Who are TD365?
TD365 is a CFD Broker based in Australia with offices and legal entities in Bermuda and the UK. They are famous for three things: Fixed spreads, currency based point transactions and a 1:200 margin requirement, even in places where other brokers are limited to 1:30 by law.
How to open a demo account with TD365?
Upon opening an account with them customers are able to use a demo account. The demo account starts with a balance of 50,000 Euro and works pretty much like a live trading account. It has the same prices and instruments as real accounts. The functionality is however limited. Traders can open and close trades like in a real account, but they are not bound by margins. It means one can accumulate losses without receiving margin calls or without being stopped out. An email to support will usually help in making the account tradeable again once you burned through the funds. Their staff will add funds so you can trade again. Unfortunately, there is no way to reset the demo account by yourself and there is no way in achieving a more reasonable starting balance. Every time I emailed support to have a balance of let’s say 1000 Euro in my account they did ignore my requested and added anywhere between 50k and 500k instead.
Functionality of TD365 demo account:
The demo account is good to make yourself acquainted with how a real TD365 trading account and how this brokerage company works. Due to its restrictions and limitations it is not a reliable tool for demo trading as in testing strategies or familiarizing yourself with the procedures of alerts, margin calls, stop outs and so on. For that you need to use real money in a real trading account.
Is a TD365 demo account for beginners?
If you are an advanced trader and want to open an account with TD365 for CFD trading, it is a good start to familiarize yourself with the way the cloudtrading platform works. The process of placing orders and is easy to execute and the platform is easy to navigate. The platform offers basic charting with lots of indicators such as moving averages, Keltner Chanels, pivot studies and of course Bollinger Bands.
Signing up for an account is easy. You can use the demo account before confirming, documenting or charging your real account. Good luck.
Downsides of a TD365 CFD demo account?
The demo account only works on a web-based cloud trading platform. It operates fine with Google’s Chrome browser, but not so well with any other browsers. There are platform issues such as delayed quotes, slow moving charts and connection issues from time to time.
If you are an advanced point-and-click price action trader and want to check out TD365 for trading fixed spreads CFDs you will find most answers in their demo account. For beginners or strategy testers, the account may not be very useful since it neither offers tools to automate trading nor the ability to reset the equity to a desired amount.