One of the most important tools for any respectable trader or evolved investor who wants to trade forex is definitely a forex demo account.
The eToro demo account, better known as eToro Practice Account, with free and unlimited access and the possibility to use $ 100,000 of eToro virtual money, is one of the most popular.
Click here to open one now.
62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
But most of all, discover how to best explot it in this post and in this whole eToro Guide.
Table of contents
eToro Sign Up – Getting the eToro Practice Account
The eToro Sign Up procedure for a practice eToro account is really easy, because you’ll get one automatically as soon as you register your details in the eToro Registration page, even just with a simple Facebook or Google login registration.
As soon as you sign up, a practice account in your name is activated automatically.
Do not worry, the practice account is free of charge and it is not binding. Also, it has no time limitation, in fact we even included eToro in our list of the best forex brokers with no limit demo account.
Let’s see the steps you will need to sign up and log in to your eToro Practice Account. Once your demo account with eToro will be ready, it will be a good idea to read our eToro reviews with the actual platform under you nose, to make it clear once and for all if eToro is legit or not.
eToro Demo Account Tutorial
Click on this link (66% of retail CFD accounts lose money), you will find yourself in the eToro registration page.
Click on the green “Join Now” button.
The page that appears may be different from the one in the image below. In any case, the important thing is to get to the form for entering your data.
Enter the required data in the form, as in the image below.
We recommend using true and accurate data. eToro is a broker that must comply with the strictest European regulations regarding the protection of your personal data, so you can rest assured that your personal data will be safe and you’ll be able to unsubscribe at any time (we also created a tutorial to cancel the eToro account if you need to.)
- Enter your name and surname
- Choose an invented Username (here you can use fantasy instead, but keep in mind that it will be visible from the whole eToro community)
- Enter your email address, which will be used for important mandatory communications. It will also be used for all marketing emails, but as noted on the left side of this form, you can immediately unsubscribe and block receiving daily or weekly marketing emails if you do not like to receive them.
- Enter a password, we recommend it is quite complicated
- Enter your phone number. This point can not be avoided. Your number will be necessary for the verification of your identity in case you want to go for an eToro Live Account. eToro could also call you to offer direct assistance with the use of the platform (something you don’t want to miss if you have doubts). However, as explained above, your data will be respected and protected.
- Click on Create Account
- Go to the inbox of the email you used to sign up
(If you like, you can use Facebook Login or Google Login to speed up the procedure a little)
In the inbox of your email you will find the email to confirm the address.
All you have to do is click on the green button to verify the registration (if the button does not work, you can copy with the mouse the link under the button and paste it in a page of your browser).
In some cases, this mail may end up in Spam or Junk Mail folders, or in other folders.
So, click on the Green Button in the email.
Once you have clicked the green button, the form to log in to your new eToro profile will appear.
Enter your email address and the password you have chosen.
Flag “Stay signed in” to stay connected and avoid having to always re-enter your data.
Click on Sign in.
Once you have logged in for the first time, you will finally land in your new eToro profile.
You will notice that your Balance will be 0$.
This is because you landed in the Live section of your profile.
Yes because, with the same login data you can manage both your eToro Demo profile and your Live eToro profile.
Switching to the demo profile or vice versa is very simple.
How to switch from Live Account to eToro Demo Trading Account and vice versa
Click on the small button below the area of your profile pic and username (see the image below to find it immediately).
With that button you can decide from time to time whether you want to access your Live Portfolio or your eToro Virtual Portfolio.
In this case, select Virtual Portfolio.
eToro will notify you are about to switch to the virtual portfolio.
Confirm by clicking the blue “Go to Virtual Portfolio” button.
That’s it, now you’ve finally arrived at your new eToro Virtual Account, with $ 100,000 to try out all the features.
First eToro Log in – How to start practicing with the eToro virtual account
You can start trying eToro by discovering its main features:
- Trade Markets: to access all the assets you can trade from the eToro Markets section
- Copy People: to access the eToro community and discover all the traders you can copy manually or automatically (here is a tutorial on how to find the best eToro traders)
- Invest in CopyPortofolios: to invest in an alternative way and diversify quickly and easily with the eToro CopyPortfolios.
However, your best first step is always to start from our eToro review.
What is the eToro Demo Account good for?
The eToro Demo account is the most useful tool this company could make available. With the practice account you can use all the functions and services to which you may access by having a real money account.
Needless to underline how this is useful!
You will learn quickly and safely:
- How to connect a Professional Investor;
- How to activate the Copy Trading function to automatically replicate the operations of one or more investors;
- How to set the trade replication parameters;
- How all thet eToro features work
In short, how to best use all the tools eToro provides you.
The practice account, however, is not a useful tool only in the first stage of learning, it’s useful also in the next step, when you will do transactions with real money. Trading with real money does not exclude the possibility and the advantage of being able to study and demo test new trading strategies and/or new investors.
Even when, through your real account, you’ll be replicating for real the operations of some eToro investors, you will have the opportunity to try others in the full security of your practice account.
Your Real and eToro Virtual Account
We must clarify the relationship between your real and virtual profile.
When you sign up at eToro you are creating a real and public profile, what once was known as eToro OpenBook profile. Together with that you also have a virtual but private profile.
The eToro community users can only see your public profile and your real portfolio. So, until you open a real account, you deposited your capital, and you begin to open or replicate trades, in your statistics there will be no publicly viewable data.
Privately, you only, you’ll see some data and the performance of your virtual portfolio.
In addition, you must always remember that when you interact with other users of the community, you do it through your public profile, even if devoid of funds, and from your social activities are then created feeds which are public and visible to all. You cannot do social things privately in demo. If you do interact with the community, you do it always publicly, exposing your username and your public profile.
Now that you have the control of your demo account, we can move on to really discover the world of eToro.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.