The vast majority of brokers who make trading so-called Contracts For Difference, CFDs, are outfitted in advance to the opportunity to experience the trading platform and try out trading forex or CFDs. This can have a forex or CFD demo account can be realized, which is used as a test account. However, there is in particular in view of the fact, as meaningful and functional is such a test, greater differences between the brokers. For instance, there is a risk that the CFD demo account provides the trader with sugarcoated rates and the results obtained thus not correspond to reality. Utilizes the broker but a pure commission model, as our recommendation GKFX , this risk is relatively low.
CFD Demo Account unlimited use: Why is CFD Demo Account useful?
There are several conditions under which the use of a free CFD demo account for each trader may be useful. However, you should definitely make sure that the following conditions from the broker that provides a CFD demo account available in unlimited quantities, can be met:
- All functions should be available
- Broker should integrate not sugarcoated Courses in CFD Demo Account
- It should be possible to an ECN or STP brokers
- Insight into live courses should be possible
What does CFD Demo Account should can?
Thus, the CFD demo account can be used as fully as possible as a test account, it is advisable to opt for a CFD demo account that can be used indefinitely. Primarily, the demo account is of course to get to know the appropriate trading platform of the broker in peace. Thus, it should provide the opportunity to use all possible functions and can try that can be taken even when the real CFD trading platform to complete later.
An important point is also the courses that represents the Broker under the test account is available at each CFD demo account. Here you should make absolutely sure that the prices are realistic and not glossed over in a certain direction. In addition, the demo account should of course also be used to train the trading CFDs and specific strategies to try.This property is particularly important for new traders who may have not yet made any experience with CFD trading.
Pay attention to the realistic courses
That a CFD demo account indefinitely available and thus is usable without time limitation, is very important for many traders. In addition, realistic courses are also of great importance, which is not observed numerous traders in the form sufficiently. Primarily there are STP and ECN brokers that provide in most cases realistic Courses in CFD demo account. The main reason is that these special broker usually have no interest in sugarcoated rates such that even «recorded» the real prices partly for the CFD demo account. Somewhat different the situation is in the so-called market makers, as they generate their revenue exclusively from the spread out and often work with variable spreads. These brokers have often also a greater interest in sugarcoated courses, which then provides the customer also in CFD demo account. Therefore, you should ask yourself when choosing a broker with respect to the CFD demo account entirely the question of how real the courses when appropriate broker can actually be and they are in practice.
Our recommendation for CFD Demo Account with unlimited use: GKFX
As already mentioned, there are many brokers who provide a free CFD demo account. Our favorite in this category is the broker GKFX offering both trading forex and CFDs. The London-based company has been present for many years on the market and has been able to make a very good name in numerous sources.
This is partly due to the government regulation, as well as deposit insurance, but also in the commercial area of Broker is convincing. In this segment GKFX provides as a free demo account is available, which can be used in the variants both for trading forex and CFDs.
In particular, from the following advantages you can benefit if you opt for GKFX and the corresponding CFD demo account:
- Demo account is free
- Virtual credit and account currency can be chosen
- Test period of 30 days with optional extension
- Demo account is available for all trading platforms
Background information on Broker GKFX
Before we go a little closer to the benefits of CFD demo account that will be provided by the broker GKFX we want to provide you with some background information on the provider. GKFX is active for years in the market and one of the few CFD and forex brokers who are located in the financial center of London. This has, among other things means that not only regulation by the UK regulator FCA takes place, but customers also can benefit from deposit insurance, which ranges up to £ 50,000.
In the trading sector provides the Broker GKFX account various models available, such as a default account, which can be used with no minimum deposit. Furthermore, the great flexibility also shows that different trading platforms are provided to choose from, including the popular MetaTrader 4 traders will find a wide range of currency pairs and CFDs, which with a maximum leverage of up to 400: can be traded. 1 The currency trading starts at GKFX starting at 1.5 pips, while the respective estimated spread for CFD trading on the nature of the traded CFDs depends. should also be mentioned that the broker could even win some awards. Only in 2016, the broker in an online survey of more than 900 traders Award for Best CFD Broker. After all, the trader should evaluate areas conditions, customer service, transparency and quality of the offer of their broker. A decision that is consistent with our experience.
Actually indefinite life CFD beim Demo Account GKFX
Because we want to provide you of course also to the test account by GKFX truthful information, we first want to emphasize at this point that the test duration at CFD demo account of the broker is initially limited to 30 days. This is not unusual, because in many other brokers is also so that the test account can only be used for example, 14 or even 30 days. The big difference is the broker GKFX however, that it to the test period of 30 days at the request of the customer can enter an optional extension thereafter.
In our experience, this extension is even several times possible, so it is basically in the trial account by GKFX to a CFD demo account, which is used indefinitely. However, the term unlimited refers not only to the period within which the demo account can be availed, but also on the available functions. These are, in our experience so far unlimited, as that all functions are available, which can be used via the trading platform later also the real trading CFDs.
Practice account FXPro as alternative
If you want to use an unlimited demo account from the outset, the solution may lie the broker FXPro at as a possible alternative. Here it is in fact both the CFD and the currency trading so that customers can enjoy unlimited period demo account. Free and functional this practice account FXPro is also, so it is also about one of our recommendations in this area.
Flexibility CFD Demo Account by GKFX
In addition to the useful life, another advantage of the CFD Demo Account GKFX from the fact that this will be provided for all trading platforms. Regardless of whether the customer opts for example for a desktop version or the popular MetaTrader 4, the corresponding demo account for the respective trading platform can be used. Further client should benefit from a great flexibility, as both the account currency for the Demo account as well as the height of the virtual assets can be freely selected. The account currencies, traders between Euro, US dollar and pound sterling may decide. At the height of the virtual deposit to the Demo account, the choice is even greater, ranging in several stages from 5000 up to 100,000 euros.
Our conclusion for CFD Demo Account by GKFX
Frequently Asked Questions for GKFX Demo account
Below we would like to give each of the most frequently asked questions, a short answer, so you can spare the expense under certain circumstances, to obtain information from the customer.
How long does the account open?
In our experience, it takes less than five minutes before the opening of the demo account at the broker GKFX may be requested. The main reason is that you only need to enter a few data, such as your e-mail address. After receiving the e-mail asking you to confirm the opening of the demo account only using one and can already take the test account a few minutes later to complete.
What is the virtual capital?
Can CFD Demo Account of GKFX used long ?
In our previous statements we have repeatedly stressed that these are in fact in the trial account by GKFX to an unlimited CFD demo account. This results from the fact that initially a test period is estimated 30 days, it may be possible at any time and also extended several times after consultation with the customer according to our experience. Thus, it has in effect been a test account, which can be used for a time restriction.
Almost all CFD and forex broker that provide a demo account available, this offer for free. This applies, inter alia, on our recommendation GKFX. In addition to the direct costs that are not incurred by GKFX, however, there is in some brokers called indirect costs. This can occur when the CFD demo account can only be used before the deposit of real money in the later trading account has been made. Although the customer can deposit them at any time to undo by payment to its normal checking account, however, it sometimes occurs that then charges will be allocated to the payment and thus incur costs in the end. This is at GKFX not the case, because the demo account can be used immediately with no deposit to the real account.