Trading account types
Doto users get access to two types of accounts — real and demo. The major difference between them is that you use virtual money on the demo account, but real funds on the real account.
Demo account trading
The demo account offers a safe environment for Doto users to get some first-hand experience trading on the real market. With the demo account, traders can get a feel for the market and try out new strategies, which gives them an understanding of what trading really looks like. Available immediately after registration, the demo account is free to use and mimics the mechanics of a real account while providing real-time market statistics and movements.
The demo account can be used for:
- Understanding the platform
- Practicing your trading skills
- Testing a strategy
- Trading in a risk-free environment
- Seeing what the spread will look like
You can create multiple demo accounts, and if you want to reset the virtual funds on any one of them, you can do so via My accounts -> Demo -> Set balance.
Note that profits or losses made from trading on the demo account are in a virtual currency that holds no real value. Consider utilizing a real account if you wish to engage in trading with actual funds, enabling you to retain any profits or losses incurred during the process.
Real account trading
A real account is similar to the demo account in that it looks the same and has all the same features for trading financial instruments, but the funds used to make each trade is real money that has been deposited to the account prior to trading. On the demo account, you can’t replicate the full range of emotions and decision-making that a trader is faced with when trading real money.
The real account is a live trading environment where the account holder is in full control of the trades and the funds deposited on their account. Any profit and losses generated by trades made on this account are permanent and cannot be undone. You can create multiple real accounts to suit different trading strategies.
In the case that you want to stop using one of your trading accounts, you can archive it.
- Archived accounts are excluded from the Real and Demo tabs in My accounts
- Archived accounts are not listed on the Deposit, Trade, Withdraw and Transfer screens
You can always restore any of your archived accounts by going to your Archived accounts tab and clicking Restore next to the account you wish to unarchive.