Table of contents
- eToro Signup-getting the eToro practice account
- Demo Account Tutorial for eToro
- How to Switch from Live Account to eToro Demo Account and Vice-Versa
- First eToro Login-How to Start Practicing with the eToro Virtual Account
- What is the Difference Between a Demo and Live Trading Account?
In the trading business, there is always a risk of losing money. But you can’t afford to lose money, especially when you just started trading. That is why there should be a way where you can practice trading business. An eToro demo account is only built for this purpose; you can sign up and start using the virtual money for trading purposes to understand the market better without any risk involved. The eToro demo account offers you $100,000 of virtual money, which is enough for every beginner to learn every trading type. These eToro practice accounts provide you every feature that you need to know about the market.
eToro Signup-getting the eToro practice account
Following are the steps to sign up for an eToro account:
- Visit https://www.etoro.com/ and create an account via facebook or via gmail account.
- First of all, finish the sign-up process, and then you will have the option to switch from a live trading account to a demo account.
- When you are on the “Sign-up” page, you have to enter your First, Last Name, email, phone number, and then set your password.
- In the end, you have to accept “terms and conditions” and also the privacy and cookie policies of eToro.
- After this, just click on the “Create Account” option, and your account will be created.
- You will also see an option to verify your registration, which is necessary to complete before starting.
- Then you will be automatically directed to the main page where you can deposit funds in your account, start trading, or copy successful investors.
- You need to go to the “Complete Profile” page, where you have to complete all of the asked information.
- You will now see the option of switching your account from live trading to demo trading by clicking on “live” or “virtual” options available on the homepage.
Demo Account Tutorial for eToro
After the sign-up process, you will see that your account has a balance of $0. But when you switch the account to “virtual,” your virtual balance will be $100,000. This balance is enough for you to learn the trading environment. You can either choose to invest in the company you have already researched for, or you can copy other trader’s strategies. This account will work similar to the original account, but the only difference is that the money is not real. You will have all the features of eToro in an eToro demo account. This will help you better understand the trading market. You can analyze your strategies whether these are good or not by using and investing the virtual money. You will be familiarized with the environment without the risk of losing any of your hard-earned money.
eToro virtual accountWe are covering the basic features to get started on eToro. We demonstrated how easy and simple it is to use eToro trading platform.
How to Switch from Live Account to eToro Demo Account and Vice-Versa
You can see the option of “Real Portfolio” and “Virtual Portfolio” right below your profile picture to switch your accounts. After clicking your desired option, you will have to confirm the option you have chosen. For instance, you want to switch from your live account to a demo account, you have to select “Virtual Portfolio” under your profile picture. After that, you will see a pop-up notification on your screen, which will ask to confirm your option, and then you have to click on the “Go to Virtual Portfolio” button. In this way, you will be able to switch from the live account to the demo account. For switching back to a live account, you have to follow the same procedure, but this time, you have to select the option of “Real Portfolio” under your profile picture.
First eToro Login-How to Start Practicing with the eToro Virtual Account
After your first login, it is necessary to get familiar with the trading environment and eToro features. You should know how eToro works, and a demo account is the best way to do so. You can access all of the Trade Markets in eToro. Your virtual account will show you all the trade markets available for you to start trading. You can access the feature of Copy People; this will allow you to copy other people’s strategies on eToro, and you will be able to copy these people automatically or manually. Invest in CopyPortfolios is another feature of eToro where you can learn about CopyPortfolios. You can access this feature from your demo account. All these features will help you better understand the working of eToro. Keep on practicing these features before you are ready to start trading from your live account.
What is the Difference Between a Demo and Live Trading Account?
eToro demo accounts are similar to live accounts. You can access all the features of eToro and the trading market through both of these accounts. The real difference between these accounts is money. The amount you have in your demo account is not real, and it doesn’t give you any real-life profit or loss while trading from it. In contrast, live accounts have your real money. It means you have to deposit actual cash in it to start trading. Live account’s balance depends upon the cash you have deposited in it. The initial balance is $0, as there is no sign-up or any other bonus currently available for eToro users.
On the other hand, demo accounts have a virtual balance of $100,000, regardless of your money in your real account. You can use this cash to start practicing trading. The profit or loss of virtual money doesn’t affect the balance you have in your live account.
Trading is no doubt a risky business regardless of your experience in it. That’s why it is better to understand the environment before suffering from a considerable loss, especially in your initial days of the trading business. eToro demo accounts allow new and intermediate users to learn the trading environment and polish their trading skills. You can access all the eToro features for free and understand about them better. The features available in eToro virtual accounts are all the best way to gain more knowledge in the trading field. eToro practice accounts are best used among other broker sites demo accounts because of their simplified and easy-to-use interface.