Moneta Markets demo account: opening, features and duration (2024)
The Moneta Markets demo account is a practice trading platform provided with virtual funds by the Moneta Markets brokerage, designed to simulate real-world trading conditions without the risk of losing real money.
This article is going to detail a step-by-step guide on how to open a Moneta Markets demo account, what you can do with it, and how long you can trade with Moneta Markets virtual funds.
The main features of the Moneta Markets demo account are listed below:
- 30-days trial
- Free to open
- Easy to open
- MT4, MT5, ProTrader, WebTrader available
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.
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.
How long does Moneta Markets’ demo account last?
The Moneta Markets demo account lasts for 30 days.
However, the demo account duration at Moneta Markets can be extended by contacting the broker’s support team. You can’t open multiple demo accounts with the same email.
The Moneta Markets demo account main features and characteristics are detailed in the table below:
Moneta Markets demo account | Characteristics |
---|---|
Demo available | Yes |
Trial duration | 30 days |
Demo platforms | MT4, MT5 and WebTrader |
Virtual money amount | $100,000 |
Customizable features | Yes |
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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.
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
To find out more about Moneta Markets’s characteristics, features, pros and cons and opinions, check out our “Moneta Markets review“.