iForex Demo Account – Opening Process, Charges, Features, Benefits & more
iForex Demo account or Virtual Trading Platform is the demo format of the trading account. A demo account helps in learning trading without involving the real cash.
This is a virtual copy of a trading account as you can say which has all the features of a trading account.
You can monitor the stock market, check the real-time prices, bid and trade as you can do with a real trading account.
However, the only difference is that there is no actual cash that you need to deposit or need to trade.
In this article, we will discuss the iForex demo account in detail.
The article will cover the features of the demo account provided by this brokerage house.
Then, we will discuss the charges and virtual cash limit that is provided to the iForex demo account holder and other related details.
If you want to open this account then you can apply for the same from this page only and we will guide you about the procedure.
Apart from all these, there will be the advantages of using the iForex virtual trading platform.
We will also be answering the frequently asked questions that generally come up before anyone opening the demo account.
iForex Demo Account
iForex Demo account is a virtual trading platform where you can start trading with virtual cash.
This account is a free account where you can practice trading with real-life investment instruments.
The demo account lets you trade on the real stock market and you can assess and invest in all types of investment instruments that iForex provides to its clients.
Being a demo account holder you would get access to the iForex virtual trading platform as well.
The trading platforms are real Meta Traders but the cash in your account is virtual so, there won’t be any real transaction.
When a new trader enters the market, losing money is inevitable because of no or less experience.
Demo accounts can lessen this pain to some extent as it provides a next-to-real platform for trading where everything is real except the transactions.
So, you can understand the volatility in the market.
Then you can get aware of the price movements.
You can also start observing the price movement using the live-streaming of prices.
iForex Demo account is the solution for learning trading without any risk of losing money.
Open Demo Account Now! – Zero Commission on Trades
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iForex Demo Account Features
iForex virtual trading platform which comes with the Demo account is loaded with features.
Basically, this demo account is an exact clone of the real trading account, it is just that there you have to deposit some amount to trade, here you get virtual cash to trade.
So, now let us look at the features of the iForex demo account –
- There are multiple investment instruments – stocks, commodities, currencies, cryptocurrencies, and others. You can trade any and all of them.
- There is no risk involved in losing money in the process.
- With the demo account, you can get access to the Meta Trader terminal and other trading platforms of iForex.
- There are technical research tools like integrated charts available.
- There are multiple technical indicators that help in signaling the best time and price for buy and sell and other activity.
- The platforms for trading are super user friendly
- There are different order types
- You can build trading strategies and test them using the iForex virtual trading platform.
iForex Demo Account Charges
|Demo Account Details|
|Virtual Money||$ 10000|
iForex Demo account is a free account.
There are no fees or any charges that you need to pay for using this account.
You can open this account without paying anything and also use it without paying anything.
On the other hand, you get $10000 of virtual cash for practicing trading on this demo account.
This is the highest amount of virtual cash any demo account provides.
You can buy multiple financial instruments with this virtual cash and then trade them.
How to open an iForex Demo Account?
If you are serious about learning trading in the most practical way possible, then you must be eager to open the Demo account of iForex by now, isn’t it?
So, there are the simple steps to do it –
- Click on this tab “ Open Demo account”
- You will see a form opening on the screen of the device
- Check the form thoroughly
- There are certain details that you need to fill in. Make sure all the details you enter are correct. This form will be verified for the approval of the application and KYC.
- Then submit the form
- iForex associates will call you and ask you to upload the documents which you need to do.
- You have to visit the iForex website and upload the documents and complete the registration process.
- Then the documents and the application will be verified by the team of iForex.
- Once they accept it, they will create the demo account and give you access to the same.
- Then you can log in to your demo account by using the login credentials received in your email.
It is a completely online process. There is no need to visit any office of iForex for the same.
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Advantages of iForex Virtual Trading Platform
The benefits of using the iForex virtual trading platform are like –
- Firstly, you get to use the demo account completely for free. There are no account opening charges nor maintenance charges or any kind of other charges.
- Secondly, the trading terminal and trading platforms for mobile are from MetaTrader. MT 4 and 5 both are highly advanced platforms that this broker provides even with a Demo account. So, you can use the full features of MetaTrader and practice trading with virtual money.
- There is an abundance of technical tools for research. Starting from the charts for analyzing market trends to technical indicators to provide accurate buy and sell signals. This iForex Demo account is highly beneficial if you are using it.
- Fourthly, there are trading strategies. There are some inbuilt strategies and also the option that you can build your own strategies. With these strategies, you can better your trading experience and learn from your mistakes.
- Finally, there is no risk of losing any money as the money you are trading with is not real. It is virtual cash that can be used for trading real stocks and learning.
iForex Demo Account – Conclusion
To conclude, we can say that before taking the leap, it is better you look into it properly.
In trading, nothing can be better than practicing using the iForex Demo account and learn and then try to encash it.
Moreover, you are getting real assets to trade with virtual cash and that helps you plan your strategies.
However, another best part of the demo account is the trading platform that you get to use.
They are real Meta Traders with all the resources, tools, and everything, and that too free.
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iForex Virtual Trading Account – FAQs
Here is the list of FAQs related to the iForex Virtual Trading account:
Does iForex provide Demo a/c?
Yes, iForex provides a demo account.
With this demo account, you can trade any assets which are available with this broker with virtual cash.
Then you can use their real trading platforms as well.
How to Set up an iForex Demo Account?
To set up the iForex Demo account you need to –
- Open the Demo account with iForex
- Download the Meta Trader terminal and other trading platforms
- Then you need to install them on your device
- Once they are installed, open them and log in using your password and id for the demo account that you received
- Then personalize the trading platform by adding your favorite assets and instruments for trading
- You can trade them directly then.
Is iForex Virtual Trading Platform Free?
Yes, the iForex Virtual Trading Platform is completely free.
There is no cost involved for anything related to a demo account.
You get to use the account and the trading platforms for free.
What are the Fees of the iForex Demo Account?
For the iForex demo account, there are no fees.
The brokerage house provides the demo account for free to the users.
You can learn by using this account and then you can open a trading account with them which has some charges.
Is AMC levied on iForex Virtual Trading Platform?
No, iForex levies no annual maintenance charges for using the iForex Virtual Trading Platform.
There is no maintenance cost or fees for the demo account or the trading platforms.
Is iForex Demo Account best?
Yes, the iForex demo account is regarded as one of the most useful and original demo accounts.
This provides a wide range of investment options to trade thus you can learn a lot.
There are multiple technical tools to do technical analysis as well.
What Documents are required for iForex Demo Account?
The documents you would require includes –
- PAN card
- AADHAAR Card
- Address Proof
- Others as asked by the broker
These documents are required for KYC purposes so make sure all the documents are right.
Is PAN required for Opening an iForex Account?
Yes, you would require to submit a PAN card for opening the demo account with iForex.
Since it is a trading platform, a PAN card is necessary.
Does iForex Charge Demo Account Opening Fees?
No, there are no account opening fees which iForex charges for its demo account opening. The Demo account is completely free.
How much Virtual Money do you get in iForex Demo Account?
iForex provides one of the highest virtual cash to the users and that is $10000.
You can use it for buying any type of investment options and trade using the iForex demo account.
Open Demo Account Now! – Zero Commission on Trades
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