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eToro Demo Account
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eToro Demo Account - How to Learn Trading for Free on eToro

A demo trading account allows you to practice trading strategies and get familiar with a broker’s platform before you begin to trade with real money. The eToro demo accounts offer traders the opportunity to get accustomed to a live trading environment without the risks associated with trading.

What Is eToro Demo Account?

eToro offers a free demo account to users on its platform. The demo account is suitable for traders who wish to learn trading strategies without any risk to their portfolios. 

As a new trader, before you start the journey into trading instruments, the first step should be operating a demo account. Opening and operating a demo account on eToro is simple and you can create one in a few steps. 

The interface is interactive and it allows you to view real-time trends for each instrument. It also offers traders the opportunity to experiment with strategies such as leverages, stop-loss limits, or take profit. The demo account also allows new traders to copy trades from other experienced traders. After opening a demo account, you’ll get a free $100,000 to practice.

How to Open a Demo Account on eToro

To open a demo account on eToro, follow the simple steps below:

  • Visit the eToro website or download the app on your device.  You will be required to sign up on the website if you have not done so before. 
  • After providing the necessary credentials, you will have the option of switching between a live or virtual account. A virtual account is the same as a demo account. 
  • After that, click the signup button again for a virtual account. You will be redirected to an application where you’ll enter your personal details such as full name, username, password, and phone number. 
  • Once you fill in the necessary details, you will be required to accept the terms and conditions, the cookie policy, and the privacy policy. 
  • Click the create account option. This will lead you to a new page containing a trading platform where you can access markets, deposit funds, copy trades, and more. 
  • By clicking the ‘Complete Profile’ button, the process is now complete. You can switch between a demo account and a live account by clicking the ‘live’ or ‘virtual’ dropdown button.

How to Trade with a Demo Account 

Using the demo account on eToro is quite easy. The purpose of the demo account is to familiarize beginners with the trading environment to build trading skills. After opening a demo account on eToro, the next step is to start trading with the virtual funds provided. 

First, you must ensure you enter the market when it’s open. After that, you can search for a virtual stock or any asset you wish to trade. The next step is to click the trade button. This button is located at the top right corner of the page. 

Next, select the Buy option. Doing this will enable you to select the ‘Open Trade’ button. You can select the trade parameters such as the amount, stop loss limit, and other variables. There are certain terms you should know about. First, the watchlist contains the assets you follow. The default watchlist contains the most popular assets. Portfolio refers to the list of assets you own. It also displays the profits and losses. Check this article to learn more about how to buy on eToro.

The Copy People option allows you to copy trades from other traders. The virtual equity displays the sum of all available funds, total allocated funds, and your profit. Since the demo account is free of charge, there are no fees associated with demo transactions. 

Also, the demo account has unlimited validity. This means users can access this feature for as long as they want. eToro also provides certain tools alongside the demo account, such as learning resources, community support, and trade analysis.  

Conclusion

One of the exciting features of eToro is the demo account option. As a new beginner, you can get familiar with the trading platform, trading strategies, risk management tools, and more through the demo account. 

eToro demo account allows beginners to experience real-time trading features at no risk to their live portfolio. Once you get familiar with the demo account, you can begin to trade with your live account. For more information about the platform, read our eToro review.

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