Simulation Account Practical Guide: In-Depth Comparison of Five Trading Platforms and Learning Path

Why Does Every Trader Need a Demo Account?

The essence of trading is making decisions amid uncertainty. And a demo account is the place that allows you to accumulate experience in a “safe sandbox.”

Imagine: testing strategies in the real market with €50,000 virtual funds. You can make mistakes, learn, adjust—but the numbers in the account never truly disappear. That’s the magic of a demo account.

Whether you’re a demokonto aktien (stock trading demo), forex trader, crypto speculator, or CFD operator, a fully functional demo account should cover the following points:

Core Learning Scenarios:

• How to correctly open and close positions?
• What are the real impacts of leverage, spreads, and commissions?
• How to set stop-loss and take-profit orders?
• How to identify candlestick charts, trendlines, key support and resistance levels?
• Are indicators like RSI, MACD, Bollinger Bands really useful?

But the most critical learning—something that cannot be measured in money—is emotional management. Staying calm when losing money, not overconfidence when making profits. Developing this mindset, a demo account is the best practice ground.

Trader Self-Assessment: Which Type Do You Belong To?

Before choosing a demo account, ask yourself three questions:

1. Mobile Priority vs Desktop Depth

Some place quick orders on their phones on the subway; others perform in-depth analysis on a three-screen setup. Both approaches work, but require completely different tools.

App-focused traders need a responsive, fully functional mobile app. Order types, real-time quotes, technical indicators—all should operate smoothly on mobile. Mitrade excels here.

Desktop analysts need a feature-rich workstation. Multiple monitoring windows, extensive indicator libraries, customizable layouts—these are standard. MetaTrader or Thinkorswim can meet these needs.

2. Fast Execution vs Strategy Optimization

Short-term traders care about real-time response speed and a clean interface. Those testing complex strategies or doing backtests need data density and analysis depth.

3. Market Breadth vs Professional Depth

Some want a “one-stop” experience across all asset classes (stocks, forex, commodities, crypto, indices). Others focus on a niche for an extreme experience. This preference is important when selecting a demo account.

In-Depth Review of Five Major Demo Platforms

Mitrade: An All-Round Platform with €50,000 Starting Capital

Platform Overview

Mitrade has attracted over 3 million global users. Its demo account offers €50,000 virtual funds, covering forex, crude oil, precious metals, global indices (S&P 500, Nasdaq), stocks, and cryptocurrencies. Notably: demokonto aktien (stock trading demo) is fully supported here, with no compromises.

The platform is regulated by CySEC (license 438/23), as well as ASIC and CIMA in the Caymans.

Core Advantages

• Highest starting capital (€50,000), suitable for large-scale strategy testing
• Proprietary trading platform, simple interface but moderate information density
• Immediate start without complex registration
• Complete risk management tools (trailing stops, pending orders)
• Transparent fees, no hidden costs

Limitations

• Does not support MetaTrader 4/5
• No social trading or copy trading features
• Educational resources are basic

Ideal for: Beginners to intermediate traders, those seeking quick start with ample virtual funds

XTB: A Steady Choice from a Long-Established European Firm

Platform Overview

Founded in 2002, XTB is a heavyweight in European forex and CFD trading. Its proprietary xStation 5 supports both web and mobile versions. The demo account starts with €10,000.

Regulated jointly by Poland’s KNF and Germany’s BaFin, it’s a reassuring choice for EU traders.

Core Advantages

• Long history, high market recognition
• Modern xStation 5 interface with comprehensive analysis tools
• Covers forex, indices, commodities, stocks, ETFs, cryptocurrencies
• Regulated by authoritative bodies

Limitations

• Virtual funds only €10,000 (significantly less than Mitrade)
• Inactivity fee after 365 days without trading
• Withdrawal fees for amounts below €200
• Also does not support MetaTrader 4

Ideal for: EU traders prioritizing regulation and quick onboarding with less virtual capital

Capital.com: Modern Interface Meets Advanced Tools

Platform Overview

Known for its modern UI and integrated tools. Available via web and dedicated app. Notably, it integrates MetaTrader 4 and TradingView, with over 75 technical indicators.

Regulated by CySEC and FCA, its compliance is impeccable.

Core Advantages

• Cutting-edge interface, user-friendly
• MT4 and TradingView integration (for professional analysis)
• Real-time data and extensive indicator library
• AI-assisted market analysis tools

Limitations

• Demo version features are somewhat simplified
• Minimum deposit via bank transfer is €250
• Does not support MetaTrader 5
• Proprietary platform lacks multi-chart functionality

Ideal for: Traders seeking a modern experience, wanting to use TradingView and MT4

Skilling: A Rising Power Since 2019

Platform Overview

A young platform (founded in 2019) gaining recognition for user-friendliness and efficient execution. Demo funds €10,000, supporting proprietary platform, MetaTrader 4, and cTrader.

Regulated by CySEC + Investor Compensation Fund (ICF), ensuring safety.

Core Advantages

• Young but well-managed operation
• Over 1,000 trading tools
• Multiple platform options (proprietary + MT4 + cTrader)
• First deposit/withdrawal free, subsequent €12.5 per transaction

Limitations

• Short company history, less long-term market validation
• Multiple withdrawals incur fees
• Educational resources are limited for beginners
• Minimum deposit €100 (a barrier for absolute beginners)

Ideal for: Traders with some experience, seeking platform diversity

Plus500: An Old Hand in CFD Trading

Platform Overview

An Israeli company listed in London for over a decade, a veteran in CFD. Its demo offers €40,000, accessible via web and app.

