eToro Demo Account Review

Trading is a high-risk investment. There is a relatively steep learning curve as well. Before you begin trading, you need to have a deep understanding of how the market works, and all the risks you will be getting yourself into with every decision you make.To get more news about eToro Demo Account, you can visit wikifx.com official website.

Due to all these risks, demo accounts were provided by brokers. The purpose of a demo account is to mimic the trading environment and give you time to get accustomed to the trading tools. Demo accounts help you train your eyes and mind for the real market. They allow you to make all kinds of rookie mistakes with none of the losses.

Practicing for a couple of months on a demo account is crucial for your success as a trader. In this article, we will look at the different types of demo accounts offered by eToro, how to open an eToro demo account, and if it is a good demo account for beginners.
The best option for beginners would be a demo account for an eToro Retail Account. The Professional Account is for the highly experienced trader, and before you qualify for it, you must first master how to use the Retail Account.

Regardless of the account you choose, you will have access to all the features of a live account, but with none of the risks.
How to Open eToro Demo Account
Here is a step-by-step guide to opening an eToro demo account:

1. Create a Free Account
First, visit the eToro site and open and create a free account. Fill in the username and email details or simply use your Google account. Select a preferred username.
2. Access Virtual Portfolio
Once you have the account, you will need to make sure you are joining with a demo account. To do this, select the Virtual Portfolio option which will be clearly visible under your username.

3. Start Practicing
Once you have created the account and chosen whether you want the Retail or Professional option, you can start practicing right away.
The eToro demo account’s flexibility means that new traders will have the opportunity of learning how to trade at any time of the day, thus giving them more practice hours. Although this may seem like a small thing, the minimum amount of time required for you to practice on your demo account is 6 months. That is a lot of time. So, if you put in more hours, you will be ready to start trading sooner.