Understanding What MetaTrader 4 Demo Account Means
A demo account is an account offered by brokers to produce a real market environment on the trading platform. The huge difference is that instead of trading with real money, virtual funds are used. You can’t lose any real money here when using the demo account. The same environment happened in MetaTrader 4.
MetaTrader 4 (MT4) is a trading platform that was developed by MetaQuotes in 2005. Although it is associated with forex trading, MetaTrader 4 is used to trade various markets, including:
- Forex
- Indices
- Commodities
All these are done through CFDs. To join the online trading business, you should create a mt4 demo account for free.
The demo account
The demo account is an account offered by the brokers simulating the real market environment on their trading platform. Here, you are not trading real money, instead, virtual funds will be used. You can’t lose any real money when using the demo account. The purpose is to mimic live trading conditions as closely as possible, yet there are minor differences.
Instead of opening a demo trading account, you can access virtual funds to start testing strategies and risk management in replicating the live trading environment.
The MetaTrader 4
MT4 is a good tool for forex trading beginners to begin their journey in the forex market. The most significant advantage of using MT4 is that it is good for beginners and professional traders alike.
Who can use the demo account?
Demo accounts can be used by everyone, who has already created an account. The demo account expires after 30 calendar days, but you can request a non-expiring version of the demo after signing up for the live trading account. The demo accounts are not only used by beginners but also by experienced traders who want to conduct testing without risking their real money.
What markets can trade using a demo account?
All markets are available through the trading platforms on the live account, which are available on the demo version, except for the single-stock CFDs. It means you can test the strategy on all the forex pairs, from majors to minors and the exotic currency pairs, including:
- stock indices
- commodities
- cryptocurrencies
Is the MT4 demo account possible to use on mobile?
You can download the MT4 app from the App Store and Google Play Store.
How long does the MT4 demo account last?
MT4 demo accounts may expire automatically after 30 days unless you have the live funded account and will request to set it to non-expiry for you. The trader demo account doesn’t expire when logged into at least once a month.
How to use the MT4 demo account on PC?
After you sign up for the demo account, you will receive a welcome email with the login details and link to install the MT4 on your PC. The installation takes less than 5 minutes and can log in to the account using the credentials provided in the email.
So, if you are interested in trading online, you can have an MT4 demo account first to start the transaction.
