This is the mail I recd today from my demo account broker today( after 27 days since startup) :
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Hi,
Your AxiTrader Demo trading account is very close to expiring. Your action is required.
You can extend your AxiTrader MT4 account to an unlimited version, one that you can keep for as long as you like. Simply open a live AxiTrader account with as little as $200, even if you’re not planning on trading just yet, and we can set up your account to do this.
But don’t delay, your Demo account will automatically expire in 3 days and be permanently deleted from our system.
Please ensure you contact me before the account expires to keep your account history.
If you have any questions just reply to me or you can call me directly on the number listed below.
Kind Regards,
Peter
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Question : are there brokers with whom demo accounts can be opened > 6 months , without having to shell out any money ?
No broker has ever asked me to do this, usually either they don’t bother to close my demo accounts or they close them automatically after a set period of time but after a phonecall to customer service they’ve left them alone. This is definitely highly unusual to me.
How tiresome - and what a strange way to try to attract and retain potential customers, in these increasingly competitive days?!
Yes, loads. I’ve had the same demo account at Oanda for more than 10 years. I still occasionally use it to test out new ideas, but it’s never inactivated if I don’t use it for a long time.
something for the fxpro account (suggested above)
what real-life leverage should one go for in a live account ( I just want to replicate a real live scenario with the demo account)
the leverage offered varies from 1:1 to 1:500 for fxpro , what should be a good conservative leverage ? (or it does not matter in real-life …brokers do/ do not charge extra on the leverage provided ?)
1:50, I think, is generally considered “average” (but is in fact the maximum leverage permitted by law, in some countries).
Leverage in itself isn’t important to your overall prospects, [I]as long as you know how to work out appropriate position-sizing for your account size and risk management parameters[/I].
I don’t doubt that it’s also true, however, that people attracted to high leverage tend to do worse, overall: this isn’t [U]because[/U] of the leverage [I]per se[/I], but rather because the highest leverage users typically look at their trading in terms of profit maximisation rather than in terms of risk management (in other words, they’ve misunderstood at a very fundamental level “what trading’s really all about”, so they’re inevitably going to be among the chronic losers).
To be honest, I always used 1:100 leverage, myself, simply because it was what I happened to start with and it certainly makes everything very quick and easy to work out, so I just stuck to it.
Ha ha ha! May be traders are not trading with that broker anymore! Samething happened to me when I started with HY Market! This awful broker provides demo account for only a week! You are lucky enough to have it for 30 days! ha ha!
Yes, there are brokers out their who provides demo accounts with long time validity. FxPro, XM, Exness, HotForex- try one of these brokers.
That’s really strange cuz deterring clients in such a dumb way is highly unreasonable considering the costs of attracting them to trade on the platform. Maybe their marketing manager went nuts?
Most brokers offer unlimited demo accounts as a part of the services in “free package” some of them even offer free VPS (which really costs money unlike demo accounts). Brokers I trade with offer most competitive trading offers (besides essential ones like spreads, commissions, execution etc.)
So I would recommend you to change trading venue if you still mulling over this issue then you can go with Hotforex or FXCM, my two current brokers.
Good luck
