City Index Demo Account – Opening Tutorial and Review
The following article is going to show you everything you should know about the demo account on the City Index trading platform.
Here we provide a full step-by-step on how to open your demo account as well as introduce all aspects of the account itself.
Main features of the City Index demo account:
- 12 weeks trial
- It’s totally free
- Easy to open
- Wide range of platforms and account types to try
- All live account markets and assets available
Table of Content
Round-up
| City Index demo account | Characteristics |
|---|---|
| Demo available | Yes |
| Trial duration | 12 weeks |
| Demo platforms | Proprietary platform, MT4 |
| Virtual money amount | $10.000 |
| Customizable features | Yes |
Visit City Index
73% of retail CFD accounts lose money
City Index demo account opening tutorial: step by step procedure
Our full City Index review goes in depth on all aspects of the broker. Here we focus on the City Index demo account and all the details about it.
Step 1: Visit the City Index’s website
Go to the City Index homepage. From here you will be able to select the option to open a demo account.
Visit City Index
73% of retail CFD accounts lose money
Step 2: Fill the registration form
Filling in the form should be fast and simple. Just complete it as you see below with your name, surname, email, phone, and country of residence.
Step 3: Customize the demo account
After you click ‘submit’ you will be redirected to a page, as you can see in the image below.
The page shows you the login details and will require you to select the platform you want to use.
With City Index you can use the desktop (MT4), webtrader, or the mobile versions of the City Index platforms.
If you choose the webtrader, no download is needed. However, desktop platforms need to be downloaded and installed before being ready to use.
Step 4: Verify your profile
It is not required to be verified to start using the demo account as you can access the platform directly from the summary page that appears after you have completed the registration form.
Regardless, the broker will still send you an email to your email box with all the details recap.
If you choose and download the MT4 platform, after that the broker will send you the MetaTrader details you need to enter the platform.
Step 5: Login into the demo account
After downloading the platform (if you chose the MT4 desktop version), you have done everything you need to.
You are then ready to log-in with the log-in credentials you got earlier, and start trading on your demo account.
The City Index Webtrader initial screen you are greeted with should look just like the image here:
City Index demo account features
The City Index demo account is simple to open. Just a valid email address and a valid phone number are needed.
The account has a 12 week duration and you cannot open multiple demo accounts at the same time, but after the current one’s trial expires, you can open another one right away.
There are more than 12,0000 tradable markets and $10,000 in virtual currency is available.
MT4 and City Index WebTrader are both available platforms to use. There are also tools to speed up learning such as educational tools accessible.
Differences between live and demo City Index accounts
There are several demo account types available with City Index: CFD, Joint CFD, Spread Betting, and FX MT4 account.
The main difference you will find between a live and demo account is Slippage. It is the price difference between the initial order price you requested and the effective order’s execution price. Slippage won’t happen in a demo account because you deal with virtual money, but will happen in a live account because prices change very fast.
The demo expires after 12 weeks. For live accounts, an inactivity fee starts after 36 months of inactivity, with a value of $12.
How to switch to a live account
When switching to a live account, your demo account will still be available.
To open a live account you need to upload a proof of your identity (Passport, ID or Driver License) and a proof of your residence (Bill utility or bank statement) to be verified by City index.
Depending on the country, you may show your trading knowledge and experience by filling out a questionnaire.
After you’ve been verified, you can proceed to make the first City Index minimum deposit which should be at least $100.
How to best use your City Index demo account
Here are a few tips on how to get the best use out of your City Index demo account.
- Set up your demo like you would do with a live account and choose the platform
- Do not open large positions if you are not planning to trade with large amounts of money
- Treat money as if it were real
- Practice daily to speed up your improvements
- Study and integrate knowledge with the tools offered by City Index, which offers a great amount of educational material through their ‘Training’ section
Pros and cons of the City Index demo account
Pros
- You can open multiple accounts
- Wide range of demo account types
- Good array of trading platforms
Cons
- It lasts 12 weeks
About The Author
