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What is a demo trading account?
A demo trading account is a way of buying and selling financial markets within a simulated setting – so none of the funds are real, and you can’t lose any capital. However, the markets you trade have live prices, so it is as close as you can get to trading in a real market environment.
Demo accounts are useful for traders of all experience levels. If you’re just starting out, demo trading is a great way to navigate the financial markets in a risk-free setting. You can learn the ropes of how trading works without the fear of losing your money. But many expert traders still use demo accounts too, for testing out new strategies and tools before using them on live markets.
What can I trade with a City Index demo account?
What's the difference between a demo account and a live account?
The key difference between a forex demo account and a live account is that a demo comes with zero risk – it enables you to buy and sell real markets with virtual funds. With a live account, on the other hand, you’re risking your own capital.
Many traders use a demo to see how the markets work – or test drive our platform – before they upgrade to a live account that earns real profits and losses.
There are some other differences between demo and live accounts. For example, you won’t be able to access features such as Performance Analytics or SMART Signals with a demo.Open your forex demo trading account in Singapore here. Or if you want to experience real trading, open a live account.
How to open a forex demo account
Opening a forex demo account in Singapore is easy – you don’t need any paperwork or bank details, just your name, phone number and email address. Simply fill in the form above, and we’ll send you an email with your username and password. You can use these to log in to our Web Trader platform or mobile trading apps.
The account comes preloaded with virtual funds, and you’ll be given a tour of how the platform works when you first log in.
Demo trading account FAQs
How long should I use a demo account to trade?
We’d recommend using a demo account until you feel comfortable trading with real capital. Ideally, you’ll have a comprehensive plan and strategy in place too, so you know exactly what to do once you’ve added some funds.
City Index demo accounts expire in 12 weeks, but you can open another one if you wish to continue practising for longer.
Can I open multiple demos accounts?
Yes, you can open as many City Index demo accounts as you like – although you’ll need a different email address for each one. You can also apply for another demo account once your current one has expired by contacting our client services team, if you want to trade risk free for a longer period.
What is paper trading?
Paper trading is another name for trading on a demo account. The name comes from an old style of simulated trading, where you’d write down your proposed positions instead of executing them in the open market. Today, demo accounts automate this entire process.