Pepperstone Demo Account: Opening & Key Information (2023)
Pepperstone is one of the many top forex brokers offering a free demo account that is easy and quick to set up.
InvestinGoal’s team of industry experts has reviewed all aspects of Pepperstone’s free demo account, including the features and how to set up the account.
The main features of the Pepperstone demo account:
- 30-day trial
- Ability to open multiple demo accounts
- Totally free
- Easy to open
- Good range of platforms
- $50,000 virtual currency to invest
- All live account markets and assets available
- EAs can be installed
|Peppestone demo account||Characteristics|
|Trial duration||30 days for MT4 and MT5 accounts;
Unlimited for cTrader accounts
|Demo platforms||MT4, MT5, cTrader|
|Virtual money amount||$50.000|
(75.9% of retail CFD accounts lose money)
Pepperstone demo account opening tutorial
Here is our step-by-step tutorial on everything you need to know about opening your Pepperstone demo account.
Step 1: visit the website of Pepperstone
To open your Pepperstone demo account, you will need to visit the broker website.
Once on the homepage, you will be presented with a red button to ‘Join now’ and a white clickable link beside it offering ‘or try demo’.
(75.9% of retail CFD accounts lose money)
Step 2: fill out the registration form
The information you need when signing up for a Pepperstone demo account is minimal. Once you have clicked the demo account button above, you will be directed to a registration page.
You will be asked to confirm the following things:
- Which platform type you are looking to trial and download
- Your date of birth to confirm that you are over 18 years old
- Your name, address, and contact details including phone number and email address
- Choose a secure password
You also have the choice of signing up for a Pepperstone demo account through your Facebook, LinkedIn, or Google account to make the process even easier.
As Pepperstone is well-regulated by both ASIC and the FCA, you do not need to worry at all about the security of the process or your data.
Step 3: verify your profile
Once you have completed the basic personal information required to open your Pepperstone demo account, either through the registration form or your social media channels, you will be asked to confirm your email address.
This is an email you should automatically have received when submitting your application, and it’s as simple as clicking the link in the email. From there, your Pepperstone demo account is essentially ready to use. You will be greeted with the following screen:
Step 4: login into the demo account
Once you get the message that your account is ready, you will be provided with unique login MetaTrader details and will see two options as above for accessing your trading platform.
You can choose to use the Web Trader from Metatrader which will open in the browser. MT5 and cTrader platforms are also available.
Pepperstone’s demo account features
Here is a rundown of some of the key features of the Pepperstone demo account to aid with your decision-making.
It is very simple to open a demo account. Just a valid email address and a valid phone number are needed.
The demo account offered is valid for 30 days for MT4 and MT5 accounts, and unlimited for cTrader accounts. Multiple demo accounts can be opened with the same email address and there are 180+ CFD assets, just like for the live account.
50,000 £/€/$ in virtual money is available for demo account trading and access to MT4, MT5, and cTrader platforms are all offered.
There is also a wide range of educational materials including tutorial videos, or the possibility to engage in copy trading of other traders and experts.
Differences between live and demo Pepperstone accounts
Peppertone offers all account types as demo accounts including both the Razor or Standard accounts for all platforms.
The major difference between demo and live accounts is the possibility of slippage. Slippage is the difference between your requested order price and the real order’s execution price. This happens because prices change quickly and as a consequence, your order can be executed at a different price than when the order was initiated.
There are no inactivity fees with Pepperstone for live or demo accounts. The cTrader demo account does not expire unless you have been inactive for 30 days. MT4 and MT5 demo accounts are valid for 30 days, after which, they may be closed but if you have a real account with enough balance you can ask to prevent the closure.
How to switch to a live account
Your demo account will remain available after switching to a live account.
To open a live account, you will need to provide the broker with proof of your identity (Passport, ID, or Driver’s Licence) and proof of your residence (Bill utility or bank statement). Depending on the country, you may also be asked to fill out a questionnaire about your trading knowledge.
After Pepperstone verification, your account can be funded to start trading. The broker does not require a specific minimum deposit.
With enough experience, you may be eligible for a Pepperstone professional account. The most popular account choice for pro traders is the Razor account, which features spreads from 0 pips and has a $7 per lot traded commission.
How to best use your Pepperstone demo account
Here are some tips on how to best use your Pepperstone demo account.
- Set it up just as you would a real account including platform and account type
- Open the same position size you intend to trade on a real account
- Trade in the same manner as you intend to with real money
- Practice daily
- Use all of the features and supports the broker provides
Pros and cons of the Pepperstone demo account
- Unlimited for cTrader accounts
- Good choice of trading platforms
- 30 days for an MT4 or MT5 account, though you can prevent it to be closed if you have enough balance on a real account
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