FXGT Demo Account

After registering with FXGT, traders can open a demo account. We have conducted an in-depth FXGT demo account review, providing guidance on how traders can optimize their FXGT demo account experience, steering clear of its limitations and the pitfalls associated with demo trading.

Main Features of the FXGT.com Demo Account

FXGT.com allows traders up to two demo accounts per account base currency, totaling six possible demo accounts. Traders can open demo accounts on MT4/MT5 and customize the core settings. The FXGT demo account allows beginners to learn how to use the trading platforms, seasoned traders to evaluate the FXGT trading conditions, copy traders to evaluate signal providers, and algorithmic traders to test their trading strategies in simulation.

FXGT Demo Account Overview at a Glance

How to Open an FXGT.com Demo Account: Step-by-Step Procedure

With our step-by-step guide below, you will be able to log into your FXGT demo account with the final step.

Here is how you open your FXGT demo account:

1. The new website lacks an obvious demo account registration. Traders must register for an FXGT account by clicking “Register Now.”
2. The FXGT account registration asks for a name, e-mail address, desired password, country of residence, and valid phone number.
3. FXGT will send a confirmation e-mail.
4. Log into your FXGT dashboard and open and customize your FXGT demo account.
5. FXGT will send an e-mail with the account login details.
6. Traders must download the trading platform and can then start using their FXGT demo account.

How to Use the FXGT.com Demo Account

After traders register for an FXGT account, using the FXGT demo account is straightforward.

Here is how to use the FXGT demo account:

1. Log into the FXGT dashboard.
2. Download the desired trading platform.
3. Customize your FXGT demo account settings.
4. Use the credentials received from FXGT via email to log into your FXGT demo.

Differences Between Live and Demo Accounts with FXGT.com

Traders need to understand that no simulation can fully replicate the key elements of successful live account trading. While the FXGT demo account aims to simulate live trading conditions, traders will not fully experience the real market dynamics.

The primary differences between live and demo accounts are:

• Lack of exposure to trading psychology, a crucial factor that distinguishes profitable traders from unprofitable ones, accounts for up to 90% of retail trading losing outcomes.
• No slippage or other execution issues that are usual when trading live liquidity and of course profits and losses are fictional as no actual trading occurs.

Noteworthy:

• Traders often face immediate live portfolio losses after profitable demo trading due to the relationship between trading psychology and how it influences trading.

How to Best Use Your FXGT.com Demo Account

Demo traders can improve their FXGT demo trading experience by considering our tips below.

Tips on using the FXGT demo account:

• Use FXGT demo account settings similar to planned live portfolios.
• Recognize how the absence of exposure to trading psychology can affect your demo trading outcomes.
• Study the relationship between effective risk management and leverage utilized.
• Try to treat your FXGT demo account like a real money account.
• Trade lot sizes based on expected live deposits.
• Evaluate your strategy, tweak it, test new ones, gather trade data, and compare performances.

Pros & Cons of the FXGT.com Demo Account

By considering the pros and cons of the FXGT demo account, traders can use it properly and maintain awareness of falling into bad habits and demo account traps. Given that demo trading can create a deceptive sense of achievement, beginners should approach it with caution and a realistic perspective rather than consider testing this way a direct measure of their expected performance.

The pros of the FXGT demo account are:

• Swift online registration process
• No time restrictions
• Adjustable FXGT demo account balance and leverage settings

The cons of the FXGT demo account are:

• No exposure to trading psychology
• False sense of security and accomplishment
• May promote reckless trading, and unrealistic expectations, and foster a poor trading mentality with little regard for proper risk management.

FXGT Demo Account Bottom Line

FXGT demo accounts are available on the MT4/MT5 trading platforms. Traders can customize their demo account balance and leverage settings to reflect their planned live portfolios and therefore improve the reliability of demo trading results. The FXGT demo account does not expire if traders use it.

The FXGT demo account attempts to simulate live account trading conditions but crucially cannot simulate trading psychology and its effect on traders' decision-making. FXGT allows two demo accounts per account base currency. Beginners should incorporate educating themselves on trading psychology, risk management, and their careful use of leverage into their FXGT demo trading experience.

For additional up-to-date information on FXGT, read our full broker review.

FAQs

Is FXGT.com regulated?

FXGT.com remains regulated by the FSCA in South Africa, the FSA in Seychelles, the VFSC in Vanuatu, and CySEC in Cyprus.

Does FXGT.com have a no-deposit bonus?

A no-deposit bonus was unavailable during our FXGT demo account review, but FXGT.com offers it during promotional campaigns. The last one we found was a $30 no-deposit bonus.

Is a Forex demo account free?

The Forex demo account is free, and FXGT.com allows two demo accounts per account base currency, totaling six per trader.

What is the minimum deposit for FXGT.com?

The FXGT.com minimum deposit is $5, but it is payment processor dependent, which ranges between $5 to $100 per deposit.

Is FXGT.com a legit broker?

FXGT.com is a legit broker, founded in 2019, with a clean track record. It also has a capital adequacy ratio of 40%, four times the average capital-to-risk weighted exposure ratio per regulatory requirements, and a €1,000,000 liability insurance by Renaissance Insurance Brokers.

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