RoboForex Demo Account – Opening Process, Charges, Features, Benefits & moreLast Updated Date: Apr 24, 2022
Find out all details about the RoboForex Demo Account here.
RoboForex is a well-known forex broker having its headquarter in Belize. This broker provides a Demo account that is perfect for new traders who want to learn to trade.
In this article, we will be talking about the various aspects of the RoboForex Demo Account.
We will be discussing the features of this demo account. Then will guide you about how to open this demo account.
The article will also have details about multiple advantages of having this account.
In this article, you will get to know about the charges, and fees which you need to pay for opening and using this account.
So, overall, this article is going to be a guide about RoboForex virtual trading platform.
RoboForex Demo Account
RoboForex Demo Account is an account that you can use for learning trading from the scratch. If you are new to investments and trading, or you just have the basic theoretical knowledge of it, you would love this virtual platform where even without paying a single penny. You can trade real assets and learn how the market works.
It is a virtual trading platform where all the assets you trade are integrated with the real market. However, the cash you will be using will not be real. You will have virtual cash for the same.
RoboForex started its journey back in 2009. In these 11 years, it has acquired a lot of praise for its excellent services. Thus, you can have full faith in this brokerage house for starting your trading journey.
The brokerage house is moreover regulated by IFSC and it has its headquarters in Belize. The founder of the firm is Rudolph Simmons and it is a privately held firm.
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RoboForex Demo Account Features
The features of the RoboForex Demo account includes the following –
Wide range of tradable assets
Demo account of RoboForex has all those assets which it has in its real trading account. It doesn’t just provide one or two assets for practicing trading.
Instead, it has all those assets which you are going to trade in the trading account after you learn about it.
This helps you understand how each asset class performs, their price movements, their other aspects.
Whether you trade one instrument or many depends on you but you can trade any instrument be it currencies, stocks, commodities, indices, or even cryptos.
Multiple trading platforms
In today’s time, there is no paper trading anymore.
You need to trade using digitized platforms.
Thus, when you are learning to trade, it is important to learn how to trade using the trading platforms for real.
With RoboForex virtual trading platform you can get access to the MetaTrader 4 and Meta Trader 5 as well as the Proprietary trading platform and also cTrader.
Thus, you can use any of these as per your requirements. When you learn to trade using these original platforms you can learn everything in real life.
Like how to use the different trading orders, how to check margin, and other details.
Ample of technical tools
The next up is the technical tools which you need to use for analyzing any instrument before investing in it.
So, in this virtual trading account of RoboForex, you get ample integrated charts, indicators, and other tools for technical analysis. You just have to use them while trading.
You can even trade or place orders from the charts as they are integrated with the real-time market.
Free learning resources
The learning resources include reports of different companies, like annual reports, quarterly reports for understanding their stocks’ price movements.
Then there is different market information, other documents. These learning resources can help to build a strong base of understanding in you about the market.
It is a free account. You do not need to pay while using or opening this account.
So, you can start learning trading free of cost and that too in the most practical way possible.
RoboForex Demo Account Charges
|Demo Account Details|
|Virtual Money||USD 5000|
The charges for RoboForex virtual trading platform are free. There are no account opening charges nor account maintenance charges. You can easily open an account and start practicing trading.
This has been done to fulfill the purpose of spreading investment awareness amongst the people. Learning is free at RoboForex and thus its demo account is completely free.
The amount of virtual cash that RoboForex provides to its customers is $5000.
This is the amount you need to use while trading. Your profits and losses will be added to this amount. For instance, you start trading and buy assets worth $100.
Now two scenarios can take place. One is if the market goes up and your purchased asset also increases in price and you can sell it at a higher price making profit.
Suppose the amount of profit is $25, then the total virtual cash in your account will be $5025.
On the contrary, if the market goes down south, then the price of the asset will fall making a loss for you.
