IC Markets Demo Account – Opening Process, Charges, Features, Benefits & moreLast Updated Date: Apr 29, 2022
Learn everything about IC Markets Demo Account here.
Are you thinking of starting day trading or investments in the financial markets? Have you used trading platforms before?
Are you tense about how to use them and make a profit out of your trades? If all these are jamming your mind, then relax.
Here in this article, we have the best solution for you which is the IC Markets Demo account.
A demo account is a trading account only but the funds used in this account are virtual or dummy funds.
This means that you can trade like a real trader but there is no requirement to pay any cash or deposit.
Demo accounts are basically for the new traders who are learning how to trade, read charts, do technical analysis, and do other related things.
This account helps you get the feeling of trading financial instruments for real but without the risk of losing real money.
In this article, we will discuss the IC Markets Virtual Trading account.
The article will revolve around the features and benefits of the demo account that this brokerage house provides.
Then we will talk about the procedure of opening the demo account and documents required and all other information related to this account that you need to know.
IC Markets Demo Account
IC Markets is one of the biggest forex brokerage houses across the world with its headquarter in Australia.
The firm started its journey back in 2007 when it was founded by Andrew Budzinski.
The IC Markets Demo account is for trading with dummy cash. You can trade all the financial instruments from all asset categories that IC Markets provide.
However, the funds will be virtual cash. You do not need to deposit any cash or keep any security deposit with the broker.
The game account of IC Markets provides a free ground to practice trading using the best IC Markets virtual trading platform.
You can get the real feel of trading and that too when you do not have to pay anything.
With a demo account, you can buy and sell any financial instruments available and also hold them like in a real trading account.
This is one of the best possible ways to learn to trade in the real market.
You can understand how to place bids, how to analyze the market, price trends, and everything else.
Open Demo Account Now! – Zero Commission on Trades
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IC Markets Demo Account Features
The features of the IC Markets Demo account are as follows –
- Firstly, you get virtual cash with no limit. This is one of the best features of IC Markets virtual trading is virtual cash, you can purchase any assets, trade them like real.
- Secondly, there is MetaTrader as a trading platform. The trading platforms are highly advanced as you may know because MetaTrader is one of the most latest and advanced trading platforms at present.
- You get hundreds of charts, multiple technical indicators to use for analysis. You can learn technical analysis in practice by using the demo account of IC Markets.
- There are different orders that you can place – bracket orders, cover orders, stop-loss, and others
- The security of the demo account provided by IC Market is top-notch
- There is no minimum balance requirement as it is a free account
IC Markets Demo Account Charges
|Demo Account Details|
The charges of using the IC Markets Virtual gaming account are nil.
It is a free account that IC Markets provide for learning purposes.
There are no account opening charges, no maintenance charges, or any other hidden charges.
Moreover, you get unlimited virtual cash which is one of the biggest pluses of using the IC Markets Demo account.
There is no limit to virtual cash with this demo account and thus you can trade as much as you want.
Once you are ready to actually enter the market for real, create your trading account and then pay the minimum deposit and start trading for real.
How to open IC Markets Demo Account?
The procedure to open a demo account with IC Markets is as follows –
- Firstly, you need to click on the tab “open demo account” on this page
- Once you click you will see a form opening up on the screen itself
- Read it carefully and fill it with correct details
- Once you complete filling it, check it twice and then submit
- Now you have to wait to get the call from IC Markets associates
- They will call you and ask you to upload certain documents
- Once you upload the photocopy of those documents, they will carry on the KYC process
- Once KYC is done and updated, your demo account will be live and up for use
- You will get the login credentials of the demo account in your registered mail id
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Advantages of IC Markets Virtual Trading Platform
If you are still wondering how this IC Markets Virtual Trading Platform can be beneficial for your trading here are some important advantages –
- You get to trade stocks, commodities, currencies, and other assets using this demo account
- You can use the MetaTrader which is IC Markets’ real trading platform
- The account is completely free and there are no hidden charges also
- The IC Markets services are popular across the traders of the world
- You can get to learn about different things required in trading – technical analysis, fundamental analysis
- You can prepare your own strategies with the help of IC Markets virtual trading platform. Then you can test them as well.
IC Markets Demo Account – Conclusion
To conclude, we can say that if you are serious and focused on learning trading from scratch, the IC Markets Demo account is the best option.
It has all the investment options that you can use to learn to trade. Then you get virtual cash to trade those investment options.
Then you get the real MetaTrader terminal and other platforms.
So, it is a win-win situation for you as without any charges you get so many services and products to use and hone your trading skills.
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IC Markets Virtual Trading Account – FAQs
Here is the list of FAQs related to the IC Markets Virtual Trading account:
Do IC Markets provide Demo a/c?
Yes, IC Markets provide a demo account to the customers.
The demo account can be used for learning trading, analysis, and everything else you need to learn when trading.
It is a free account that you can open without paying any charges.
How to Set up IC Markets Demo Account?
To set up the IC Markets Virtual Gaming account you would need to follow these steps –
- Open demo account with IC Markets
- Download the Meta Trader terminal software from the IC Markets site
- Install it on your computer
- Now open it and log in using your demo account id and password
- Then you can personalize the terminal as your requirement
- You can add the stocks, currencies, other assets that you want to track and trade
- Remove those which you don’t need any longer
- You can set notifications, alerts for different price and market changes.
Is IC Markets Virtual Trading Platform Free?
Yes, IC Markets virtual trading platform is completely free.
You can use it without paying any hefty fees. IC Markets anyway doesn’t charge for its trading platforms.
What are the Fees of IC Markets Gaming Account?
There are no fees or any charges for using the Gaming account of IC Markets. You can just open it and start using it.
There are brokerage or commissions you need to pay when trading using this account as this is a virtual account after all.
This account is for understanding and learning the concepts of trading and practicing it in the real market with dummy cash.
Is AMC levied on IC Markets Virtual Trading Platform?
No, there are no maintenance charges that IC Market levies on its customers for using the Demo account. You can use it for any period for free.
Is IC Markets Demo Account best?
Yes, it is regarded as one of the best demo accounts for the following reasons –
- Free account
- Highly advanced trading platform
- No maintenance cost
- No opening charges
- Ample of trading options and investment options
- Great customer support services
- High level of security measures
What Documents are required for an IC Markets Demo Account?
The documents you need to upload for KYC purpose of IC Markets Demo account are –
- PAN Card
- AADHAAR Card
- Address proof
- Bank statement at least for last six months
- Income statement (optional)
Is PAN required for Opening an IC Markets Account?
Yes, PAN is mandatory for opening the IC Markets demo account. Without PAN, your account application won’t be verified only.
Does IC Markets Charge Demo Account Opening Fee?
No, there are no account opening charges for opening a demo account with IC Markets.
You can just follow the above-mentioned process and open the account without paying a single penny.
How much Virtual Money do you get in an IC Markets Demo Account?
There is no upper limit of virtual money that IC Markets provide in the demo account. It can be any amount as per your requirement.
Open Demo Account Now! – Zero Commission on Trades
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