OKEx - Leading Cryptocurrency Exchange Demo Trading
Academy Beginners Tutorial Article

How to practice trading crypto on OKEx with Demo Trading

2020.07.08 OKEx

A guide to OKEx's Demo Trading tool for simulated trading

For users looking to learn how to trade Bitcoin (BTC) and other cryptocurrencies without actually risking losing any real money, OKEx’s Demo Trading provides the ability to practice in a simulated environment without dropping a single satoshi.

Demo Trading allows beginner traders who are just learning the ropes to practice before diving headfirst into real cryptocurrency markets. Likewise, it also provides a playground for advanced traders to hone their skills and practice advanced strategies before applying them to their real market trading portfolios.

https://www.youtube.com/watch?v=L58v505it6c&feature=youtu.be

Step 1: Switch to Demo Trading mode

Navigate to Assets at the top right of the OKEx homepage and click on Start Demo Trading to switch to the trading simulation mode.

Click Start Demo Trading in the Assets menu, as shown above.

Now, navigate to Assets - Demo Trading in the upper right corner and click on My Assets. You’ll see the total amount of virtual assets you’ve received by default, shown in USDT, BTC or OKB. (Remember, this is not real money — it’s for simulated trading only!)

Click My Assets in the Assets - Demo Trading menu, as shown above

Your total virtual assets are automatically distributed into all of OKEx’s trading products — Spot, Margin, Futures, Perpetual Swap and Options — so you can try them all! 

The "Demo Trading Assets" tab displays your total amount of simulated funds

Click on the Fees tab in the upper left portion of your screen to check out the "Standard Fee Schedule" for each product. 

Step 2: Trade with virtual money

You’re now ready to start simulating trades! You can choose any market you’re interested in.

Spot trading example

Let’s take BTC/USDT spot trading as an example. 

Choose the Order Type, input the price of BTC in USDT (if applicable) and the amount of BTC you want to buy, and click Buy BTC (Demo Trading).

It’s as simple as that!

Buying BTC is as easy as selecting your order type, entering your desired amount, and clicking Buy BTC (Demo Trading)

Options trading example

Now, let’s take options trading as another example. 

Click on Options and go to the Options Discovery tab to learn about how options work.

Choose what you think BTC’s price will do — will it rise or fall? In this case, let’s assume it will rise, just as an example.

Select whether or not you think the price of BTC will rise or fall

Choose the time frame that you think it will take BTC for its price to rise. Here, we’ll choose nine days (9d) as an example. 

OKEx’s Options Discovery tool is useful for choosing the desired time frame

The Options Discovery tool will show different available options contracts with different levels of cost and risk. For each contract, you’ll see the predicted price BTC will reach in nine days — known as the strike price

Choose the contract and strike price that best suits your needs

Click on the contract you prefer and choose the number of options contracts (or Cont for short) you want to buy — or move the slider to choose the percentage amount of the default contracts shown — in order to see your break-even point and potential profit.

The chart at the bottom of this screen displays your break-even point and potential profit

Once you’re ready, click on Buy Options to go to the "Options Trading" page and practice your simulated options trades.

After practicing with Demo Trading, you can navigate back to Trade in Real Market and test out your new skills! You can also read more in our guide to options trading.


Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.


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