Table of contents:
- 1 The Lynx Broker Demo Account
- 1.1 Why is a demo account also useful with Lynx Broker?
- 1.2 What is important with the demo account?
- 1.3 The Lynx Broker demo account in detail
- 1.4 The stationary trading platform at Broker Lynx
- 1.5 Numerous expert tools as a supplement
- 1.6 Mobile trading platform also available
- 1.7 Conclusion on the demo account of the broker Lynx
The Lynx Broker Demo Account
More and more brokers are not only specialising in individual financial products, such as foreign exchange or CFDs, but also want to offer their customers the widest possible range. These online brokers include Lynx, which offers its customers the opportunity to trade a wide range of financial products via the appropriate trading platform. These include currency pairs, CFDs and various securities. Many customers therefore choose this broker exclusively, as they do not need a large number of providers for the various financial products. In our guide we would like to focus in particular on the Lynx Broker Demo Account and inform you about the trading platforms that the Broker provides.
Why is a demo account also useful with Lynx Broker?
Many investors, especially newcomers, ask themselves why most Forex brokers now offer a demo account. By far not every trader has recognized the sense and purpose of such a test account. Nevertheless, it is undisputed among experts that the demo account, which is provided free of charge anyway, can be a very good tool. First and foremost, brokers offer a demo account so that new customers can get to know the trading platform without financial risk. If the trader had the opportunity to become familiar with the platform’s functions only during the course of real trading, problems could already arise and ultimately even lead to unwanted and unnecessary capital losses. With the demo account, on the other hand, there is the opportunity to test the future trading platform in detail and get to know many functions.
Another reason why a demo account is also useful withu Lynx Broker is the testing of designed or selected trading strategies. Many traders still have to try out in detail how a strategy works in practice. If this process would only become available with real trading, this would also often lead to losses. However, these losses can be avoided, because with the demo account you can try out extensively without financial risk and often without a time limit.
What is important with the demo account?
Regardless of whether you ultimately decide to use the Lynx broker or another provider: There are always some characteristics that you should know and consider when comparing brokers in the demo account section. In particular, the following features are available for every demo account in one way or another:
- Can be used immediately or is it necessary to deposit into a real money account?
- Amount of the virtual credit?
- Proximity to the trading platform (functional and visual)?
- Duration of use?
Of particular interest for many traders is the period of use. It is optimal if the demo account can be used by the trader without a time limit. With some CFD brokers, however, this is not the case, so that the period of use is limited to a maximum of 30 days, for example. This does not apply to the demo account of the broker Lynx, however, as the customer can use this test account as long as he wishes. It is also important for many traders that it is a real demo account. This is the case if the trader does not have to make a deposit to his trading account first. Instead, he can use the test account immediately after he has logged in to the broker and confirmed the registration.
The Lynx Broker demo account in detail
Now that we have informed you in more general terms about the purpose of demo accounts, we would like to go into detail about the offer of the broker Lynx. First of all, we can state that the broker makes his demo account available to all customers free of charge and for an unlimited period of time. There is no time pressure in this respect, so that the trader is not forced to test his strategies extensively after 14 days at the latest. As a real trading platform, the broker offers two variants. We have found in our extensive broker review and for your information, that the Lynx demo account is virtually identical to these trading platforms.
The design is the same as the trading platform and almost all of the features that you will be able to use on the trading platform are already available on the demo account. We believe this gives customers the best opportunity to move to the trading platform quickly and easily. The virtual capital can be agreed individually and can even reach up to one million US dollars. There is also practically no limit here, so that the trader can actually test the trading via the demo account of the broker Lynx without pressure and with all available means.
The stationary trading platform at Broker Lynx
As already mentioned, the broker Lynx of course offers its customers not only a demo account to try out, but also a professional trading platform. The stationary trading platform is available in two versions, namely as Lynx BASIC and as a trading platform in the form of a desktop version. The Lynx BASIC trading platform is very simple, but therefore also clearly arranged. It enables fast trading and can be accessed via the browser. Due to its simplicity, this trading platform has been optimised especially for beginners who would like to gradually familiarise themselves with trading currency pairs, shares or CFD contracts.
For those who like it more professional and want to use even more functions, the broker offers his Lynx trading platform. This trading platform is not only effective, but equally innovative and it enables targeted trading. The trading platform has already received several awards and provides direct access to over 100 exchanges. The Lynx trading platform offers many benefits to customers, including professional trading tools, over 70 technical indicators and more than 50 order types. Of particular note are the numerous analysis tools that ultimately help the trader to determine the best possible time to buy and sell the desired financial product. In addition, there are many other features, such as insight into the order book, messages are sent to the client in real time and the trading platform’s information section also contains numerous facts and figures on the underlying instruments.
Numerous expert tools as a supplement
The Lynx trading platform is not only supplemented by extensive information, but also by so-called expert tools. One example is the chart trader. This gives the customer the opportunity to trade not only directly from the chart (one-click trading), but the trader can also access more than 70 technical indicators.
In addition to the chart trader, the broker also provides several other expert tools, such as
- Option Trader
- FX trader
- basket trader
These respective expert tools are very precisely tailored to the tradable financial product, which can be seen in the example of the FX Trader. This enables professional trading with foreign exchange and is designed for this purpose. For example, the customer has the possibility to observe up to 16 currency pairs at a glance.
Mobile trading platform also available
The broker Lynx has of course also thought of its customers who like to trade from the road. Therefore, not only is a stationary trading platform offered in the two variants described above, but there are also corresponding applications that include the mobile trading platform.
The apps can be used by traders who have either smartphones or tablets with the operating system iOS or Android. One positive aspect is that the mobile applications contain hardly any fewer functions and tools than the stationary trading platform. For example, the following services are available with the mobile trading platform:
- Definition of individual price alerts
- filter the markets with the Market Scanner
- retrieve both charts and quotes in real time
- all financial products can be traded, for example shares, foreign exchange and CFDs
Conclusion on the demo account of the broker Lynx
The broker Lynx offers a free demo account, which the trader can use for an unlimited period of time. The virtual capital with which the demo account is loaded is more than sufficient with up to one million US dollars. Another positive aspect is that the demo account corresponds to the trading platform, so that the customer can easily switch from one environment to the other later on. It is also a real demo account, which can be used immediately after registration. The test account reflects the trading platform offered by Broker Lynx very closely. This means that the customer has numerous tools and features available to him even with the demo version, which he will also find later on in the trading platform. These include real-time prices, various charts and market scanners.