OANDAs demo accounts do not expire, so you can practice for as long as you want.

Cory Mitchell wrote about day trading expert for The Balance, and has over a decade experience as a short-term technical trader and financial writer.

Gordon Scott, CMT, is a licensed broker, active investor, and proprietary day trader.

He has provided education to individual traders and investors for over 20 years.

He formerly served as the Managing Director of the CMT Program for the CMT Association.

Making a profit through day-trading requires practice as much as it does knowledge.

A day-trading simulator, or a demo account, might not mimic all of the pressures and risks that come with having real money on the line, but it can still be valuable for learning and honing trading strategies.

Using a day-trading simulator is a way to develop confidence in your trading decisions; you can trade without fearing mistakes.

Simulators enable you to monitor market conditions and explore different charting tools and indicators.

You can also familiarize yourself with the steps involved in entering, reviewing, and executing your trades as well as practice using stop-loss and limit orders as part of your risk-management strategy.

Best Day Trading Platform Free Demo Accounts

Whether you day-trade the foreign exchange market (forex), stocks, or futures, there are free demo accounts available for you to try.

Each company that offers a simulator uses a different type of software called a trading platform.

Taking the time to explore how each platform functions will give you the chance to see which one of them best suits your trading style.

NinjaTrader is a low-cost futures and forex trading platform with upgrade options.

Best Day Trading Platform Download The Software

To start, you can download the software for free for trade simulation, advanced charting, strategy backtesting, and other features.

The free software lets users simulate live day-trading of futures and currencies at their leisure.

There is also an option to download data from prior days so you can practice trading with the market activity from that period.

Commissions are 29 cents per micro contract through NinjaTrader for otherwise-free accounts.

Paying customers can lease the platform and receive premium Trader features such as automatic stop loss and profit target orders, one cancels the other (OCO) orders, and order entry hotkeys.

Those who choose to buy lifetime access to the platform receive Trader and Order Flow features, the latter of which includes a market depth map, a volume profile drawing tool, and the ability to chart volume-weighted average prices with standard deviations.

Leasing costs 720 a year in a single payment, 850 total in two semiannual payments of 425, or 900 total in four quarterly payments of 225.

Purchasing the platform outright costs 1,099 in a single payment or 1,316 in four monthly payments of 329.

Commissions for those who are leasing the platform are 19 cents per micro contract; for those who purchased the platform, theyre 9 cents.

There are several forex demo account providers to choose from, but for U.S.

OANDA offers a lot of flexibility and competitive spreads.

Best Day Trading Platform For Mac