JP Markets Demo Account
How to set up a JP Markets Demo Account – Step by Step
JP Markets does not offer the option to open a demo account.
Trading can be a very intimidating task for beginners without prior knowledge, skill, or experience in trading and through the provision of demo accounts, brokers provide a comprehensive and risk free environment for beginner traders.
A demo account is often referred to as a practice account due to it providing traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through the provision of virtual money with which to practice trading.
Beginner traders can use demo accounts to familiarize themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and develop their own trading strategies.
Demo accounts are not merely intended only for beginners, but it provides more advanced traders the opportunity to explore what JP Markets has to offer.
JP Markets Demo Account Features
Demo accounts serve the purpose of mimicking a live trading environment without traders risking their actual capital. Trading is conducted by using virtual money while simultaneously having access to all the financial instruments as with a live trading account.
Demo accounts allow traders to explore the broker’s offer and the trading platforms that they offer and brokers who do not offer this are at a slight disadvantage when compared to the various other brokers who do offer this along with similar trading conditions.
Pros and Cons
|1. Competitive trading conditions offered||1. Demo account not provided|
What is the difference between a demo and live trading account?
A demo account provides the trader with a practice account that can be used to practice trading in a risk free environment.
Demo accounts are often suited for beginners who need to build up experience with trading as well as advanced traders who would like to test their trading strategies and explore the offering of a broker before registering a live account.
Does JP Markets offer a demo account?
Can I convert my demo account to a live trading account with JP Markets?
JP Markets does not offer the option of opening a demo account, thus traders who choose this broker will only be able to open a live account, either a STP or ECN account which will be tailored to the trader’s needs.
Which live trading accounts does JP Markets offer?
- STP Account – minimum deposit of ZAR3,000/USD175.63, leverage up to 1:500, zero commissions charged on trades that are executed, spreads that typically start from 2 pips on EUR/USD
- ECN Account – minimum deposit of ZAR3,000/USD175.63, leverage up to 1:500, $10 commissions charged per lot, tight spreads.
- VIP Account – this account is only suited for professional traders and provides additional benefits like lowered charges on commissions in addition to tighter spreads in addition, VIP Accounts are subjected to strict criteria.
What are the available deposit currencies for a live trading account?