Quotex demo account – How to use it correctly?

Binary Options trading or forex trading is considered one of the largest and most engaged financial markets in the world. This market has offered a lot of opportunities to the traders to earn extra money by investing in different financial products. 

Even though you can’t ignore the risks associated with this market, when done wisely and following some proven trading strategies, you can increase your chances of making profits. However, the risk factors have made some users from staying away from Options trading.

Well, if you are new to this and worried about the risks, then there is good news for you. Most of the online options trading brokers are now offering free demo account facilities. The Demo accounts, such as the Quotex Demo account, offer a chance to understand the market.

Speaking more about it, a demo account is a practical and free way to explore all the features of the trading platforms. For example, if you want to use the Quotex platform, then by using its Quotex demo account, you can explore the things that it has to offer.

Well, here, you will get to know more about the Quotex demo account and how to use it properly to learn the market before making live trading. So, keep reading. 

What do you mean by a demo account?

In simple words, a demo account will come with virtual money. Besides, it will have all the features as well as functionalities along with technical indicators, just like a live account has.

So, if you are doing options trading for the first time, then this can be an effective tool for you to get familiar with the trading platform’s fundamentals. Besides, you will also be able to learn everything about the financial market. 

What’s more? If you are a professional trader, then using some good demo accounts, for example, Quotex demo account, they can try out different trading strategies without the risk of making any loss. 

Why choose a demo account?

Well, trading in the demo accounts offered by the online brokers can help beginners to learn how to do Binary Options trading using real money. Besides, they can understand the risks. It can train the traders to analyze and understand the market. 

Besides, you will know how commodities’ exchange rates function without losing real money. It has been proved that demo trading can eliminate the physiological risks that can break and make trading. Even if it does not perfectly assess the trading abilities, it will definitely help you to practice.

It is not a good idea to begin trading using instruments that you try first. Remember that every tool or instrument comes with its own peculiarities. For example, trading hours, volatility levels. You should analyze the first and choose the right one.  

It is important for the traders to choose the best time to do trading. By applying various timing techniques through your demo account, you can have a better understanding of the timing. 

The traders will be able to check the performance and can also compare their performance with the current events, global markets, and other major factors that can affect the value of your currency. 

In simple words, a demo account provides the traders with a good educational tool to start options trading. If you are looking for the best demo account, you can go for the Quotex Demo account. 

Quotex- A reliable platform with a feature-rich demo account

When it comes to choosing the best trading platform for options or forex trading, most of the traders prefer to choose Quotex. Introduced in 2020, it is a brand-new platform that enables traders across the world to trade multiple assets. For example, Indices, Commodities, Binary Options, Cryptocurrencies, and more.

Awesomo LTD is the owner of this platform and is regulated by IFMRRC- International Financial Market Relations Regulation Center. Some people choose this broker considering the types of assets it offers to the traders. 

Besides, with this platform, the traders can receive the highest payments as the platform’s payout percentage is more than 9 percent.

About the trading platform

If you are looking for an easy-to-use and most responsive platform to carry our Binary Options trading, you can trust Quotex. The trading platform is fast and well-structured. Even if you don’t have sufficient trading experience, you will find it very easy to use. 

There are many factors and features that can attract traders to give its platform a try; however, the most crucial element of this platform is its Quotex Demo account. Let’s talk about this account in detail. 

Quotex demo account- A great tool for new traders

If you don’t know how to use Quotex for trading, then don’t worry at all, as Quotex offers a demo account to all. This free-to-use account has been designed in such a way that it can properly simulate the real trading practices considering the market condition. 

The users will get a chance to trade under a live trading environment, but the money will be virtual. 

It has all the required features and tools that one can use to develop and polish trading skills. As per the information given on the official site, the Quotex demo account comes with USD 10,000 that you can use to invest in anything. 

How to open a demo account with Quotex?

Well, the process of opening a demo account is quite easy. All you need to do is submit some information, and you are ready to move.

  1. First, visit the official account of Quotex and then click on the Registration option.
  2. Now, you will see the registration form where you need to give your email ID, set a password, and choose the currency type for the investment. 
  3. Once done, click on the Registration option. It may be noted that you can also open an account using your Gmail or Facebook account. 

While filling up the form, make sure that you have given the correct data. If you provide incorrect information, then you can face issues during account verification, and that may prevent you from using the Quotex Demo Account. 

Once registered, you can use your demo account with a USD 10,000 balance. Practice as much as you want and learn how to trade. 

How to use Quotex demo account correctly?

As described above, this demo trading account helps you to try out different strategies to see what can work for you. Besides, using this, you can understand your weakness and strength. 

Quotex says demo trading is based on real market price, but in the place of real trades, you will be making simulated trade. Now, let’s talk about how to use your Quotex demo account to improve your trading performance. 

Understanding the goal of demo trading

If you are planning to use the demo account, then you should have a goal to create a strategy and then follow that. This will help you to identify the most effective trading strategy. Sometimes your emotions may make you face loss. Well, you can’t completely avoid your emotion but can learn some methods to control it. 

You can also use your Quotex demo account to work on your discipline where there is no risk. If you can participate in the trades that you are supposed to, you can develop your discipline. 

It has been seen that some traders consider a demo trading account like a playground as it doesn’t involve any risks. However, they should remember their demo account will be effective if they choose trades that match their trading plan. 

It should mirror the traders circumstances

It is a fact that most people use a demo account to take their winning strategies from the Quotex demo account to the live account. So, make sure it will work during the live trading; you should try your best to make your demo account trading experience as real as possible. 

  • Consider the trading as real trading while using the demo account. You know that you are using fake money, but that can be used to learn the tactics. Always stay disciplined and don’t use a demo account to practice bad trading habits. 
  • The demo account should demonstrate the monetary value. For example, if you have only USD 10,000 for day trading, then start your demo account with USD 10,000. Don’t go for a USD50,000 demo account if you have only USD 2000 in your live account. This way you can understand how to spend your money. 

Practice options trading anytime you want

As per the experts, you should fix a time slot to use your Quotex Demo account. Whenever you get free time, even if you are traveling, you can spend your time on a demo account. After all, it is free to use, and you will be learning something that can help you in your trading. 

Treat your demo account like a real account. Why? Well, what you do at your demo account will greatly affect your success rate. Practice different strategies, create plans, and use the available tools. Develop the confidence and skills so that you can easily trade using the live Quotex account to make money. 

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