If a trader wishes to test Exnova or learn how to trade, the Exnova demo account serves the purpose well. The broker excels in offering a demo account to traders with all the live trading account features.
From our view, Exnova is one of the best binary options brokers that offer a free demo account. Here, traders can invest without putting in their own money. It will help traders trading on Exnova understand their trading potential. A demo account is also helpful for traders to know the improvements that they should make in their trading strategies.
We’ll discuss the Exnova demo account tutorial in detail here to help traders start their trading journey on this trading platform.
(Risk warning: Your capital can be at risk)
How can a trader learn to trade using the Exnova demo account?
The Exnova demo account can greatly help traders who are new to trading and wish to explore the trading world. The Exnova demo account is just a replica of the real account. Besides, traders need not fund a demo account with real money.
Basis | Information |
Exnova demo account availability | Yes |
Assets available to trade | 250+ |
Exnova OTC assets available | Yes |
Demo account charges | Free |
Tools, technical indicators, and charts availability | Yes |
As a trader signs up for the Exnova demo account, they can enjoy trading with virtual funds. Using these funds is the perfect way to understand the market without worrying about losses.
(Risk warning: Your capital can be at risk)
Here are some features of the Exnova demo account that traders can enjoy:
- Traders can enjoy trading with the broker using the same features on the live trading account.
- The demo account provides all underlying assets traders can find on the live account.
- Traders can enjoy placing trades without any hassle. Even if traders lose, they don’t lose their real money.
- The demo account contains all the leading technical Exnova indicators, charts, etc., that traders need to analyze the market when trading on Exnova.com.
Let’s explore the demo account meaning in detail.
What does a demo account mean?
Since most things about the demo account are clear, let’s also look at the meaning of a demo account. A demo account is an account a broker makes available for a trader to learn how to trade. The demo account is of great help for a trader to understand how real-world trading works.
The difference is that a trader need not fund his demo account with actual money. Usually, the broker or the trader’s online trading platform takes it upon itself to add funds to the demo account.
For instance, Exnova allows traders to use up to $10,000 in their demo account. The demo account is just a presentation of the real trading account.
(Risk warning: Your capital can be at risk)
Why should a trader opt for a demo account?
A demo account helps a trader to understand real-world trading. However, traders often lose much of their savings/earnings when learning to trade. In addition, some traders are also skeptical about the trading platform’s working. In that case, a demo account is the best fit.
Here are the top demo account benefits that traders experience.
Benefits of a demo account:
- A demo account lets traders learn to place trades and use different orders.
- Traders can also explore the features and tools available to them.
- A demo account is perfect for testing trading strategies and seeing their performance in different market conditions. For instance, you can try Exnova 60-second strategies and various other ones.
- A demo account is ideal for refining their strategies and identifying the best.
- It allows traders to access real-time price data and order execution. So, it allows them to experience real trading conditions.
- Practicing with a demo trading account can help traders gain confidence in their trading skills and decision-making abilities. It can help traders approach real trading with a more confident and prepared mindset.
(Risk warning: Your capital can be at risk)
Exnova demo account – A feature-rich platform to start your trading journey
Exnova is the best for traders who are only embarking on their trading journey. This online trading platform has a feature-rich demo account with accessibility to live market conditions.
The best thing about the Exnova demo account is that traders can use it for free. On top of it, traders have vast funds of almost $10,000 to learn how to trade. Exnova also offers free video support and tutorials for traders. These tutorials help traders understand the working of the demo account.
Traders can use all the virtual funds present in their trading accounts. Once a trader finishes those funds, he can always replenish his demo account by requesting the same.
The Exnova demo account allows traders to use all the trading tools and indicators that help them plan their trading strategies. Traders can plan their Exnova trading strategies by testing their moves on the demo account. They can test various trading strategies and pick the one that is the best fit for them.
Exnova demo account opening process
The broker has a very straightforward demo account opening process. Any trader can signup for the demo account with Exnova. Traders need not pay any charges for opening and operating the demo account the broker offers.
