Forex Demo Account
If you are a novice trader, the FXOpen free demo account can help you practice Forex trading without putting real money at risk.
A Forex demo account lets you trade in real trading conditions without the risk of losing real money. It's a safe environment for beginners to make their first steps in the world of Forex trading, where they can learn, practice, and try different trading strategies.
What is a demo account?
A demo account is no different from the real one in terms of functionality: it replicates the live trading environment but requires no real-money deposit. The absence of financial risks in trading on a forex practice account allows you to objectively assess the situation on the market, while in real trading, there is a psychological aspect that can prevent cool-headed decision-making.
Thanks to a demo account, you can get acquainted with the Forex market and observe how your trading strategies perform in real market conditions. Also, you will become familiar with the TickTrader and Metatrader terminals, gain practical experience in Forex trading, develop and try your new trading styles.
How does a demo account work?
The demo account uses virtual funds and traders may independently choose the right time to switch to trading with real funds. A demo Forex account also includes access to the latest market data in real-time, as well as the ability to build your personal track records for analysis.
How to open a demo account?
The registration of a demo account is easy and doesn't require any document verification. To start trading on a demo account, you only have to fill out one small form.
As soon as you receive your account data (trading account number, trader password, investor password, and trading server address), enter it into MetaTrader 4, MetaTrader 5, or TickTrader and start your Forex education! FXOpen offers two types of demo accounts to match our live account types: ECN and STP.
How to use your demo account?
A demo account is a great tool to get to know the Forex market safely. It allows you to study the market in a risk-free mode while trading according to the real market conditions.
Also, a demo account is a great way to get acquainted with MT4, MT5, and TickTrader features and prevent user mistakes in real accounts.
Traders with experience can also use demo accounts to test various trading strategies online. Therefore, the situation when a real account holder has several demo accounts is common.
What is the best demo trading account?
The best Forex demo accounts allow you to simulate trading processes with no limitations other than using imitation funds. With a good demo account, you should be able to use the software you like and feel no limitations to your trading style while being exposed to the markets of your choice.
What is the difference between a demo and a live trading account?
As mentioned above, the main difference is that you use imitated funds when working with a demo account. Therefore, you should be prepared to overcome the psychological barrier when you move to a real account because trading in the Forex market involves the risk of losing some or all of your deposit.
Are demo accounts real?
You can't earn real money by trading on a demo account, but you can earn something very valuable, namely experience and knowledge.
Is demo trading really useful?
Trading on demo accounts is by all means useful. A demo account is a great way for beginner traders to gain the necessary trading skills, learn about the currency market, and get acquainted with the provided trading platforms without thinking about risk, test a selected trading strategy or trading robots.
By creating a demo account on FXOpen, you will gain access to all trading instruments and use the real MetaTrader trading terminal.
What are the types of demo accounts offered by FXOpen?
FXOpen ECN demo account introduces you to a unique electronic communication network that links different participants of the Forex market: banks, centralized exchanges, other brokers and companies, and private investors where all trading styles and strategies are allowed. As a trader, you’ll have access to FX Spot, CFD crypto, CFD metals, CFD commodities, CFD stocks, and CFD indexes.
An STP demo account, unlike an ECN account, includes the broker's trading commission in the spread. STP demo accounts also represent all the benefits of ECN real market execution. You have access to trading instruments of Forex and metal markets (FX Spot and CFD metals).