If you intend to become an active investor in the Forex market and start independently earning on the difference in currency rates or on CFD on stocks or commodities, and you have acquired the theory and ready to get down to practice, then it is worth to give it a try and open a demo account with any Forex broker. Demo is short for demonstration. This means that you will be monitoring real-world market movements in your trading terminal, but the money you will be using for executing trades will be virtual, i.e. this is your test account in the Forex market.
Moreover, a demo account will enable you not only to evaluate your abilities in the currency market but also to try out stock trading (such as Google or BMW stock) or commodity trading (for example, gold or oil).
If you have just started trading in the Forex market, a demo account will help you:
- acquire trading skills and get prepared for real trading;
- examine options provided by the MetaTrader 4 and MetaTrader 5 terminals, see how analytical modules (indicators, etc) operate on a demo account;
- test your trading strategy;
- learn to make your own trading decisions and gain confidence, without which one is not able to deal with real money.
And all of that requires no investment of your own funds and carries no risk to lose them. Therefore, if you are are just starting to operate in Forex, then opening a demo account will be the right decision.
If you are an experienced trader and are wondering whether to start cooperating with TeleTrade, then testing how to operate with the company on a demo account will help you evaluate:
- the range of instruments;
- the speed of executing orders;
- the quality of the operation in the MetaTrader 4 and MetaTrader 5 trading terminals in general – a demo account will help you see strengths and weaknesses;
- test your trading strategies without losing own funds.
This means that a Forex demo account will help an experienced trader to evaluate all advantages and risks of operating with a broker.
How can I open a demo account in MetaTrader?
- Select the 'Terminal' menu item or click here.
- That page offers you multiple options to download the MetaTrader 4 trading platform, including a demo account.
- Download the setup file and install the program on your computer. Detailed instructions.
This virtual registration will guide you through some easy steps to help you successfully install the MetaTrader trading platform on your computer.
To install the MetaTrader platform, you must run the installation file by double-clicking on the setup file teletradecy4setup.exe.
Fig. 1 Run the installation file
The installer will open the MetaTrader TeleTrade. To continue the installation, click 'Next'.
Fig. 2 Installation program – welcome screen
Read and accept the license agreement, and then click ‘Next’.
Fig. 4 License Agreement
Select the installation folder and click ‘Next’ to continue.
Fig. 4 Installation Parameters
To complete the installation process, click the ‘Finish’ button.
Fig. 5 Completion of the installation process
If the option ‘Run this program after installing’ is not disabled, the MetaTrader platform will start automatically. In case the option has been disabled previously, you should run the program through the ‘Start’ menu.
Fig. 6 Manually start the program
Close the window of connecting your trading account.
Fig. 7 Connecting your account
Open the window of creating a new demo account.
Fig. 8 Opening a demo account
Select the ‘TeleTrade-Demo’ trading server for a STANDARD Account type or the 'TeleTrade-NoDealingDesk' trading server for a PROFESSIONAL Account type. Click ‘Next’.
Fig. 9 Select a trading server
Select to create a new demo account and click ‘Next’.
Fig. 10 Select the type of account
Add your personal information to the empty boxes, select the amount of money and type of account, and consent to receive our newsletters. Then click ‘Next’.
Fig. 11 Add your personal data
In the next window, you will receive your Login, Trader Password and Investor Password needed to connect to your account. You need to copy them to any text file. Click ‘Finish’ to complete the registration.
Fig. 12 Demo account opening completed
After completing the registration, you will receive a confirmation letter in the ‘Mailbox’ of the platform. It will provide the information about the demo account you have just registered.
Fig. 13 Demo account created
- Please note that in the process of installing you will be required to select the instruments you are willing to trade: currencies or CFD on commodities and stocks. If you are planing to only trade currencies, then you need to select the Forex account type, but if you are also interested in stocks and commodities, then you need to select the Forex&CFD account type. After installing the terminal, you will not be able to change the selected account type anymore. On the toolbar, only currency pairs meant for the Forex account type will be displayed; and CFDs and currencies for the Forex&CFD account type.
- Learn to make your own trading decisions and gain confidence necessary to trade with real money.
- In the process of installing and running the trading terminal, your account will be credited with virtual jQuery10,000, which you may use for trading in the Forex market. You can check your account balance in the 'Account History' tab at the bottom of the screen:
Your demo account in the Forex market is now opened. You may get down to testing the operation of the trading terminal and your trading strategies. Good luck!
Opening a demo account
Fill out an application and our consultant will contact you shortly. He will explain how to open a demo account and answer all your questions.