SimpleFX Demo Account – Opening Process, Charges, Features, Benefits & moreLast Updated Date: Nov 19, 2022
Find out all details about the SimpleFX Demo Account here.
SimpleFX Demo Account abridges the task of learning trading through practice in live markets with no money risk.
Virtual currency simulates the process of investing in assets as if it was really live to trade.
But while live trading would carry significant financial risk, SimpleFX Virtual Trading does not risk real currency.
Isn’t it a smart way to get to know the trading system and develop skills and confidence?
This free facility goes a long way to train traders. While research materials are available online in plenty, the demo account helps practice in live trading markets with no risk.
The fact that the demo account carries no fees also encourages traders.
SimpleFX Demo Account
Why do traders need the SimpleFX Demo Account? It is a valuable practical lesson in trading after reading research materials.
Many ambitious beginners would be completely lost in the dangerous trading world without ample practice.
Being passionate about trading is fine but what about the many dangers of financial loss? Without some losses, traders will not know what losses feel like.
Learn some important lessons from the demo account.
Never risk more money than you can afford to lose. Always trade calmly, after ample thought and research. Avoid hurrying.
Never be greedy or impatient. Heed the advice of seniors.
Discuss doubts beforehand. A few sessions of the demo account that could stretch into weeks and months should provide a strong beginning.
Climbing the trading ladder has begun. When you get into real live trading with money at stake, you would be adjusted well.
The only difference was that the demo account used virtual money that won’t be won or lost.
Open Demo Account Now! – Zero Commission on Trades
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SimpleFX Demo Account Features
SimpleFX Virtual Trading Platform that is called the demo account is absolutely customer-friendly.
It is a learning platform that replicates the online live markets and takes you through all the training procedures.
You get a chance to study the charts and place trades of buy and sell. You get to work with the entire range of assets over 200 in number.
What are the assets like?
You trade in over 60 currency pairs and 16 crypto pairs on SimpleFX. Indices include NYSE, NIKKEI, and DAX. Equities include Google and Facebook. Commodities include gas, oil, and gold.
How does the demo account help?
Most beginners feel like a fish out of water in trading. The demo account has the practically important function of showing the way.
Some lessons are self-explanatory but others cannot be learned and understood without hard practice.
Better learn the lessons well in the demo account for a good chance at trading success later on.
SimpleFX Demo Account Charges
|Demo Account Details|
Free. The company does not charge any opening fee, minimum fee, or annual maintenance fee for the demo account.
Not only is the demo account free of charges but it provides virtual currency to practice the trading procedures in a safe environment.
The trading system in the demo account is exactly the same as in the live trading account except for the absence of money risks.
When traders open a live account with the company, a demo account also gets opened. Traders are free to use either of them alternately.
It would be wise to commence with the demo account to gather practice.
How to open SimpleFX Demo Account?
SimpleFX runs diverse trading platforms that cater to a variety of global operating systems. No matter the type or size of the device, it can be used to trade.
The company offers a choice of trading platforms based on the globally reputed MetaTrader 4 software.
In addition to the MetaTrader 4 platform is the company’s own WebTrader platform.
Further are the mobile apps that cater to both the Android and iOS systems that have to be downloaded from the respective play stores, Google and Apple.
The first decision to make is which platform to use in trading.
That will depend upon the system you use, whether desktop or smartphone that uses the android or iOS systems. Accordingly, visit the play store and download the app.
It is free to download and the downloading process happens very quickly.
Now comes the account opening which is a quick and easy process that requires an email confirmation. Other account opening methods are via social media accounts like Facebook.
When the trading account is successfully opened, the demo account also opens automatically and simultaneously.
Traders may use either according to need but first practice with the demo account.
After sufficient practice is gained and confidence is acquired, it would be appropriate to start live trading that involves risks to money.
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Advantages of SimpleFX Virtual Trading Platform
SimpleFX Demo Account is the essential first step to successful trading. Some traders feel a false sense of confidence that could result in blunders and the loss of large sums of money.
The trial-and-error approach to learning trading is risky because of the dangers of losing money, partly or completely.
Rather, the demo account gives you a readymade experimental ground to practice and perfect your trading strategies.
Practice indeed does make perfect as you learn in the demo account.
Psychological preparation for trading is very important and that takes a while.
