Day trading is surrounded by so many myths and misconceptions. And it’s also full of people that only jump into the markets, shoot some trades and lose all their money. That’s why day trading is so frowned upon. They don’t even know the basics and don’t take enough time to practice and backtest it. For this reason, I’m going to list down the best future demo accounts for you to paper trade.
It’s true that most successful traders have learned a lot, and keep learning every day. But you need a place to put all this knowledge without losing money, right? This is when a paper account comes to play. A futures demo account will allow you to use all features live trading gives you, but in a simulated environment. This means that you can do analysis, use indicators, and even set trades using fake money. Of course, the activities people do on a demo account don’t affect the market.
This is one of the most powerful trading tools an aspiring trader can have. You can follow real trading strategies and objectives, backtest them until you find something that works for you. Find the best futures demo accounts here:
Choosing a broker can be an overwhelming task. You can find a good amount of online trading platforms on the internet. The popularity of day trading has increased the ease of using a demo account.
A good demo account will reflect live trading conditions. For example, if the price of oil goes up on the live account, the same will happen on the demo account.
With a client base of over 20 million traders, eToro is one of the most popular online brokers for the last years. This broker offers you a lot of financial instruments to trade from all over the world. And a demo account with $100k preloaded. You don’t need to deposit any money and will have a full trading environment, allowing you to use indicators and many more features. You can take good advantages of futures.
While eToro is more new-trader-friendly, AvaTrade is a bit more professional since you can find the more advanced features here. AvaTrade lets you use all the features that come with MetaTrader 4 and that’s a huge plus for many people. This broker allows you to use a wide range of financial assets to day-trade.
Thinkorswim has one of the most complete sets of tools for analysis. You can access the platform via the web or by downloading the desktop app. The broker platform is not as user-friendly as other platforms, but you can get used to it really fast. One of the advantages of TD Ameritrade is that Thinkorswim is available on iOS and Android devices.
Probably one of the best futures demo account in the market. Offering advanced research tools for your analysis and a lot of trading tools for you to take action. One of the biggest pros of NinjaTrader is that you have low trading fees, many tools for technical analysts, customizable indicators, and more. Allowing you a full emini futures contract trading
With this being said, a demo account objective is to allow the investor or trader to test the live market without losing any money. Practicing strategies and using indicators. Many traders use a demo account until they find something that works for them and backtest it even more.
Remember, patience is a good thing, don’t rush to the live market, or you will end up losing trades.