Top Demo Accounts- Day Trading Simulator

There are many ways to invest in the financial markets, but more and more traders are turning to day trading. This investment strategy is an active trading technique that allows you to take advantage of market movements on the trading day. In this guide, you will learn what day trading is and how to get started for beginners. We will discuss over-the-top demo accounts for beginners.

Top Demo Accounts- Our List

The best demo trading accounts are free, trustworthy, and accessible even for beginners. In our opinion, eToro takes first place in the ranking as it is the product that best meets these criteria. Below is the full list.

  • eToro
  • Libertex
  • FXCM
  • XTB
  • Capital.com
  • XM
  • Admiral Market

eToro

eToro image

One of the most famous names of online brokers is the online broker eToro. And if so, it’s because the strengths of this broker are so many. When it comes to safety, which is the most important criterion to consider when choosing a broker, eToro exhibits white claws on several levels. Above all, it is a broker with a long history since its establishment in 2006.

In terms of trading platforms, eToro has great strengths as it is a very ergonomic and user-friendly platform. Therefore, it is highly appreciated for its ease of use for beginners. But he also doesn’t forget about advanced traders who can find everything they need, especially in terms of technical analysis tools.

An eToro broker trading account gives you access to many markets. You can buy shares, ETFs or cryptocurrencies, trade Forex, commodities and indices, and many other products. Therefore, it is a multi-market trading account.

However, the most notable benefit of an eToro trading account is the broker’s social trading platform. As an eToro customer, you can see the performance of other traders on the platform. You will be able to identify the best so you can automatically copy their location to your trading account.

Liberetex

Libertex day trading account

Like eToro, Libertex is a leading trading account provider with many undeniable advantages. The first thing to keep in mind in terms of safety and reliability is that Libertex is one of the oldest brokers on the market since it was founded in 1997. Like all reputable brokers, Libertex is regulated in the European Union. Finally, the client’s opinion, an important point when choosing a broker, leaves no doubt as to what could not be more positive than this. Check it out for yourself with a simple Google search.

When it comes to trading platforms, Libertex offers a platform that works directly from any internet browser without the need for any downloads. It is very easy and fast to use with a nice and ergonomic user interface. However, it is also possible to choose the MT4 platform, which is essential for those who want to develop an automated trading strategy.

Libertex also has the advantage that no spreads apply. Unlike most brokers, there is no difference in the buy or sell price of a currency pair at Libertex. Instead, the broker charges a small fee for each trade.

FXCM

FXCM Day trading

FXCM was founded in 1999 and is considered one of the pioneers of online forex. Security is also ensured by the fact that we are a UK FCA regulated intermediary and are authorized to provide services in Europe and France. We will also pay attention to the Bank de France registration, a quality that few brokers can boast of. FXCM is one of the few brokers you can physically meet and has an office in the heart of Paris.

FXCM Broker has developed a platform called FXCM Trading Station, a very powerful and easy-to-use trading tool. The platform is also available in desktop and mobile versions. However, it is interesting to note that the broker offers several other platforms, including the famous MetaTrader 4 and platforms you may not be familiar with such as NinjaTrader, ZuluTrade, or TradingView.

An FXCM trading account gives you access to multiple platforms, which is a huge plus. FXCM is also a broker recognized for its outstanding availability and expertise of advisors and analysts. You can also meet them for discovery and training sessions. FXCM offers an unlimited demo trading account, so you can practice on the platform as many times as you like before switching to real money trading.

XTB

XTB day trading account

XTB Broker was founded in Poland but has since opened branches in 13 countries, including France, and has succeeded across Europe, especially thanks to its many partnerships with the sports world.

In terms of safety and reliability, the XTB’s most reassuring legs are undoubtedly the older ones. XTB is also a regulated broker. It is also regulated twice by the FCA in the UK, the KNF in Poland, and the ACP in France. The XTB platform, dubbed xStation 5, is particularly well-designed and comes with many useful features for beginners and experts alike. It is also available as a mobile version under the name xStation Mobile.

XTB’s trading account is a demo trading account that can be tested risk-free. A demo trading account that is credited in virtual currency but exposed to the real world, you can learn how to use the XTB platform and, above all, make sure this trading account is right for you.

Capital.com

Capital.com day trading

Capital.com is also a reputable financial broker that offers many strong bridged trading accounts. It is a regulated and even doubly regulated broker because it reports to two different organizations. These are CySec from Cyprus and FCA from the UK. In addition, the broker has been able to attract more than 2.3 million clients from 53 countries with their trading accounts in just a few years. It also testifies to its reliability.

