FXTM Demo Account: Opening Tutorial and Review

FXTM is a market leader offering top-notch financial services to a wide range of forex traders. The broker has a user-friendly and unlimited demo account.

Read on to discover what we have to say about the benefits of using a FXTM demo account and how to open a virtual account with FXTM for free.

Main features of the FXTM demo account:

• 30-days trial
• It’s totally free
• Highly customizable
• All live account markets and assets available
• You can install Eas

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FXTM demo account opening tutorial: step by step procedure

Below is a step by step guide on how to properly open an FXTM demo account:

Step 1: Visit the FXTM’s website

The first step to take is to visit the FXTM website (81% of retail CFD accounts lose money). Then look for the “open demo account” button to access the account opening form. Click on the button to complete the form with your details.

Step 2: Fill the registration form

Complete the account opening form by providing your name, surname, phone number, email, country of residence and password. Ensure you choose a strong password that a third-party will find it difficult to guess.

Step 3: Customize the demo account

After completing the form, choose the account type you would like, the account currency, the leverage, the password and the initial balance. Finally, click on the ‘open the account’ button.

Please ensure you provide only genuine information, as fake information may lead to the closure of your account with FXTM.

Step 4: Verify your profile

Once you submit your application, the broker will send you an email to confirm your account, alongside your details and provide a link to download the platform. However, you may also download the platform from your FXTM personal area, where you’ll find the whole list of the platforms available (image below).

You can download the desktop version of MT4 or MT5, or you can also choose the FXTM WebTrader. The FXTM Webtrader does not require a download.

Step 5: Login into the demo account

Now, you have a demo account with FXTM. Install the trading platform and use your details to login once it’s ready. If you choose MT4 or MT5, the broker will send you the MetaTrader login details by email.

If you chose the FXTM Webtrader platform, just click ‘launch’, add your details and click ‘ok’ in the window which appears to connect your account to the platform. Once all of the above have been done, everything is set for you to start trading with virtual money.

FXTM’s demo account features

The opening of an FXTM demo account is very simple. A phone number and email address is all you need. The account is valid for 30 days and multiple demo accounts cannot be opened with the same email address. There are more than 250 tradable markets and up to $1,000,000 in virtual currency to use.

MT4, MT5, and the FXTM Trader Mobile App are all available and educational video tutorials and copy trading service with a proprietary copy trading platform, FXTM Invest are also offered.

Differences between live and demo FXTM accounts

FXTM offers all their live accounts as demo versions. The account types are Micro, Advantage and Advantage Plus. At the moment, EU traders can only open a professional account, and no demo account is made available. If you’re based in Europe, you might consider choosing a forex demo account alternative.

Using a demo account means slippage does not occur, while it occurs in live accounts.

This is because slippage is the difference between the asked price and the price the trader actually pays. Slippage cannot occur in a demo account because trading positions are virtual.

The demo trial offered is 30 days. For live accounts, you’ll get charged a fee after being inactive for a period of 6 months. This fee is $5.

How to switch to a live account

When switching to a live account, the demo account won’t expire. 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) on the broker’s website. Depending on the country, the broker may ask you to fill a questionnaire about your trading experience. When your account gets verified by FXTM, you will be able to move forward with your FXTM first deposit in order to start trading.

How to best use your FXTM demo account

Here are a few tips on how to get the most from your FXTM demo account.

• Set up the FXTM demo account as you would set up a real account with account type, the account currency, the leverage and the initial balance.
• 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 to speed up the process of your improvements
• Use the FXTM educational tools offered.

Pros and cons of the FXTM demo account

Pros

• Easy to open
• All account types are available as demo
• Highly customizable

Cons

• Not available for EU traders
• 30 days trial

To learn more, read our FXTM review.