How to open a demo account

If you are just starting to try your hand at the financial markets as a trader, then you need to accumulate some knowledge and experience. At first, not everything will turn out smoothly, errors and miscalculations are inevitable. To learn the real trading of financial instruments without risking the loss of your investments, use a demo account. It allows you to make operations in real time, but not with real, but with virtual money.

You will need

Software (trading terminal), computer with Internet access

Instruction manual

1

For example, consider opening a demo account for trading on the interbank Forex currency market. First, select a company that provides the opportunity to enter the market (broker). Different brokers offer various types of trading equipment for currency transactions. The most common and popular among traders is the MetaTrader trading terminal. Almost all brokerage companies provide it for free.

2

Go to the home page of the site of your chosen brokerage company. Follow the link "Demo account".

3

From the page that opens, download the file containing the MetaTrader program to the hard drive of your computer. After downloading, run the installation exe-file and install the program on your computer, following the instructions that appear when unpacking the program. When installing the trading terminal, it is recommended to close all other programs running on the computer in order to avoid installation errors.

4

Run the installed program on your computer. After the first launch, MetaTrader will automatically offer you to create a demo account. To do this, fill out the form in the window that opens (conditional name of the account, your location, phone number, email address, etc.). Here, select the size of leverage and the initial amount of cash. Check the box "I agree to receive news by mail" and click "Next."

5

In the new window that opens, select one of the proposed trading servers (for a demo account, select the appropriate Demo server). Click the Scan button. After automatic scanning, click the "Next" button.

6

In the window that opens, you will see the assigned username, working password and investor password (it is intended only for viewing, without the right to carry out trading operations). Record this data and keep it out of the reach of unauthorized persons. Click "Finish" - this will complete the procedure for creating a demo account.

7

After registration, a line with the name of your account will appear in the window of the trading terminal called "Navigator" after registration. To perform virtual operations on the account, double-click on this line with the mouse, in the window that appears, enter the username and working password. The account is ready for transactions with virtual money.

note

Remember that a demo account is just a kind of training, game account. Placed there is not real, but virtual money. In the case of income, you can’t withdraw the funds you won from the account, but you can’t lose anything, of course.

Forex / Forex Demo Account