BitMEX Demo Account
Embarking on the journey of financial trading requires knowledge, practice, and a solid understanding of market dynamics. To facilitate a risk-free learning experience, many trading platforms, including BitMEX, offer users the opportunity to register a demo account. This guide will take you through the step-by-step process of registering a demo account, allowing you to hone your trading skills without risking real capital.
How to Open a Demo Account on BitMEX with Email
1. First, Open the BitMEX website and log in. Click on [Information] to continue.
2. Click on [API Documentation] to continue.
3. Scroll down then click on [BitMEX Testnet].
4. Click on [OPEN TESTNET ACCOUNT] to continue.
5. Fill out your email and the password that you prefer. Also, choose your country/region then tick on the box to accept the Terms of Service and Privacy Notice.
6. Click on [Register] to create a demo account.
7. Check your email to confirm the registration.
8. Click on [Confirm Your Email] to continue.
9. Click on [Log In] to log in your demo account.
10. Click on [Trade Now] to continue.
11. Click on [No] to confirm you are not a US Citizen.
12. Click on [Back to BitMEX] to return to the home page of BitMEX.
13. Here is the home page of BitMEX Testnet after log in.
How to Open a Demo Account on the BitMEX App
1. First, Open the BitMEX website on your phone internet browser and log in. Click on the icon below in the top right corner to continue.
2. Click on [Information].
3. Choose [API Documentation] to continue.
4. Click on [API Reference] to extend the options.
5. Scroll down and select [BitMEX Testnet].
6. A pop-up window will come up. Click on [OPEN TESTNET ACCOUNT] to continue.
7. Fill out your email and the password that you prefer. Also, choose your country/region then tick on the box to accept the Terms of Service and Privacy Notice and the box to verify you are human.
8. Click on [Register] to create a demo account.
9. Check for the registration email in your mailbox.
10. Click on [Confirm Your Email] to confirm and continue.
11. Fill out your log in information and tick on the box to confirm that you are human.
12. Click on [Login] to continue.
13. Click on [Trade Now] to continue.
14. Click on [No] to confirm you are not a US Citizen.
15. Click [Back to BitMEX] to finish the process.
16. Here is the home page of BitMEX Testnet.
Frequently Asked Questions (FAQ)
If I already have a BitMEX account, do I need to create a new account to use Testnet?
Testnet is an isolated platform from BitMEX so you will still need to Register on Testnet even if you have an account on BitMEX.What is BitMEX Testnet?
BitMEX Testnet is a simulated environment specifically for testing and practicing trading strategies without using real funds. It allows traders to experience the functionalities of the platform, execute trades, and access market data in a risk-free setting.
It’s highly recommended for novice traders who want to gain experience and confidence in their trading skills before transitioning to live trading with real funds. It’s also helpful for experienced traders to refine their strategies and validate their trading algorithms without risking their capital.
Why is the price different on BitMEX and Testnet?
The price movements on Testnet are always different from BitMEX because it has its own Orderbook and trading volume.
While the real market movements may not necessarily be reflected on it, it can still be used for its purpose - to familiarise yourself with the same trading system BitMEX uses.
