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EXNESS DEMO ACCOUNT: START WITH DEMO
Online trading allows individuals to quickly build up capital, but without a good experience, losses cannot be avoided. Forex trading has always been associated with high risks, so before investing real money, a trader should train with a virtual balance. It's simple and safe. Trading mistakes are costly, so the best approach is to prevent them. A demo account is perfect for this.
Many brokers provide their customers with the opportunity to use this free account to study the trading platform without financial losses. And Exness brokers is one of them. Experienced traders use a demo account to test new strategies, and beginners learn how to make deals, analyze the asset price movement and predict its future direction.
Many brokers provide their customers with the opportunity to use this free account to study the trading platform without financial losses. And Exness brokers is one of them. Experienced traders use a demo account to test new strategies, and beginners learn how to make deals, analyze the asset price movement and predict its future direction.
A real vs a Demo Account
The main discrepancy is that with real accounts you will be trading with real funds, while demo accounts use virtual money that has no real value for trading. At the same time, the market conditions for demo accounts are exactly the same as for live accounts, making them ideal for practicing your strategies. Exness allows you to access a training account only for registration, you will not be asked to pay for it or make a deposit. The minimum deposit is needed only when you want to switch to a real-money account. Once you are ready to check your skills in real trading, just go to your personal account and select a real account option.
How to activate a Demo on the Exness Site?
Exness provides various types of accounts to satisfy the needs of traders of all levels. It is difficult to recommend a particular account type without knowing the customer's personal preferences or trading style. But one thing is obvious – if you are new on the Exness platform or only at the start of your career in trading, then you must start with a demonstration account.
To register and create a demo account with Exness, traders should follow these simple steps:
- Visit the Exness website and fill in your details on the right side of the page. You should select your country of residence to see whether it is in the list of serviced locations, provide your email address and choose a password to enter the site.
- After logging into the system, you will be redirected to your personal page, where you can choose between a demo account and a real-money trading account by clicking the relevant button.
- By switching to demo account mode, you will be able to study the terminal without a deposit. Besides, you will enjoy a generous offer of virtual money in the amount of $10,000.
- If you want to activate a demo account, you also need to specify for which platform you need it - MT4 or MT5.
- Then you need to set up leverage, account currency, user name and trading password.
Please note that the demo version is not available for the Standard Cent account.
You can open a demo account on Forex without registration only if you want to test the MetaTrader 5 trading platform on its developers' website. You need to go to the official website of Metaquotes and download the installation file to your computer. All other brokers, including Exness, will ask you to become a user of their platforms to have access to further training.
Characteristics of Exness Demo Account
The features of the demonstration version will depend on the trading platform used by the trader, whether it is MetaTrader 5 or MT4. In other words, the functions of the demo account are always similar to their trading terminals and depend on the Exness offering in terms of asset classes, financial instruments, spreads, leverage and so on.
To access the demo account, the trader must download the trading platform in one of the following ways:
To access the demo account, the trader must download the trading platform in one of the following ways:
PC - MS Windows, Linux or Mac OSMS Windows, Linux or Mac OS (download)
WebTerminalIf a trader wishes to use Metatrader 5 Web Trader, access will be provided from the download page of the trading platform. Once the trader downloads and installs MetaTrader 5, they can use the login details provided on the account confirmation page to enter the trading platform and gain access to their Exness demo account.
What happens if you do not use your Demo Account?
Sometimes a trader opens a demo account on the Exness platform but does not use it for a long time. If you registered on the site and then left your account unused for a long period of time, it may be deactivated. Demo accounts are being removed to reduce the load on the broker's servers. If you have a training account on MT4, it will stop working 180 days after your latest login. And if you have an MT5 demo account, it will be accessible after 21 days of idle time. Deleted demo accounts cannot be restored.
What are the benefits of the Exness demo Account?
