XTB Demo Account: Opening & Key Information (2023)
This post will cover all the info you should be aware of when opening a demo account with the broker XTB.
The InvestinGoal team has compiled this guide to provide insight on the XTB demo account and the account opening process you can expect to encounter.
Main features of the XTB Demo Account:
- 30-days trial
- It’s totally free
- Easy to open
- All live account markets and assets available
- Free educational content included
|XTB demo account||Characteristics|
|Trial duration||30 days|
|Virtual money amount||$100.000|
Visit XTB (79% of retail CFD accounts lose money).
XTB demo account opening tutorial: step by step procedure
In this section we will guide you precisely through every step of the process.
Step 1: Visit the XTB’s website
Go to the broker’s website (79% of retail CFD accounts lose money) and click “demo” in the top right corner of the homepage.
Step 2: Fill the registration form
You will be directed to complete a short registration where XTB requires you to provide a valid email address and your country of residence.
Step 3: Customize the demo account
Once you have completed the very basic registration, you will be directed to a more detailed form.
You will be asked for your name, your telephone number, the trading platform you are planning to use, the account type and a secure password.
Again at this step, the broker will not require the trader to provide further information other than a phone number, name, and an email address.
Step 4: Verify your profile
This step is optional because XTB won’t require you to confirm the information provided right away. In fact you can already begin trading on your demo account.
However, in case you are planning to open a live account and you want to already confirm the account to avoid doing it in the future, you will find the XTB confirmation email in your inbox.
Step 5: Login into the demo account
XTB should then redirect you directly to the webtrader trading platform. In case it doesn’t redirect you to the trading platform, you should go back to the site and click the login button.
Here you will also see the option in the bottom left corner to open a real account at any time once you are comfortable in what you have learned trading through the demo account.
XTB’s demo account features
The opening of a demo account is very simple. A phone number and email address is all that is needed. The account itself is valid for 30-days and you can open multiple demo accounts but not with the same email.
There are more than 5,200 tradable markets and 100,000 EUR in virtual money available. The XStation platform is also available to try along with tools to speed up learning including, educational video tutorials, and more.
The XTB demo account is of very good quality, in fact we included it as first in our roundup of the best forex demo accounts with no time limit.
Differences between live and demo XTB accounts
XTB only provides a standard account to the vast majority of its traders worldwide, which is also the only demo account type that is available.
There is just one difference between live trading and demo trading with XTB, and that is slippage: this is the rare occurrence in a volatile live market where the execution price may vary slightly from the order price. Slippage cannot occur on a demo account using virtual currency.
One major limitation is that the demo trial period only lasts 30 days, however it can be renewed indefinitely. With Live accounts, you can get charged an inactivity fee of $10 per month after 1 year of inactivity
How to switch to a live account
When switching to a live account, you will still be able to trade through your XTB demo account.
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, you may get asked to fill a questionnaire about your trading knowledge and experience.
When your account is verified, you can fund it with your first XTB minimum deposit.
How to best use your XTB demo account
Here are some useful tips on how to get the best from your XTB demo account.
- Set up your XTB demo account as you would set up a real account including the platform and account type
- Do not open large positions if you are not planning to trade with large amounts of money
- Treat money as if it were real
- Practice daily
- XTB offers one of the most equipped educational materials out there, some of them can be found directly in the demo. Make sure to utilize this content
Pros and cons of the XTB demo account
- The demo period can be renewed
- Easy to open
- Great educational content
- It lasts 30 days only
- Only one account per email
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