The key difference between a real account (Live account) and Demo account are the funds used for trading — whether it’s real cash, or virtual money, respectively.
With a real account (Live account), you fund and trade with real funds in your preferred currency. A Demo account on the other hand, enables you to use virtual money to trade. This also means that with a demo account, you make paper profits and losses.
Apart from this defining factor, Demo accounts offer the same market conditions as real accounts (live accounts), making them ideal for you to practise your trading strategies.
However, Demo accounts are only available for Standard STP and RAW ECN account types.
If you would like to experience the thrill of trading without using your actual funds, sign up for a Demo account and get USD $100,000 in virtual credit to practise with.