A demo trading account, trading simulator, or paper trading account is simply another name for the same thing.

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Please note that, on a demo account, orders are executed in a simulated environment. Although demo pricing is designed to closely reflect live market conditions, execution is simulated and typically does not account for real market factors such as available liquidity, market impact, or execution delays. Whilst on a live account, orders are executed in the live market against available liquidity. As a result, execution may be affected by factors including:  

• Bid/ask spread fluctuations.  

• Slippage (both positive and negative), particularly during volatile market conditions.  

• Market liquidity at the time the order is executed.  

• Execution latency resulting from market conditions and order routing.  

A demo account will enable you to view the range of financial markets available to you with Global Prime and get used to how they behave. You’ll be able to select the markets you want to keep an eye on and set alerts so you can react instantly to any price volatility. The demo account will also help you navigate, read and analyse price charts, and monitor open positions.

We are committed to transparency, and it is our mission to ensure that you are prepared for whatever your trading journey might lead you to. Just like anything else, demo trading has its drawbacks. Among them are the following:

You will not acquire the healthy anxiety you'll need to be a success in trading.

Even if you made money with a demo account, you won't necessarily be a skilled trader. When losses mean nothing in a controlled setting, your emotions around them and even earnings have little impact on your decisions. You must have practical experience in the real world to grasp and control the psychological aspect of trading.

You can become complacent or develop bad habits.

Demo accounts might give the impression that you have a lot of expertise. Traders find it difficult to master risk effectively with a demo account. The problem with fake money is that it also encourages them to take more risks than they would with actual cash. This way of trading might lead to undesirable financial behaviours.

You may not realise how you will really act when you're trading with your own money.

Cut your losses quickly and let your profits run! This is true, but in most cases, it's difficult to put into action with a real account. It's not easy to discover ideal entry points when trading but knowing when to get out is the most difficult part. When it comes to taking gains (which might lead to profits), it's a breeze, but when it comes time to take losses (which may lead to greater gains), things become more complicated.

In no way do we discourage you from creating a demo account! It is the best way to practice trading risk-free. Understanding the existing drawbacks will keep you safe from making mistakes along the way.

You can find the download link for MT4 in the GP Hub under the Platforms tab or underneath the “create an account” button on the MT4 Desktop.