IronFX Demo Account – Opening Process, Charges, Features, Benefits & more
Know everything about IronFX Demo Account here.
Are you worried about losing money in the financial markets? or you afraid of not applying the right strategies for trading?
Are you a new trader who wants to learn about the market in real life? If all these questions are hovering in your mind, then stay tuned.
This article will take you through the details of the IronFX Virtual Trading account which is the answer to all your questions mentioned above.
Are you wondering how or what a demo account is?
Then let us talk about the demo account a bit and then dig into the demo account of IronFX and all its aspects.
So, the demo account is like a trading account, but the cash is virtual which is in it for trading.
So, this is a virtual trading platform where you trade real stocks, monitor the real market, get real experience of trading but the funds used are virtual, and thus no risk of losing any money.
For the new traders, it is like a boon as they can learn real trading without using real money. There are all other features of IronFX virtual trading that will be discussed in this article.
So, let’s start with the fundamentals of the account and then dig deeper.
IronFX Demo Account
IronFX is a Cyprus-based forex brokerage house that is regulated by ASIC, FCS, and CySEC.
It provides a demo account feature that helps the new traders to learn to trade in real life.
Though the IronFX Demo account is primarily for the new traders, it can be used by professionals as well to test new trading strategies and other purposes.
The IronFX Demo account has multiple features starting from ample investment options to multiple trading activity options which will be discussed in the next section of the article.
The demo account provides virtual cash which you have to use for buying the shares and you will be able to trade using the same.
With this demo account, you can learn to use different technical tools and read the charts for analysis. Apart from these, you can use the real trading platforms with a demo account too.
Open Demo Account Now! – Zero Commission on Trades
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IronFX Demo Account Features
The features of the IronFX Demo account includes –
The primary feature is the dummy cash or virtual cash that you get with the account to trade all types of investment assets.
This virtual cash gets in your demo account like real funds in the trading account. The rest of the process is the same as in the trading account.
You buy shares, sell them and earn profit or incur losses, and accordingly your virtual cash increases or decreases respectively.
IronFX Demo Account Trading platforms
The IronFX virtual trading platforms are the real trading platforms that IronFX provides.
It is the Meta Trader that this brokerage house provides to its clients and you as a demo account holder also get the same.
So, you can explore all the features of the trading terminal as well as the mobile trading platform.
You get to use all the technical tools and research tools and resources as you get with a trading account.
With a demo account of IronFX, you get all such features as you are using the highly advanced MetaTrader with a Demo account.
The demo account is a free account where you do not have to worry about paying any charges towards account opening or maintenance.
The account is completely free for use as this is mainly for learning purposes.
Multiple order types:
There are multiple orders you can place with a demo account of IronFX. There are bracket orders, market orders, cover orders, and others.
IronFX Demo Account Charges
|Demo Account Details|
|Virtual Money||$ 5000|
The IronFX Demo account is a free account and thus there are no charges that the users have to pay.
You can open this account for free without paying any deposit or any fee. There are also no maintenance charges for the account.
As this demo account is for learning purposes, the brokerage house levies no charges on it.
It comes with $5000 virtual cash which you can use for trading in the market. This virtual cash is also free for use and there are no charges attached to it as well.
How to open IronFX Demo Account?
To open the IronFX Demo account you need to follows these steps –
- Click on the tab on this page “ Open Demo account”
- Once you click on it, you will see a form popping up on the screen of your device
- Fill the form properly and check the details you entered twice as these details will be used for KYC purpose
- Then submit the form and wait
- The associates of IronFX will call you after receiving the form.
- They will guide you about the documents you need to upload
- Once you upload the documents, they will complete the KYC process
- Once your details are verified you will get the confirmation mail
- In that mail, you will receive the login credential to your demo account as well
- You can start setting up the trading platform and start trading practices.
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Advantages of IronFX Virtual Trading Platform
The IronFX Demo account users get multiple benefits by using this account and some of the most important benefits include –
- A free account for trading real financial instruments
- There is no maintenance charges or account opening charges
- you get a real Meta Trader trading platform
- Huge amount of virtual cash with the demo account for practicing trading
- There are different technical tools and charts for technical analysis that you get with the demo account and the IronFX virtual trading platform.
IronFX Demo Account – Conclusion
To conclude, it is evident that the IronFX Demo account is the best possible way to learn trading without involving real funds.
When you are learning, you ought to make mistakes, and thus, involving real money can be really fatal.
However, with the IronFX virtual trading facility, you can learn to trade with virtual cash, and then once you are sure that you can trade in real cash, you can open the trading account with IronFX and start trading.
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IronFX Virtual Trading Account – FAQs
Here is the list of FAQs related to the IronFX Virtual Trading account:
Does IronFX provide Demo a/c?
Yes, IronFX provides a demo account that you can open for free.
You can open a demo account and trade different investment instruments without involving real cash.
How to Set up an IronFX Demo Account?
To set up the IronFX Demo account you have to –
- Firstly open the demo account
- Then install the trading terminal or other platform for trading which is provided by IronFX
- Then you need to open those platforms and customize them
- You can add and remove the investment options as you need.
- If you need to track and trade some stock, add it to the watchlist, if you want to stop tracking it, remove it
- Similarly, you can set alerts for different market changes to remain updated
Is IronFX Virtual Trading Platform Free?
Yes, the IronFX virtual trading platform is a free platform for learning to trade. You can use this for understanding the concepts of trading for free.
There are all the features available like in a real platform for trading.
What are the Fees of the IronFX Demo Account?
The IronFX Demo account has no fees for it. It is totally free whether it is the opening charges or the maintenance charges.
There are no charges for anything that you have to pay for the demo account with IronFX. You can just open it and start using it.
Is AMC levied on IronFX Virtual Trading Platform?
No, there are no annual maintenance charges that IronFX charges from its customers. The maintenance of the demo account is absolutely free with IronFX.
You can use it for as long as you want. This provides the opportunity to learn better and become confident about your trading strategies.
Is the IronFX Demo Account the best?
IronFX is a renowned brokerage house in the world. It has its branches across the globe.
It provides multiple trading facilities and thus you can understand why the IronFX Demo account is considered to be one of the best demo accounts in the world.
What Documents are required for an IronFX Demo Account?
The documents that you need to submit for KYC purposes, for opening a demo account with IronFX are –
- Address proof
- Bank statement
- Income proof
Is PAN required for Opening an IronFX Account?
Yes, even it is a demo account but for KYC purposes you need to submit the PAN card with the brokerage house. It is the most important document when you are becoming a trader.
Does IronFX Charge a Demo Account Opening Fee?
No, there is no account opening fee that IronFX charges. You can open the demo account with IronFX for free.
How much Virtual Money do you get in an IronFX Demo Account?
IronFX provides $5000 as virtual cash in the demo account when you open the account. Then you can use it to buy and trade investment instruments.
According to the profit and losses you make out of trading, the virtual cash keeps changing.
Open Demo Account Now! – Zero Commission on Trades
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