Markets.com Demo Account: Opening & Key Information (2023)
The following article is going to cover every info you should know when opening a Markets.com demo account.
We have examined the Markets.com demo account and compiled this step-by-step guide on opening your demo account as well as analyzing the key features you will find.
Main features of the Markets.com Demo Account:
- It’s unlimited
- Free to open
- Easy to open
- $10,000 virtual currency to invest
- Switch to live on the same platform
|Demo Platforms||MT4, MT5, Proprietary Platform|
|Virtual Money Amount||$10.000|
Visit Markets.com (79,90% of retail CFD accounts lose money)
Markets.com Demo Account Opening Tutorial: Step by step procedure
This section will show a step by step guide on how to open a demo account with the broker.
Step 1: Visit the Markets.com’s website
To open a Demo account with Markets.com, you need to register and sign up by visiting the Markets.com website (79,90% of retail CFD accounts lose money).
To start the process, click on “create account” in the top right corner.
Step 2: Fill the registration form
In this step, you will be required to provide a valid email address, and create a password. Then you will need to choose your account type and your preferred account currency.
To skip this process, you can also sign up with your Facebook, Google or AppleID.
Then you will be asked to select your citizenship and country of residence, as well as confirming whether or not you’re a US citizen. After making your choices, you will be asked for additional information on your wealth and experience level. This is not mandatory. To skip the process, click on the “x” and you will be redirected to the trading platform.
Step 3: Verify your profile
Once you submit the form, you will get an email with your account details; you can then click the attached link to verify your email address and complete the confirmation of your account.
Step 4: Login into the demo account
After completing the second step you will be redirected to the live section of the trading platform which requires you to verify your identity to proceed.
To switch to the demo section you must click on the top-right corner menu and select “switch to demo”. You will be able to trade with 10,000 virtual USD.
When choosing MT4 or MT5, you just need to download and install it and the broker will send you the specific login details by email to access. the platform.
Markets.com’s demo account features
Opening a demo is very simple with Markets.com. All you need is a valid email address. The account is unlimited in duration though it is not possible to open multiple accounts with the same email. There are more than 2,200 tradable markets with $10,000 in virtual currency available.
MT4 and MT5 platforms are available to try, as well as the proprietary platform Marketsx. Educational materials, including articles, analysis and XRay, which is a tailored, personalized financial live-stream service are all accessible.
Differences between live and demo Markets.com accounts
Markets.com offers two account types, however the only demo account made available by the broker is the MarketsX account, which is for CFD and margin trading.
The main difference you’ll find between a demo and a live account is Slippage. This term refers to the difference between your price’s initial order request and the actual order’s execution price. This happens in live accounts due to the nature of the volatility of prices, but it won’t happen in a demo since it’s filled with virtual money.
Markets.com Demo account is unlimited. However, if you are inactive for 90 days your Demo Account will be disabled. For live accounts, you’ll get charged an inactivity fee of $10 per month after 3 months of inactivity.
How to switch to a live account
When switching to a live account, the demo account can still be used. 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) on the broker’s website.
Depending on the country, Markets.com may ask you to fill a questionnaire about your trading experience. As soon as your account gets verified, you will be able to proceed with your Markets.com minimum deposit in order to start trading
How to best use your Markets.com demo account
Here is a closer look at how to get the most from your Markets.com demo account.
- 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 were trading via a live account
- Practice daily
- Utilize the educational content and tools offered by Markets.com mentioned above
Pros and cons of the Markets.com demo account
- Wide range of tradable assets
- Only one demo account type available
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