UFX Demo Account – Opening Process, Charges, Features, Benefits & more
Get all details about UFX Demo Account or Virtual Trading Platform here.
A demo account is a virtual trading account meant to help new traders learn the basics of trading. It also heps in experiencing the environment of the real forex market.
UFX is a well-known trading platform that provides its traders access to major markets, including commodities, shares, indices, and currencies.
It is among the fewest brokers that deal in Cryptocurrencies CFDs as well.
If you are looking to open demo account with UFX, and want to know more about it, then here, you will get all the information regarding features, advantages, its opening process, charges, and more.
Read the article carefully to make better investment plans with better preparation options.
UFX Demo Account
Along with many trading accounts, UFX has also proposed a demo account to aid the new traders as well as seasoned traders.
The Forex broker will help in understanding the operations of the UFX trading account and its functionality.
It is a vast learning platform that offers traders the same ambiance as the professional trading account. It also provides them with virtual money to invest in the real forex market to experience the real market environment.
Since the traders can execute their trades using virtual money, there is no financial risk involved. Hence, they can perform trading practices confidently.
Investing in the real market with virtual funds is a smart way to learn and practice trading.
This way, you not only save yourself from financial risk but also get to understand the various technicalities involved in the professional account while trading.
Open Demo Account Now! – Zero Commission on Trades
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UFX Demo Account Features
Some of the significant features of the UFX demo account are-
The UFX offers various types of trading accounts to cater to the needs of different types of investors.
The professional trading accounts UFX deals in are Mini account, Micro account, Standard account, Gold account, Platinum account, and Islamic account.
The demo account is available with all these professional accounts. It helps the traders look around the account and check the various offerings and trading tools provided.
The traders can access the demo account easily. While signing up the trading account with UFX, they have to set the demo account option in the personal Menu. This way, the traders can access the demo account of the desired trading account.
The traders can trade in the real forex market in the demo account by using the virtual money provided by the broker.
Gaining practical exposure to the trading world without any risks is only possible with the demo account.
The UFX demo account is accessible on the globally recognized MT5 trading platform.
It is free to use accounts designed for new traders and expert traders both to get a better understanding of the automated trading tools.
The traders can look around the account and assess all the features, tools, and functions before switching to the professional trading account.
The broker provides virtual money worth $10000 to the demo account holders to practice trading in the real trading market and trade in various major tradable assets without the fear of any monetary loss.
UFX Demo Account Charges
|Demo Account Details|
|Virtual Money||$ 5000|
UFX has introduced six types of trading accounts on its online trading platform, with each trading account having different types of charges and brokerage fees.
The minimum deposit amount for UFX trading accounts is $100, and the maximum deposit amount is $10 000. The minimum deposit amount varies from account to account.
There are many other changes that have to be paid by the account holder at different intervals of time, such as charges for commission, spread, leverage, trading tools, minimum deposit fees, per trade plan, base fees, inactivity fees, and so on.
However, the UFX demo account does not involve any such charges and is available free of cost for all of its traders.
UFX virtual trading does not involve any commission charges, spread charges, leverage, inactivity fees, and base fee, etc., while opening the UFX Demo account or while using its services.
How to open UFX Demo Account?
UFX provides a demo account with a very simple account opening process.
There are just a few simple steps involved in opening the UFX virtual trading platform, and you will get your account opened with login credentials within the same day.
The steps are-
- Browse the website and visit the Trading Account page. First of all, set up a professional trading account.
- When you choose your preferred trading account, click on “Open the account,” you will get a pop-up form followed by a Registration Application.
- After following these two steps, perform the EKYC process to authenticate your identity and validate your account.
- Once your account is verified, you will get your account opened with UFX.
- Now setting up a UFX demo account is very easy. While logging in to the trading account, set the demo account in your personal Menu, and you will be logged in to your demo account.
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Advantages of UFX Virtual Trading Platform
The most significant advantages of the UFX Virtual Trading Platform are-
- The UFX Demo Account gives you full access to all the professional trading tools, including the live feed of market events and aggregated trader behavior.
- The broker credits the account holders’ demo account with virtual money worth $ 10,000 and allows them to trade in the real market with this virtual money to let them practice trading without the risk of financial loss.
