The following article is going to cover every detail you need to know about the demo account offered by FBS.
The InvestinGoal Team will help you take a look at all the key aspects of the FBS demo account.
Main features of the FBS Demo Account:
- 40 to 90 days trial
- It’s totally free
- Easy to open
- Wide range of account types available to try
- All markets and assets available
- You can install EAs
|FBS demo account||Characteristics|
|Trial duration||40-90 days|
|Demo platforms||MT4, MT5, Proprietary Mobile|
|Virtual money amount||Customizable|
Visit FBS (74-89% of retail CFD accounts lose money).
FBS demo account opening tutorial: step by step procedure
Step 1: visit the FBS’s website
First, head to the FBS homepage and then click ‘Open Account’ (74-89% of retail CFD accounts lose money).
Your experience on the website may be slightly different depending on your location.
If you are based in Europe, you will probably notice a popup that will try to redirect you to the right FBS website. Follow the instructions provided by the broker to be redirected into the right website.
Step 2: Fill the registration form
After clicking the button, FBS will redirect you to the demo account registration form. Enter your email and full name, and confirm your choices.
After you completed the form, you will be redirected to a page where you will create the password for your personal area.
Step 3: Verify your profile
Confirming the email is necessary before you can activate and log-in to your FBS demo account. A new page with all of your login details will appear. Save your personal details for later. You will also receive an email with the summary of your login details.
Step 4: Customize the demo account
Once you have confirmed the email, you will be redirected to a confirmation screen to complete the account opening process.
Here you will be asked to select the trading platform (MT4 or MT5), the account currency and the initial virtual balance. The adjustments available may vary depending on the country of residence of the trader.
It is also possible to open a different demo account type. Click the ‘+sign’ that the arrow is pointing at to create a demo account. Note that as a European trader you can choose from the 4 options you see in the image below: Standard, Cent, Pro Standard, or Pro Cent.
As an international trader you can choose from a greater range of demo account types (Cent, Standard, ECN, Zero Spread, Micro, or Crypto)
Step 5: Login into the demo account
If you have chosen and downloaded the MT4 or MT5 platform, right after the download you will receive the email of the broker with the MetaTrader login details. Use the login details to access the demo account.
Below is an image of the initial screen of the MT5 platform which will greet you.
FBS’s demo account features
It’s very simple to open a FBS demo account. A valid email address is enough for the demo account opening. The MT4 demo account is valid for 40-45 days for international traders depending on the account type, and 90 days for CySEC traders. MT5 Demo accounts are unlimited.
More demo account types can be opened with the same email and there are around 100 tradable markets in total. Any amount of virtual currency can be used to trade and the MT4, MT5 as well as the FBS Trader App are all available to use.
Educational materials like video tutorials and an ‘Analytics and Education’ section are available in the dashboard of your account.
FBS is a broker that offers really high leverage to its international customers, so a demo account is a good way to learn how to manage the risks associated with this feature.
Differences between live and demo FBS accounts
Traders that are based in the European Union can open the Standard or the FBS Cent demo accounts.
International traders have a wider choice of demo account types. They can both select the FBS Cent and Standard account, while having other options such as the Micro, Zero and ECN account types available.
The only difference is that the FBS demo account does not simulate slippage, which is the difference between the price at the time when you make a trade, and the time when the order is executed by the broker.
The duration of the MT4 demo account depends on your location. This is 40-45 days for non-EU traders depending on the account type and 90 for EU traders. MT5 demo accounts are unlimited in time. Regarding live accounts, a fee will apply if you are inactive for 180 days. In fact, after that, a $10 annual inactivity fee will be charged by FBS.
How to switch to a live account
When switching to a live account, you will still be able to use your demo account. To open a live account you will need to provide proof of your identity (Passport, ID, or Driver’s License) and proof of your residence (Bill utility, or bank statement) so that FBS can verify you. Depending on the country, the broker may ask you to fill out a questionnaire about your trading knowledge.
When the broker verifies your account, you can proceed to make the first FBS minimum deposit to start trading, which is $1 for FBS international traders or $10 for FBS European traders
How to best use your FBS demo account
Here are a few useful pieces of advice on how to best utilize your FBS demo account.
- Set up the demo account as you would set up a real account with platform, money, account types, and leverage. Choose these features wisely.
- Do not open large positions if you are not planning to trade with large amounts of money
- Treat money as if it were real and not recklessly
- Practice daily
- Study and integrate knowledge
Pros and cons of the FBS demo account
- You can open multiple demo accounts
- Wide range of account types
- European traders face limitations in terms of features available
- The MT4 demo accounts are not unlimited
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