1
Forex trading
You can try Forex trading without investing even a dollar. It is the biggest advantage of a demo account. Theoretical knowledge does not protect a beginner from losses and risks. And demo trading can provide this opportunity.
2
Trading in real-time
You can test real trading in real-time. You can hardly understand the principle of financial market performance without experiencing it yourself. Trading on a demonstration account allows you to learn about the environment. No matter how many books on trading you read, it is a big difference when you can see rate fluctuation with your own eyes. Exness demo terminal has exactly the same interface as a real-money trading platform. And all quotes are true to life here. Practicing allows getting the hand of it. You will learn to better feel the coming change of the price.
3
Trading tools and instruments
You can check all trading tools and instruments for free. Before you make any deposit to your account and proceed to real deals, it is important to find out what tools this or that brokerage company offers to its clients. With a demo account, you will immediately be able to check what analytics are offered on the site. You can check what technical analysis instruments are available and what analytical materials you can expect from this company. Once you can use all these functions in trading simulation, it will give a better understanding of how they work and whether you will have enough tools for successful trading.
4
Better navigate the platform
You will learn to better navigate the Exness platform. Free access to the broker's terminal will allow you to learn in detail all its features and functions. You can freely try all of them as you do not pay even a cent for it. And such an approach will immediately show you the potential outcome of your actions. It will allow you to minimize mistakes when it comes to the real trading account.
1
Forex trading
You can try Forex trading without investing even a dollar. It is the biggest advantage of a demo account. Theoretical knowledge does not protect a beginner from losses and risks. And demo trading can provide this opportunity.
2
Trading in real-time
You can test real trading in real-time. You can hardly understand the principle of financial market performance without experiencing it yourself. Trading on a demonstration account allows you to learn about the environment. No matter how many books on trading you read, it is a big difference when you can see rate fluctuation with your own eyes. Exness demo terminal has exactly the same interface as a real-money trading platform. And all quotes are true to life here. Practicing allows getting the hand of it. You will learn to better feel the coming change of the price.
3
Trading tools and instruments
You can check all trading tools and instruments for free. Before you make any deposit to your account and proceed to real deals, it is important to find out what tools this or that brokerage company offers to its clients. With a demo account, you will immediately be able to check what analytics are offered on the site. You can check what technical analysis instruments are available and what analytical materials you can expect from this company. Once you can use all these functions in trading simulation, it will give a better understanding of how they work and whether you will have enough tools for successful trading.
4
Better navigate the platform
You will learn to better navigate the Exness platform. Free access to the broker's terminal will allow you to learn in detail all its features and functions. You can freely try all of them as you do not pay even a cent for it. And such an approach will immediately show you the potential outcome of your actions. It will allow you to minimize mistakes when it comes to the real trading account.
Disadvantages of a Demo Account
A training account has also downsides:
1
When working with no investments and losses, a trader cannot evaluate and feel the risk. In real trading, everything depends only on you, you can earn and lose everything very quickly. Only by understanding the potential risk, a trader can be profitable in the long run. And a demo account is not associated with the risk. Even if you lose your virtual funds, you can immediately replenish them.
2
You will never get true experience on a demo. On a training account, you can be very profitable, make several successful deals in a row, just by accidentally guessing the direction of the price. Many traders rush to a real account after this short-term virtual success and lose everything.
3
A demo account allows you to trade without nerves. You can even forget about the opened deal and get a profit quite accidentally. On a real account, there is too much stress and impatience which lead to disastrous mistakes. It is another demo account trap. You might think that it is very easy to speculate on the forex market. In fact, only tight control over the situation and over yourself can bring you success.
Tips on using a Demo Account
Now you know all pros and cons of free demonstration trading. So to make this stage the most efficient, always remember the following three things:
- 1Always operate with the same volumes you are going to trade on a real accountIt is vital to make your demo trading as realistic as possible. Exness automatically provides you with virtual money in the amount of $10,000. But do not rush to waste it all in one go. You are not going to risk thousands of dollars once you start real trading, right? So, try to begin your acquaintance with trading in small steps. Make sure that even your virtual deals do not exceed $1,000 at the start. Wait until you develop a realistic strategy and clearly see that it works. This approach will you better grasp the feeling of profits and losses.
