The FxPro demo account provides a risk-free environment for traders to practice on real market conditions using virtual funds. FxPro offers this account to allow users to experience its platforms without financial risk while testing trading strategies. The registration process requires users to visit the FxPro website, complete a form, and verify their profile before accessing the demo environment.
The demo account includes access to MT4, MT5, cTrader, and the FxPro proprietary platform. Users select their preferred leverage, base currency, and initial virtual balance up to $100,000. All market instruments available in live accounts are included, and traders can install Expert Advisors (EAs) to automate strategies. The platform provides real-time market data, balance resets, and the ability to open multiple demo accounts.
The FxPro demo account remains active for 180 days. After this period, users must create a new demo account if they wish to continue practicing. Unlike live accounts, demo trading does not include slippage or emotional pressure associated with real money. Traders can transition to a live account by verifying their identity and making a minimum deposit of $100.
How to open a FxPro demo account?
There are five steps to open a FxPro demo account. These are to visit the FxPro’s website, fill the registration form, verify your profile, login into the demo account and customize the demo account. The different steps to open a FxPro demo account are listed below.
First, visit the FxPro’s website. To open a FxPro demo account, it is necessary to visit the FxPro homepage and click the link below the “Open Trading Account” button.
Second, fill the registration form. On the first screen, you will need to enter your country of residence, your full name, the email address and choose a secure password.
Once you have entered your country of residence, full name, email address, and created a safe password, the broker will require further user information.
Once you have entered your country of residence, full name, email address, and created a safe password, the broker will require further user information.
The information they require becomes progressively more detailed and on the next screens you should enter the details as accurately as possible.
FxPro requires traders’ personal information to be compliant with the laws. FxPro ensures traders are aware of all of the risks and issues which come with trading forex and other instruments. KYC (Know Your Customer) procedures need to be completed in order to generate the profile of the trader, and so the broker can tailor its support and services to the user. The final page of the registration form requires you to select your preferred language and read the terms and conditions of the broker.
Third, verify your profile. You will receive an email with your trading platform login information, but you do not need to confirm your email address to access your account dashboard with FxPro.
Fourth, login into the demo account. After this, you will be able to login into the FxPro Direct website section. From here you can manage your account information as well as monitor the state of your trading accounts. Select the option to open a new demo account.
Last step, customize the demo account. After clicking, you will be able to select a platform between MT4, MT5, cTrader or FxPro webtrader as well as your leverage, base currency, and the amount of virtual funds to add to your account. If you choose the cTrader, MT4 or MT5 platform, the broker will send you your personal login details to enter the platform.
What are the features of the FxPro demo account?
The features of the FxPro demo account are listed below.
- Trading Platforms: The FxPro demo account offers access to several trading platforms, including MT4, MT5, cTrader, and the FxPro Trading Platform. These platforms allow traders to practice their strategies in a risk-free environment.
- Virtual Money: The FxPro demo account provides traders with up to $100.000 in virtual money. This amount can be customized according to the trader’s preferences when setting up the account.
- Tradable Instruments: The FxPro demo account provides access to all tradable instruments available on their platforms.
- Leverage: Leverage is available in the FxPro demo account.
- Real-Time Market Data: The FxPro demo account includes real-time market data. This feature allows users to experience trading conditions similar to live accounts.
- Time Limit: There is a time limit of 180 days for using the FxPro demo account.
- Balance Reset: Users can reset the FxPro demo account balance if needed.
- Multiple Accounts: Traders can open multiple FxPro demo accounts without any restrictions.
- Educational Resources: The FxPro demo account includes educational resources to help users improve their trading skills.
- Trading Strategies: Traders can practice trading strategies on the FxPro demo account.
- Customer Support: Customer support is available for FxPro demo account users to provide assistance as needed.
The FxPro demo account main features and characteristics are detailed in the table below.
| FxPro demo account | Characteristics |
|---|---|
| Demo available | Yes |
| Trial duration | 180 days |
| Demo platforms | MT4, MT5, cTrader, Proprietary trading platform |
| Virtual money amount | Up to $100,000 |
| Customizable features | Yes |
What is the difference between a live and demo FxPro account?
The differences between FxPro demo and live accounts involve real vs. virtual funds and the presence of trading psychology in live trading. FxPro demo accounts simulate trading conditions but can’t replicate the emotional impact of real money. Slippage is present in live FxPro accounts but not in demo.
Demo accounts allow traders to practice in a risk-free environment, while in live accounts, traders trade with real money. This involves financial risks, as losses have a direct impact on traders’ capital.
Demo accounts try to replicate real market conditions, but factors such as commissions and slippage can lead to differences in the market execution compared to live trading. When trading in real, the lack of liquidity can produce differences between the requested order price and the order’s execution price, known as Slippage. This can sometimes occur during live trading, but does not occur on a demo account as all funds used are virtual.
In live accounts, traders encounter costs, such as commissions, spread and other transaction costs, which affect traders’ earnings, while in the demo account there are no transaction costs and commissions are low or equal to zero. For Live accounts, there is a $10/month fee after 6 months of inactivity, while the demo accounts are valid for 180 days without any cost.
How to switch from a FxPro demo to a FxPro live account?
There are three steps to switch from a FxPro demo to a FxPro live account. These are to provide proof of your identity, verify your account and make the first deposit. The different steps to switch from a FxPro demo to a FxPro live account are listed below.
First, you need to provide proof of your identity (Passport, ID or Driver License) and proof of your residence (Bill utility or bank statement) to get verified. Depending on the country, FxPro may ask more questions to check your trading experience.
Second, FxPro will verify your account. This step confirms that your identity and residence have been authenticated.
Finally, once you have completed FxPro verification, make your first deposit and start trading. The first FxPro minimum deposit is $100. When switching to a live account, your demo will still be available.
How to best use a FxPro demo account?
To best use a FxPro demo account you have to set up the demo account as you would set up a real account, avoid opening large positions, practice daily and use the learning materials offered by FxPro.
Set up the demo account just as you would a real one by selecting the appropriate trading platform, currency, balance, and account type. This will help you create a realistic trading environment and prepare you for actual market conditions.
Avoid opening large positions unless you plan to trade with significant amounts of money in a real account. Treat the virtual funds as if they were real to develop disciplined trading habits and risk management skills.
Make practice a daily routine by engaging with the platform regularly. This will help you become familiar with its features and improve your trading strategies over time. Take advantage of the educational section provided by FxPro to enhance your knowledge.
Use the learning materials available through FxPro, including articles and video tutorials. These resources can help you understand market trends, technical analysis, and trading strategies, making your demo experience more effective.
What are the advantages of a FxPro demo account?
The advantages of a FxPro demo account are listed below.
- Good choice of trading platforms: allows traders to choose between MT4, MT5, cTrader and FxPro webtrader
- FxPro Edge platform: is focused on spread betting (available only for UK users)
- Unlimited Accounts: you can open as many demo accounts as you need
- Risk-Free Environment: allows traders to practice trading techniques and strategies without risking real money
- Knowing the platform: allows traders to learn and familiarize themselves with the platform offered by broker
What are the disadvantages of a FxPro demo account?
The disadvantages of a FxPro demo account are listed below.
- Trial duration: the FxPro demo accounts are valid for only 180 days
- Opening process: the opening process can be long and complicated
- Trading platform limit: MT4 and MT5 demo accounts are limited to a maximum of 70 positions
- Ignoring risk management: traders use virtual money and may not fully understand the importance of risk management
- Lack of the psychological factor: it can lead to a false sense of security
To find out more about FxPro’s characteristics, features, pros and cons and opinions, check out our “FxPro review“.