- UFX Virtual Trading Platform has designed its demo account exclusively to help the traders examine the Forex market, execute their trading practices in the market and also check and track the trading orders.
- The traders can analyze the market in advance and understand the functioning of various trading tools.
- The traders can trade in a risk-free environment and exercise their trading skills in the real market.
- UFX provides its demo account free of cost and involves no brokerage charges while opening the account. It also does not involve any commission charges and minimum deposit amount for opening the demo account.
- The demo account is available for each of the UFX trading accounts and is accessible ON the MT5 trading terminal.
UFX Demo Account – Conclusion
In this article, we have reviewed various aspects of the UFX demo account, including the charges, benefits, and advantages of the UFX virtual trading platform, to give you a broad proposal about UFX virtual trading.
Read on carefully all the information to decide and choose your preference. Using a demo account is always recommended as it prepares you well for investing your real funds.
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UFX Virtual Trading Account – FAQs
Here is a list of Top FAQs related to UFX Virtual Trading Account –
Does UFX provide a Demo account?
UFX provides different types of accounts, including Mini account, Micro account, Standard account, Gold Account,
Platinum account, Islamic account to its traders and along with these accounts it also provides a demo account for each of these accounts.
UFX also provides globally recognized trading terminals such as MT5 to open the demo account with.
While logging in to the professional account, you have to set the demo account in the menu setting, and you can access a demo account.
How to set up a UFX demo Account?
Opening a demo account is a very easy and simple process. Browse the website, search for the account opening options.
While logging in to the particular account, you have opted for, set the demo account in your personal Menu. This way, you can set up a UFX demo account and access it before going to the professional trading account.
For setting up the professional account, click on “open account” and follow all the steps, including the Account Registration and Verification process, to get your account opened with UFX.
Is UFX Virtual Trading Account Free?
Yes, UFX Virtual Trading Account offers a free demo account to all of its traders.
It does not involve commission charges, leverage, spread charges, initial deposit amount, inactivity fees, or any kind of brokerage charges to access the UFX Virtual Trading Account.
What are the fees of the UFX Demo Account?
UFX Demo Account does not involve any fees to operate it.
UFX virtual trading platform offers a Demo Account for traders who are new into the trading market to get complete practical learning and training by executing their trade practice in the real market conditions and dealing in the major markets such as commodities, shares, indices, and cryptocurrencies.
Is AMC levied on the UFX Virtual Trading Platform?
No, AMC is not levied on the UFX Virtual Trading Platform or any other trading platform.
UFX offers a maintenance-free and cost-free virtual account where the traders can look around the account and use its various features and services for free to get practical exposure without involving any kind of charges associated with it.
Is the UFX Trading Game the best?
UFX is a well-known trading platform regulated under one of the prominent forex authorities such as CySEC.
It is indeed one of the best Trading platforms for both new traders and expert traders.
It provides its clients free to use a demo account and helps them build their investment strategies. Also, it is the platform that allows investors to have access to markets without actually trading on their own.
The Demo account interface is best for traders who want to learn to trade without incurring any trading risks or losses.
What Documents are required for a UFX Demo Account?
UFX requires some of the essential documents to be presented by the account holder at the time of opening the trading account. These documents are-
- Bank statements or credit card statements,
- Residential proof.
- A valid passport.
- A PAN card.
- A valid government ID, such as a Driver’s License or State ID.
- A valid National Identity Card.
Is PAN required for Opening a UFX Virtual Account?
PAN is an important proof used in all financial matters.
To open a Demat account, PAN is an essential document that has to be presented or submitted to validate your identity and financial status.
For Opening a UFX Virtual Account, PAN is required, and the broker may also ask to submit the scanned copy of PAN to provide your account and investments better protection.
Does UFX Charge a Demo Account Opening Fee?
UFX is a free-to-use account designed exclusively for new traders to help them have a complete idea about the professional trading account.
The traders can look around the account and have a complete tour of its various aspects such as tools, features, and functions it offers.
It helps in providing an understanding of handling and operating different instruments and uses them while implementing trading practices.
How much Virtual Money do you get in a UFX Demo Account?
UFX Demo Account provides virtual money worth $ 10,000 to its traders to let them test their trading skills in real market conditions.
Virtual money does not involve any kind of financial risk.
Open Demo Account Now! – Zero Commission on Trades
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