Moneta Markets Demo Account: Opening Tutorial and Review

The InvestinGoal reviewers have conducted this analysis of the Moneta Markets demo account offered by the broker.

Here, we looked closely at the account set-up process, available trading platforms, and other key features.

Main features of the Moneta Markets Demo Account:

• 30-days demo trial
• Free to open
• Easy to open
• MT4, MT5, ProTrader and WebTrader

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Moneta Markets Demo Account Opening Tutorial: Step by step procedure

In this section we will explain how to open a Moneta Markets demo account.

Step 1: Visit the Moneta Markets’ website

Visit the Moneta Markets website and click on the white button “Demo” situated in the top-right corner of the page. This will redirect you to the correct registration form for a demo account.

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Step 2: Fill the registration form

After clicking the demo account button, the registration form as you see below will appear. Fill in this form with your name, last name, phone number, email, and password.

Step 3: Verify your profile

Shortly after registration, you will receive an email that will include your account details along with a link to download the trading platform.

Step 4: Login into the demo account

Moneta Markets will provide you the user information needed to connect to the MetaTrader servers of the broker. Download and install the trading platform. Once it’s running it requires you to insert the data the broker has provided to your email address.

Moneta Markets’ demo account features

Opening a demo is very simple with Moneta Markets. Your email and phone number are all you need to open it. The account is valid for 30 days and multiple accounts can’t be opened with the same email, though it may depend on your location. There are more than 1020 tradable markets in total and MT4, MT5, ProTrader, Moneta WebTrader Platform, and Moneta AppTrader are all available. Educational materials, including video tutorials and more, are also offered.

Differences between live and demo Moneta Markets accounts

There are several account types available as demo accounts with Moneta Markets. The top choices are the Prime ECN and Direct STP accounts.

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.

The Moneta Markets demo account is limited to a 30-day trial period. This may be extended by contacting the Moneta Markets support team. If you switch to a live account be aware that you won’t be charged an inactivity fee in case you’re inactive.

How to switch to a live account

When switching to a live account, the demo will be available anyway until it expires. To open a live account you will have to give 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, Moneta Markets may ask you to fill out a questionnaire about your trading experience. As soon as your account gets verified, you will be able to proceed with your Moneta Markets minimum deposit, which is $50 for an STP account, in order to start trading.

How to best use your Moneta Markets demo account

Here are some tips on how to get the most out of your Moneta Markets 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’re trading with a live account
• Practice daily to train your skills in a more effective way
• Study the educational material offered by Moneta Markets

Pros and cons of the Moneta Markets demo account

Pros:

• Easy to open
• Customizable features

Cons:

• 30-days trial