Key Takeaways🔑
| →Registering an account on Olymp Trade is a simple process. |
| →The demo account is free to use and comes with $10,000 virtual cash for practice. |
| →You can replenish the demo account balance if it drops below $5,000. |
Contents
How do I open a Olymp trade account?
If you want to start trading the first step will be opening an account on the trading platform. You are in the right place. Olymp Trade is currently one of the most prominent platforms. Here we will show you how to register a new account.
You will find a registering form on the sidebar of the Olymp Trade Wiki website.
Once you enter your personal data and review the service agreement, you simply press the “SIGN UP” button.
You will then receive an e-mail from Olymp Trade with a verification link. Go ahead and click the link that will redirect you to the Olymp Trade website. There you can now log in.
A few things you should keep in mind while opening a new demo account
You won’t be asked for too many personal details. You do, however, need to include true information, particularly if you consider opening the real account later on. At some point, you will have to verify your Olymp Trade account, if you are thinking about being a professional trader. It will simplify the process of making deposits and withdrawals.
For registration purposes use an email you will also want to have for the real account. The Olymp Trade Demo account and the real account require only one email address.
How to get back $10,000 demo cash to your Olymp Trade demo account
Once you have opened a Olymp Trade demo account it will be credited with virtual cash in the amount of 10,000. I always advise to treat it as a real account and real money. But knowing you don’t really lose money can change your behaviour. Most probably you will be more ready to take bigger risk. And that’s also okay. A demo account is for practice, after all. But what to do when the account balance drops below 2,000 demo money or you lose all the money from your demo account?
Do not worry. Olymp Trade allows you to recover virtual money once your balance is under 5,000. Remember, you can do it only once in 72 hours.
In order to do that simply click “Make a deposit” button (1) in the top right corner of the platform. Then top up your balance by clicking “Deposit up to 10,000 demo money”.
You have now renewed the balance and can train again.
Practice on the demo account for a few weeks. Check different markets, strategies, time frames. Find out what works best for you. And then open a real account and slowly start to make real money.
Pros and Cons of Using Olymp Trade Demo Account 📊
Pros: ✅
- Easy to set up and start practicing
- Comes with a substantial amount of virtual cash for trading practice
- No obligation to deposit real money
Cons: ❌
- You may develop overconfidence due to risk-free trading
- The experience might not exactly replicate trading with real money
Olymp Trade: Demo vs. Real Account
| Demo Account | Real Account |
|---|---|
| Offers $10,000 virtual money for practice | Requires real money deposit to trade |
| Can be replenished when balance is below $5,000 | Balance depends on trader’s success and money management |
| No risk involved, suitable for learning and testing strategies | Involves real risks and potential losses |
| May not accurately reflect emotions and psychology of real trading | Real trading psychology and emotions come into play |
Is Olymp trade demo account free?
Yes the demo account is completely free to use. There are no obligations to deposit any real money.
Do you have already a free demo account opened? Was it complicated? Share your experience with us. Use the comments section down below.
Best of luck!
Frequently Asked Questions about Olymp Trade Demo Account 💡
- Q: How do I open an Olymp Trade demo account?
A: Fill out the registration form on the Olymp Trade website, verify your email, and log in to access the demo account.
- Q: Can I switch between a demo account and a real account on Olymp Trade?
A: Yes, you can easily switch between the two accounts once you’ve registered both.
- Q: How much virtual money do I get in the Olymp Trade demo account?
A: The demo account comes with $10,000 virtual money for practice.
- Q: Can I replenish the virtual money in my Olymp Trade demo account?
A: Yes, if your balance goes below $5,000, you can replenish it up to $10,000. This can be done once every 72 hours.
- Q: Is there any difference in the trading platform for demo and real accounts?
A: The trading platform remains the same, but the experience of trading with virtual money may not exactly replicate trading with real money.