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Demo trading platform

Discussion in 'Beginner's Lounge' started by simonhodgson, Jul 24, 2016.

  1. simonhodgson

    simonhodgson

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    Hi all,
    This is an awesome forum, such great info And knowledgeable people (which Im hoping to tap into)

    Im looking to find a good demo platform to test my trading beginner skills.

    From what I can see, and please correct me if I am wrong, but Bell Direct and CMC seem to be the current standouts for Aussie brokers with reasonable fees.

    Do they both have demo accounts you can use? I havent been able to quickly uncover if they do.

    Guidance would be most appreciated!

    Cheers
     
  2. grah33

    grah33

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    i know IB has a demo account and very cheap brokerage but be aware of the risk as it's from the US. it's popular though



    a great way to demo is to manually backtest your strategy. e.g. i've manually traded my share trading strategy while the market was both ranging and bulling. it was treading water while it was ranging, and bring profits while it was bulling. you'll go through loads of charts this way , without waiting for months to turn by, and you'll learn part of the craft. but be careful you don't cheat when you use this method (don't let yourself see into the future, but one tick at a time)
     
  3. simonhodgson

    simonhodgson

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    Thankyou!

    Im just looking for a way to do that. Ive got MT4 for currency, which is helping to back test currency, just need to find a way to do that on stock.

    Any suggestions?

    Cheers
     
  4. Manchee_97

    Manchee_97

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    Hi guys,

    I’ve been looking for a Aussie paper trading platform for stocks but couldn’t find any if you guys know a website please let me know

    Appreciate the help.

    Thanks!
     
  5. Zaxon

    Zaxon The voice of reason

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    Like a maple tree?

    Based on what I see, CMC does have a demo account, but it's only for CFDs, not shares.

    There is the ASX stock market game.
     
  6. Manchee_97

    Manchee_97

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    Thanks Simon appreciate the quick reply. I’ve looked into CMC markets and you are correct. I’ve been thinking to start a live account with a small amounts in it as I couldn’t find a demo platform.

    What amount would you recommend me to invest and what are the sizes of minimum trade parcels like?

    Thanks in advance!
     
  7. Zaxon

    Zaxon The voice of reason

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    Plus monthly fees if you don't meet their minimums.

    Capture.PNG
     
  8. Zaxon

    Zaxon The voice of reason

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    My name isn't Simon. But let's move on.

    Trading minimums are the ASX minimum, which is $500 per share, unless you already own some shares.

    As far as the recommended amount, in the perfect world, that would be the amount that minimized the % commission you pay. Which is around 11k. But if you don't have that kind of money, then a minimum of $1000 or $2000 per share perhaps. Do the commission math, and see what seems reasonable to you as a minimum.

    Capture.PNG
    CMC Markets does have a slightly dodgy website, in that most of their results are cached, and sometimes they get 'stuck' and don't update for a while. It's a "known problem" they say they will fix. If you only check your results once or twice a day, that's fine. If you're wanting timely data...you might want to factor that in.
     
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