Our Libertex demo account review offers tips on how traders can achieve the most beneficial Libertex demo account trading experience and avoid shortfalls. Learn about the differences between the Libertex demo and live accounts.
Libertex Demo Account Features
The Libertex demo account allows beginners to learn how to use the web based Libertex trading platform and mobile app, but not offering MT4/MT5 trading accounts is unfortunate. Seasoned traders can evaluate the trading conditions at Libertex and determine if they suit their trading requirements.
Libertex Demo Account Overview at a Glance
Libertex Demo Account | Features |
|---|---|
Availability | Yes |
Account duration | Unlimited |
Demo platforms | Proprietary web-based trading platform and mobile app |
Account options | Adjustable demo account balance or reset of the Libertex demo account |
Algorithmic trading (EAs) enabled | No |
Account balance | $50,000 |
Number of Libertex demo accounts | One |
Libertex Demo Account Opening - Step by Step
The Libertex demo account registration takes ten seconds. With our step-by-step guide below, you will log into your Libertex demo account with the last step.
Here is how you open your Libertex demo account:
- Go to the Libertex website, and click “or practice on a demo account,” under the “Start Trading Now” button.
- The Libertex demo registration form asks for an e-mail address, desired password, and phone number. Clicking “Open Account” completes the registration process.
- Libertex will send an e-mail with the account login details.
- Traders can now log into the Libertex web-based platform and use their Libertex demo account.
Noteworthy:
- The default balance is $50,000, but Libertex has an “Update demo balance” feature.
- Despite offering MT4/MT5, which support customizable demo accounts, Libertex does not offer demos on those platforms, and asks traders to use its web-based platform.
- The Libertex demo account has no expiry.
How to Use the Libertex Demo Account
The Libertex demo account offers essential functions for beginner traders and seasoned traders, but everyone should consider its limitations and shortfalls. Our below tips will help traders experience the most beneficial Libertex demo trading experience.
Tips on using the Libertex demo account:
- Ignore the $50,000 default Libertex demo balance and adjust it via the menu to a level similar to the planned live portfolio (entering a negative value and clicking “Update Balance” will decrease the Libertex demo account balance)
- Treat your Libertex demo account like a real money account.
- Trade lot sizes based on your expected live deposits.
- Learn how to use risk management while experimenting with settings.
- Use your Libertex demo account daily to establish trading patterns.
- Evaluate your strategy, tweak it, test new ones, gather trade data, and compare performances.
- Consider inherent demo account limitations, especially the absence of real trading psychology.
Differences between Live and Demo Accounts with Libertex
Libertex attempts to offer live trading conditions in its Libertex demo account, but demo traders will never experience this fully. Traders should understand that no simulation will expose them to all the aspects of successful trading.
The primary differences between live and demo accounts are:
- No exposure to trading psychology, which separates up to 90% of unprofitable retail traders from profitable ones.
- No slippage, profits, and losses, as there is no real market.
Noteworthy:
- The relationship between trading psychology and how it influences trading often results in immediate live portfolio losses after profitable demo trading.
Pros and Cons of the Libertex Demo Account
Before traders register for the Libertex demo account, they should consider its pros and cons. It will ensure proper usage and awareness of mistakes and demo traps. Demo trading can yield a false sense of accomplishment. Therefore, beginners should approach it cautiously and realistically. Education is the first step for new traders, with a distinct focus on trading psychology followed by risk management strategies and their relationship to leverage. Beginners can then incorporate them into their Libertex demo trading experience.
The pros of the Libertex demo account are:
- Fast online registration process with minimal data collection
- No time restrictions
- Adjustable Libertex demo account balance
The cons of the Libertex demo account are:
- High Libertex default demo account balance of $50,000
- Lack of exposure to trading psychology
- False sense of security and accomplishment
- May promote reckless trading, unrealistic expectations, and a wrong mentality.
Libertex Demo Account Bottom Line
While the Libertex demo account comes with a default balance of $50,000, traders can lower it via the menu and should decrease it to a size similar to their planned live portfolio. There is no expiry on the Libertex demo account. Per the Libertex help section, the Libertex demo account is only available for the proprietary web-based trading platform and mobile app for manual traders, despite MT4/MT5 as trading platforms.
Furthermore, feel free to read our updated Libertex broker review. The Libertex demo account cannot simulate trading psychology and other aspects of live trading, like greed, fear, and stress. The Libertex maximum demo account balance is $50,000. Libertex only offers its demo account for its web-based platform, which caters to manual trading. Therefore, it trails competitors by a wide margin. No, there are no fees for the Libertex demo account. The Libertex demo account is part of each trading account registration, and traders cannot delete it unless they want to delete their Libertex account by contacting customer support. Libertex automatically deletes inactive demo accounts. Traders can open a Libertex demo account via the online application form. Yes, the Libertex demo account is available for its web-based trading platform and mobile app.FAQs
What is the difference between the Libertex demo and real accounts?
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