Top Crypto Exchanges with Demo Account

Demo account or a demo terminal on the cryptocurrency exchange It is necessary for learning to trade, for training in trading, mastering new strategies and assets. The demo account is separated from the real terminal, operations on it are carried out by virtual coins. You don’t need to make any investments to be able to trade, but you need to register an account.

Rating of crypto-exchanges

In our rating of cryptocurrency exchanges with demo modes we can distinguish several.

Binance

С Binance (go online) now begins almost all reviews and ratings. A demo account on Binance (fig. 1) is available for trading in the futures trading section. This is the same trading terminal that is used for real trading, but with conditional 100k tokens USDT. To enter the demo account, the same account is used, which was registered for the oil futures trading.

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Binance trading platform is a classic Japanese candlestick chart, the upper part of which sets the traded pair, ticket settings, timeframe, switch to an even more complex chart TradingView. There are three moving lines with different periods on the chart, under the chart is a volume oscillator. On the left is the set of tools for the analysis. On the right, closer to the center, the chart is the Stock Market. Even more to the right are margin and limit settings. The Binance chart is complex, which is why you should work on it before you start real trading. The main means of calculation on Binance Coin (BNB) is an exchange token.

Top 3 best cryptocurrency exchanges: test their capabilities

OKEx

Next in our review – OKEx (go online), which belongs to one of the safest exchanges for trading, one of the leaders in ratings and reviews. On OKEX, trading in a test account is available to users who have a registered account from the main page, from the “Assets” section, at the bottom of the drop-down menu. Before you start training, you need to clarify what experience the user has (Fig. 2). In the most basic version, when the trader has no experience, he is first offered an overview of the functionality. It is possible to reject it and go straight to the training.

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The training account is a standard trading terminal for trading, on which the conditional 3 thousand dollars. U.S. DOLLARS. On the left side there is a simplified form of buying and selling assets, above it there is a designation of the traded pair, under it – transition to the real cryptocurrency trading. Closer to the center of the terminal is the stock market. The right side of the terminal is occupied by a complex chart with several indicators and oscillators. The preset timeframe is 15 minutes, but it is variable. The test account is fully functional, all settings are active and the simulated training is exactly the same as the real one, just not real money. It can be used for training or practicing strategies.

BitMEX

BitMEX (go online) – a regular contributor to lists of good exchanges, ratings and reviews. The login to the simulation terminal is separate, but the user can log in using the data that he registered. Calculations are made in XBT, the conditional sum on the training account is 0.01 XBT. On the left side of the service, you can find the order placement functionality. Market order, trailing stop, set stop loss and take profit level are available for selection. Here the process of trading with leverage is also set. At the very bottom is the overview of the contract information. The rest of the user account is occupied by the terminal.

At the top is a list of available cryptocurrency trading. On the left side of the trading terminal there is a book of orders, then – a chart with preset indicators, under it – a smaller chart of the market depth. Separately there is a slider of the last deals on the traded trading pair. It should be noted, when moving to real trading, that the address for deposit can only be in XBT, to trade, you should deposit your account only with this cryptocurrency, any other will be lost when attempting a transaction.

Currency.com

Next in the ranking are. Currency (go online). Here a demo account for trading is available from the main page. But to do this, you will have to register, all you have to do is specify your email and password. After that the user can choose whether to demo or complete a full registration.

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The demo terminal (Fig. 3) differs in appearance from the terminals of most other services. The most prominent button at the top is the transition to the real trading terminal. There is also a notional amount available for training – 1 bitcoin. In the far right part – the basic functionality. Then – watchlist (observation overview) and the button to edit this section. In the huge watchlist – a list of markets, a list of cryptocurrencies, a list of fiat currencies, commodities, stocks, ETFs and more. Next is a service of simplified buying and selling of assets. At the bottom, there is an asset chart with a relatively small selection of instruments. It is possible to expand the chart to the entire monitor. The chart type, indicators, timeframe and other – in the upper part of the chart.

ByBit

Exchanges with a demo account include ByBit (go online), also a stable participant of all kinds of ratings and reviews. When registering to start trading the user must first specify that he is a non-resident and “citizen” of some countries. When you receive an email code, you are given the opportunity to choose whether to transfer or buy cryptocurrency. If there are no plans to immediately start real trading, you can go to the main page at the appropriate link and explore the terminal.

Demo account is designed so that its deposit is possible with a test cryptocurrency. To open it in the terminal, go to “Assets”, choose a coin by clicking on “Deposit” and then follow the instructions. After successfully depositing test coins, start training. The terminal on Bybit is standard: the chart is on the left side of the terminal, you can “pull” the tools from the bottom corner of this part of the terminal. The chart is a Japanese candlesticks, the MA and the volume oscillator are plotted on the chart. At the top of the chart is the traded pair, the price of the underlying asset, and an overview of the asset. The stock market on Bybit is on the right side of the chart, the buy and sell service is on the right side of the chart.

