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Opening an eToro demo account begins by visiting the official eToro website, where users complete a simple registration form with a username, email, and password. After submitting the form, eToro sends a confirmation email with a verification link that grants access to the web trader platform. Once logged in, traders can switch from the live account to the demo account to practice with virtual money while using the same login credentials as their live account.
The eToro demo account provides $100,000 in virtual funds and access to all tradable instruments, including stocks, cryptocurrencies, and commodities. eToro features real-time market data on the virtual account, with leverage up to 30:1 and an unlimited trial period. Users can reset their balance at any time and utilize eToro’s educational resources, trading tools like CopyTrader, and technical indicators. However, unlike live accounts, demo accounts do not experience slippage or trading psychology effects, which can impact real-world performance.
eToro users must verify their identity with official documentation and fund their account to switch from a demo to a live account. The eToro live version involves real financial risks, market execution differences, and transaction costs such as spreads and commissions.
How to open an eToro demo account?
There are four steps to open an eToro demo account. These are visiting the eToro’s website, fill the registration form, verify your profile and login into the demo account. The different steps to open an eToro demo account are listed below.
First, visit eToro’s website. To open an eToro demo account, it is necessary to visit the eToro webpage. Traders will be redirected directly to the registration form. Note that there may be scams that copy the broker’s site. Follow the link to get the correct one.
Second, fill the eToro registration form. You can see the registration form in the image below. Here you should insert your username, valid email and choose a password. Then click ‘Create Account’.
Third, verify your eToro profile. eToro will send you a confirmation email to the address you’ve provided during step two of the registration process with a link to click to confirm your account. The click will both verify your identity and redirect you to the eToro webtrader platform. eToro will send this email instantly, so if you do not receive it, you may want to check your spam or junk mail folders, since your provider may mistake it for unwanted communication.
Fourth, login into the eToro demo account. Once you have logged in for the first time, you will finally be taken to your new eToro profile. You will notice that your initial balance will be 0$ in the ‘live’ section of your profile. Click on ‘Switch to Virtual’ below ‘Deposit Funds’.
Finally, eToro will notify you are about to switch to the virtual portfolio via the pop-up message below. Confirm this by clicking the blue ‘Go to Virtual Portfolio’ button. It can use the same login details to manage both your eToro demo profile and live eToro profile and interchange between the two.
What are the features of the eToro demo account?
The features of the eToro demo account are listed below.
- Trading Platform: The eToro demo account is available on both mobile and desktop devices via the web trader.
- Virtual Money: The eToro demo account provides users with $100,000 in virtual funds to practice trading.
- Tradable Instruments: The eToro demo account offers access to all tradable instruments available on the platform, such as stocks, cryptocurrencies, commodities, and more.
- Leverage: Leverage is available in the eToro demo account, with traders able to apply leverage of up to 30:1 when opening the account.
- Real-Time Market Data: The eToro demo account includes real-time market data. This feature allows users to experience live market conditions as they practice their trading strategies
- Account Time Limit: There is no time limit on using the eToro demo account and the users can practice trading indefinitely.
- Balance Reset: Traders can reset the eToro demo account balance to continue practicing without any financial risk.
- Multiple Accounts: Traders cannot open multiple eToro demo accounts; each user is limited to one demo account. If traders want to open more than one eToro demo account, they will have to register with a different name and email.
- Educational Resources: The eToro demo account includes educational resources through the eToro Academy, which offers courses, guides, webinars, articles, podcasts, and video tutorials.
- Trading Tools: Traders can practice trading strategies on the eToro demo account using various tools and features like CopyTrader and technical indicators.
- Customer Support: Customer support is available for eToro demo account users to assist with any questions or issues they may encounter.
The eToro demo account main features and characteristics are detailed in the table below.
| eToro demo account | Characteristics |
|---|---|
| Demo available | Yes |
| Trial duration | Unlimited |
| Demo platforms | Proprietary Platform |
| Virtual money amount | $100.000 |
| Customizable features | Yes |
What is the difference between a live and demo eToro account?
The differences between eToro demo and live accounts involve real vs. virtual funds. An eToro demo account provides simulated trading without risking money, while a live eToro account involves real investments with potential gains or losses. The demo account lacks trading psychology exposure and slippage, which are present in live eToro accounts.
Demo accounts allow traders to practice in a risk-free environment, while in live accounts, traders trade with real money. This involves financial risks, as losses have a direct impact on traders’ capital.
As for market execution, the main difference between demo and live trading is slippage. Slippage is the difference between your initial requested order price and the actual order’s execution price. Slippage may occur in live trading but does not occur on a demo account as all funds used are virtual.
Demo accounts try to replicate real market conditions, but factors such as commissions and slippage can lead to differences in the market execution compared to live trading.
In live accounts, traders encounter costs, such as commissions, spread and other transaction costs, which affect traders’ earnings, while in the demo account there are no transaction costs and commissions are low or equal to zero. For Live accounts, there is a $10/month fee if you’re inactive for 12 months, while the demo accounts are unlimited without any cost.
How to switch from an eToro demo to an eToro live account?
There are three steps to switch from an eToro demo to an eToro live account. These are to provide proof of your identity, verify your account and make the first deposit. The different steps to switch from an eToro demo to an eToro live account are listed below.
First, provide proof of your identity (Passport, ID, or Driver’s Licence) and proof of your residence (Bill utility, or bank statement) to become verified by the broker. Depending on your country, eToro may ask to fill out a questionnaire about your trading knowledge.
Second, eToro will verify your account. This step confirms that your identity and residence have been authenticated.
Last step, make your first deposit and start trading. The eToro minimum deposit depends on your location, it goes from $50 to $10.000.
When switching to a live account, traders will still get the possibility to use your eToro demo.
How to best use an eToro demo account?
To best use an eToro demo account you have to set up the eToro demo account, treat money as if it were real, practice daily, try to interact with an eToro Professional Investor and try out the copy trading functions.
Setting up the eToro demo account as you would a real account is essential. Choose the balance, currency, and platform settings carefully to mirror the conditions you would use with actual funds. This helps create a realistic trading experience.
Treat the virtual money as if it were real. Avoid reckless trades and focus on making informed decisions. This approach will help develop disciplined trading habits that can be applied when transitioning to a live account.
Practice daily to refine your skills. Regular engagement with the platform allows you to understand market movements, test different strategies, and become familiar with various tools available on eToro.
Try to interact with an eToro Professional Investor. Observing and learning from experienced traders can provide valuable insights into market trends, risk management, and decision-making processes.
Experiment with the copy trading functions on the eToro platform. This feature allows you to follow and replicate the trades of successful investors, helping you learn from their strategies while diversifying your trading knowledge.
What are the advantages of an eToro demo account?
The advantages of an eToro demo account are listed below.
- Trial duration: the eToro demo account is unlimited
- Knowing the platform: allows traders to learn and familiarize themselves with the platform offered by broker
- Risk-Free Environment: allows traders to practice trading techniques and strategies without risking real money
- User-friendly: traders can easily manage their virtual portfolio thanks to a clean and simple interface
- Social Trading: Social Trading Opportunity with One of the Largest Communities in the World
What are the disadvantages of an eToro demo account?
The disadvantages of an eToro demo account are listed below.
- Lack of Emotional Involvement: traders may not experience the same emotions compared to live accounts. This can lead to a false sense of security in trading decisions
- No slippage: demo accounts allow you to execute orders at the requested price and can lead to unrealistic expectations of the markets
- Ignoring risk management: traders operate with virtual money, therefore often underestimate the importance of risk management
To find out more about eToro’s characteristics, features, pros and cons and opinions, check out our “eToro review“.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
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