To reflect the simplicity of the demo trading platform, Libertex also has a single demo account for trading. A “one size fits all” solution. The trading demo account can be used with a leverage of up to 1:500, has no spread, and the broker only charges a commission on certain assets.
It is simple, effective and very practical, which is the main reason why Libertex has more than 2 million satisfied clients.
Otherwise we don’t feel like advising those who are just starting out in the world of online trading. That’s because there are other brokers that are simpler and have intuitive platforms. For example, we recommend evaluating:
IQ Option which offers a simple and really good platform to understand how to do practice. With a minimum deposit of 10 dollars which is one of the lowest. You can try it out from here.
eToro so you can copy other traders and take advantage of the possibility to exchange information through Social Trading. Visit the Official Website.
Free Libertex Demo Account
Until very recently, Libertex did not offer a demo account. However, today they do. The Libertex free demo trading account seems to be available on all three trading platforms, which is good, as it gives you the opportunity to try out the entire product before registering.
Unlike other brokers, Libertex offers a smaller amount of virtual money. Today, most brokers have online demo trading accounts from $10,000 to $100,000, but Libertex only offers $5,000. Although, it is not the end of the world as the Libertex demo account is unlimited. Please note that recharges are not automatic and you have to recharge the demo account yourself. To get more virtual money after you have emptied your balance, you need to visit the Balance tab, and from there you can choose to restart your demo account for another $5,000.
Instead of practicing with free virtual funds, you can also open an account and practice using smaller investments and low leverage. If you wish you can open a live account with Libertex from here. The minimum deposit is $10.
There are some benefits to using real money over virtual money, and it will help you improve your money management. You see, when people trade with virtual money they tend to take unnecessary risks as they have nothing to lose.
If you want to know more details about this broker, we invite you to see our complete Guide to trading with Libertex
Demo account on the Libertex web trading demo platform
If you want to register for a free demo account, just go to their website. When you enter, you may notice that there is a button that visibly references or indicates “Start trading the market now” the practical option with a demo account.
If you want to open a demo account, you should click on “practice with demo account”. You will be redirected to the window where you should fill out the form by entering the requested data. After that, activate the button to open an account.
As you can see, the Libertex web platform as well as the desktop platform provides you with 5000$ of virtual funds. Such funds can be used at your discretion to trade with the real assets provided by the platform.
After entering your data you will be directed to the Libertex demo trading platform.
A confirmation and welcome message to the broker will be sent to your email.
After you have finished all the initial registration, and then you can enter the Libertex Webtrader platform, we can notice that in the upper right side you indicate the type of account we are accessing, in this case, “DEMO ACCOUNT” demo account.
When you click on the email a context menu will be displayed, i.e. a window where you can switch between the two types of accounts available – demo account and live account.
In addition, you will be able to manage and configure various aspects of the platform, for example
- Switch to switch from demo to live account and vice versa.
- Deposit can modify and add funds to the demo account
- Start over: recharge the initial $5,000 if you spend it
- Trading operations
- Manage user profile
- Broker Notifications
- Available language
Libertex Demo Account vs.
It is very important that you know the differences between a live trading account and a Libertex demo account. You also need to understand the advantages and risks of the two types of accounts.
A “Real” trading account is an account that you use to trade on the Libertex platform with your own money. After registering your account, you can deposit money and start trading. Any profit you make can be withdrawn or reinvested – the choice is yours.
A demo account, on the other hand, is very different. No lengthy registration process is required to open the demo account, all you need is your name and email address. After that, you will be given virtual $5,000 that you can use to trade in real market conditions. Since the money you are using is virtual, you will not be able to withdraw any profit, but this account is used for trading practice.
The risk of using a Libertex Demo account
Demo accounts are practical tools that can help beginners avoid unnecessary losses and support experienced traders in their strategic work. However, there is a risk to demo accounts.
Since you are not trading with real money, you are likely to take more risks and in some cases even be careless with your money. Obviously, this is not a problem since you do not risk losing anything, the problem arises when you switch to a regular account. In some cases, traders continue to trade carelessly when switching from demo trading to real trading and that can put you and your funds at risk.