The Saxo demo account provides a simulated trading environment with virtual funds, enabling users to explore trading strategies without financial risk. Saxo offers this platform to help traders understand its proprietary trading systems and market dynamics. The demo account allows users to execute trades in a controlled setting while familiarizing themselves with various order types and market conditions.
The Saxo demo account includes $100,000 in virtual funds and access to SaxoTraderGO and SaxoTraderPRO. Users can trade selected instruments, including physical stocks, CFDs, and forex pairs, but access to certain asset classes remains restricted. Leverage is available to reflect real trading conditions. Market data is delayed, limiting real-time analysis accuracy. The account supports resets, enabling users to restore the initial virtual balance for continued practice. Educational resources, including tutorials and learning materials, complement the platform’s features.
The Saxo demo account remains active for 20 days. After this period, access to virtual trading expires, requiring users to transition to a live account. Switching to a live account involves identity verification, account approval, and an initial deposit. The demo environment does not replicate market psychology or slippage, which are critical in live trading. Costs such as commissions and spreads apply only to real accounts, influencing actual returns.
How to open a Saxo demo account?
There are five steps to open a Saxo demo account. These are visit Saxo’s website, fill the registration form, verify your profile, customize the demo account and login into the demo account. The different steps to open a Saxo demo account are listed below.
First, visit Saxo’s website. To open a demo account with Saxo, you need to visit the broker’s dedicated page from your smartphone or PC. From here, click on the ‘Try Free Demo’ button to start the registration process.
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Second, fill the Saxo registration form. The next step is to complete a short registration form by supplying your full name, a valid email address and your country of residence. A phone number and a secure password are also needed.
Third, verify your profile. Once you submit the form you will get an email with your account details which you need to confirm before operating the account.
Fourth, customize the demo account. The next step is to choose a trading platform between SaxoTraderGO and SaxoTraderPRO. If you want to login to SaxoTraderGO, you have to click on the link and head to the browser platform. SaxoTraderPRO must be downloaded and installed.
Last step, login into the demo account. Use the login details sent by the broker to access your demo account.
What are the features of the Saxo demo account?
The features of the Saxo demo account are listed below.
- Trading Platforms: The Saxo demo account provides access to two proprietary trading platforms: SaxoTraderGO and SaxoTraderPRO. Users can familiarize themselves with the functionalities of both platforms during their demo experience.
- Virtual Money: When opening a Saxo demo account, users are provided with $100,000 in virtual funds. This amount allows traders to practice various strategies and explore the trading environment without the risk of losing real money.
- Tradable Instruments: The Saxo demo account allows users to trade a selection of around 1,000 physical stocks, CFDs, and forex pairs. It does not provide access to all tradable instruments, as certain asset classes like indices and commodities may be excluded from the demo experience.
- Leverage: Leverage is available in the Saxo demo account to enable users to trade larger positions than their virtual capital would typically allow. This feature helps simulate real trading conditions more accurately.
- Real-Time Market Data: The Saxo demo account does not include real-time market data, it offers delayed pricing. This limitation means that while users can practice trading, they may not have the most current market information available during their sessions.
- Time Limit: Users can utilize the Saxo demo account for a period of 20 days. This time frame allows traders to test their strategies and become familiar with the platform before transitioning to a live trading environment.
- Resetting the Demo Account: Users can reset their Saxo demo accounts. This feature allows traders to start fresh with the initial virtual balance if they wish to reevaluate their strategies or practice different approaches.
- Educational Resources: The Saxo demo account includes access to various educational resources, such as video tutorials and other materials designed to enhance users’ understanding of trading concepts and platform functionalities.
- Trading Strategies: Users can effectively practice trading strategies on the Saxo demo account. The platform’s features allow for experimentation with different order types and market scenarios without financial risk.
- Customer Support: Customer support is available for Saxo demo account users. This support can assist with any questions or technical issues that may arise during their practice trading experience.
The Saxo demo account main features and characteristics are detailed in the table below.
| Characteristics | Details |
|---|---|
| Demo available | Yes |
| Trial duration | 20 days |
| Demo platforms | SaxoTraderGO, SaxoTraderPRO |
| Virtual money amount | $100,000 |
| Customizable features | Yes |
What is the difference between a live and demo Saxo account?
The differences between Saxo demo and live accounts involve real vs. virtual funds. A Saxo demo account provides simulated trading without risking money, while a live Saxo account involves real investments with potential gains or losses. The demo account lacks trading psychology exposure and slippage, which are present in live Saxo accounts.
Saxo offers a good range of account types to choose from, however the only account available for demo traders is the Saxo Classic account. Both platforms are available with the demo account.
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. When trading in real, the lack of liquidity can produce differences between the requested order price and the order’s execution price, known as Slippage. This can sometimes occur during live trading, but does not occur on a demo account as all funds used are virtual.
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 $100 fee after 6 months of inactivity, while the demo accounts are valid for 20 days without any cost.
How to switch from a Saxo demo to a Saxo live account?
There are three steps to switch from a Saxo demo to a Saxo live account. These are to provide proof of your identity, verify your account and make the first deposit. The different steps to switch from a Saxo demo to a Saxo 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, the broker may also ask to fill out a questionnaire about your trading knowledge.
Second, Saxo will verify your account. This step confirms that your identity and residence have been authenticated.
Finally, after Saxo verification, your account can be funded to start trading. Saxo minimum deposit starts from $0 depending on the account type chosen. When switching to a live account, your demo will still be available.
How to best use a Saxo demo account?
To best use a Saxo demo account you have to set up the demo account as you would set up a real account, avoid opening large positions, treat money as if it were real, practice daily and use the learning materials offered by Saxo.
Set up your Saxo demo account as you would set up a real account. This approach helps you build consistent habits and get comfortable with the platform’s tools and features. It prepares you to handle real-life trading conditions.
Do not open large positions if you are not planning to trade with large amounts of money. Instead, scale your trades to a size that reflects your actual risk tolerance and goals. This way, you practice safer risk management and build better habits.
Treat money as if it were real. This mindset helps you maintain discipline and avoid impulsive decisions. By simulating actual stakes, you gain practical experience and emotional control.
Practice daily. Frequent engagement with trades and market analysis refines your skills. Consistent repetition allows you to track patterns and enhance your decision-making abilities.
Saxo provides substantial educational resources. Make full use of their tutorials, articles, and webinars. Applying these materials in the demo environment speeds up learning and builds confidence.
What are the advantages of a Saxo demo account?
The advantages of a Saxo demo account are listed below.
- Unlimited Accounts: you can open as many demo accounts as you need
- Balance Reset: you can reset the Saxo demo account balance
- 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
What are the disadvantages of a Saxo demo account?
The disadvantages of a Saxo demo account are listed below.
- Trial duration: the Saxo demo accounts are valid for only 20 days
- Lack of the psychological factor: it can lead to a false sense of security
- 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 use virtual money and may not fully understand the importance of risk management
To find out more about Saxo’s characteristics, features, pros and cons and opinions, check out our “Saxo review.”