A Live KOT4X Account Will Open Up A New World Full Of Possibilities
What is a Demo Account?
Demo accounts are a great way to practice and get used to the financial markets. These accounts provide a realistic environment without risking any capital. When opening a KOT4X demo account, you will be asked to choose the leverage you wish to trade with, and then virtual funds will be added to your account. These funds can be used to demo-trade, test your strategy, build your skills and get hands-on experience of the dynamic world of financial markets.
Who Should Demo-Trade?
If you are a beginner, then yes a demo account is the right way to go. That’s not to say all other traders can try demo either. Mid-level & experienced traders alike can benefit from trying new, unfamiliar strategies on their demo account. This way they can get used to new trends risk-free and better their execution for real market conditions.
What is the Key Difference in a Live & Demo Account?
Demo accounts do strongly resemble a real trading environment. However, there are some differences that traders should be aware of:
1. No Re-Quotes and Slippage
The nature of a demo account means it won’t have access to the real interbank market. For traders, this means they won’t experience lag or re-quotes when placing a trade. Markets are unpredictable and often move at a rapid pace and often the broker is unable to execute your order at a specified price. So, they will re-quote the order and you will then confirm a new price.
Similarly, slippage refers to the difference in the execution price and price specified in the market order. With slippage, your order will typically be executed at a less favorable price. So, because both slippage and re-quotes depend on the broker’s ability to execute a position on the interbank market they are unlikely to happen in a demo situation.
The price-feed in a demo account can differ significantly from that of a live account. With a live account, prices are known to fluctuate depending on the interaction between the buyer and seller of assets, but with a demo account, they are usually fixed. In the case of high market volatility, say after an important news release and you open a trade, spreads may widen and increase your trading costs.
When is the Right Time to Move?
There really is no right or wrong answer here! This will depend on each individual. Demo accounts will help the trader
- Get to know the broker
- Understand the different order types
- Back-test a trading strategy
When you feel like the time is right, make the move. However, don’t leave it too late because often you may try strategies and become familiar with certain ways and they can become obsolete or less effective in time. Besides the quicker you take the chance, the closer you are to real profits.
How Do You Start Trading On The Live Markets With KOT4X?
Easy! Follow our step-by-step guide below and open up to a world of possibilities in no time!
1. Sign up by clicking here.
2. Once registered, verify your identity to add more funding options. For more information, click here for Proof of Identity (POI) document and here for Proof of address (POA) document specifications.
3. Add funds to your KOT4X Wallet. For a step-by-step guide on how to deposit via Bitcoin click here.
5. Create a live Meta Trader account in a few seconds. Our guide can be read here.
6. Download and login to the Metatrader account: Click for Windows or Android product.
7. Finally, you just need to move funds from your wallet to your Metatrader account. How can you easily transfer funds in a few seconds? Read our guide here.