What is a Demo Account?
A trading simulator that enables you to practice different trading strategies across multiple financial instruments without real investment is called a demo account.
How Does It Work?
Apart from being virtually funded, it works just like a live trading account. Brokers that offer demo accounts try to replicate the trading conditions similar to real trading accounts. Using a demo account is a useful method to test both a broker as well as the trading platform. It also helps traders to build confidence that is required to perform well in real market conditions.
Top Three Demo Accounts In India
Demo accounts are equally beneficial whether you wish to trade forex, CFDs, or crypto assets. Also, jurisdictional regulations make no difference as long as you open a live trading account. In this piece, I list three best demo accounts in India.
TradingView offers one of the best demo accounts in India. It looks just like a real trading account. It allows investors to trade Indian stocks, currency pairs, index futures, and commodities, including crude oil, etc. Order placement with a TradingView demo account is very simple. You only need to drag and drop your orders on the chart. However, the demo account doesn’t support options trading.
Traders can fund their demo accounts with unlimited virtual money and reset the limit. That means the demo account comes with unlimited expiry. You can use it as long as you decide to switch to a live trading account.
At present, the company offers four types of trading accounts’ including basic, pro, pro plus, and premium. Apart from the basic account, all other demo accounts come with a one-month expiry.
Traders can perform multiple tasks using the TradingView demo account, such as opening up positions, viewing order history, accessing trading journals, etc. They can also modify their orders after the execution. Also, setting up stop loss and take profits is straightforward with the TradingView demo account. In a bid to replicate the real trading environment, a commission is also charged in the TradingView demo account.
Plus500 is another option that traders may consider for opening a practice trading account in India. The broker offers an impressive demo trading account that replicates the real market conditions with high-end flexibility. The demo account comes with unlimited expiry. It allows traders to use different money management strategies, and backtest multiple trading models without needing to worry about the risk of financial loss. Plus500 demo account supports both android and mac based mobile devices. Traders on-the-go can use the demo account features without compromising their mobility.
To start using the Plus500 demo account, traders only need to follow on-the-screen instructions. Traders with a live trading account can also switch their accounts to demo at any time. Also, the reset option enables traders to start over again. Since Plus500 is one of the best brokers to trade stocks and other financial derivatives in India, I believe it could be a great choice for setting up a demo account as well.
3) NSE PAATHSHALA
NSE PAATHSHALA is an online virtual learning website powered by the Nifty Trading Academy. It offers multiple resources to help traders learn and improve their trading skills, including a demo account, curated market data, and a news section. Video tutorials and trading courses with simulation trading enable traders to compete and earn rewards at
With a demo account funded with a virtual currency up to 500,000 rupees, traders can experience real market conditions. Besides learning new trading strategies, traders can also observe how real-time market fluctuations impact stock trading at Indian exchanges.
The demo account provided by the Nifty Trading Academy may be the best choice for learning stock trading in India. After setting up a demo account, traders can create a watchlist of their favorite stocks. A maximum of 30 stock assets can be a part of the watchlist. The access to market quotes and order book to see the order’s status enables traders to modify their orders before execution.
How to Open a Demo Account in India?
Signing up for a demo account in India is straightforward. It only involves filling up your details on the registration page of a broker. Most of the times, traders are asked to fill up the following;
- First and Last name
- Email address
The process does not take more than a minute. After registration, you can access your email to find the login details. You might even find some brokers that don’t even require you to sign up.
Pros & Cons of Opening a Demo Account in India
With so many benefits of opening a demo account, there are also some drawbacks associated. Given below are some main pros and cons of opening a demo account in India.
Risk Elimination – Because demo accounts come with virtual funds, therefore, the risk of financial loss is impossible.
Experience – Experience comes with practice. A demo account is an effective method to understand how to react in highly volatile market conditions and tackle the price fluctuations.
Test Run – There is no other way to test run a potential broker or a trading platform but to open a demo account. With a demo account, you can ascertain how fast the broker executes your trades. You can also make sure whether the broker’s trading platform comes with advanced-level trading tools.
Execution Discrepancies – Execution of trades in a demo account might not be as good as in the real trading account. Since a demo account usually fills up orders without slippage or price gaps. Therefore, your profit calculation might not go inline with the projected returns of the demo account.
Wider Spreads – Sometimes, brokers tend to impress traders by charging tight spreads in a demo account. However, spreads can significantly vary in real market conditions. Learn more article 10 Basics of Currency Trading.