Find out everything you should know about the flexible and customizable Exness demo account. Our Exness demo account review will help you understand how it works, the differences to live trading accounts, and how you can benefit the most from your Exness demo account. Additionally, you may read our up to date Exness broker review.
Exness Demo Account Features
Beginners, seasoned traders, copy traders, and algorithmic traders test, tweak, compare, evaluate, and bug-fix trading strategies and solutions in the Exness demo account.
Exness Demo Account Overview at a Glance
Exness Demo Account | Features |
|---|---|
Availability | Yes |
Account duration | Unlimited |
Demo platforms | MT4, MT5, Exness Terminal |
Account options | Customizable |
Algorithmic trading (EAs) enabled. | Yes |
Exness Demo account balance | Customizable |
Number of Exness demo accounts | 100 MT4 and MT5 per client |
How to Open an Exness Demo Account: Step-by-Step Procedure
Log into your Exness demo account with the final step of our step-by-step guide below.
Here is how you open your Exness demo account:
1. Go to the Exness website, and click “Open account” in the top right corner of the homepage.
2. Enter your country of residence, a valid e-mail address, and the desired password, and click “Continue.”
3. The proprietary Exness web-based trading platform loads. Click on “Demo,” which loads the $10,000 Exness demo account. Traders can top up the demo balance by clicking “Deposit.” It will add $1,000 with each confirmation.
4. Traders can add MT4/MT5 demo accounts from the “Traders Area.” Clicking on the drop-down menu icon next to the Exness demo account balance followed by “Manage Accounts” loads the back office.
5. Clicking “Open New Account” opens a customizable registration menu. Confirming the Exness demo account by clicking “Create an Account” completes the registration.
How to Use the Exness Demo Account
Tips on using the Exness demo account:
- Customize your Exness demo account similar to what you plan for your live portfolio.
- Consider the demo account limitations, including the absence of the psychology of real profits and losses.
- Never replenish your demo account balance
- Use risk management similar to a live account.
- Trade balance appropriate lot sizes
- Tweak and test strategies, gather trade data, and compare performances.
- Before buying and deploying EAs, test them for several months, as many work for short periods before accumulating losses
- Evaluate signal providers and compare their performances and metrics for a few months before committing capital
Differences between Live and Demo Accounts with Exness
Demo account traders never face live trading conditions, as no simulation exposes traders to all the necessary aspects of successful trading.
The primary differences between live and demo accounts are:
- No exposure to trading psychology, which separates up to 90% of unprofitable retail traders from profitable ones.
- No slippage, profits, or losses really happen, as no actual trading occurs.
Noteworthy:
- Immediate losses in live portfolios often follow profitable demo trading amid the relationship between trading psychology and how it influences trading
Pros and Cons of the Exness Demo Account
Considering the pros and cons of the Exness demo account allows traders to use it properly and avoid its shortfalls.
The pros of the Exness demo account are:
- Fast registration process
- No time restrictions
- Fully customizable
- Algorithmic trading allowed.
- Evaluation of copy traders and signal providers
- Choice of trading instruments
- Availability of trading platforms and accounts
The cons of the Exness demo account are:
- Lack of exposure to trading psychology
- False sense of security and accomplishment
- Could promote reckless trading, unrealistic expectations, and a wrong mentality.
Exness Demo Account Bottom Line
The Exness demo account ranks among the best in the industry, ensuring traders have no time restrictions. Exness offers a maximum of 201 demo accounts per user with flexible settings to reflect live portfolios as closely as possible. Traders should consider the absence of exposure to realm profits and losses and the resulting psychological limitations as the core concern of practicing with a demo account. The Exness demo account does not expose traders to psychology and slippage. Traders can customize the amount in the back office. The Exness demo account ranks among the best in the industry due to its flexibility and lack of time restrictions. No, the Exness demo account is free of charge. You can just wait - Exness deletes MT4 demo accounts after 180 days of inactivity and MT5 ones after 21 days. Alternatively, contact customer support and inquire about demo account deletion. You can open a demo account with Exness simply by registering on their website, via a swift online application. Traders can easily add more Exness demo accounts from the back office. Yes, Exness offers a maximum of 201 demo accounts per user.FAQs
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