Extensive research into the preferred trading assets is helped by a vast array of video lessons and smart tutorials from the company.
But nothing can compare with the real experience in simulated conditions that you get from the demo account.
Make the best use of the free demo account learning opportunity with virtual currency that cannot be withdrawn or transferred. Give it dedicated practice.
SimpleFX Demo Account – Conclusion
Trading practice in the SimpleFX Demo Account is absolutely essential to get mentally prepared to tackle the challenges of real live trading with the risk of money losses.
Benefit to beginners and professionals alike, the demo account realistically introduces traders to the world of SimpleFX trading that has many advanced features.
While the software is highly developed, the fees and charges are very low which means that traders have greater access to profits.
Avoid taking shortcuts and plunging directly into live trading without the demo account practice.
Play the game safely and calmly with researched approaches for more safety in the risky trading game.
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SimpleFX Virtual Trading Account – FAQs
Here is the list of FAQs related to the SimpleFX demo account:
Does SimpleFX provide Demo a/c?
Yes. SimpleFX Demo Account is important because it provides simulated live trading experiences in a no-risk environment.
Trading strategies and procedures are practiced as if for real but with virtual money and so there is no fear of losing money.
After sufficient practice in the mock account, traders gain the confidence for real live trading where money is at risk.
How to Setup a SimpleFX Demo Account?
Setting up a live trading account requires email confirmation or social media connections like Facebook.
When you open the trading account, a free Demo account with virtual money automatically opens.
The great difference is that the trading account uses real money while the demo account uses virtual money. You can alternate between the 2 accounts.
Is SimpleFX Virtual Trading Platform Free?
Yes. SimpleFX Virtual Trading Demo account does not charge any fees.
The Demo account credits $10000 virtual currency in your account automatically.
The live trading account does not charge any opening fees either and the minimum deposit is $1. There are no hidden charges and no-fee payment of any kind for the Demo account.
What are the Fees of SimpleFX Demo Account?
Nil. SimpleFX Demo Account and a few other services of this company are quite affordable. Trading does not charge commissions.
Deposits and withdrawals charge no fees or very minor charges. Trading accounts have no minimum deposits.
Traders pay only for spreads and swaps. Spreads are tight with a minimum of 0.01 pips. The leverage maximum is 1:500.
Is AMC levied on SimpleFX Virtual Trading Platform?
No. the SimpleFX Virtual Trading account does not charge any fee at all.
The company encourages traders with a free demo account with virtual currency for practice purposes.
Both for beginners and professional traders, some sessions of practice trading will help to get acquainted with the SimpleFX system. Since trading is full of risks, safe practice will help immensely.
Is the SimpleFX Demo Account best?
Yes. SimpleFX Demo Account replicates real trading conditions in live markets with virtual currency.
All the research tools are available and it is a good experience to learn and practice trading strategies.
For beginners, it is a must. It takes a while to get to know the system and the markets and gather the skills and abilities to trade successfully.
What Documents are required for a SimpleFX Demo Account?
Nil. No documents are required to open a Demo account. Email address confirmation through a link will suffice to open a live trading account.
Social media accounts like Facebook are also accepted. Along with a live trading account opening, a demo account is automatically opened. Traders can use each of them.
Is PAN required for Opening a SimpleFX Demo Account?
PAN is not required to open a Demo account. No other document is required. A confirmed email address or social media connection will do.
SimpleFX follows a quick and easy account opening process and the charges are minimal for most services.
Trading does not require commission payments.
Spreads and swaps are charged. Deposits and withdrawals are also mostly free.
Does SimpleFX Charge Demo Account Opening Fee?
No. The company does not impose any charge for opening a Demo account which is opened automatically along with the live trading account.
The trading account has a minimum deposit of $1. No fee is associated with the demo account that is meant for practice trading without risks in real market conditions.
Demo account trading uses the same system in a live market.
How much Virtual Money do you get in a SimpleFX Demo Account?
$10000. Virtual money helps to practice trading procedures and beginners especially can gain confidence. Professionals too need such demo sessions to adjust to the system with SimpleFX.
The virtual money is available to trade in the live market.
You can withdraw or transfer the virtual money. It is not a real currency.
Open Demo Account Now! – Zero Commission on Trades
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