FXOpen Demo Account – Opening Process, Charges, Features, Benefits & more
Established in 2005, FXOpen has earned itself the name to be referred to as one of the Best FX Brokers in the world. Check out FXOpen Demo Account or Virtual Trading Platform here.
The company is being regulated by ASIC, CySEC, and FCA, and the headquarters are located in Saint Kitts and Nevis.
Over 50 active employees are working from all around the world for a publicly traded company.
Although it is not the primary reason, the Demo account they are offering has been one of the major USPs to attract new clients.
So, today, we will learn everything there is to learn about the FXOpen Demo account.
We will explore the features and benefits that the Demo account is offering and will explain the steps to open it up. So, let us jump in!
FXOpen Demo Account
Any Forex Broker avail the Demo account service primarily to serve two objectives. The first is to let new traders learn to trade in without taking the financial risk.
The second reason is to let them be familiar with the trading platforms the company is offering. Now, with FXOpen, the Demo account is 100% free to use.
There is no AMC fee either. So, you can test the overall experience using the Demo account.
Meanwhile, the company is offering MetaTrader 4 (MT4) as the trading platform for the Demo account.
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FXOpen Demo Account Features
With the FXOpen Demo account, you will get MT4 as the trading platform, which many experts believe is one of the best in the market right now.
The company is assuring all the features and functions to be there what you can get with any Live account. Additionally, the platform is free to use, and there is no AMC fee.
So, you can use the Demo account for a month for free with all the features that are there in MT4.
Meanwhile, let us check out some of the essential features that the trading platform has:
- The first thing is the User Interface that you will look into. Every option is there where it is supposed to be. The navigation is smooth too. It is user-friendly.
- Social Trading or Copy Trading feature is available in the Demo account.
- You can practice Guaranteed Stop Loss orders on this Demo account.
- You can check out the Guaranteed Fills / Liquidity feature.
- With the Demo account, you can sharpen your Stop-loss and trailing orders.
- The API trading is available in the Demo account.
- You can reap benefits from the VPS services.
- Trading from Charts is a robust feature available in the Demo account.
- The FXOpen Demo account is ideal for the trader who likes to do scalping. You can do One-Click-Trading via the account.
- The Expert Advisor (EA) service is what you should be looking for when you are unsure of anything. They can guide you to make correct trading decisions later.
- The trading platform permits you to customize it just as you like. There are tons of options that you can choose from.
- The charts are interactive. So, you can fetch the data you need from any time frame with ease. It also gives you the freedom to customize it as you like.
- Automated trading is something that should be tried in the Demo account before you go to Live accounts.
FXOpen Demo Account Charges
|Demo Account Details|
First of all, the FXOpen Demo account is only valid for one month (30 days).
So, there is no maintenance fee or AMC that you need to pay, as that is irrelevant here.
Now, what is interesting here is there is no account opening fee that most FX brokers do charge.
Thus, you can say that the Demo account from FXOpen is 100% free to use.
How to open FXOpen Demo Account?
For those who need assistance for opening up a Demo account with FXOpen, here are the steps:
- It starts by visiting the official website of FXOpen – https://www.fxopen.com/en/. Once you are on the site, look for an option in the banner, “Try a free demo account.” We request you to click that.
- Then, you will be routed to a new page with a simple account registration form. You need to fill it up and remember the credential. Then click on ‘Submit.’
- The eKYC verification will begin then. The representatives of the company will call you for all the documents. Now, you need to submit address proof, identity proof, and income proof.
- Once the representatives approve the submitted documents, you need to download the trading platform, which you will get from the website.
- You can then log into the account and start virtual trading.
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Advantages of FXOpen Virtual Trading Platform
Demo accounts have an appeal. Most companies who avail of this feature, do it for two reasons.
One, the Demo account can be a fantastic live tutorial lesson for new traders. Two, the old-school traders can feel comfortable using MT4 as the trading platform.
FXOpen serves both the purpose perfectly. On top of that, the biggest advantage of owning a Demo account is it is 100% free to use.
Now. it is time we take a look at some of the significant benefits of the FXOpen Demo account:
- With the Demo account, you will get to learn to trade relevant to modern-day markets. Automatic trading, VPS, API, etc. all these features are available for you to learn and learn to make use of those the best way you can.
- You can learn to trade various classes of assets, most notably from Forex, Indices, Commodities, and Energies. There are 100+ global markets in the offering that you can study using the Demo account.
- With the FXOpen Demo account, you can learn how you can trade on multiple markets on 1 trading platform.
- On the Live account, there are various order placing options. We would like to remind you that you should learn the functions so that you can reap those benefits.
- The Demo account can be accessed from various devices such as laptops, desktops, mobiles, and tablets. So, you can see the data syncing from one device to another seamlessly.
- Switching from the Demo account to the Live account can be done in just one click. Of course, all the settings and preferences would transfer to the new account seamlessly.
FXOpen Demo Account – Conclusion
FXOpen is an experienced FX Broker and has been around for over 15 years. So, they do provide tier-one services most times.
The Demo account is also a top-shelf service, especially when you consider it is free to access.
There are tons of features that the company is offering in the Live account. So, this is the perfect way you can learn all of them.
To conclude, if you have made up your mind about joining FXOpen, we suggest you should try the demo account first.
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FXOpen Virtual Trading Account – FAQs
Here is the list of FAQs related to the FXOpen Virtual Trading Platform:
Does FXOpen provide Demo a/c?
Yes, there is a robust Demo account in the offering from FXOpen.
You can use the trading platform for free with all the functions and features in-built.
How to Set up a FXOpen Demo Account?
It is simple. Go to the FXOpen official website.
Then find the option to open a Demo account. Completing the KYC verification is the next step.
The FXOpen agents should call you for that, and help you to submit all the necessary documents to the portal.
After completing your eKYC, you need to download the trading platform.
Then, log in using the Demo account credential. You are then ready to use the Demo account, which is absolutely free.
Is FXOpen Virtual Trading Platform Free?
Normally, there are costs involved to operate the trading platforms that FXOpen is offering.
However, the MT4 trading platform, which you can use in the Demo account, is 100% free to access.
What are the Fees of the FXOpen Demo Account?
There is no difference between the Live account and the Demo account that FXOpen is offering, except the trades aren’t really in the latter.
However, there is no cost involved to open an FXOpen Demo account.
Is AMC levied on the FXOpen Virtual Trading Platform?
First of all, you should know that the FXOpen Demo account is only valid for a month. So, the point of an AMC is irrelevant.
Meanwhile, there is no maintenance fee as well. You can use the account for free.
Is the FXOpen Demo Account best?
If not the best, you can always rate the FXOpen Demo account to be one of the best in this industry. The company is experienced, and the services are elite.
You can say that most of the features that are there on the Live account are there in the Demo account as well. On top of that, they are not charging a penny for that.
What Documents are required for an FXOpen Demo Account?
To open an FXOpen Demo account, you need to successfully complete the eKYC verification process.
Now, there are some mandatory documents that you must upload to complete the procedure.
First, you need the PAN card details to verify you are a legitimate taxpayer.
Second, you need to submit your Aadhaar card details. It will verify your identity and address.
Finally, you need to submit your bank statement to prove your income status.
Is PAN required for opening a FXOpen Demo Account?
As PAN card details verify your tax payment status and financial activities, it is a mandatory document that you must submit to complete your KYC verification.
Does FXOpen Charges Demo Account Opening Fee?
No. There are no account opening fees that FXOpen is charging.
How much Virtual Money do you get in the FXOpen Demo Account?
This information is not available as of now. Therefore, we recommend the traders talk with the support team.
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