FUMGO allows trading with virtual balanceAug 21, 2019
You can test FUMGO features using virtual accounts without adding your API keys to the platform.
What is a virtual account
A virtual account is a simulator that helps to test the terminal without spending real funds. When trading with virtual accounts you use virtual funds, so the profits and losses from trading are also virtual.
Virtual accounts will be useful for novice traders, who will be able to try trading and learn more about the functions of the platform. If you do not have enough experience, trading on a virtual account is an excellent opportunity to gain it.
Pro traders will also benefit from using virtual accounts. They will have an opportunity to test new strategy before implementing it with a real balance.
What do you need to know about virtual accounts on FUMGO?
Trading with virtual accounts is a great way to test all the functions of the platform. Virtual account on FUMGO allows you to trade with BTC, ETH, USDT. Using virtual balance, you can test the main functions of the platform: 3 types of orders, Stop Loss, Take Profit, etc. Currently, mirror trading is not available for virtual accounts, but you can use this function on a real account.
What do you need to keep in mind while using a virtual account
When trading with virtual money, some may experience a psychological trick, associated with a lack of responsibility. Traders do not carry actual risks with a virtual balance, taking different steps with a virtual balance compared to trading with real money. Therefore, the attitude toward virtual trading may be less cautious.
You always need to remember the primary purposes of trading on virtual accounts: it helps to understand the platform and allows you to gain trading experience.
Having this in mind, FUMGO team recommends you to treat virtual money the same way you treat your real balance. It will allow you to test your strategy and prepare for trading with real funds.
“There is a good technique that will make trading with virtual balance more real. Use the amount of virtual funds that you could spend on a real deal. So all the losses on your virtual balance will seem more real. That will help you to take trading with virtual money seriously,” says Anton Bartenev, Fumgo CEO.