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The following article will cover every detail that needs to be known about the GO Markets demo account.
Our InvestinGoal team of experts has examined in-depth the GO Markets demo account including features, assets, account opening process and the trading environment.
Main features of the GO Markets demo account:
- $50.000 virtual funds
- It’s totally free
- Easy to open
- All live account markets and assets available (except for CFD shares)
Table of Content
|GO Markets Demo Account||Characteristics|
|Trial duration||30 days|
|Demo platforms||MT4, MT5, Proprietary WebTrader Platform|
|Virtual money platform||$50,000|
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(62% of retail CFD accounts lose money)
GO Markets Demo Account Opening Tutorial: Step by step procedure
Step 1: Visit the GO Markets’s website
The first thing you will need to do is head over to the broker’s website (62% of retail CFD accounts lose money).
From here you can just click ‘try free demo’ account and you will already be on the way to getting your account open.
Step 2: Fill the registration form
You will need to fill out the registration form with your personal information, as well as choose your account type, platform, and currency.
All this can be seen in the image below.
Step 3: Verify your profile
To confirm your GO Markets demo account, you should click the link in the email or SMS the broker will send you after submitting the demo.
Step 4: Login into the demo account
Based on your location, you will have a few different trading platforms you can choose for your demo account. MT4, MT5 (both desktop and mobile), and WebTrader are all available.
Once you decide on a platform and select it, the platform should download automatically.
If this does not happen, you can still download the platform from the website page which appeared after you submitted the registration form.
Finally, simply enter the details you have been sent to your email and SMS and log in to start trading.
GO Markets’ s demo account features
GO Markets requires a very simple opening process for a demo account, since a phone number and email address are all that are needed.
The account itself is valid for 30 days, but it turns into an unlimited one after opening a live account.
There will be $50,000 virtual money available within the demo account, with the Proprietary Webtrader, MT4 and MT5 trading platforms all provided. Educational materials are also provided by the broker to speed up learning, such as video tutorials and articles.
Differences between live and demo GO Markets accounts
The GO Markets demo account is available for every account type offered by the broker, but the availability may depend on your location. Anyway, the Plus and Standard demo accounts may be available for all clients.
The main difference between a live and demo is Slippage, the price difference between your requested order price and the real order’s execution price. This only happens in live accounts because prices move fastly and so the order can be executed at a different price than when the order was initiated.
The GO Markets demo lasts only 30 days and you can only open one demo account at a time. Anyway, after opening a live account, the demo version won’t expire.
For live accounts, there is an inactivity fee after 3 months of no trading activity, which of $15 per month for European clients though it may not be charged to others.
How to switch to a live account
When switching to a live account, the demo account will still be available for you..
To open a live account you will need to:
- upload a proof of your identity (Passport, ID, or Driver’s License);
- upload a proof of your residence (Bill utility or bank statement) on the broker’s website.
- fill a questionnaire about your trading knowledge (depending on your location).
As soon as your account gets verified by the broker, you can fund it with your first GO Markets minimum deposit.
How to best use your GO Market demo account
Here are some small tips on how to best utilize your GO Markets demo account.
- Set up the demo as you would set up a real account in terms of platform, currency, balance, leverage and account type
- Do not open large positions if you are not planning to trade with large amounts of money
- Treat money as if it were real as you’re using a live account
- Practice daily
- Use the video tutorials, articles and analysis tools offered by the broker
Pros and cons of the GO Markets demo account
- Good range of account types and platforms
- $50,000 virtual currency
- The demo lasts only 30 days
- The broker’s offering is not equal for all traders
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