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What is a demo trading account?
A demo account is a simulated market environment offered by a trading provider that aims to recreate the experience of ‘real’ trading as closely as possible. This is so that you can get a feel for how different products and financial markets work without the risk of losing any money, so you can explore and experiment with confidence.
When you open a demo account with IG, you’ll be given immediate access to a version of our online platform, along with a pre-set balance of $20,000 in virtual funds to practise with. (Interesting that your position was $15k, possibly so you can keep adding shorts as you say????)
While much of the functionality of the live platform features in the demo, there are key differences to be aware of, including (but not limited to):
- Trades made through the demo account will not be subject to slippage, interest and dividend adjustments, or out-of-hours price movements.
- (Trent this explains why your position was not stopped out the other day when I asked if you were stopped out on open. May also explain why you can't provide us detail on the daily fees charged to hold a never ending short like the never ending story. This wouldn't be cheap on these products).
- Trades may be rejected if you have insufficient funds to open them, but, unlike on a live account, will never be rejected on the grounds of size or price
- You will not be charged for chart packages on a demo account
- Trades will not be closed if you have insufficient funds to cover margin and running losses, which can happen on a live account
- (This is an interesting point again and will explain how you can hold a short with a leveraged CFD whilst Gold has made a move in excess of $100 since establishing it. My experience from clients who have used CFD's is that they are in and out of trades, often on a daily basis if best a couple of days as any price movement amplifies losses or gains)
This is by no means an exhaustive list, and therefore opening a live account we recommend you read the information available on our website as well as the Customer Agreement to ensure that you are aware of the features of a live account.
I think you should read this paragraph again and again to become familiar with how dangerous holding a CFD for months is. I don't care what you post here, you ain't fooling me!!!
I believe dabble may be on the same page on this and another user who requested your open interest trade confirmations???