The following steps are crucial to open your Exnova demo account:
#1 Log in to the Exnova website
Traders must first log in to the Exnova website. Here, traders will find all the options to start trading on the website, including the demo account option.
#2 Click on the free demo account option.
Now, traders will see the ‘free demo account’ option on the screen. Click on this option to sign up and use the broker’s free demo account.
#3 Enter the details
The broker will only demand an email ID and password for the demo account. Traders can enter their email ID and verify it.
#4 Click on submit
Finally, clicking on the submit option will have your Exnova demo account ready. Traders can log in to their demo account at any time and use the features offered by the broker to learn how to trade.
(Risk warning: Your capital can be at risk)
How to use the Exnova demo account?
Once traders have their Exnova demo accounts ready, they can finally use all its features. The demo account will work just as the live trading account will. So, a trader must follow a step-by-step process to use the demo account.
#1 Find an asset to trade
To begin trading on the Exnova demo account, traders must find an asset to trade. The asset availability on the demo account is almost 250. Traders can choose an asset they see they think is profitable.
#2 Use the features to conduct the research
Traders will find several technical trading indicators and trading charts on the Exnova demo account. Traders can use these technical indicators, like RSI, ATR, MACD, etc., to determine market trends.
These tools allow traders to understand the price movement. Finally, traders can determine whether it is worthwhile to invest in the asset.
#3 Place the trade
Now, traders can finally place the trade on the Exnova demo account and see how the trade works. If the trade fails, traders must understand that their trading strategies must change.
Traders must try to trade regularly on their demo account. It will allow them to understand their trading capabilities. Once traders find that they are making Exnova profits on over 50-60% of their trades on the Exnova demo account, they can finally switch to the live trading account for real trading.
(Risk warning: Your capital can be at risk)
What can traders expect from the Exnova demo trading account?
While the demo account offers great opportunities to traders, there are a few things traders must know about its working.
Simulated trading environment
The Exnova demo trading account provides you with a simulated trading environment. Traders can place trades here. It also allows traders to run a trading strategy test. Also, traders get familiar with the platform without risking their own money.
The trading environment on the Exnova demo account offers traders real-time financial data. Traders trading on Exnova can access trading tools and features on the live trading platform. It includes charting tools, technical indicators, and order types.
Virtual funds
Most demo trading accounts provide you with virtual funds to use for trading. Traders can experiment with trading strategies without losing a penny.
Real-time market data
A demo trading account offers real-time market data, including prices, charts, and news. Traders can witness the market conditions as available on the Exnova real trading account.
No financial risk
The biggest advantage of a demo trading account is that you can practice trading without risking your money.
Conclusion – Try the Exnova demo account now!
The Exnova demo account can be a significant addition to your trading journey. The platform offers the best features to traders to allow them to trade online without fearing the loss of funds.
The Exnova demo account is user-friendly. Any trader can opt for the Exnova demo account by clicking on the website’s ‘free demo account’ option. Once traders use the demo account well, they can finally switch to the live trading account.
(Risk warning: Your capital can be at risk)
Frequently asked questions about trading with Exnova:
What is an Exnova demo account?
An Exnova demo account is a simulated trading account that allows traders to practice trading strategies. It helps traders get familiar with the trading platform without risking real money.
How can a trader sign up for an Exnova demo account?
To sign up for an Exnova demo account, visit the broker’s website and follow the registration process. Traders would need to provide some basic information and create a login password. Once traders register, they can access the demo trading platform.
Is an Exnova demo account free to use?
Yes, the Exnova demo account is free to use. Traders do not need to deposit funds to use the demo account, and there are no hidden fees or charges.
How long can a trader use the Exnova demo account?
Traders have no time limit on how long they can use an Exnova demo account. The broker allows traders to use it for as long as they need to practice trading and gain experience before trading with real money.
Can a trader move on to the Exnova live account from the demo account anytime?
Yes, traders can use both trading accounts at their convenience. To do this, you will need to add funds to your real account and verify your account.