Regulated by FCA and CySEC, ensuring trading security.

Core Advantages

• Deep brand history, high market reputation
• €40,000 virtual funds are ample
• Real-time quotes, market news, multiple chart types, basic indicators
• First 5 deposits/withdrawals free

Limitations

• No support for external platforms (no MT4/5)
• Inactivity fee after 3 months of no trading
• Limited educational resources for beginners
• Web-only customer support, no phone support

Ideal for: Experienced CFD traders, conservative investors valuing platform longevity

How to Properly Use a Demo Account

Step 1: Register and Launch (Under 2 Minutes)

Choose your platform, go to registration. Usually just need to:

1. Select trading country/region
2. Enter email
3. Click activation link in confirmation email

Done. Your virtual trading journey begins.

Step 2: Understand the Four Core Areas of the Interface

Using Mitrade as an example, breaking down a typical trading interface:

Left Sidebar (Blue Arrow) - Market Watch

Displays all assets you follow: gold, EUR/USD, NAS100, etc. Next to each, real-time price change and mini trend chart.

Function: Quickly grasp market movements, switch focus swiftly.

Central Chart Area (Purple Arrow) - Technical Analysis Stage

The heart of the platform. Candlestick, line, or bar charts—your choice. Also where you add indicators, draw trendlines, mark support/resistance.

Tip: In demo mode, freely draw, test indicators—best way to learn. No real money pressure, so you can observe and think more calmly.

Top Right Corner (Yellow Arrow) - Real-Time Quotes Overview

Shows current prices, daily high/low, open/close, change percentage. Quickly understand market status without detailed charts.

Right Operation Area (Red Arrow) - Position Settings

Where you set leverage, lot size, take-profit/stop-loss. For example:

• Leverage 2x: €1,000 controls €2,000 position
• Lot size 0.01: minimum operation unit
• Stop-loss/Take-profit: trigger prices for automatic close

Most important learning point: Leverage is not a magic wand to amplify gains; it also magnifies losses. Fully understand this in demo.

Step 3: Intro to Technical Indicators - RSI Example

Many beginners find indicators confusing. Let’s demonstrate with RSI (Relative Strength Index):

What is RSI?

It’s a “momentum meter” measuring price change speed. Fluctuates between 0-100:

• Above 70: Overbought, rising momentum weakens, possible reversal down
• Below 30: Oversold, falling too much, possible rebound up

How to add RSI in demo:

1. Open chart
2. Find “Indicators” button
3. Search and select “RSI”
4. It appears below the chart

How to interpret RSI:

Watch RSI oscillate; you’ll gradually understand: it reflects market sentiment, not a crystal ball. Combine with candlestick patterns for interesting trading opportunities.

Advanced tip:

Test multiple indicators in combination: RSI + Bollinger Bands, MACD + Moving Averages. Observe how they confirm or contradict each other. This intuitive understanding beats reading hundreds of articles.

Roadmap from Beginner to Entry-Level Trader

Stage 1: Observation & Learning (Weeks 1-2)

• Daily review of chosen assets, observe how prices react to news/data
• Try identifying trends, support, and resistance on charts
• Add 3-5 indicators of interest, watch their behavior

Stage 2: Demo Trading (Weeks 3-6)

• Start placing orders—deliberately make small mistakes to learn
• Set stop-loss consciously, feel the importance of risk management
• Record reasons, execution, and outcomes of each trade

Stage 3: Strategy Formation (Week 7+)

• Analyze your trading logs, find patterns of success and failure
• Develop a repeatable trading rule set
• Only consider real trading when your demo account is stably profitable

Practical Checklist for Choosing a Demo Account

Common Pitfalls in Demo Accounts and How to Avoid Them

Pitfall 1: Time Limits

Many platforms deactivate demo accounts after 30-90 days. If you’re learning long-term strategies, this is frustrating.

Solution: Choose Mitrade or Capital.com for unlimited demo accounts, or be prepared to re-register periodically.

Pitfall 2: Feature Restrictions

Demo accounts may lack full tools or indicator libraries. When upgrading to real accounts, you might realize you didn’t fully explore these tools.

Solution: Ask beforehand which features are unavailable in demo mode.

Pitfall 3: Spread and Cost Authenticity

Some platforms’ demo spreads are tighter than real accounts, creating false profit expectations.

Solution: Confirm that demo spreads match real spreads.

Pitfall 4: Insufficient Virtual Funds

€10,000 virtual funds to test a €1,500 position—risk configuration differs greatly from real account with only €300.

Solution: Choose platforms with ample virtual funds (Mitrade’s €50,000 or Plus500’s €40,000 are good options).

Final Words: Demo Is Not Real

A demo account is an excellent learning tool, but it has a fundamental difference: no real psychological pressure.

When the account is virtual, watching €5,000 evaporate can keep you calm; but with real funds, the same loss can lead to irrational decisions.

So, leverage the advantages of demo accounts:

• Fearlessly try new strategies
• Calmly analyze market movements
• Build and test your trading discipline
• Develop your trading philosophy in demokonto aktien or other markets

Only when you can consistently execute your strategy in demo should you consider switching to real trading. The market is always there; it won’t reward you for better preparation, but it will punish you for lack of it.

Start your demo trading journey—use €50,000 virtual funds, a completely risk-free environment, and unlimited learning opportunities.