Deribit

Not very well known yet, but already considered a good exchange Deribit (go online), which more and more often appears in reviews and ratings, is mainly aimed at working with derivatives, i.e. derivative contracts – in this area it is at the top of the ratings. A demo account is placed on the site. To learn how to trade, you can go to the terminal without registration by clicking the “Start Trading” button.

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But in order to conduct test transactions, you must register. On the left side of the chart (Fig. 4), where the buy and sell service is located, you can place a market or limit order, set the leverage for margin trading, and view an overview of the contract. Directly above the chart is the financial overview of the user’s account. The order book is placed on the left side of the chart, and the list of recent trades – on the right. The chart is Japanese candlesticks; interestingly, there are a lot of indicators offered for a relatively small chart, which can make learning easier. It is also possible to choose the type of chart from several. A conditional 10 bitcoins are offered for training.

Free2ex

Exchange Free2ex, the next in our review-rating, provides a test account after registration, which can not be called convenient, as well as the navigation on the terminal and in general the design, which makes it difficult to work. Perhaps, this is why it rarely appears in the ratings. But in the ranking of most obscure exchanges it may be one of the best. You can open a test account on the site, the button is approximately in the center at the top of the terminal. The terminal may seem confusing. But in fact it just has a stock market glass placed in front of the buy/sell service, followed by a chart.

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Test trading can be used for both regular trading, with limits, and for margin trading. To switch to the margin terminal, you need to click the button above the stock market. But before you trade, you need to spend time adapting to the peculiar terminal of this exchange.

BTC-Alpha

Another popular and considered good cryptocurrency exchange in Russian (and several more) with a demo account BTC-Alpha (go online). The terminal is available without registration, but this is only an overview, and to practice trading, you have to register. An email with activation will be sent to the email address of the newly registered user, after which the user will receive 1 Bitcoin (VTS) and 10,000 virtual USDT. After that you need to re-enter the site, a PIN-code will come to e-mail, after which the created account is finally activated, but it is a terminal for real trading, and you need to switch to the demo trading mode with the corresponding button.

BTC-Alpha has a useful option – a detailed overview of the test mode, why it’s needed and how to work on it. The exchange offers a path from beginner to trader on demo pairs, they are offered tasks for extra coins. An overview of the coins being traded is placed on the left side and sell orders are placed directly below it. Japanese candlestick chart with sufficient tools for trading – in the center of the terminal. On the right is the history of the last trades and immediately below it – buy orders. Buy/sell service under the chart. Navigation is not too convenient, but it is possible to adapt.

StormGain

To switch to a training account StormGain (online), you need to register, which will require confirming email and phone number, but this is an exchange without verification with home ownership documents, as it is now fashionable. Switch to the account in the drop-down menu next to the value of the amount contained in the account (Fig. 6).

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On the account – conditional 50 thousand USDT, the terminal is standard, but somewhat simplified and peculiarly located. Chart – on the left side of the trading terminal, above it – quotations of cryptocurrencies, stock market – in the middle of the trading terminal. Several more exchanges can be added to the rating, but those listed are considered the best in terms of demo. Perhaps they will be in other similar ratings of trading.

Advantages and disadvantages of demo mode

In one way or another, the largest crypto trading services, the leaders of the ratings, have demo accounts for training. This can be clarified in the rating review or in the review of the exchange itself. The main advantage of a demo account is the absence of any costs. To practice how to trade cryptocurrency on the exchange, you only need to register an account and get a notional amount of coins. A demo account on an exchange without registration is difficult to find, but they do exist. It is difficult to overestimate the help of such an account.

A demo account can be used to review and learn new strategies, for training, not just for beginner traders, but, for example, when a trader transitions from cryptocurrencies to cryptocurrency derivatives, a growing, but not simple asset that requires time to master in order to trade successfully. When switching to a new cryptocurrency exchange in 2021 or any other year, you should choose it from the top of the rankings. An exchange with a demo account is in any case preferable to one without one. You can use our rating for a choice. For learning margin trading, well-organized test trading is #1 in the conditional ranking of training methods.

Insufficient practice of trading with leverage can lead to instant loss of the first deposit on the real chart. Beginner traders are recommended to practice in the demo terminal as long as necessary for complete clarity in carrying out all operations. The test account has a number of disadvantages, but the first in this conditional rating stems from the main advantage – the unrealistic operation. Failures in the implementation of strategies in demo-trading cannot have any consequences for the trader’s deposit. Lack of feeling and understanding of risk, the main trader’s skill, can lead to the deposit loss after the transition to the trading terminal in a situation of psychological pressure of losses.