EverFX Demo Account – Opening Process, Charges, Features, Benefits & moreLast Updated Date: Apr 27, 2022
Demo accounts are geared mainly for the beginners who want to invest their money via online trading but do not have experience and knowledge of how to start and what are the technicalities involved in online trading.
A demo account is a learning platform for potential traders that guide them on how to operate and utilize various automated trading tools of the professional trading account.
EverFX also offers a virtual trading platform to offer the same service to its users and help them achieve better trading opportunities and results.
In this review, read all about the EverFX demo account, its various features, and much more.
EverFX Demo Account
EverFX has designed its demo account with the same features and functions as it provides in its professional trading account.
The traders can use all the trading tools and features of the MetaTrader 4 trading terminal in the EverFX demo account and have a full-fledged idea of how to handle the MT4 trading account of EverFX.
The demo account of EverFX comes with various exclusive features such as 9-time frames, analytical objects, technical indicators, stop orders, etc.
At this virtual trading platform, the investors get a wide selection of trading apps and can trade in the major tradable assets in the live forex market with the virtual money they receive from the broker.
The risk-free environment that the demo account offers is the most significant aspect that makes the demo account an indispensable account.
The traders can first experience online trading on the demo account and after getting a thorough understanding of its operations and techniques, they can switch to the professional trading account.
Open Demo Account Now! – Zero Commission on Trades
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EverFX Demo Account Features
The EverFX demo account comes with lots of features. Apart from giving the direct exposure to online trading, it also provides many other services such as-
- At the EverFX demo account, the traders can access interactive charts, 3 execution modes, 4 pending orders, 2 market orders, 30 technical indicators, 2 stop orders and a trailing stop, 23 analytical objects, etc.
- It also offers interactive charts along with online quotes and 9 timeframes that allow the traders to scrutinize all the quotes and retort to price movements.
- The demo account also provides over 100+ technical indicators and 700+ trading robots free of charge and commercial products.
- The demo account provides the widest selection of trading apps throughout the world.
- The EverFX virtual trading platform offers all the features and trading tools of the MetaTrader 4 trading system where the traders can create complex trading strategies and execute them effectively. All the exclusive features and tools like instant execution, trading from a chart, stop order and trailing stop, the market and pending orders, trading history and tick charts, etc are accessible by the demo account holders.
- The traders can use the same features in the same way they can use in professional MetaTrader 4 account
- There are ample analytical tools and options in the demo account that if the market fluctuates or makes any movement, the trader can easily detect and react quickly.
EverFX Demo Account Charges
|Demo Account Details|
|Virtual Money||USD 10000|
EverFX demo account involves a free structure for all the services it provides.
The demo account is proposed to aid the new traders and the seasoned traders both in case they need assistance in handling the trading operations in the actual trading account.
Unlike the professional trading account, the demo account does not involve any charges such as commission charges, inactivity fees, brokerage, spread charges, leverage, initial deposit amount, or any other cost.
They can simply access a demo account for any assistance by logging out of the professional account and logging in to the demo account.
How to open an EverFX Demo Account?
The process of opening an EverFX demo account is somewhat similar to opening the professional trading accounts of EverFX.
The only difference is in the EKYC process wherein for the professional trading account; the broker demands almost all the important documents whereas for the demo account opening, only showing a few documents will work.
- The steps required for opening the EverFX demo account are-
- Click on the option of ‘open my demo account’ and choose your preferred trading terminal. As soon as you choose and click, the web page will show a small form asking for your name, address, phone number, and nationality. You may also have to provide your email id and password.
- The second step involved in the registration process requires the traders to fill the elaborated form with all the significant information in detail.
- Now, the third step is the verification round; which is considered as one of the most crucial aspects while opening any kind of trading account. There are certain documents that the broker may ask the traders to show and submit the scanned copies of. For the demo account, the documents required are identity proof, PAN card, residential proof, etc.
- After following this process, the broker will take around 24 working hours to approve your account and provide your login credentials afterward on your email id.
- Now you can log in to your demo account and access its services.
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Advantages of EverFX Virtual Trading Platform
The demo account is itself an advantage that has been brought by the broker to help the traders polish their trading skills and learn the technicalities involved in it.
Some of the advantages of the EverFX virtual trading platform are-
- The EverFX virtual trading platform provides virtual money of $ 10,000 to all of the demo account holders with the liberty to buy and sell commodities and tradable assets in the live forex market.
