Prior to trading on a live account, we recommend that you open a training account which does not differs much from a live account, except for virtual profits and losses.
Working on a demo account, you do not risk losing your money and can do the following:
- gain practical trading experience on Forex
- learn the process of currency market analysis
- try dealing with real quotes in a real time mode and improve your trading strategy without risks
- develop your own money management system
- gain practical experience working with MetaTrader
Steps to open a demo account are as follows:
1. It is only possible to open an account at a trader’s terminal. You can download it here.
2. After the setup file is downloaded, install the program.
3. After the program is installed, launch the terminal. Now you can open an account. In the menu click File and then Open Account.
4. Fill in the registration form. Specify the type of an account you would like to open. Also choose the initial deposit amount for your training account - this amount in virtual money will be automatically reflected on your training account in USD.
5. After all the fields are filled in correctly, and you have adjusted the settings, make sure that “Receive News Via Email” has a tick, and then press the “Next” button. You should then get your account number and password. Please keep them in a safe place and do not forget them.
You may have as many demo accounts as you wish, so you can always open another demo account to work out a new strategy on your terminal.