Demo trading accounts are used by traders to get acquainted with a brokerage's platform and markets, as well as test various trading methods, using virtual money and a risk-free environment. That is the primary distinction between a live trading account and a demo one. A demo account simply allows you to get a feel for global financial markets and gives you the opportunity to experiment with virtual money without risking your own funds.
Demo account trading, on the other hand, may assist you in learning market forces and developing your own trading approach and trading style. However, you don't want to trade on a demo account for too long. So, the last step is to forget about demo trading and your "supposed" success as a demo trader, and go on to the real world.
Trading live is an entirely different animal. It's like the difference between sparring with your brother and fighting Mike Tyson.
The major distinction between trading with your live account and a demo account is trading psychology. Emotions are the most important difference between social trading and systematic trading, according to nearly 90% of traders. Don't be surprised if you make a large profit on a demo account the first day. That is how it is: the trading market is a mental game.
When real markets are taken into account, the significance of trading on a demo account is considerably lower. When you start employing live accounts, everything shifts. Even if your demo trading is extremely tight, you won't be able to anticipate the emotion that comes with real money on the line.
It all comes down to establishing a solid foundation and focusing on and enhancing your trading procedures.
When you create a live account with Global Prime, you'll get immediate access to a live version of our trading platforms, MT4 and TraderEvolution. You can also use your TraderEvolution account to trade via TradingView charts!
With a Global Prime live trading account, you’ll gain access to over 1,000s markets, including:
Electronic Communications Networks or ‘ECNs’ are off-exchange execution venues which allow market participants to trade with a range of counterparties anonymously. They are the main trading venues for OTC markets such as Foreign Exchange and Metals.
This basically means ECNs provide the technology and venue for price makers aka ‘liquidity providers’ to distribute their liquidity. Price takers (traders) can see these prices and execute trades against them. The ECN is therefore responsible for prices/quotes and the execution of orders.
See our ECN page for a detailed overview of the Global Prime ECN offering.
Global Prime keeps it simple with one account type - The ECN Account. It features the following:
Global Prime offers a true ECN experience. We can prove this on everyone of your trades with automated trade receipts. These show the bank who filled your trade. Find more information here.
All client trades, and therefore market risk, is passed on to Global Primes liquidity providers. Our A-book model means that your trades are not internalised, rather they are filled by our liquidity providers. This means we do not profit from your trading losses.
How can we verify this? The transparency provided by our world's first ‘automated trade receipts’ enable clients to query vital trade information on every trade, directly from within the client portal. This feature enables you to see the full order book at the time of your trade as well as which liquidity provider filled your trade.
All strategies are welcome at Global Prime. We don’t have restrictions on trading and we don’t interfere with your trades. We do however stress the importance of risk management and will generally only ever contact a trader when their risk is too high.
Our new lowest fee model. Trade EURUSD from 0.4 pips round turn with no added commissions
Spreads + Commission
Traditional ECN fee model with spreads from 0.0 pips and $7/lot commission.
|Spread From||0.4 Pips||0.0 Pips|
|Commission||$0||$7 per round turn lot|
|Platforms||MT4, TraderEvolution, TradingView||MT4, TraderEvolution, TradingView|
|Server Location||New York||New York|
|Execution speeds from||1ms||1ms|
|Micro lot trading(0.01)|
|100+ Markets||100+ Markets FX, Indices, Commodities, Digital Currencies, Shares, Bonds||100+ Markets FX, Indices, Commodities, Digital Currencies, Shares, Bonds|
|One Click Trading|
|Trading Styles Allowed||All||All|
|Order Distance Restriction||None||None|
|Suitable For||All Traders||All Traders|
Deposit & Withdrawal
Fund your account with over 15+ instant deposit methods. AUD, EUR, GBP, JPY, SGD or USD - save on conversions!
Trade directly from charts using your TraderEvolution account - easy!