- The demo account provides a risk-free environment to the traders and gives them the freedom to implement their trading skills freely without the fear of any loss or profit. They can create their trading strategies and execute them to check their trading performance.
- The traders can get exposure to all the modern features and trading tools of the globally recognized trading platform that is MetaTrader 4.
- The demo account is easy to set up and never expires. The traders can use it up to whatever duration they want. They only have to sign out of the professional trading account every time they want to log in to the demo account.
- The new traders take advantage of the various analytical tools and indicators to examine the market movements and practice online trading using the tools to enhance their skills.
EverFX Demo Account – Conclusion
The demo account is a virtual trading platform that traders can use without investing their funds.
They can polish up their trading skills and make use of different trading tools and features at different market conditions to understand the usability of each tool.
By using the demo account, the investors can boost their confidence in online trading and visit the actual live Forex market through its professional trading account more confidently.
Consequently, the EverFX demo account is considered the best learning platform for the new and veteran traders both.
They both can augment their knowledge about the latest trading trends and learn to develop trading skills with practical experience.
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EverFX Virtual Trading Account – FAQs
Here is the list of the FAQs for the EverFX virtual trading account:
Does EverFX provide Demo a/c?
EverFX provides a demo account to all of its traders along with the main trading accounts. It provides accounts such as Entry account, Standard account, Premium account, and VIP account.
The demo account is available for all the professional trading accounts and trading terminals of EverFX.
The professional trading accounts are chargeable whereas the demo account is free to use.
How to Set up an EverFX Demo Account?
Setting up a demo account at EverFX involves the same process of account opening as the process for trading account.
When you visit the website of EverFX, you can choose a demo account and your preferred trading terminal.
Afterward, the broker will ask for your email id and password to proceed further to follow the account opening options.
Now you can register and perform the EKYC step to get your account approved and opened within one or two working days.
Is EverFX Virtual Trading Platform Free?
EverFX Virtual Trading platform is proposed exclusively for learning and assistance purposes and hence is provided for absolutely free.
Unlike professional trading accounts, the traders need not pay any kind of charges while opening the demo account with EverFX or for accessing its services.
What are the Fees of the EverFX Demo Account?
EverFX demo account follows a free-of-charge structure and does not levy any kind of fees for using the EverFX demo account.
EverFX virtual trading platform has brought an EverFX demo account to help the new traders understand the basics of trading and to help the veteran traders get exposure to advanced trading features and automated tools.
Instead of charging fees, the broker provides a sum of 10,000 USD to all its demo account holders.
Is AMC levied on EverFX Virtual Trading Platform?
The EverFX virtual trading platform does not levy
Annual Maintenance fees on its traders. However, the broker has the rights reserved to charge a maintenance fee from the traders without even mentioning the tentative amount.
Therefore, the traders need to communicate about the terms and conditions involved for AMC at the EverFX trading platform.
Is EverFX Demo Account the best?
EverFX demo account can be assumed as one of the best sources of assistance and practical learning for traders who are new to the trading industry.
Demo accounts play a significant role in a trading platform and this is why almost all the prominent trading platforms are offering demo accounts.
It is not useful for the new traders but the seasoned ones also use it to know about the advanced trading tools and techniques.
What Documents are required for EverFX Demo Account?
EverFX requires some of the important documents from the traders to submit at the time of account opening.
For trading account opening, the broker asks for all the important documents. For the demo account, some of the documents are required such as PAN card, identity proof etc.
Is PAN required for Opening EverFX Account?
PAN Card is required to open a demo account at EverFX virtual trading platform because it is linked with all the financial institutions.
Hence, it provides the broker detailed information about the financial history and background of the account holder.
Does EverFX Charge a Demo Account Opening Fee?
No, since it is a demo account, the EverFX trading platform has made it available for traders for free.
It does not imply any opening fees and does not include any kind of commission, trading fees, or any other hidden charges.
How much Virtual Money do you get in EverFX Demo Account?
The broker at the EverFX demo account offers virtual money worth $10,000 to all the account holders.
The virtual money is usable to buy and sell tradable assets at the live forex market. It ensure no risk of financial loss.
The virtual money used for trading cannot result in any loss of profit. It can only help the traders for getting practical learning opportunities at the forex market.
Open Demo Account Now! – Zero Commission on Trades
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