky indeed to participate in live trading where ample money risks are involved.
The demo account has no restrictions on time. You can continue with the virtual trading as long as you need. Once you gain confidence, you can start Live trading.
- Opportunity to work with every trading asset
- Liquidity providers supply real quotes
- Engage in Scalping and news trading
- Market execution without requotes
- You cannot Stop Loss and Limit levels
LiteForex Demo Account Charges
|Demo Account Details|
LiteForex offers 2 types of trading accounts, ECN account, and Classic account. The initial deposit that is compulsory is $50 in both these accounts.
While opening the account, this fee has to be paid as an initial deposit.
While companies usually charge fees for every service, however small, the demo account does not charge any fees.
LiteForex Virtual Trading Platform does not use real money investments in trading and so the risk of losing money does not exist. Information about the virtual money amount is not available.
Not only is the demo account completely free but unlimited virtual transactions are allowed to learn the trading procedures and strategies thoroughly.
The more the training experience gathered, the better would be the trading prowess when real-live trading is attempted.
Get ample experience with virtual trading in the demo account and learn the systems well so that live trading leads to high profits without errors.
How to open LiteForex Demo Account?
You need to open an account with the company, beginning with the filling up of a form. The form will require certain personal details but be very careful.
The details you enter like name spellings and dates should tally with the government-issued legal documents that are offered as proof.
- After clicking on the “Start an account” button, a pop-up form appears. Fill up the form and submit it.
- Expect a call back from the company representatives as the next step of the process.
- Supporting documents for verification mainly fall into 2 categories, identity, and residence. A passport or driving license confirms the identity with a clear picture along with the name.
- A bank statement or credit card statement with the name and address should suffice to confirm the address. Alternatively, recent utility bills of water and electricity with the name and address are acceptable.
- Other government-issued legal documents are also submitted in support of identity and address. Make sure that they are authentic and valid.
- Once the verification is completed, mainly relating to documents supporting identity and address, the company sends login details to access your account.
- The minimum deposit of $50 has to be paid.
- Now you are ready to join the demo account by clicking the button.
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Advantages of LiteForex Virtual Trading Platform
Consider the LiteForex Demo Account absolutely essential as a safe introduction to the volatile trading universe.
Start with LiteForex Virtual Trading to get adjusted to the wonderful infrastructure that brought global renown.
Traders with experience too need to start with the demo account to understand the Liteforex system well.
In the demo account which is absolutely free with no transaction limits, you are participating 100% in the live trading process with 0% money risks. Go through the trial and error process that helps in the learning.
Like in every field and profession nowadays, trading has much to do with digital technology.
That is a positive advantage that makes it possible to trade online even during journeys and vacations through smartphones.
Get to know a few trading secrets through practical experience rather than by reading books or research papers.
Getting down to real trading with money risks should no longer be so daunting after the demo account practice.
LiteForex Demo Account – Conclusion
LiteForex Virtual Trading Platform serves as an excellent no-risk introduction to the sometimes dangerous world of trading.
Getting used to the excessive use of digital technology requires mental preparation and ample practice so that mistakes can be avoided later under real trading conditions.
How is the LiteForex Demo Account different from the trading account? Everything is exactly the same regarding assets and the buy and sell procedures except the absence of money risks.
Make all the mistakes you want in the experimental phase but no money is lost because it is a game played with virtual currency.
Make a decision in favor of account opening with Liteforex, leading to the demo account and real-live trading later.
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LiteForex Virtual Trading Account – FAQs
Here is the list of FAQs related to the LiteForex Virtual Trading account:
Does LiteForex provide Demo a/c?
Yes. LiteForex Demo Account plays an important role as a training ground. Success in trading cannot be achieved overnight.
Researched analysis of markets with the help of expert advisers may succeed in finding the right buy and sell trades without loss.
Getting used to trading online and practicing the right moves in the demo account go a long way towards success.
How to Set up a LiteForex Demo Account?
LiteForex Demo Account comes as a free bonus after opening a Libertex account.
Choosing an ECN or Classic account requires an initial deposit of $50, filling up a form with personal particulars, and submitting documents.
The documents in support of identity and address are verified by the company.
They send the login details to access your account after that and you can reach the demo account.
Is Liteforex Virtual Trading Platform Free?
LiteForex Virtual Trading Platform has no charges associated with its use. You use virtual money and no money loss fears exist.
You are practicing all the steps of a real live account without the money risks. There are no transaction limits and you can train as much as you want.
What are the Fees of the LiteForex Demo Account?
LiteForex Demo Account requires no payment at all. It is free to join but you have to pay the company trading account a minimum deposit of $50 in order to gain access to the demo account. You need to fill a form with personal details and submit supporting documents for verification too.
Is AMC levied on LiteForex Virtual Trading Platform?
LiteForex Virtual Trading Platform requires no payment of annual maintenance fees or any other kind of fees.
The purpose of the demo account is to show the way towards trading and the steps involved.
It replicates real trading conditions in live markets and helps develop the confidence to face the real test of trading in live situations where money is at risk.
Is LiteForex Demo Account the best?
The demo account is truly very useful to learn the trading system well in advance and avoid risky trading with money later.
Learning from your own mistakes will help to make you a better and safer trader.
You learn to use all the researched study materials, charts, and indicators to find the best trading opportunities with the least risk.
What Documents are required for a LiteForex Demo Account?
The identity and address supporting government-issued documents are actually required for opening the Liteforex account.
The demo account does not require any documents but is a part of the company account for free with the intention of trading practice.
After the form is filled with personal details and the 2 documents verified, you can use the demo account.
Is PAN required for Opening a LiteForex Account?
Though PAN is an important government-issued legal document for financial purposes, it is not strictly required.
Many other documents prove identities like the passport, driving license, Voter ID, and Aadhar.
You can submit a PAN or one of the other documents but it must be a government-issued legal document.
Does LiteForex Charge Demo Account Opening Fee?
LiteForex does not charge any fee for using the demo account and there are no AMCs.
The demo account is free to join after gaining access to the Liteforex Company trading account.
Starting a trading account has some formalities like form filling, submission of supporting documents, and the payment of the minimum initial deposit.
How much Virtual Money do you get in a LiteForex Demo Account?
You practice trading in the demo account with virtual money but the amount of virtual money you get is not mentioned.
Since you trade with virtual money, there is no danger of financial losses.
You can learn from your own experience and understand the trading process better.
Learn the strategies and try to improve trading skills.
Open Demo Account Now! – Zero Commission on Trades
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