Fondex Demo Account – Opening Process, Charges, Features, Benefits & more
Find out all details about the Fondex Demo Account here.
While learning a new thing, everyone makes mistakes.
There is no wrong with it but often people lose their confidence when they lose, especially when they lose money they spent on something new.
In trading, this is one of the most common phenomena. However, there is a way following which you can learn trading without losing any money, Demo accounts.
In this article, you will read about the Fondex Demo account.
The article will take you through the various aspects of the demo account, its features, benefits, and other factors.
In this article, we will also elaborate on the process of opening a Demo account with Fondex.
Moreover, this answer may clarify all your doubts about the Fondex virtual trading platform altogether in the FAQs section.
Fondex Demo Account
The Fondex Demo account is a virtual trading platform where you can start trading with dummy cash.
The name suggests that it is not physically present or in reality.
The demo account is for those who are new in the market and want to learn to trade on their own.
Using the demo account, you can trade any of the assets whether it is currencies, stocks, indices or commodities, or anything.
Fondex provides this demo account to help new stock markets and traders learn about the market in the most practical way possible.
The Fondex virtual trading platform is known for its ample features which will be discussed in the next section of the article.
This broker has its headquarter in Cyprus and it is quite a new firm in the market. Alex Sologubov founded it in 2017 which is just 4 years back.
However, the firm has gathered a lot of praise and good repute because of its simple yet effective services.
Moreover, you do not need to be worried about its reliability as it is regulated by CySEC and FSA (SC).
Open Demo Account Now! – Zero Commission on Trades
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Fondex Demo Account Features
The features which make the Fondex Demo account stands out are –
Learning resources and assets:
You want a demo account for learning to trade in the real world.
So, for that, you have to trade real stocks, currencies, commodities, and any other assets that you want to, isn’t it? So, with this demo account, you can trade any of the assets in any quantity (as per virtual cash limit) and understand how the prices are moving.
You have to observe and try to improve yourself with every trade.
This demo account not only provides multiple assets to trade but also there are a lot of resources from which you can learn a lot from.
For instance, you will find a lot of annual reports, company analysis reports, and a lot more.
You need virtual cash to trade the instruments, right? So, with a Fondex virtual trading account, you can get a lump sum amount of virtual cash in your account.
You can use the same for trading on this platform.
This virtual cash helps you to learn trading and practice on real platforms with real assets without worrying about the money.
Technical analysis tools:
When you are learning to trade, you have to understand how the market moves.
To understand how the market moves and predict future movements, you need technical analysis tools.
The demo account is loaded with multiple interactive charts, technical indicators, and a lot more.
When you are new, you also need to learn using these tools, and with this demo account, you can learn it for free and in the most practical way possible.
Advanced trading platforms:
With the Fondex Demo account, you get access to the trading platform it provides. The trading platform that is available with this broker is cTrader.
You can use the mobile application or the terminal and even the web-based version.
While you are learning, it is better to use all three versions to make yourself comfortable trading on any of them.
No cost account:
Demo account by Fondex is purely for learning and thus there are no charges, be it account opening charges or brokerage charges, or maintenance.
You can open an account and start practicing trading in real life.
Simple and secure:
The demo account which this broker provides is simple to use because of a user-friendly interface.
However, with simplicity, it is highly secure as well. You do not need to worry about the personal information or transaction details on this platform.
Fondex Demo Account Charges
|Demo Account Details|
|Virtual Money||USD 10000|
You can use the Fondex Demo account completely for free. There are no charges which you have to pay for having this account or using it.
Whether it is the account opening charges, or the maintenance charges of the account (AMC), or the brokerage commission/ charges.
There is none of them applicable on the demo account.
Now, coming to the crucial part that how much virtual cash Fondex provides to the clients. So, it is $10000 that you get when you open the demo account.
This amount increases or decreases depending upon the profit and loss you make from your trades.
For example, suppose you purchased assets worth $500. So, your balance will be $9500. Now, if you make a profit of $200 on it, then your account balance will be $10200.
However, if you make a loss of say $150 then your amount in the trading account will be $9850.
This virtual cash is very important when you are learning to trade.
You need to be aware of how much of it is in the account.
How to open Fondex Demo Account?
To open the Fondex Demo account you have to –
- Click on this “open demo account” tab
- Then fill the form that pop-ups on the screen with correct details
- After you submit the form you will receive a call back from the Fondex associates
- They will ask you to upload certain documents for verification purpose
- Once the verification is successful, your application is approved by the broker, you will receive the login credentials.
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Advantages of Fondex Virtual Trading Platform
The advantages of using the Fondex virtual trading platform are as follows –
- You can open this demo account in just a few minutes as everything is online
- With this demo account, you can learn to trade for free
- You get to use all the technical tools for analysis
- There are ample learning resources as well
- Fondex is having a global presence with multiple tradable assets
- There is no maintenance charges or account opening charges
- It is a very easy-to-use platform
Fondex Demo Account – Conclusion
To conclude, we can say that Fondex has made a great demo account for newbie traders.
There is a lot you can learn about trading and learn how to trade in the markets for real without involving any real money.
Fondex demo account is not only providing you’re the resources for practicing trading but also the platform and other resources to learn about the market from deep within.
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Fondex Virtual Trading Account – FAQs
Here is the list of FAQs related to the Fondex demo account:
Does Fondex provide Demo a/c?
Yes, Fondex provides Demo Accounts to the people who register for the same and if they match the eligibility criteria of the firm.
A demo account helps in learning trading without involving any real cash.
How to Set up a Fondex Demo Account?
To set up the demo account you have to –
- Open a Fondex demo account
- Then download the cTrader trading platform for mobile/ computer or use the web-based platform
- Once you have the platform, you can log in using the credentials you have for the demo account
- Now you have to add the instruments you want to track, trade the most on the watchlist
- Set-up alerts to stay updated about the market
- Customize the platform as per your requirement.
Is Fondex Virtual Trading Platform Free?
Yes, the Fondex Virtual Trading Platform is free. On this platform, you can practice how to trade without paying any money.
There are no commission charges, no maintenance charges, or any commission charges as well.
However, the best part is you do not have to pay for the purchases also from your real money.
It is the virtual cash that you would be using, so no monetary loss as well.
What are the Fees of the Fondex Demo Account?
There are no fees for Fondex Demo Account. This demo account levies no brokerage commission or fees on the trades you do as this account is for learning purposes.
Is AMC levied on the Fondex Virtual Trading Platform?
No, there are no annual maintenance charges (AMC) that Fondex levies on the demo account.
You can use this account for any amount of time without any maintenance charges.
Is Fondex Demo Account the best?
If you look at the features it has like an advanced trading platform for new traders, free learning resources, lots of tradable assets, you will yourself consider this as one of the best demo accounts in the market at present.
What Documents are required for Fondex Demo Account?
You will require to submit the following documents –
- Address proof – electricity bill/ water bill or any other
- Bank details (if required)
Is PAN required for Opening a Fondex Account?
Yes, PAN is mandatory for opening a Fondex demo account as well.
Since all your financial and tax information is linked to the PAN, it is necessary to submit the same when you are opening an account.
Does Fondex Charge Demo Account Opening Fee?
No, there is no account opening fee that you have to pay for the Fondex demo account.
You can open the account just by filling the form and submitting the documents.
How much Virtual Money do you get in Fondex Demo Account?
Fondex provides $10000 virtual cash/money to the Fondex Demo Account holder. You can use this amount to trade any asset and learn how the market works.
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