Investors and Forex traders begin with a demo account at Investous.com, in order to get acclimated with the unique Forex trading platform. This is a very important step at the beginning of your investing journey. You need to properly understand the way that their software works, so that you will not be stuck when you are ready to invest or make a trade.
It is a good thing that Investous gives all their new customers a free demo account. You will be able to see order types, margin requirements, stop loss and take profit settings.
How to Open a Investous Demo Account?
In order to open a demo trading account at Investous, you will need a valid phone number and your email address.
Once you are there, click on “Sign up”. That will take you to a page which offers you both a Real or Demo Account.
Click on Demo (instead of real) and enter your Full Name, Email Address and Phone Number. That is all you need to fill in to get your account.
Since Investous is a CySEC regulated broker in Europe, you must qualify for a trading account. The questionnaire is actually only necessary for a real trading account. So, you can just click the X on the box, and carry on to your demo trading account.
You will receive an email from them, with separate login details for your MetaTrader 4 (MT4) demo trading account.
Practice Account vs. Real Account.
Their Free Demo Account is the perfect way to test your new trading strategy. If you are building a Forex robot algorithm, you would have to be crazy to not first test it on a demo account.
There are a few differences in a demo account, as opposed to a real account.
- The money is virtual, or paper money. This way, if you lose $100K, you can start again.
- Psychologically investors are not as cautious when using a demo account. This causes them to place riskier trades, and sometimes gain huge profits, which are fake.
- All trades will execute on a demo account, but in a real account there are sometimes liquidity issues which will prevent an execution.
- The market price on a demo account many times is not 100% accurate. Spreads may be show as being tighter than in real market conditions.
- Some brokers do not show all available underlying assets in the demo account.
Compare Forex Trading Brokers
Online brokers in general are international companies, handling clients from all over the world. Some have restrictions on the accepting clients from sanctioned countries, and others do not accept from leading countries. For instance, Australian brokers do not accept clients from the United States and vice versus. So, it is always important to find a broker that is licensed by your local government’s monetary authority.
Local brokers are better because of a few reasons.
- They are licensed in your country, and your money is secure.
- Spreads on Forex pairs with your local currency are tighter. For example; European brokers have tighter spreads on the Euro / Pound versus an Australian or Kuwait broker.
- Latency, which is the amount of time it takes to confirm an order, happens faster. Although the internet is very fast, there exists latency issues when connecting from London to Melbourne.
Investous Review Summary
Investous is a NEW CFD broker, offering investors and day traders alike, the ability to invest online. Investous is owned by F1MARKETS LTD, and their license number is 267/15.
They offer a wide range of products to trade CFD’s. You will find Forex Currency Pairs, Commodities (Oil, Natural Gas), Precious Metals (Gold, Silver, Platinum etc.) and Market Indexes (S&P 500, Nikkei, Nasdaq).
Go get your demo account at: Investous.com.