Then the loss will be further deducted from the balance left in the virtual trading account which is $4900 and now after the loss, it will be $4875.
How to open RoboForex Demo Account?
To open RoboForex Demo Account you need to –
- Click on this tab “open demo account “
- Then fill the form and submit the same
- When the RoboForex associates call, you need to submit the documents for KYC
- Once the verification is over, you will receive the login credentials in your email id
- After you have the email id, you can start practicing trading using the demo account.
- You can download any of the trading platforms and set it up and start trading.
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Advantages of RoboForex Virtual Trading Platform
The advantages of using RoboForex Demo Account are as follows –
- The first benefit of using the RoboForex virtual trading account is that it is completely free. You do not have to pay a penny for using this account and its services.
- New traders get to practice trading on the most powerful and dynamic trading platforms even when you are practicing trading on the Demo account of this broker. You can use Metatrader 4 or Metatrader 5 or cTrader and other platforms.
- Then RoboForex provides different assets for trading which can help you gain knowledge about all types of assets.
- You get to trade and learn with one of the best forex brokerage houses in the world at present
- The account opening procedure is simple. Everything is online as well.
RoboForex Demo Account – Conclusion
To conclude, we can say that RoboForex Demo Account is one of its kind.
With multiple trading platforms, ample tradable assets, a wide range of technical tools, and all these for free, it can help budding traders a lot.
If you are a new trader and want to understand the market properly, then open a Demo account with RoboForex.
You can practice trading in the real market with virtual cash and thus will not lose any of your hard-earned cash as well while learning.
One of the biggest turn off for new traders is losing money but that is inevitable when you are new in the market.
However, with this RoboForex virtual trading platform, you can learn but not lose.
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RoboForex Virtual Trading Account – FAQs
Here is the list of FAQs related to the RoboForex demo account:
Does RoboForex provide Demo a/c?
Yes, RoboForex provides a Demo account for all. You just have to register and you can start using it for learning about trading and the market.
How to Set up a RoboForex Demo Account?
To set up the RoboForex Demo Account you need to –
- Open the demo account with RoboForex
- Then get the login credentials.
- Then download the trading platforms
- Enter the login id and password to start practicing
- Add the most traded or tracked instruments on the market watch list.
- You can also set notifications and alerts as well.
Is RoboForex Virtual Trading Platform Free?
Yes, RoboForex is completely free. There are no account opening charges, or brokerage charges or maintenance charges to be paid.
What are the Fees of the RoboForex Demo Account?
There is no brokerage fee that you have to pay for using the RoboForex Demo Account.
You can use it for free. There are no brokerage charges or commissions associated with this account.
Is AMC levied on RoboForex Virtual Trading Platform?
No, there is no AMC levied on the RoboForex virtual trading platform.
AMC stands for the annual maintenance charges and there are no such charges you need to pay for your RoboForex Demo account.
Is the RoboForex Demo Account best?
If you consider the below-mentioned facts about the demo account of this brokerage house then you, yourself consider it as the best amongst the market.
- Free account
- Thousands of tradable assets
- Multiple advanced trading platforms
- Lots of technical and analytical tools
What Documents are required for a RoboForex Demo Account?
The documents you would need to submit for opening the RoboForex Demo account are –
- Address proof
- Bank details
- Others as required by the brokerage house
Is PAN required for Opening a RoboForex Account?
As all financial information and tax-related information are linked to PAN, you need to submit the PAN at the time of opening and verification of the account.
Even if it is a demo account, you need to submit the PAN card copy.
Does RoboForex Charge a Demo Account Opening Fee?
No, there are no account opening fees for the Demo accounts.
You can just click on the tab “ open demo account” and fill the form and submit the documents and you are done.
How much Virtual Money do you get in a RoboForex Demo Account?
RoboForex provides $5000 virtual cash in the demo account.
You can use this for trading practice on this virtual platform. While the profits increase the amount, the losses reduce the amount as well.
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