Introduction
If you are looking for a reliable Forex broker, IC Markets might have caught your attention. The Australian-based company has been operating since 2007 and has gained a reputation as a trusted and transparent broker. One of the features that make IC Markets stand out is its demo account. In this article, we will provide you with a comprehensive guide on IC Markets demo account in 2023.
What is a demo account?
Before we delve into the details of IC Markets demo account, let us first define what a demo account is. A demo account is a type of trading account that allows you to trade with virtual money. It is an excellent tool for beginners who want to practice trading without risking their real money. Demo accounts also allow experienced traders to test their strategies and get familiar with the trading platform.
Features of IC Markets demo account
IC Markets demo account has several features that make it an excellent tool for both beginners and experienced traders. Here are some of the features:
Unlimited access
IC Markets demo account provides you with unlimited access to the trading platform. You can practice trading as long as you want without any time restrictions.
Real-time market conditions
IC Markets demo account provides you with real-time market conditions. You can trade with the same conditions as the live account, including spreads, order execution, and slippage.
No deposit required
IC Markets demo account does not require any deposit. You can start practicing trading as soon as you sign up for a demo account.
Virtual funds
IC Markets demo account provides you with virtual funds that you can use to practice trading. The virtual funds are not real money, and you cannot withdraw them.
How to open a demo account with IC Markets
Opening a demo account with IC Markets is a straightforward process. Here are the steps:
Step 1: Go to the IC Markets website
The first step is to go to the IC Markets website. You can do this by typing www.icmarkets.com in your browser.
Step 2: Click on ‘Open Account’
Once you are on the IC Markets website, click on ‘Open Account’ located on the top right corner of the page.
Step 3: Choose ‘Demo Account’
On the account opening page, choose ‘Demo Account’ as the account type.
Step 4: Fill in the form
Fill in the form with your details, including your name, email address, and phone number. You will also need to choose a password.
Step 5: Verify your email address
After filling in the form, IC Markets will send you an email with a verification link. Click on the link to verify your email address.
Step 6: Start trading
Once you have verified your email address, you can log in to your demo account and start trading.
Tips for using IC Markets demo account
Here are some tips for using IC Markets demo account:
1. Treat it like a real account
Treat your demo account like a real account. This means following your trading plan, setting stop-loss orders, and being disciplined.
2. Practice different strategies
Use your demo account to practice different trading strategies. This will help you identify which strategies work best for you.
3. Keep a trading journal
Keep a trading journal to track your progress and identify areas for improvement.
4. Be patient
Be patient and do not rush into trading with real money. Take your time to practice and develop your skills.
Conclusion
IC Markets demo account is an excellent tool for both beginners and experienced traders. It provides you with unlimited access to the trading platform, real-time market conditions, and virtual funds. Opening a demo account with IC Markets is a straightforward process, and you can start practicing trading as soon as you sign up. Remember to treat your demo account like a real account, practice different strategies, keep a trading journal, and be patient.