How to use Binance Trading Simulator

Clients can work with any open-ended contract from the listing and use the full functionality of the platform. The options are similar to real trading. However, quotes may differ slightly.

Pros and cons

On the training platform, beginners can familiarize themselves with the terminal interface and evaluate the impact of high leverage without financial risks. The table summarizes the main advantages and disadvantages of the Binance trading simulator.

How to access a demo account on Binance futures

Traders in the trading simulator and the real terminal see the same interface. Therefore, after working in demo mode, you can move on to real trades. To access the training platform you need to:

1. Authorize on the crypto exchange’s website.
2. Go to the Binance Futures section.
3. Click on the “Trading Simulator” button in the upper right corner.
4. Click on “Continue.”

The program will create a test account with the same data as in the real profile. By default, the demo account has 3000 USDT. This is enough to test different strategies and create a balanced portfolio.

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Users can also log into the market trading simulator on Binance in the mobile app. The algorithm is as follows:

1. Authorize in the Android or iOS program.
2. Select the “Futures” section.
3. Log in to the profile and click on the “Trade Simulator” button.

Account funding

Any cryptocurrency can be added to the balance if the number of coins has dropped to $1000. The interval between requests should not be less than 72 hours. Instructions for funding the account:

1. Log in to the simulator account on the website or mobile app.
2. Click on the “Crane” button. In the program for smartphones, it is represented in the form of an icon.

3. Select a cryptocurrency.
4. Click on the “Add asset” button.
5. Confirm the request.

If the conditions are met, 1000 units of cryptocurrency will be instantly deposited to the account. In case of an error, an information window will appear with the reason for rejection.

Platform simulator functionality

When logging into the demo account for the first time, a description of the main fields of the terminal and a guide to opening a transaction will appear at the bottom. Users can view or remove the prompts. The page for trading contains the following blocks:

• “Selecting the type of futures. USM-M and COIN-M contracts are available.
• “Cryptocurrency.” Users can trade perpetual and quarterly contracts. To select a cryptocurrency, users need to click on the field and enter the ticker in the search box.
• “Order Creation Window.” In the form you need to enter the type of order, the amount of cryptocurrency and the direction of the transaction. Additionally, you need to specify the stop and take.
• “Exchange stack.” Users can view the order book, the depth is 20.
• “Open orders”. The window contains placed and executed orders.
• “Menu”. Clients can view the history of transactions and customize the interface. Changing the color and location of the stock exchange stack, activation of K-Line on the trading page are available (by clicking on the chart the price is filled in the order form).

The functionality of the simulator does not differ from real trading. Users can:

• Place orders.
• Change the leverage (from 1 to 125).
• Switch between isolated and cross-margin.
• Set stop and take positions.
• Close trades manually. To fix all orders you should click on the Close all positions button.
• View the history of deals.
• Refill the account.
• Add indicators to the quotes chart, use drawing tools.
• Work in one-way or two-way mode. The latter allows you to open long and short on one coin at a time.
• Use single format or multi-asset mode. In the first case, you can not compensate losses on one coin with profits from another cryptocurrency.

Tips for trading on the simulator

The demo account for futures trading on the exchange is called Binance Testnet. The focus on the futures market exists because of the high risk of this type of trading. Users can add leverage up to x125, and the volatility of cryptocurrencies reaches 100% per trading session. Therefore, one mistake when opening a position is capable of draining the deposit.

On a trial account, you can learn how to place orders, adjust the size of the leverage and fix losses. However, after practicing you need to move to the real market.

Too long trading in a simulator does not contribute to successful work on the stock exchange. Because of the lack of financial losses, the trader does not learn to cope with emotions and clearly follow the plan.

Strategy testing

The training format is also useful for experienced traders. Testing new strategies on a demo account is an important stage of testing trading efficiency. Historical data does not take into account spread, commissions and delays in entering a deal. Therefore, the final result may differ significantly. Users open trades manually or run a robot.

Other exchanges with the possibility of using a demo account

Training tools are not only available on Binance. Other major platforms offer a demo mode not only on futures, but also on the spot market.

The simulators work on the same principle. Differences can be in the method of replenishing the account.

In some terminals, coins need to be requested in the tap, in others it is required to write to the support chat. Demo account is available on such exchanges as:

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