Demo Broker w/ MT4

Broker Discussion Forex Brokers
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Hello babypips,

I am looking for a broker where i a trade demo with the mt4 platform.

I am having trouble setting up a demo with forex dot com. The sign-up stalls and ‘account-type’’ cannot be selected. when going for a demo. Any advice or other broker recommendations for a fake-money account with mt4 scripts?

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Welcooome welcome. :blush: Hmmm. :thinking: I wonder what’s causing the issue with Forex.com. :open_mouth: I tried signing up for them and it worked just fine for me. :open_mouth: But anyway, I demo traded with Oanda. :slight_smile: I think their interface is pretty beginner-friendly, and they also have the option for MT4! Goood luck! :smiley:

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Hi @kmurz, welcome to babypips. If you’re looking for broker recommendations, you can even check Fxview for demo trading. They offer Meta trader 4. Also, I’d say whichever broker you do demo trading with, do practice for a good time, before going live.

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Just use Forexchief, very easy to download, install and start trading. Don’t let any broker stress you up with registration and setting up a trading platform. You can start same minute. I hated the stress I went through with some of these brokers that has rigorous registration procedures.

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avoid fxcm go with oanda or IC Markets The reason why u should avoid fxcm is that says off the quote to many times or above when u want to enter the market. Basically if the market has moved 1 micro pip away from where u wanted to get into the market it would not allow u to trade, and nobody from fxcm has taught me how to overcome this problem, now imagine if you are trading live. in it does not allow u tyo trade and nobdy has helo

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Believe it or not, setting up an account with Oanda is a hassle.

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I thought same too. Even hotforex gave me headache. They rejected by bank statement several times I got tired. I had to settle with Tenkofx and I don’t regret it, turns out to be good all round.

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Hello @kmurz, welcome to babypips :slight_smile: I think all the brokers allow demo trading. You can try pepperstone,IC markets,Fxview,Hot forex.

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You can try demo account from Forexchief.com. It’s actually quite easy to install and setup.

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I wonder why you are not able to create a demo account with the above mentioned broker. Almost all the brokers provide a Demo account. Suggest you go with a broker for a demo with whom you will ultimately open a live account since prices provided by every broker differ since their Liquidity Providers are different. So if you want to try out your strategies, try out with a broker with whom you would finally like to trade.

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There are dozens of them. Some that I have personally used are TurnkeyForex, FP Markets, ATFX, and GO Markets. But I wonder why you are facing issues with Forex com. I have never heard any complaints about it before. Hope you have already contacted the customer care to discuss the issue.

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Hi kmurz, if you Google " Forex Brokers that Allow All EAs", you’ll find good MetaTrader 4 (or 5) brokers with time unlimited demo accounts. If you are going to open an MT4 account, you might as well do so with broker that supports all trading styles :wink:

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Haven’t heard about Tenkofx. But even Coinexx is very trader friendly.

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I trade with both FXCM and OANDA, and have not had the problem you describe with off quotes with either.

What product are you trading, and what is the deviation setting for your orders?

For example, below I have my maximum deviation set to 100 to trade GBP/JPY, which is actually 10 pips, not 100, since FXCM and most brokers now quote prices to one-tenth of a pip.

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If you have your maximum deviation set too low, that could be why you kept having errors placing trades with FXCM.

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Try out the fxview then. They offer MT4 platform and you can test their conditions on demo.

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I am quite confused with hotforex, gonna open a demo account with them and will share the experience :slight_smile:

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Try with Forex24, they have demo account option on the mt4 platform!

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Hot forex charges a high commission as compared to my other brokers but I have heard that they provide some offers. Has anyone tried it?

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A high trading commission is not good for small time traders. Scalpers avoid such. Only traders who open long duration trades for large profit can afford it. This is why many scalpers use Tenkofx. I see it among brokers on scalping EA vendor websites.

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Yes it is always better mainly for the beginners to select a broker which charges low commission