Quotex offers a free demo account that you can use to test your strategies. The demo trading page simulates live trading conditions on a real trading account.
You can use it to learn how to trade on Quotex. I have been using Quotex’s demo account for a while now, and it has helped me improve my trading strategies.
How to open a demo account?
To open a demo account with BO broker Quotex, you can go to the main page of their official website. Click on the Open a Demo Account button to open a demo account.
In the open form, confirm that you want to trade without risk. Then you will be taken to the trading terminal, where you will receive 500,000 rubles.
This money can be used for learning trading, testing strategies, mastering tools, etc.
The main feature of the Quotex demo account is its full compliance with the trading account. Here you can use the same tools, adjust contract parameters, and check profitable and losing trades.
The broker does not impose any time limits on the use of the demo account. That is, you can use it not only for training, but also for testing new strategies.
Updating and configuring settings
If the money in the demo account runs out, you can update it. To update the demo account, click on the button with two circular arrows.
Then the account will be upgraded and virtual money will appear again. The broker does not limit the number of updates.
If you want to change the replenishment amount when upgrading, you can adjust the demo settings yourself. To do this, click on the pencil icon. In the field that opens, enter the desired replenishment amount.
Functional limitations
The Quotex demo account is designed for learning and testing strategies. If you do not register on the broker’s website, this account has some limitations.
When you try to access these functions, you will be prompted to register on the site. Once your account is created, you will have access to a training account that supports all the features of the platform.
How to Use a Quotex Demo Account?
If you have never used a demo trading account before, you may not know where to start or what to do when opening a Quotex demo account but don’t worry, we will guide you through the process.
You can trade assets on the demo account, but we will focus on how to use it for options trading.
As soon as you log in, you will see an interface with a large live chart and a variety of options. This is the binary options trading interface.
The red and green bars you see on the chart are called candlestick bars and represent the rise and fall of the currency you are trading.
For example, the red bars here represent the EUR falling against the GBP, while the green bars represent the rise.
Quotex Demo Rise and Fall: You can zoom in and out of the graph to see more clearly how the trading pair has changed over the trading period.
This will help you analyze market movements and predict where the price will move next.
Quotex Demo Candlestick: Next, you will need to select the asset on which you are trading options. In the example above, each candlestick represents the price of EUR/GBP every 5 seconds.
Click on the Assets tab to change to a different forex trading pair, cryptocurrency, stock, or commodity.
Quotex Demo Currency Pair: Once you have found the ideal asset, navigate to the right side of the screen to set the trading period.
Quotex allows you to set trades that run from 1 minute to 4 hours. You will also need to enter the investment amount.
Quotex Demo Trading Period: Quotex has a minimum trading amount of $1 and a maximum trading amount of $1000.
With a demo account, you can trade as much as you want because it is not real money. If you run out of virtual money, you can easily refresh your account. The potential payout is displayed under the “Up” button.
Quotex Demo Investment and Payout: Finally, choose whether the value of your asset will increase or decrease at the end of the set period.
For example, I chose “Up”, meaning that the value of GBP/JPY will increase in 3 minutes.
Quotex Demo Up and Down: You can monitor how your trade is progressing in the Trade tab. Green means that the trade is moving in the direction you predicted, while red means that it is moving in the opposite direction.
Quotex Demo Trading Direction: If your price prediction is correct, you will be paid out, and if it is incorrect, you will lose your investment.
In some cases, you may even receive your investment amount if the price is the same as when you started the trade.
Conclusion
Overall, the QUOTEX demo account provides a low-pressure introduction to the forex market.
Traders can learn through practice, identify strengths or weaknesses of a methodology, and proceed at their own pace before investing real capital.
For anyone interested in trading but nervous about jumping in, the demo platform provides a risk-free solution to gain hands-on market experience.
When you click the Open Demo Account button, Quotex will redirect you to the demo trading UI. So, you don’t have to provide any details or pass KYC to use the demo account.
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