Justmarkets DemoAccount Opening: How to Commence Your Trading Journey
Undoubtedly, every newbie trader has to take some knocks early in his career to get to the top later. Thus, registering a demo account serves as a huge benefit for beginners who have made up their minds to conquer the versatile Forex financial market. With a virtual demo account, you can give it a try, learn from your mistakes, and test financial strategies effortlessly.
Registering on the JustMarkets trading platform, a marketeer can begin his hassle-free journey by activating a demo account. In this case, it is essential to keep in mind that everything should be well-balanced when it comes to the trading world. After all, the positive effect of practical training can suddenly change polarity, and the beginner will easily lose such a necessary and significant sense of reality, which straight off leads to making mistakes, miscalculations, loss of self-control, and valuable cash.
Forex Demo Account: What’s the Catch
First of all, the demo account should be called an indispensable tool, equally in demand by both professionals and newcomers. Overall, it is where the familiarity with currency operations and contracts should begin. No matter how inexperienced you are, opening an account doesn’t require a lot of effort or investment. All you need is just fill in the fields during registration, and you will receive a complete natural-looking trading account free of charge. It is identical to the real account with only a single difference. Usually, it does not need to be replenished with real money and, as a result, allows you to save finances in the case of an unfavorable trading result.
In the process of creating a JM demo account, you can get familiarized with the behavior of the currency market and its features, use generally recognized strategies, or build your trading methods, having previously checked them in practice.
Another important perk of a demo training account is a high-capacity opportunity to give an adequate assessment of the actions of the chosen broker before accepting him for permanent cooperation. And let’s keep in mind that for beginners, the demo account becomes the first “arena” for concluding deals, using indicators, trend lines, and other helpers. Moreover, this is where the awareness of marketing principles and the development of the most effective strategies take place.
How to open a demo account on JustMarkets?
Potentially, users of the JustMarkets trading platform do not experience any difficulties with registering a training account for the first time. As a rule, a simplified procedure takes only a few minutes and does not require special knowledge and preparation from the broker. To begin with, you should go to the company’s website. Next, in the “Open an account” section, you will be prompted to fill out a form to register a demo account. The login and password assigned to the account can be found in the message sent to the phone or e-mail address.
Successful completion of the above actions will allow you to launch a demo account and start trading on the spot. You will immediately be offered current quotes and news streams, which will continue to be periodically updated. No extra cash or deposit is required to commence your trading journey.
JustMarkets platform for creating a demo forex account is well-known for its flexibility and ease. As a beginner trader, you do not need to limit yourself to the EUR/USD currency pair which is considered the most widespread one.
A Demo Account vs a Real Account: Contrast or Deviation?
Apparently, this question can be answered as follows: there are no differences between these types of accounts. The truth is their functionality is completely identical since work is carried out through the same trading platform. In addition, the tools for technical analysis, construction of trend lines, and graphic models remain the same. Besides, trading strategies in a real and demo account coincide as well.
The difference is only upon account financing. For instance, you replenish the balance of the real account yourself, and on the virtual one, money is credited to your account on your behalf. It should be mentioned that it is impossible to withdraw virtual funds, even if you managed to earn a certain amount of them on the virtual exchange market.
Despite all their similarities, the demo account and the real account still have one small, but very important difference. This is the psychological perception of the process of making transactions. It means that a player who disposes of his own money and savings from the very beginning experiences strong emotional stress, nervousness, fear, strong emotions, and stress. Needless to say, even experienced traders can lose their temper while losing their valuable cash. Therefore, you should not delay the transition to trading on a real account, because only here you will be able to prepare psychologically for all kinds of unpredictable situations within the Forex market.
