Trade Forex Trading

Learn Forex Lessons, Strategies and Technical Analysis

How to Open a Forex Demo Account From MetaTrader 4 Platform

The Forex demo account to learn currency trading with is the MetaTrader 4 demo Forex account. To open a new demo account for practice trading, a trader can do this directly from their Forex trading platform. Below using the MetaTrader 4 platform, on the top left corner; click File then click “Open an Account” button as shown below.

 

How to Open a New Demo Account From MetaTrader Forex Platform

Open Free Forex Demo Account MetaTrader 4 Platform

 

Once you click this link you will be taken to your currency broker website where you can register for details of a Forex practice account.

 

The next step is to fill the following form shown below, the required information is:

  • Your first name
  • Last name
  • Country
  • City or town
  • Phone number
  • E-mail address.

 

After filling these details on the form below, click the open trading demo account button.

Forex Demo Account Registration Details

Demo Registration - Online Trading Practice Account

 

Once you fill the form and complete this step, you will then receive confirmation details of your online trading demo login and password details as shown below. A copy of these details will also be sent to your email address.

Demo Account Registration Confirmation From Forex Broker

MetaTrader FX Demo Account Registration Confirmation

 

The details of the free practice trading account you just registered for that are sent as an email will appear in your inbox as shown on the screenshot below.

Forex Demo Account Registration E-Mail Confirmation

Demo Registration Details Sent to E-Mail Address - Currency Trading Practice Account


Once you receive the login details, you can now then login into the MetaTrader 4 platform and start to access the financial exchange market and practice trading on this demo practice account.

 

The link to also download the MetaTrader 4 platform is also provided along with the login and password details upon registration so that you can download the MT4 Software, if you haven't downloaded it.

 

The procedure for installing the MetaTrader 4 platform, is covered in our previous lesson before this one; How to install MetaTrader 4 platform.

 

Regulated Forex Broker

Tight Spreads - EURUSD: as low as 0.1 pips, GBPUSD: as low as 0.1 pips, USDJPY: as low as 0.1 pips Choose Tight Spreads Account

Having studied our top traders, We have incorporated aspects of their trading in our Forex Trading Plan

Get Our Forex Plan: Download Forex Trading Plan

Market Sentiment: Risk Appetite - High Yielding Currencies vs The Risk Averse

Eurozone Market Sentiment: For Example: Eurozone Economic Growth Gains Momentum in November Fueling Risk Appetite

Open Forex Account Early - Takes only 5 Minutes: Open Forex Account

 

How to Login to Demo Forex Trading Account

To login to your MetaTrader 4 FX trading demo; Open the MetaTrader 4 platform and at the top left corner of MetaTrader 4 click “File” then click Login as shown below:

How to Login to Practice Demo Account on MT4 Platform

Login to Forex Trading Practice Account on MT4 Software

 

The following pop up widow will pop up prompting you to enter your login details and password. Enter the details as shown below and save the information by checking the “save account information” button so that there is no need to retype the next time you want to login.

Demo Account Login and Password Details

Login To Forex Trading Demo Account

 

Enter details as below and login

Save Demo Account Information Login and Password

Login to Practice Forex Trading Demo Account

 

You will then be logged in as shown below:

Example of How Forex Demo Account Looks on MT4 Platform

Example of How Forex Demo Account Looks on MT4 Platform

 

Once you have opened a free demo trading account you can then start to practice the following:

  • How to place trading orders
  • How to open charts and place technical indicators
  • How to analyze Forex charts
  • How to monitor profits and losses
  • How to navigate the MetaTrader 4 interface

 

While practicing all the above, the money used is virtual currency, meaning a demo trader will practice using virtual money but everything else including currency price movements will reflect the true market movement.

 

Practice Demo versus Live Account

The practice demo trading account only difference to the live account is the deposit, with a demo a trader cannot deposit or withdraw money but with the real account a trader can deposit and withdraw money and all the trades will be transacted using real money and profits can be withdrawn and losses will be deducted from the deposited amount.

 

Traders should use this practice trading account to test out their strategy and practice currency trading until such a time that they can trade the currency market profitably. Then when they learn how to make a profit on their demo practice Forex account then they can open a live account and start trading the real foreign exchange market.

 

Once a beginner registers for the free demo trading account the next step is to learn the Forex trading platform as well as learn Forex trading systems and trading strategies which will be used to generate trading signals for trading. The trader will then test these strategies on the Forex demo trading account that they will have opened to test if the strategies are profitable. Once the trading strategies are profitable on demo trading and a beginner starts to make consistent profits on their FX practice account then they can consider opening a real Forex trading account.

Tight Spreads - EURUSD: as low as 0.1 pips, GBPUSD: as low as 0.1 pips, USDJPY: as low as 0.1 pips Choose Tight Spreads Account

Poland FX Seminar Gala

XM Account Holders Attend Poland FX Seminar

XM Account Holders Hungary Seminar

Malaysia Seminar

XM Account Holders Thailand Seminar

Should you open an XM Account this is exactly how it looks like:

Forex Account Secure Clients' Area - Trader Cabinet

Silver and Gold Online Trading

CFDs Trading and Forex Trading

Forex Trading Bonus Up To $5,000

Regulated Broker

 

Up To $5K Bonus

Forex Account Opening Bonus

Forex Broker Rankings

Open Forex Account

Open Demo Account
Open Real Account

Top MQL5 EA Robots

Top MQL5 Automated Trading Expert Advisors

Top MQL5 Signals

Top MQL5 Forex Signals Service Providers on MetaTrader 4