Demo Account - Opening Tutorial and Review

Filippo Last Updated: September 2019 5 min read

So you have decided to take a leap and begin trading with a demo account?

This is excellent news, and a fantastic growth step in your forex trading career.

The broker is world-renowned and the account types are among the most used in the industry.

Getting started with a demo account is both a wise, and logical first step (even better if you use it while you read our review). Even as an experienced trader, you may have some questions around the process. That is perfectly OK.

Brokers differ slightly in what they offer for forex demo accounts, and how these can be set up.

For that reason, we have collected all of the information we can about the demo account opening process and put it here in this step-by-step tutorial.

Time to relax and take in all of the information. Your new account is just around the corner.

View Contents
Table of contents Demo Account Opening Tutorial

    Here we will chart the demo account setup process step by step. This will include images to guide you along the way:

    Step 1 – Getting Started With Your Demo Account

    Getting started on the first step is typically the easiest. All you have to do here is head straight on over to the homepage for your region. Once there, you will be greeted with the home screen. About halfway down this page, you should notice the following image: open demo account

    The start of your trading journey is as simple as clicking right here!

    Step 2 – Demo Account – What Documents/Information do you Need?

    Of course when you open any trading account, one of your biggest concerns will be the information and documents you need to prepare.

    Naturally, this preparation can help you greatly in speeding up the process for opening your live account. In the case of the demo account however, you will require relatively few things to get started. 

    All that you will actually need is the following:

    • A valid email address that you can verify when required.
    • A valid telephone number that you can also verify if needed.

    This is actually it. As we mentioned, getting started with your demo account is actually a very convenient and quick process.

    Step 3 – Fill in registration form

    As soon as you click on the “open demo account” button in step one, presuming you are trading under CySEC regulation within the EU (as we were in this example), you will be greeted with the following basic registration form: demo account registration form

    This is all you will need to fill out in order to complete the demo account registration process. It really is as easy as that.

    Step 4 – Confirm the account via email/telephone

    This is a step which you do not need to immediately complete, although the sooner the better.

    The phone verification is no really an important step at this point, but you should have received an email almost immediately after signup from the team.

    This welcome email does not need to be “activated” as such, though it will contain details of your username and assigned password, so try to keep it safe.

    Step 5 – First login into the demo account

    On your very first login to your new demo account, you should see the following trading platform screen. You will be directed here after entering the username and password which should have been sent to your email: demo trading platform

    You are now in and ready to trade on the proprietary trading platform.

    Step 6 – Choosing Your Demo Account Platform

    The choice of demo trading platform with is an easy one. As you can see from above, once you have completed the registration process, you are automatically guided to the platform.

    There is an option to login to the MT4 web platform which also provides access to, however, the demo account which is automatically chosen for those under CySEC regulation uses the proprietary trading platform. Demo Account Review

    Now that you are in, and your demo account is up and running, here are a few things you may wish to know about the account itself.

    What Types of Demo Account are Available?

    While there are a few account types including Professional, DMA, and commission accounts, the only account type used for opening a demo account is a retail account. These are used as the base for all demo accounts through the broker.

    Another important aspect to note will be that you are only permitted to open one account per trading platform. That means one for platform and one for the MT4 platform. Demo Account Features, Restrictions and Differences with Live Account

    As you would expect, there are some similarities and differences when it comes to a demo account. In fact, the demo account precisely replicates what you can expect with a live trading account.

    The only thing which you can never account for in a demo account, which may occur in live trading is slippage. Aside from this, you will receive no surprises when you upgrade.  Also, the demo account period is restricted to 30-days.

    Advantages of Trading with a Demo Account

    The major advantage with the demo account, as with all demo account is the fact that you are not taking any risks. This allows you to learn your craft if you are a beginner, or adjust to the new environment if you are an experienced trader.

    Either way, this key benefit is one which is common across all forex trading demo accounts, and the fact that a demo account replicates a live account in perfect detail can be very helpful to your future trading potential.

    If you want to know even more about your new account, you can read our reviews article. Demo Account Management

    The final area we will touch on is a few things which you may encounter during the running of your demo account. This will help you to manage the issues if they do come up at any point.

    Expiring Time

    As we mentioned above, the demo account trial period is limited to 30 days. Once this 30-day period is complete, users will typically move on to a live account.

    If for any reason you do not feel prepared to do this, the best thing you can do is contact the broker support team at and see if they can find an accommodating solution.

    During your demo account period, you do not need to worry about inactivity as this is not an issue at all within the 30 day period. 

    Restoring expired demo accounts

    The answer to this question is again very simple. You cannot restore a demo account which has expired. If you do wish to continue trading on a demo account, the best thing you can do is contact the support team. 

    Keeping you better informed

    Find and compare the best
    Online brokers for you

    Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
    Copyright © 2020 – All rights reserved. / Privacy Policy / Basic Terms of Use / Sitemap