The trading platform provided by Capital.com is developed in-house and is very easy to use. It also comes with a mobile trading app that allows you to trade markets from anywhere with your trading account.

The Capital.com platform includes not only trading signals, but also artificial intelligence tools that can identify the pros and cons of your trading habits and advise you based on the results. You can test Capital.com with a demo trading account. You can take the time to explore all the trading tools available, apply your technical analysis knowledge, and learn how to place orders on your Capital.com trading account without the risk of loss.

XM

XM day trading

XM is one of the middle-aged brokers and was founded in 2009. Nevertheless, XM is a leading broker with over 3.5 million clients worldwide and a success that confirms its success. ”high level of service quality.

Another factor that ensures security for traders using XM trading accounts is the regulations of Cysec in Cyprus, ACIS in Australia, IFSC in Belize, and DFSA in Dubai. From a trading platform point of view, the M platform is the standard option for this broker’s trading account. However, it is also possible to choose the latest version, MetaTrader 5.

As with all brokers in the market, you can test your XM trading account with a demo trading account without risk. You can trade with no risk of loss. You can become familiar with the XM platform and develop effective trading strategies.

Admiral Market

Admiral Market

Admiral Markets is a trading account provider that gives its clients everything they need to be successful. This includes daily analytics, video training, or real-time analytics of your YouTube life. The broker has also been established in 2001 for over 20 years.

It is also a highly regulated broker for Cysec in Cyprus and FCA in the UK. Admiral Markets has also been voted the Best Forex Broker with additional quality assurance by the 2020 Global Banking and Finance Review.

The platforms offered by Admiral Markets are MT4 and MT5. However, since Admiral Markets did not create their platform, they developed an improved version of MT4, MetaTrader Supreme, which provides additional tools.

One of the main advantages of an Admiral Markets trading account is the fact that the broker offers its holders a complete trading training program. An enhanced version of MT4 developed by Admiral Markets is also a highlight of this trading account. Finally, Admiral Markets also offers an unlimited demo trading account that you can use to make sure that this online broker’s trading account matches what you expect.

What is day trading?

Day Trading image

Day trading, as the name suggests, is a strategy to buy and sell financial assets on the same day. Therefore, intraday traders typically use small price movements to speculate about the development of an asset from minutes to hours.

Day trading is one of the trading techniques that need more attention and availability. You have to be in front of their screen to take advantage of all the trading opportunities that arise during the trading day.

Intraday trading method, intraday trading usually relies on leveraged and margin trading products to amplify market movements. CFDs, or contracts for difference, are one of the most popular financial derivatives for investors with short-term strategies.

A CFD acts like a financial contract in which you and your broker trade the value of an asset between the opening and closing price of a position. Therefore, you do not own the underlying assets on which CFDs are traded. Guess about price movements. Also, online CFD brokers are generally good platforms. They offer many markets, powerful trading platforms, and reasonable trading fees. You still need to use the correct broker.

In which markets can Intra-day trading be conducted?

Intraday trading is a strategy that takes advantage of price movements during a trading session rather than holding an open position overnight. So you can trade any market available through the broker. The most popular are:

  • Forex
  • Indices
  • Raw material
  • Cryptocurrency

How to initiate Day Trading- Complete Tutorial

If you are an absolute beginner then the question arises that how and where to start day trading? The following steps describe the process of starting same-day trading in a few simple steps using the recommended eToro broker.

Step 1: Choose an intraday trading broker

Since intraday trading requires some degree of responsiveness, brokers must be able to provide fast execution times. Depending on your daily trading strategy, the tools and indicators you need should also be available on your trading platform. Remember that day traders have many positions per day. Therefore, brokerage fees such as spread, which is the difference between the bid and ask prices, should be as low as possible.

Step 2: Create an account

Once you have chosen a broker, proceed to the registration and KYC process. The steps below will show you how to start trading the same day with the recommended broker eToro, but the process is similar to most brokers.

eToro

Using this registration form, it only takes a few minutes to register with eToro. Click “Create Account” to access the eToro platform. Verify your eToro account by providing the necessary documents. Once you are on the eToro platform, you need to click on “Full Profile”. In this way, you can complete your profile and verify your account to activate all the features of the broker.

Step 3: Deposit funds to your trading account

Click the “Deposit” button to start trading. This allows you to fund your eToro account using your preferred method. eToro charges no deposit fees and accepts bank transfers, debit cards, and PayPal.

Step 4: Familiarize yourself with the trading platform and its features

The eToro Marketplace has many features. As the world’s leading social media and copy trading platform, eToro allows you to share and access a wealth of information on a wide variety of financial assets. There is also the option to directly copy the portfolios of other successful traders.

