Is it possible to open up a Demo Account without having to make a deposit (e.g., $500)?
I dont think so - depends on the broker but unfortunately most brokers use this “demo account” as a bit of a fish hook. It traps people in with false hope.
Perhaps request with your broker to reset your demo account.
Wrong BA.
Find yourself a decent broker, regulated with a reputable body such as the UK or US. Open a demo account and away you go.
No deposit required
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Good brokers let you open a demo account for free.
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Five or six years ago, I had a Demo with Forex and FXCM, but I basically wiped out my real account and never did anything else or checked on it for five years. Now I am trying to get back into trading. Not sure if I would have to open a new account with these brokers or not.
Of course you can get a demo account!
There are mobile apps but if you are a bit more serious than that, you could start practicing with a trading simulator. There are some good companies I trust but I’m also wondering which ones you guys liked.
Yes opening demo account is completely free. You will find plenty of good brokers where you can open demo account without depositing real money. One little suggestion, start trading live only when you developed a strategy. Dont trade on demo randomly.
Yes, there are many brokers who are giving Free demo accounts for 2 or 3 months time periods.
Any good regulated broker should have free demo accounts.
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CORRECTION- To your smart alec comment. I misread and misunderstood the question.
I assumed he meant a “demo deposit” as i thought the question of paying for a demo seemed too ridiculous.
However sarcastic your comment was, it is true. A demo from a broker in 90% of instances is free and requires no real monetary deposit from the user.
Hi @Dino1,
As others have already said, demo accounts are free with most brokers.
That also means they are a great opportunity to test the customer service of multiple brokers. You mentioned you used to have a demo with FOREX.com. Our demos default to 30 days, but that’s easily extended if you want more time to practice. Simply email your demo account details to social at forex dot com.
You are welcome to demo any of the platforms we offer including our new Advanced Trading Platform, TradingView, NinjaTrader and MT4 (including a web version). We also have a dedicated discussion thread on this forum, so please feel free to reach out to us anytime with questions: FOREX.com discussion
I couldn’t fully get it. You had Demo accounts with Forex and FXCM but never used them and went straight to a live account and lost the whole amount? And now you want to get back to trading – Live or Demo? If Live I believe you could be able to continue with your old live accounts (for sure ask the broker); if Demo – most probably you will need to open new account as usually demo accounts are set to expire from the borkers for different reasons.
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Yes mate, it’s possible! But, try to use transparent Forex Brokers (regulated Forex Brokers).
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What the blazes are you on about?
There is nothing sarcastic in my comment. I stated, correctly, that your reply was wrong then gave a correct reply for the OP.
Perhaps you should take more care reading posts so as not to misread or misunderstand them in future (Now, that is sarcasm)
A demo account is of much more importance as it provides you an area to work on without the chance of losing money. Brokers have the other intentions related to the demo account but you have to use it in your way. Stay blessed!
Sorry to hear about your real account. Did you get a demo account opened yet?
Demo account is the best option for the beginners. Because they can learn without the fear of losing the money. This is the best platform to learn about the forex market. You must have to get knowledge about the forex market and also to develop the strategy and technique.
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Yes, you can open up a demo account without having deposit a cent. There are many good ECN brokers out there who provide “Live” like trading conditions without any deposit requirement. Trading on demo account further enables you to test various strategies, scripts, EA’s etc before playing with your actual funds. I would always advise newbies to practice on Demo before risking your trades.
Try to work with a regulated and experienced broker and practice for sufficient time with the demo trading accounts. And you won’t require to pay any amount to start your demo trading account.
Opening up a demo account is a very good for beginners. Beginners learn from here without losing their money. They can also be able to know about the market and also about the behaviour of the market. This account also helps them to take some experience and knowledge about the market.