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Phone in hand

Your first trade, run entirely from a phone · India

One small demo trade on the only device you have — most of the work happens before the phone is picked up.

A first trade is a learning exercise on a demo account: virtual money, so a mistake costs nothing. A phone changes none of that — only how much is visible at once, and how fast a hand can act. So the figures get settled off the device.

Two things are needed: a demo account and about fifteen minutes, most of it with the screen still dark.

One trade, and what the phone is actually holding

The phone holds a view of the trade and a way to touch it; the trade itself sits elsewhere.

Part of the trade On the phone Where it really sits
The pair, EUR/USD A name in a search box Priced in the market, on or off screen
The size, 0.01 lots A number in a small field Recorded with the order
Buy or sell Two buttons, one tap apart Part of the same order
The stop-loss, 20 pips away A distance typed in first Stored on the trading server, not on your phone

Five lines written while the screen is still dark

On paper, or in any notes app — each is something to check a field against later.

  1. The account: a demo

    Virtual money, an email and a password — no documents, no deposit, no time limit; the demo account page covers it.

  2. The pair: EUR/USD

    A currency pair: the price of one currency, quoted in another, traded around the world every day.

  3. The size: 0.01 lots

    A lot is the standard trade size: one lot of EUR/USD is 100,000 euros, far too big for learning. 0.01 lots is the smallest — and the figure a hurried thumb leaves wrong most often.

  4. The direction: buy or sell

    Buy expects the price to rise, sell expects it to fall. For a learning trade the direction hardly matters — so it is not worth deciding under a live price.

  5. The stop distance: about 20 pips

    A stop-loss closes the trade automatically if the price moves against you by a set amount. A pip is the smallest common price step — 1.1000 to 1.1001 — and at 0.01 lots one pip is about 10 cents, so this stop risks around two dollars of virtual money. Check it in the practice calculator first.

The short stretch the device owns

With five lines written, the screen is for transcription, not decision. The order goes in through the Exness Trade app, built for phones, or Exness Terminal in a phone’s web browser: search the pair, set size and direction, type the stop, confirm once.

A finger is a blunter pointer than a mouse, and the field it lands in most often is the size field — so read the volume back before confirming. The small minus that appears next is the spread: the gap between the buy and sell price, and the main cost of a trade.

What keeps running once the screen goes dark

The trade does not depend on the app being open. The stop-loss is stored on the trading server, not on your phone, so it holds while the phone is face down or switched off. Close the app, come back tomorrow, and the trade is where it was left.

Close it on purpose after an hour or a day, rather than letting the stop do it. Held overnight, it may pick up a small charge called swap, shown before you trade. Then read the five lines back.

Written before the phone What a gap means
0.01 lots A larger size: typed in, never read back
A stop 20 pips away A wider distance: a hand moved it, nothing else can
About two dollars at risk A bigger figure: size or stop changed after the note

Plus or minus, the result is not the lesson; the gaps are. Demo results do not guarantee real-account results either, and a pocket device makes it easy to look far more often than a decision needs — see risk basics.

Questions asked with the phone in hand

After the confirm, does anything still need the phone?

Not for the trade to run: the order and its stop-loss sit on the trading server. The screen is for reading figures or closing on purpose.

Does a smaller screen change any of the numbers here?

No — they come from the size and the market: a 20-pip stop at 0.01 lots is about two dollars of virtual money on any screen.

Is fifteen minutes enough when the phone is the only device?

Yes, and most of it goes before the phone is picked up. The lit-screen part is short: that is where a rushed tap becomes an order.

Should the direction be chosen while the price moves in front of you?

Better not. Either way is fine for practice, so the choice costs nothing on paper and invites hurry on a live screen.

What gets checked first, straight after the confirm?

The size and the stop distance, against lines three and five. Only then the small minus, which is the spread, not a mistake.

What if a tap lands in the wrong field?

Before the confirm a wrong figure is only a wrong figure. After it, that is the size the order ran at.

Close it by hand, or let the stop-loss do it?

By hand, for a first trade: closing on purpose is part of the practice. Left overnight, it may pick up the swap charge.

Does the first trade have to be on a demo?

It is what this page describes: with virtual money the sequence can be walked while a mis-tap costs nothing.

Keep going

Practice calculator

Settle the size and the stop distance with the platform closed.

Do the arithmetic

Account types

The one thing the device never chooses. A Standard Cent account makes trades roughly 100 times smaller.

See account types

Risk basics

Where a loss limit is kept, and what a pocket device does to how often it is checked.

Read risk basics

Ready to write the five lines and enter them once?

Open a free demo at Exness — virtual money, no time limit, no documents needed. Practise the sequence on the device you actually carry.

Open a free demo at Exness