The IC Markets demo account serves as a trading simulation platform with virtual funds, replicating real-market conditions without financial risk. Traders open an account by visiting the IC Markets website, completing a registration form with personal details, selecting a trading platform, and setting account parameters such as account type, currency, virtual balance, and leverage. Once the setup is complete, IC Markets sends login credentials via email, granting access to the chosen trading platform.
The IC Markets demo account grants access to MetaTrader 4, MetaTrader 5, and cTrader platforms. It supports all instruments available in live accounts, including forex, indices, commodities, and cryptocurrencies. Virtual balances range from $200 to $5,000,000, with leverage options up to 1:500, depending on regulations. The demo account includes real-time market data, expert advisor compatibility, and unlimited usage. Traders can reset their balance, open multiple accounts, and access educational materials such as webinars, tutorials, and strategy guides.
The IC Markets demo account remains active without time restrictions, allowing traders to refine strategies indefinitely. Users maintain access until account inactivity triggers automatic closure. If an account closes, traders create a new demo account without restrictions. The absence of a time limit ensures extended practice opportunities before transitioning to live trading.
How to open an IC Markets demo account?
There are four steps to open an IC Markets demo account. These are to visit IC Markets’s website, fill the registration form, customize the demo account and login into the demo account. The different steps to open an IC Markets demo account are listed below.
First, visit the IC Markets’ website. To open your IC Markets’ demo account, it is necessary to visit their official website. When you look at the front page of the website, the very first thing that you will see is that there is the ability to either start trading live money, or to try a free demo account. Click on the “try a free demo” button to start the process
Second, fill the IC Markets registration form. Complete the registration form with your personal details such as your first and last name, email address, phone number and the country of residence. You also have to agree to the Terms and Conditions of the broker.
Third, customize the demo account. You can choose between cTrader, MetaTrader 4, and MetaTrader 5. The next step requires you to choose the characteristics of your demo account. These include:
- The IC Markets account type, which includes the true ECN and Standard accounts
- The IC Markets account currency, which decides the currency of your virtual funds. Choose the currency of your country of residence for improving the trading simulation. If you cannot find it, USD is the most common choice for most traders.
- The IC Markets amount of virtual funds, which start from $200 to $5’000’000. Choose the amount you are most likely willing to deposit in order to learn if the trading strategies you are planning to follow are compatible with your budget.
- The desired IC Markets maximum leverage, which ranges from 1:1 to 1:500 depending on your country of residence.
Last step, login into the demo account. In order to connect to MetaTrader or cTrader broker’s servers, you require specific login details. Once you have chosen the trading platform and the demo account is opened, these will be sent to you via email.
What are the features of the IC Markets demo account?
The features of the IC Markets demo account are listed below.
- Trading Platforms: The IC Markets demo account offers access to several trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader.
- Virtual Money: The IC Markets demo account provides traders with up to $5.000.000 in virtual money. This amount can be customized according to the trader’s preferences when setting up the account.
- Tradable Instruments: The IC Markets demo account offers access to all tradable instruments available on their live accounts.
- Leverage: Leverage is available in the IC Markets demo account.
- Real-Time Data: The IC Markets demo account includes real-time market data. This feature allows traders to practice with current market conditions.
- Time Limit: There is no time limit on using the IC Markets demo account.
- Account Balance Reset: Traders can reset the IC Markets demo account balance if needed.
- Multiple Accounts: Traders can open multiple IC Markets demo accounts without any restrictions.
- Educational Resources: The IC Markets demo account includes educational resources such as platform tutorial videos, quality educational texts, and webinars to help traders improve their skills.
- Trading Strategies: Traders can practice trading strategies on the IC Markets demo account. It allows traders to test their strategies and expert advisors (EAs) in a risk-free environment.
- Customer Support: Customer support is available for IC Markets demo account users to provide assistance through various channels such as live chat.
The IC Markets demo account main features and characteristics are detailed in the table below.
| IC Markets Demo Account | Characteristics |
|---|---|
| Demo available | Yes |
| Trial duration | Unlimited |
| Demo platforms | MT4, MT5, cTrader |
| Virtual money amount | Up to $5,000,000 |
| Customizable features | Yes |
What is the difference between a live and demo IC Markets account?
The differences between IC Markets demo and live accounts involve real vs. virtual funds. An IC Markets demo account provides simulated trading without risking money, while an IC Markets live account involves real investments with potential gains or losses. The demo account lacks trading psychology exposure and slippage, which are present in live accounts.
In demo accounts, traders practice with virtual money without the fear of losses, while in live accounts, traders operate 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. When price changes quickly, your order can be executed at a different price compared to when the order was opened. Slippage will not happen in a demo account because it’s filled with virtual money.
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.
How to switch from an IC Markets demo to an IC Markets live account?
There are three steps to switch from an IC Markets demo to an IC Markets live account. These are to provide proof of your identity, verify your account and make the first deposit. The different steps to switch from an IC Markets demo to an IC Markets live account are listed below.
First, 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, IC Markets may ask to fill a questionnaire about your trading knowledge.
Second, IC Markets will verify your account. This step confirms that your identity and residence have been authenticated.
Finally, make your first deposit and start trading. The broker does not require a minimum deposit. When switching to a live account, traders will still get the possibility to use your IC Markets demo.
How to best use an IC Markets demo account?
To best use an IC Markets demo account, traders should replicate real trading conditions, manage position sizes realistically, treat virtual funds seriously, and practice consistently with structured goals. Setting up the demo account correctly and following disciplined trading habits will help build essential skills before transitioning to a live account.
Set up your IC Markets demo account as you would a real account. Choose the same platform, leverage, currency, balance, and account type to create a realistic trading environment. This will help you understand how your trades would perform under actual market conditions.
Avoid opening large positions unless you plan to trade with large amounts of money in a live account. Keeping your trades realistic ensures that your strategies remain practical and applicable when transitioning to real trading.
Treat the virtual money in your demo account as if it were real. This mindset helps build discipline, emotional control, and risk management skills, which are essential for long-term success in trading.
Make practice a daily habit and take advantage of IC Markets’ educational resources. Studying market trends and using the broker’s rich learning materials will strengthen your trading knowledge and improve your decision-making over time.
What are the advantages of an IC Markets demo account?
The advantages of an IC Markets demo account are listed below.
- Trial duration: the IC Markets demo account is unlimited
- Good choice of trading platforms: allows traders to choose between MT4, MT5 and cTrader
- Highly customizable: allows traders to choose the account type, the account currency, the amount of virtual funds and the maximum leverage
- 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
What are the disadvantages of an IC Markets demo account?
The disadvantages of an IC Markets demo account are listed below.
- Lack of the psychological factor: it can lead to a false sense of security
- No slippage: demo accounts allow you to execute orders at the requested price and can lead to unrealistic expectations of the markets
- Ignoring risk management: traders use virtual money and may not fully understand the importance of risk management
To find out more about IC Markets’ characteristics, features, pros and cons and opinions, check out our “IC Markets review“.