FxPro Demo Account: Your Risk-Free Trading Journey
The FxPro demo account is a necessary tool for beginners and seasoned traders.
Read my FxPro demo account review to receive pro tips on achieving the most beneficial demo trading experience. It will also help you avoid common demo traps when using your FxPro demo account.
Main Features of the FxPro Demo Account
I recommend traders customize their FxPro demo account to reflect their planned live portfolios. While they expire after 180 days, traders can open an unlimited number of FxPro demo accounts.
Beginners can test the four FxPro trading platforms using the FxPro demo account. It also allows seasoned traders to evaluate trading conditions and test new strategies, copy traders to test signal providers, and algorithmic traders to test and bug-fix their trading solutions.
FxPro Demo Account Overview
FxPro Demo Account | Features |
|---|---|
Availability | Yes |
Account duration | 180 days |
Demo platforms | MT4, MT5, cTrader, FxPro Trading Platform |
Account options | Customizable FxPro demo accounts |
Algorithmic trading (EAs) enabled | Yes |
Account balance | Customizable FxPro demo balance |
Number of FxPro demo accounts | Unlimited |
How to Open a FxPro Demo Account: Step-by-Step Procedure
With my step-by-step guide below, you can log into your FxPro demo account with the final step.
Here is how you open your FxPro demo account:
1. Click “free access to Demo” on the FxPro homepage, followed by “Open FxPro Account.”
2. The application asks for the country of residence, e-mail address, and desired password. Click “Register with FxPro” to complete the registration.
3. FxPro will send a confirmation e-mail.
4. Traders can now download their preferred trading platform and configure their FxPro demo account.
How to Use the FxPro Demo Account
Consider my tips below to improve your FxPro demo trading experience and avoid pitfalls.
Tips on Using the FxPro Demo Account
- Understand the impact on your trading results of a demo account not exposing you to trading’s emotional rollercoaster.
- Incorporate educational lessons from trading psychology to risk management strategies and their relationship to leverage.
- Evaluate your strategy, tweak it, test new ones, gather trade data, and compare performances.
- Study the relationship between risk management and leverage.
- Treat your FxPro demo account like a live account.
- Customize your FxPro demo account settings to reflect your planned live portfolio.
- Trade lot sizes based on expected live deposits.
Differences Between Live and Demo Accounts with FxPro
The FxPro demo account attempts to simulate live trading conditions, but traders will never experience them. Traders must realize that no simulation can expose them to the full reality of trading.
The primary differences between live and demo accounts are:
- There is zero exposure to trading psychology, which separates up to 90% of unprofitable retail traders from profitable ones.
- Traders cannot experience slippage, profits, and losses, as no actual trading occurs.
Noteworthy:
- Many traders face immediate live portfolio losses after profitable demo trading due to the relationship between trading psychology and how it influences trading.
Pros & Cons of the FxPro Demo Account
Demo trading can yield a false sense of accomplishment. Therefore, beginners must approach the FxPro demo account realistically. You can maintain awareness of mistakes and demo traps by considering the pros and cons of the FxPro demo account.
Pros of the FxPro Demo Account
- Customizable FxPro demo account balance and leverage settings.
- Swift online registration process
- Unlimited demo accounts
Cons of the FxPro Demo Account
- No exposure to the full range of trading psychology, so can give a false sense of accomplishment.
- FxPro demo accounts expire after 180 days.
- MT4/MT5 demo accounts remain limited to 70 open positions.
Bottom Line
The FxPro demo account attempts to simulate live account trading conditions, but it cannot simulate trading psychology and its effect on traders. Traders should customize their FxPro demo account to reflect their planned live portfolios, which improves the reliability of demo trading results.
For additional up-to-date information in FxPro, read our full broker review. FXPro ranks among the safest Forex brokers. It has 20+ years of operational excellence and complies with the UK FCA, the CySEC, the South African FSCA, and the Bahamas SCB. The FXPro demo account expires after 180 days, but traders can open an unlimited amount of FXPro demo accounts. Every trader must evaluate the FXPro trading environment and determine if it suits their trading needs. Overall, FXPro presents a competitive Forex brokerage in its commission-based trading accounts. FXPro does not charge account fees or subscriptions, but traders will pay spreads, commissions, and swap rates when trading with FXPro. FXPro has a demo account, which expires after 180 days, but traders can open unlimited demo accounts.FAQs
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