- 2Learn and test all analytical toolsForex trading cannot be associated with gambling, where you normally rely on your luck only. Trading is entirely different as it involves the basics of technical and fundamental analysis. Therefore, it is crucial to master in full all analytical instruments available on the platform. It can be easily done when practicing on a demo account. Even if you operate with virtual funds, you should not make random and chaotic deals. It is always a must to take into account all the economic indicators for a particular asset. It will help you enhance your trading skills, and the future result will largely depend on it.
- 3Make sure you understand how to place ordersForex offers a variety of different trades. There are many types of market orders which have different names and characteristics. Usually, one and the same broker offers the same trade types on both demo and real accounts. So once you are training, take time to explore all order methods to clearly understand how they all work. Try to read attentively and understand in practice how all parameters of a deal work – spread, expiration time. It will allow you to apply various techniques to see their working algorithm in work.
- 1Always operate with the same volumes you are going to trade on a real accountIt is vital to make your demo trading as realistic as possible. Exness automatically provides you with virtual money in the amount of $10,000. But do not rush to waste it all in one go. You are not going to risk thousands of dollars once you start real trading, right? So, try to begin your acquaintance with trading in small steps. Make sure that even your virtual deals do not exceed $1,000 at the start. Wait until you develop a realistic strategy and clearly see that it works. This approach will you better grasp the feeling of profits and losses.
- 2Learn and test all analytical toolsForex trading cannot be associated with gambling, where you normally rely on your luck only. Trading is entirely different as it involves the basics of technical and fundamental analysis. Therefore, it is crucial to master in full all analytical instruments available on the platform. It can be easily done when practicing on a demo account. Even if you operate with virtual funds, you should not make random and chaotic deals. It is always a must to take into account all the economic indicators for a particular asset. It will help you enhance your trading skills, and the future result will largely depend on it.
- 3Make sure you understand how to place ordersForex offers a variety of different trades. There are many types of market orders which have different names and characteristics. Usually, one and the same broker offers the same trade types on both demo and real accounts. So once you are training, take time to explore all order methods to clearly understand how they all work. Try to read attentively and understand in practice how all parameters of a deal work – spread, expiration time. It will allow you to apply various techniques to see their working algorithm in work.
Wrapping up
It is always advisable to start with a demo account once you start trading on a new platform. This recommendation works even for those traders who have already enough experience on the market. A free training account allows everyone to learn the platform, its technical conditions, and test new strategies. But this trading mode should be used carefully. If you want to benefit from demo trading, make it as realistic as possible – operate with the sums you are ready to invest and lose, analyze all your mistakes and try all order types. Only this way, a demo account will provide you with the basic knowledge and experience that you need to move on to real trading.
FAQ
How to open Exness MT4 demo account?
A demo account becomes available to all registered users of the Exness broker. After the registration, you are redirected to your Personal Area from where you can open Exness demo account and switch to a real trading account when you need it. You can switch to a demo account at any time – to test a new strategy and enhance your skills with no risks.
How to open Exness MT5 demo account?
Opening a demo account on the Exness platform is automatic. Every trader gets access to it after the registration. Once you are a full-fledged member of the platform, you can log in and start trading for free from your Personal Area. No deposit is needed as it is a training account only that operates with virtual currency. You can use it for as long as you need and refund your virtual balance when it is empty.
How do I trade on Exness demo account?
All clients of the platform can freely use Exness trial account. It allows them to see how real trading works without financial risk. A demo account uses virtual currency while providing you with a chance to make trades in a realistic environment. Thus, you get practical knowledge of online trading with zero investments. Besides, even experienced traders may need a demo account to test various strategies without losses.
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General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.
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General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.
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