Pros & Cons
- Dynamic online broker with multiple trading platforms on offer
- Earn rebates and one-on-one support as an eligible Active Trader
- Intuitive and practical demo account available
- Low fees for forex trading
- Account inactivity fees apply
Below, we have outlined the most frequent and essential questions that apply to the Forex.com practice trading account. If you like the sound of this online broker, we’ve compiled an extensive review of Forex.com.
When it comes to using a demo trading account, the entire idea behind it is to simulate the real-life trading experience. A demo account is funded with fake money which can be used to engage in online trades. In the case of the Forex.com demo account, you’ll receive funds ‘worth’ $50,000 which can be used to access a number of different markets.
These demo accounts are aimed at prospective customers that are looking to experiment with the site before signing with a live account and funding the account with real money. A demo account is supposed to mirror the live trading account to the fullest possible degree. Although it is not possible to re-create the live trading experience to the nth degree, you should be gaining as much exposure as possible. Forex.com has managed to do this by including many of the trading tools and features found when using the real trading account. You can also customise your demo account as you would your live account and make use of live market data and news so as to analyse market trends and price movements.
Ultimately, demo accounts have been created for the sake of the customer. It’s a great way of online brokers to advertise their trading platforms and enables customers to test out different platforms without having to open themselves up to any risk. You wouldn’t want to deposit funds only to find out the platform doesn’t cater to your trading preferences.
There are certain online trading platforms that will require you to download software in order to use the demo account. But, the most effective and convenient demo accounts do not require you to download software. The latter can be accessed directly from the web. There’s no need to fill up your storage space.
Forex.com has realised this and enables you to access the demo account using the web trader. All that you need is a steady internet connection and you’ll be able to use the web trader via your desktop, laptop, or mobile device. If you are using your mobile device, the demo web trading platform will be optimised for mobile use.
Be sure to remember your login details or opt for your device to remember your details. We urge you to keep in mind that you’ll have 90 days in which to make use of the demo account. Thus, you should try to use it as much as possible so that you gain the understanding needed to take on the live trading platform.
As we have alluded to, using a demo account is one of the best ways in which to gain insights into online trading. Application is key in this field and there’s no better way to get practical experience than by using a decent trading platform.
The Forex.com demo account has included a number of features and gives you access to a wide set of asset classes. If you happen to be a novice trader, the demo account will be the perfect launching pad for future online trading endeavours. There really is no better way in which to gain confidence and a wider perspective on how markets work and how best to facilitate and execute trades. A functioning demo account is the backbone to any online trading platform’s educational resource base. Although it is important to take the time to read up about varying investment terms and the latest news and developments, there’s no substitute for experience. Therefore, we urge you to consider using the Forex.com demo account prior to opening a live account.
Forex.com has done a good job of including a number of different asset classes and instruments in the demo account. Therefore, you won’t be limited in your choice of trading options if you do decide to give the demo account a go.
You can trade markets including Forex, Indices, Commodities, Equities, Metals, FX Metals, Cryptocurrencies, Bonds, and ETFs. You’ll find a number of trading options under each respective market. Search using the toolbar on the left or browse popular trading options. You can filter markets or track CFDs such as Germany 30 or UK 100.
Below, we’ve highlighted several markets and listed a number of options for each. All of which can be accessed when using the demo account at Forex.com UK.
Forex: You can access all 80+ pairs that include major and minor pairs. There is also an impressive selection of crosses such as FX AUD-Crosses, FX EUR-Crosses, FX GDP-Crosses, and FX CAD-Crosses. FX.com is known for their forex trading options and they have not disappointed in this regard.
Commodities: You can trade energy commodities such as US and UK crude oil CFDs and natural gas. You’ll be able to trade grain commodities that include soybean, wheat, and corn. You can also access soft commodities such as coffee, sugar, and cotton.
Metals: Using the demo account from Forex.com, you can track and trade metals such as copper, gold, palladium, and silver. There are also FX Metals included in the demo account. This will give you insight into spot prices and how to trade FX Metals such as XAG/USD or XAU/GDP.
Bonds: There are a number of bonds that can also be traded using the Forex.com practice account. These include BTP Italian Bonds, US T-Note 5Yr and 10Yr, and Euro Shatz – to name but a few!
Cryptocurrencies: When it comes to trading cryptocurrencies using the demo account, you’ll have access to popular cryptos such as Bitcoin, Ethereum (Ether), Ripple, Litecoin, and Bitcoin Cash. Keep in mind that you’ll be trading crypto CFDs via the Forex.com platform. If you’re looking to purchase crypto outright, then this is not necessarily the platform for you.
As you can see, you’ll have access to a number of trading options when you use the Forex.com trading account. It’s a great way to start off your online trading career. It’s definitely one of the best ways to gain a foothold.
When it came to accessing and using the Forex.com demo trading account, I was astounded at the ease of the entire process. Gone are the days of having to fill out heaps of forms or complete a tiring registration. As for the actual demo account, I’m ecstatic to be the bearer of good news; Forex.com has hit the nail on the head. Keep reading to find out more about my personal experience from opening a demo account and placing my first demo trade!
