Opening up a simulated account offers a perfect opportunity for beginners to explore trading specifics in exchanges, to assess the possibilities of the trading platform TradersYard X and also to develop their own strategies.
The advantages of our simulated account are:
- 1.This is an internal account, which allows you to use it at any time without limitations and broker binding.
- 2.It simulates a broker trading account and so creates real conditions for testing.
In order to make trading with the internal simulation account in TradersYard X as realistic as possible, you can set commissions for each instrument group allocated to each of your simulation trades. Using the connection settings, you can edit your simulation account:
In the following window, you can see the commission settings. Under Amount/Unit, you can set which commissions per traded unit (stock, future, CFD, currency pair) should be allocated. The settings are in absolute numbers and are in the currency that you have set for your simulation account. In the Min field, you can set a minimum commission for each order, as is usually charged by most brokers. If, for example, you buy 1 Apple share and you have set commissions for it at 1€ per order for stocks (Amount/Unit), but the minimum commission is set to 10€, then this order will be charged 10€ commission, since this is obviously the minimum fee value.
As an example, I have chosen the following settings in as realistic a manner as possible:
- For stocks/ETF: 1.00 USD per traded stock/ETF, minimum fee = 5.00USD
- For futures: 2.50 USD per traded future, minimum fee = 10.00 USD
- For currencies: no fees, since most Forex brokers only charge the spread
- For CFDs: 1.00 USD per traded CFD, no minimum fees
Sim account can have a minus value which means that trading with a sim account exceeded the account's cash value.