How to Open a Demo MT4 Account from MT4 Platform
The Forex Demo MT4 account to learn forex trading with is the MetaTrader 4 practice forex trading account. To open a new Forex Demo MT4 account for practice trading, a trader can do this direct from their Forex platform. Below using the MT4 software, on the top left corner: click File then click 'Open an Account' button key as displayed below.
Open Free Forex Demo MT4 Account MT4 Platform - MT4 Demo Account
Once you click on this link you'll be taken to your forex broker web site where you can register for MT4 demo account details of a Forex practice account.
Next step is to fill the following MetaTrader 4 demo account registration forms displayed below, the required data is:
- Your first name
- Last name
- Country
- City or town
- Phone number
- E-mail address.
After filling these MT4 practice account opening details on the form below, click the open trading demo account button.
Forex Demo Account Sign up - How to Open MT4 Demo Account
Once you fill MetaTrader 4 practice account opening form and complete this step, you will then receive confirmation details of your Forex Demo MT4 login and password details as shown below. A copy of these Forex login credentials will also be sent to your e-mail address.
MetaTrader Forex Demo Account Registration Confirmation
The FX trading login credentials of the free practice trading account you just registered for which are sent as an email will appear in your inbox as illustrated & shown on screen shot below.
Demo Sign Up Details Sent to E-Mail Address - Forex Demo MT4 Demo Account - Open MT4 Demo Account
Once you receive the Forex Demo MT4 account sign in details, you can now then log in into MT4 platform and start to access the forex market & practice trading on this Forex Demo MT4 practice account.
The link to also download the MT4 platform is also provided along with the sign in & password details upon registration of the Forex Demo MT4 account so that you can download MetaTrader 4 Software, if you haven't downloaded it.
Procedure for installing the MetaTrader 4 software, is covered in our previous MT4 demo tutorial course before this one: How to install MetaTrader 4 platform.
How to Log in to Forex Demo MT4 Account
To sign in to your MT4 Forex practice: Open MetaTrader 4 platform & at the tops left corner of MetaTrader 4 click 'File' then click Sign in as shown below:
Log in to Forex Practice Account on Forex Demo MT4 Practice Trading - Forex MT4 Demo Guide
The following MetaTrader 4 window will popup prompting you to enter your Forex Demo MT4 account login details and password. Enter the forex login details as shown and illustrated below and save the information by checking 'save account information' button so that there is no need to retype the next time you want to log-in.
Log in to Forex Practice Account
Enter details as below & sign in
Log in to Practice Forex Demo Account - MetaTrader 4 Demo Account Guide
You will then be logged in to the MT4 demo account as shown below:
Example of How Forex Demo MT4 Account Looks on MT4 - MT4 Demo Account
Once you have opened a free practice trading account you can then begin to practice the following:
- How to place forex orders
- How to open forex charts & place technical indicators
- How to interpret Forex charts
- How to monitor profits & losses
- How to navigate MT4 platform interface
While practicing all the above, the money used is virtual currency, meaning a Forex Demo MT4 trader will practice using virtual money but everything else including forex chart price movements will reflect the true forex trading market movement.
Practice Demo versus Real Forex Trading Account
The Forex Demo MT4 account only difference to the live forex account is the deposit, with a demo forex trading account a trader cannot deposit or withdraw money but with the real forex trading account a trader can deposit & withdraw money and all the forex trades will be transacted using real money and profits can be withdrawn & losses will be deducted from the deposited amount.
Forex traders should use this Forex Demo MT4 practice trading account to test out their forex strategy & practice forex trading until such a time that they can trade the forex market profitably. Then when they learn how to make a profit on their Forex Demo MT4 practice account then they can open a live forex account & begin trading the real forex trading market.
Once a beginner trader registers for the free Forex Demo MT4 account the next step is to learn the MT4 platform as well as learn Forex trading systems and forex trading strategies which will be used by the trader to generate forex trading signals for forex trading. The trader will then test these forex trading strategies on the Forex Demo MT4 trading account that they will have opened to test if these forex trade strategies are profitable. Once the forex trade strategies are profitable on the Forex Demo MT4 trading account and a trader starts to make consistent profits on their Forex Demo MT4 practice demo trading account then they can consider opening a real MT4 Forex trading account.
