BlackBull Markets Demo Account Editor’s Verdict
BlackBull Markets has grown into one of the most competitive brokers industry-wide, offering demanding traders a cutting-edge infrastructure with technology at its core. High leverage, deep liquidity pools, low-latency trading, VPS hosting, API trading, STP, ECN, and NDD order processing rank among the core tools providing algorithmic traders and scalpers an edge. Copy traders benefit from embedded MT4/MT5 solutions, ZuluTrade and Myfxbook Autotrade. Algorithmic and copy trading requires a demo account to bug-fix solutions and evaluate strategies.
Our BlackBull Markets demo account review will discuss how to use it, its pros and cons, explain the demo trap to beginners, and cover the differences between demo and live trading. In addition, you may also read our up-to-date Blackbull Markets Review.
Main Features of the BlackBull Markets Demo Account
BlackBull Markets offer the MT4/MT5 trading platforms, upgraded via the Autochartist plugin and access to the TradingView community, and both have integrated demo account registration set-ups. Traders must fill out a brief online application form to get their BlackBull Markets demo account without opening a live one, and the default demo balance is $100,000. Demo trading simulates live trading but does not expose users to trading psychology.
Demo accounts cater to beginner traders who want to learn the basics of trading, traders looking to “road test” a broker’s trading platform and interface, algorithmic traders who bug-fix solutions and test strategies, seasoned traders who adjust their trading strategies and compare metrics and copy traders evaluating signal providers. The BlackBull Markets demo account comes with a default restriction of 30 days, which will probably be long enough for most potential customers but may be too short a period for many. Anyone wishing to use a demo account here for longer than 30 days should contact BlackBull Markets customer support and ask for an extension, or just try to open a new one after the old demo account expires.
BlackBull Markets Demo Account Overview at a Glance
BlackBull Markets Demo Account
Availability of a BlackBull Markets demo account
BlackBull Markets demo account duration
30 days (BlackBull Markets may extend the period in request on a case-by-case basis)
BlackBull Markets demo platforms
BlackBull Markets demo account options
ECN Standard, ECN Prime
Algorithmic trading (EAs) enabled
BlackBull Markets demo account balance
$100K at sign-up (BlackBull Markets support may lower it)
Number of BlackBull Markets demo accounts
Unlimited (BlackBull Markets lists no limits for its demo accounts)
How to Open a BlackBull Markets Demo Account: A Step-by-Step Procedure
An online application form provides traders access to their BlackBull Markets demo account. Follow our step-by-step procedure below, and once you complete the final step, you can log into your BlackBull Markets demo account and start using it.
Get access to your BlackBull Markets demo account by following the below steps:
1. Visit the BlackBull Markets website, and on the homepage, click the blue Try a Free Demo button. You can also navigate to the account comparison and associated sub-pages, which include links to open a BlackBull Markets demo account.
2. The online application form only asks for your e-mail address input. Alternatively, traders can use their Google or Facebook IDs to complete this step. Unlike some brokers, BlackBull Markets does not require traders to open a live trading account.
3. Following the successful BlackBull Markets demo account registration, traders will receive their login details via e-mail and can download their preferred trading platform.
4. The default BlackBull Markets demo account balance is $100,000. Should the integrated MT4/MT5 demo registration be disabled, traders can contact the BlackBull Markets customer support team to request a lower balance for a more authentic demo experience.
5. Open the trading platform and enter the BlackBull Markets demo account details BlackBull Markets sent to you by e-mail.
- Use the account type, account base currency, leverage, and demo account balance that you plan for live trading.
Differences Between Live and Demo Accounts with BlackBull Markets
Before highlighting the few but essential differences between the BlackBull Markets demo and live accounts, let us summarize who benefits from demo trading.
The following four groups should consider a BlackBull Markets demo account:
- Potential clients wishing to road test the broker’s user interface and/or platforms
- Algorithmic traders who bug-fix trading solutions and test various strategies
- Seasoned traders who want to modify existing trading strategies or experiment with new settings
- Copy traders who seek to evaluate signal providers and EAs
Forex trading is a high-skilled profession that beginners cannot fully learn in a simulation. While a demo account mimics a live trading account, it cannot simulate exposure to risk and the resulting trading psychology, which successful traders have learned to cope with. Beginners can only fully earn how to trade by risking real money, which a demo account cannot simulate, as no trade placement occurs with real-life consequences.
Therefore, beginner traders can fall victim to the demo trap. They successfully manage a demo account for several months, decide to go live, and then join the 75% to 90%+ of traders who fail. Demo trading can create a false sense of security and overconfidence, as it does not expose traders to the core aspects of trading.
How to Best Use your BlackBull Markets Demo Account
Below are some tips to maximize the benefits of the BlackBull Markets demo account.
- Select the account type, account base currency, leverage, and demo account balance you plan on using in your live trading account.
- Use lot sizes and risk management suitable for the demo account balance and avoid overtrading.
- Do not replenish demo trading balances, even if you can afford it in live trading accounts, as it can promote reckless trading.
- Understand that the lack of exposure to trading psychology and trade placement with consequences negates much of the simulation value of a demo account.
- Ask for an extension of the 30-day trial period.
- Use the BlackBull Markets demo account to test EAs before buying them or evaluate signal providers before subscribing and compare performances, metrics, and risk profiles.
- Stay active in your demo account to avoid closure and losing all relevant trade data.
- Download detailed trading statements, which include all the trade data and basic performance analytics.
Pros and Cons of the BlackBull Markets Demo Account H2
Before opening a BlackBull Markets demo account, traders should evaluate the pros and cons. This will allow them to understand what they get and how to use it.
The pros of the BlackBull Markets demo account are:
- BlackBull Markets does not list a limit on number of demo accounts per person
- Traders can use, test, and bug-fix algorithmic trading solutions
- Demo accounts are available for MT4/MT5 trading platforms using the ECN Standard and ECN Prime accounts
- Easy online registration without the need to open a live account
The cons of the BlackBull Markets demo account are:
- A 30-day time limit by default
- A high $100,000 demo account balance upon registration
- Beginners mistake the BlackBull Markets demo account for an educational tool
- No exposure to trading psychology, creating a false sense of security and accomplishment, resulting in the demo trap
- No real trade placement means traders cannot gain trading experience
- Demo accounts can promote reckless trading and foster unrealistic expectations
Algorithmic traders, seasoned traders, and copy traders require a demo account to bug-fix trading solutions, test new ones, and evaluate EAs and signal providers. Potential clients require a demo account to road test a new broker and its trading platforms. The BlackBull Markets demo account caters to these needs but has a high default demo account balance of $100,000, and a 30-day time limit. However, these factors can be overcome.
Beginner traders should avoid the demo trap by understanding that the lack of exposure real risk can negate a demo account’s value as a simulation, although any demo account can give educational value. It is impossible to fully learn Forex trading with a demo account, and traders should consider the BlackBull Markets ECN Standard account, which has no minimum deposit requirement, as an important step following mastery of demo trading to complete the educational process.
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