The InvestinGoal team will give you every insight at all the key aspects of the CMC Markets demo account.
The following article is going to walk you through a step-by-step guide on how to open a demo account on the CMC Markets trading platform.
Main features of the CMC Markets demo account:
- It’s unlimited
- It’s totally free
- Easy to open
- Virtual $10000 to invest
- All live account markets and assets available
- Switch to live on the same platform
|CMC Markets demo account
|Proprietary platform, MT4
|Virtual money amount
Visit CMC Markets (78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.)
CMC Markets demo account opening tutorial: step by step procedure
Here we will guide you through the CMC Markets’ demo account opening process.
Step 1: Visit the CMC Markets’ website
To open a CMC Markets demo account you must visit the CMC Markets website, and then click the “Create account” button (78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.).
Following that, you will get different options to choose from that may change depending on the country you are residing in.
However, the CFD demo account of CMC Markets is always available worldwide as you can see from the website popup.
Step 2: Fill the registration form
The next step is filling in the registration form with an email and a password. Once you have done that, you’ll be asked to choose between the demo accounts available.
Usually the CFD demo account is always available worldwide. Other account types such as the CMC Spread Betting account are restricted depending on the country.
In some countries, the broker will first ask your country, then will ask to choose between trading on MT4 or their CMC Proprietary Platform.
Step 3: Verify your profile
Once you submit the registration form, you will get an email with your account information on it. Then you will be sent a code to verify your email address.
Step 4: Login into the demo account
Once your account is verified, you can start trading.
CMC Markets should automatically redirect you to the webtrader platform, but in case it doesn’t, simply use the login credentials provided at the time of registration.
CMC Markets also offers MT4, so for all traders who want to, it will also be possible to download this platform. However, you will have to use specific login credentials provided by the broker.
CMC Markets’s demo account features
The process of opening a CMC Markets account is very simple. All that is needed is a valid email address. The demo account itself is unlimited and you can open multiple demo accounts with the same email.
There are up to 10,000 tradable markets depending on your location and £10,000 in virtual money is available.
The broker’s proprietary platform as well as MT4 can be used. Tools to speed up learning including educational video tutorials and articles are also accessible.
Differences between live and demo CMC Markets accounts
CMC Markets offers two account types as a demo. These are the CFD trading and spread betting accounts, however the spread betting account is only available in the UK.
Even though CMC Markets provides a CFD share dealing account, this is only available as a live version.
The major difference between a live and demo is Slippage, which is the price difference between your requested order price and the real order’s execution price. This happens because in live accounts prices move fastly and as a consequence, your order can be executed at a different price than when the order was initiated.
CMC Markets is one of the brokers that offer an unlimited demo account to new and existing customers, meaning that the demo trial does not end.
There is an inactivity fee of $15 after 1 year of inactivity for a live account.
How to switch to a live account
When switching to a live account, the demo will still be available for you to use.
To open a live account you will need to upload a proof of your identity (Passport, ID or Driver License) and a proof of your residence (Bill utility or bank statement) on the broker’s website.
Depending on the country, you may get asked to fill a questionnaire about your trading knowledge and experience.
When your account is verified, you can proceed to make your CMC Markets first deposit.
How to best use your CMC Markets demo account
Here are a few tips on how to get the most out of your CMC Markets demo account.
- Do not open large positions if you are not planning to trade with large amounts of money
- Treat money as if it were real, just like you would do with a CMC Markets live account
- Practice daily
- Study and integrate knowledge via the educational materials and tools provided by the broker
Pros and cons of the CMC Markets demo account
- Easy to open
- The offering is not equal for all traders
To learn more, read our CMC Markets review.
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