In order to actually access the demo account, you need to visit the official website. You’ll find a step-by-step outline in the section if you’re wondering how to open an account. Once you have managed to access the official website and complete the registration process (takes a minute), you’ll be able to log into your demo account. It’s as easy as that. There’s no need to download any software when it comes to using the demo account from Forex.com.
The demo account can be accessed by using the web platform. Once you have logged into your demo account, you’ll receive 9 tips which will help you in navigating the platform and enable you to find your feet a lot quicker. The tips take you through your workspace and relevant tabs; shows you how to add additional trading components; outlines where to browse markets; and a number of additional insights.
From here, you can enable 1-click trading and start assessing different market data. The actual action of opening a position or executing a trade was very efficient. I experienced no issues relating to this practical activity. As it is important that the platform responds when necessary without delays, this bodes well for the live trading account.
Our coverage of the Tickmill test account will take you through another exciting platform that has a useful demo account on hand. I’m rather impressed with the overall Forex.com demo account and certainly urge you to give it a go. There’s no reason not to as you have nothing to lose and a lot to gain!
Beyond Demo Accounts: Useful Information About Forex.com
When it comes to significant differences in terms of the demo account and the live trading account, the biggest factor is that you are not risking capital when using the demo account. The demo account is a core element of the educational resources on hand within the Forex.com platform.
As such, the demo platform attempts to mirror the live trading platform as best as possible. You’ll find that the pricing available in the demo account is the same as the live account. However, not all pricing is taken into account. You’ll find that rollover fees are not simulated when using a demo account. You’ll also not be exposed to all external market conditions and factors that may affect the price of underlying assets and the execution of trades.
When it comes to spreads, the demo account will have tighter spreads while you’ll find that spreads may vary far more with the Forex.com live account. If you are engaging in trades that don’t have fixed spreads, the chances are your live trading account will factor in a number of additional facets.
When it comes to getting started with the Forex.com practice account, all you need to do is follow the steps outlined below. Here, we’ll provide you with the necessary insight needed to get involved with your 90-day demo account – all of which is risk free!
- Click on the link featured on our site and find yourself on the official website of Forex.com.
- Next, you’ll need to click on Test Drive With Demo. A pop-up box will appear. You are required to fill in all your info such as your country of residence, name, surname, mobile number, and valid email address.
- A confirmation email will be sent to your account.
- Once you have verified your email, you’ll be able to access the Forex.com demo account.
As we mentioned above, the easiest way to do so is by clicking on the link at Betting.co.uk Finance. You’ll have this to be the most convenient way in which to set up your Forex.com test account. There’s no time like the present so get started as soon as you possibly can! If you prefer to keep your options open, head over to the Plus500 demo trading account.
Conclusion – A decent demo account from Forex.com
It is important to take into consideration that not all online brokers offer demo accounts. Although it has become common practice, certain online brokers haven’t taken the time and effort to offer such a feature. In this regard, Forex.com has managed to catch the bus and may well find themselves leading the pack with the comprehensive Forex.com practice trading account. You will provide yourself with the much-needed insights and capabilities to start trading with more confidence and skill.
If the Forex.com demo account as well as the overall platform doesn’t appeal to you, there’s no need to worry. At Betting.co.uk Finance we have managed to find the best possible demo accounts available to UK traders. Take a look at the latest Swissquote demo account or the
FP Markets practice account.
🔖Does Forex.com offer a demo account?
Online trading platforms have realised that it is necessary to offer demo account options to potential traders and customers. This is particularly important when it comes to enabling rookie traders to find their feet. It also allows experienced traders to get a feel for the site. When it comes to the latest Forex.com demo account, we’ll bring your attention to whether Forex.com actually has one and if so, how you can access it.
🔎How do I access the Forex.com demo account?
Accessing a demo account is straightforward. All that you need to do is create a free account and you’ll be one step closer to using the Forex.com practice account. In our latest brief on the Forex.com practice trading account, we’ve outlined all the necessary steps that you will require in order to successfully access the Forex.com demo account without having to encounter any cumbersome hurdles. Use Betting.co.uk Finance for all your trading needs.
✅Is the Forex.com practice account useful?
You’ll find the latest Forex.com test account, as is the case with most online demo accounts, can be of great use. It’s important that you use the platform in the correct way so as to maximise the practical applications at your disposal. You’ll find that if you approach the Forex.com demo account in the right way, it’ll add great value to your online trading activities. Be sure to use our guide on the Forex.com practice account as a way of finding out whether it is for you.
🔮Is the Forex.com practice account similar to the real trading account?
The entire idea behind a trading account is that it is supposed to mirror the real trading account. This allows you to use the demo account in order to gain exposure and an understanding of how the real account works. Certain trading platforms managed to create a more realistic demo account than others. Take a look at our coverage of the Forex.com practice account to find out if it’s worth trying out.
⚡Does it help using the Forex.com demo account?
It will certainly help using a demo account. This applies to most online trading demo accounts. Be sure to check out our coverage of the Forex.com demo account to find out more about how this account can help you improve your trading approach and techniques. At the very least, you’ll find out whether this platform is actually worth using./faq-item]