FP Markets is one of the best brokers which ensure clients a safe trading environment, including a top demo account.
Keep reading and you are going to find a step-by-step guide on how to open a demo account on the FP Markets platform, alongside with all the perks offered.
Main features of the FP Markets demo account:
- 30-days trial
- It’s totally free
- Easy to open
- All live account markets and assets available
- You can install EAs
Table of Content
|FP Markets demo account||Characteristics|
|Trial duration||30 days|
|Demo platforms||MT4, MT5, IRESS, WebTrader|
|Virtual money amount||$100,000|
Visit FP Markets (74-89% of retail CFD accounts lose money)
FP Markets demo account opening tutorial: step by step procedure
Here we will guide you step-by-step through the FP Markets demo account opening process.
Step 1: Visit the FP Markets’ website
Visit the FP Markets website (74-89% of retail CFD accounts lose money). The link will lead you to the homepage and from there you will be able to select the option to open a demo account.
If you’re based in the European Union, the broker may ask you if you want to be redirected to the website run by the CySEC regulated branch of FP Markets.
Step 2: Fill the registration form
FP Markets requires no documents in order to let you open a demo account with them. It just requires very basic information such as:
- A valid email address
- A valid phone number
- First and last name
- Country of residence
Step 3: Customize the demo account
Here you will have to complete the form with some personal information. You must also choose some additional options related to your demo account including:
- Trading platform (MT4, MT5, IRESS, Webtrader)
- Account Type
- Base Currency of the Account
Step 4: Verify your profile
FP Markets will send you an email with all the account details you need to login into your demo account.
Step 5: Login into the demo account
Open your selected trading platform, launch it, and insert the information FP Markets has provided.
If you choose and download either MT4 or MT5, the broker will send you the MetaTrader login details you will need to enter the platform. The below image is what you should see when you login to the webtrader platform of FP Markets.
FP Markets’ demo account features
The FP Markets account opening process is simple. You just need a valid email address and valid phone number. The account is valid for 30 days and you can open up to 10 demo accounts with the same email address. More than 150 markets are tradable on MT4, and more than 4,600 through MT5. $100,000 in virtual currency is made available.
MT4, MT5, IRESS, and WebTrader are available depending on your location. Educational tutorials such as an introduction to CFDs, technical analysis, and how to set up the platform are also provided as well as a copy trading platform so that you can copy the trades of experts.
Differences between live and demo FP Markets accounts
The major difference between a live and demo is slippage, which will only happen in live accounts. Slippage is the difference between your requested order price and the order’s execution price. When price changes quickly, your order can be executed at a different price compared to when the order was opened.
Unlike other forex brokers with an unlimited demo account, the FP Markets demo trial lasts for 30 days. However, it’s possible to open a new one when the previous one expires. For live accounts, there is no inactivity fee.
How to switch to a live account
When switching to a live account, your demo account won’t expire. To open a live account you will need to upload proof of your identity (Passport, ID, or Driver’s License) and proof of your residence (Bill utility or bank statement) so that your account can be verified.
Depending on the country, you may get asked to fill out a questionnaire to check your trading experience. As soon as your account gets verified, you can make the first FP Markets minimum deposit of at least $100 to start trading.
How to best use your FP Markets demo account
Here are some tips on how to get the best out of your FP Markets demo account.
- Set up your demo account as you would set up a real account: platform, currency, account types
- 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
- Study and integrate knowledge with the tools educational tools provided, including the copy and social trading feature through the MT4 and MT5
Pros and cons of the FP Markets demo account
- Easy to open
- Good range of account types to try
- It lasts 30-days only
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