I can bet that everyone who just started their trading journey faces difficulties with the interface, wording, and logic behind the order management process. I lost about 500 USD by miss-clicking, creating orders in the wrong direction, and so on. If I had a chance to use a demo account, I would not lose money.
I found “Mock trading“ on Binance futures during the development of the trading app Tiger.Trade btw, our app supports this functionality too.
I decided to share that knowledge with a broader audience so people can be prepared for real trading and not repeat my stupid mistakes 😀
What is “Mock trading“? It’s also called “paper trading“ when an exchange or a broker gives you an opportunity to make trades without having real money.
If you are a newbie in trading, Binance has an easy-to-use solution for you. Everything you need is just an email and password to create an account where you can perform trades!
So, let's see what you have to do.
- Go to https://testnet.binancefuture.com/ (int’s an official site from Binance)
- Register account. If you already have an account on Binance, I’d recommend using the same email and password for this account. The important thing, those two accounts are linked but don't have anything in common. Your finances are securely stored in your main account!
- You have to receive an email from Binance, to confirm your email address. Please follow the instructions in the received email.
- Login by using previously used credentials.
- Start trading!
I hope, this article helps you to become a more mature trader and get a profit in the future from each trade!