Step 5: Use eToro ProCharts

If you want to take advantage of advanced charting and trading tools, you can use eToro’s Pro Chart option. This gives you access to many trading indicators and drawing tools not available on the underlying platform.

Step 6: Place a variety of orders to benefit from your daily trading strategy.

Same-day trading involves multiple trades on the same day, so you can open a position when a trading signal appears. Then click “Portfolio” to check the job status. Click “Close” to close the position.

How much capital do you start trading with per day?

The first thing to remember is that you should only exchange money you are willing to lose and not borrow money to invest.

With a large number of brokers available in the market, there are options for every budget. For example, you can start trading on the same day with a sum of €100. For many traders, it makes sense to start with amounts of $2,000 or more. The most important thing in intra-day trading is that the cost of the transaction does not exceed the profit.

Is day trading right for me?

Intra-day trading is ideal for short-term traders who do not want to hold their trading positions overnight to avoid overnight fees. It’s also an interesting technique to be completely disconnected from trading after a day’s work.

As trades are no longer open overnight, the risk stress that can occur while the operator is asleep is also avoided. Indeed, portfolios may experience large price movements due to events in other parts of the world.

Key features of the best stock market simulator

The main stock market simulators chosen by us have several common characteristics.

  • They are very similar to the current market-When trading on paper, you want a true stock trading experience, so your Sims should feel real. Because buying and selling stocks in real-time is important, accessing more advanced stocks and order types is important.
  • There are many jobs available- Buying and selling stocks is fun, but you may want to try a more conservative strategy, such as buying and selling ETFs and mutual funds.

How to choose the best day trading simulator?

If you are still looking for inspiration, here are some key indicators to consider when choosing the best day trading simulator.

Demo Fund Amount

All of the best day trading simulator providers discussed today offer fixed amount bills when using a demo account. For example, with eToro, you get a balance of 100,000 USD, whereas on Trading 212 it is 50,000 USD. It is important to note that you should only trade bets that match your actual budget.

Time limit

The best day trading simulator brokers like eToro allow you to use a demo account for as long as you want. However, some providers in this area only allow you to use the demo platform for a limited number of days. This is the case for Forex.com, where you only have access to the daily trading simulator for up to 30 days. This is problematic as you may want to return to the demo account later to test a new trading strategy or system.

Demo account features

Perhaps the most important metric to consider when looking for the best day trading simulator is whether you have access to full functionality. For example, if you use the eToro demo account, everything reflects real market conditions. This means you have access to the same financial markets, asset price movements, and liquidity levels.

Transferable assets

Of course, you should choose a daily trading simulator that suits your preferred market. Whether it be stocks, indices, currencies, commodities, or futures, make sure the broker is backing the asset of your choice.

Analysis and trading tools

To become a consistently profitable day trader, you need access to research and analysis tools. This allows you to make smart and logical business decisions, unlike third-party advice. Therefore, you should choose a daily trading simulator with technical indicators and market psychology tools. The latter should include the latest financial news to know and trade well. Another tool worth mentioning is eToro’s copy trading feature.

Conclusion

A daily trading strategy is suitable if you want to close all positions at the end of the day to take advantage of the price movements of various financial assets within a single trading session. As a very short-term trading technique, intraday trading is usually done through CFD brokers who offer a wide range of assets, robust platforms, leverage, and analytical tools to suit your strategy.

To be successful as an intraday trader, it is important to control your risk well, always follow your trading plan, constantly improve your market knowledge and use a good broker like eToro to quickly and easily seize trading opportunities. eToro is the best day trading simulator as per our study.

Frequently Asked Questions

Is intraday trading risky?

As with any type of investment, intraday trading carries the risk of capital loss. Intraday trading is primarily speculative through leveraged instruments as it takes advantage of relatively fast price movements. Margin trading and leverage can add to price fluctuations and quickly add to both gains and losses. Because of this, day trading is not a trading style for everyone.

How much return can be expected with day trading?

It all depends on your starting capital, how much risk you take per trade, and how serious your business plan is. You also need to consider the markets you trade in (volatility and liquidity) and the amount of time you spend training your trades. The potential income you can earn from day trading will depend on your personality and the strategy you use.

What tools do I need to start trading on the same day?

Remember, you need the right equipment and powerful software to quickly identify and act on important financial information.

How do you practice stock trading?

The stock trading simulator allows you to practice trading with virtual money and test your strategy.

How do you practice with virtual money?

Virtual money means that you are building and testing your trading strategy using virtual instruments.