Yes, Deriv offers a free demo trading account for beginner traders to train on. The Demo account interface is ideal for traders who want to learn to trade without incurring any trading risks or losses. Deriv practice forex trading in a 100% risk-free environment.
Finding a reputable list about Deriv demo account local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth Demo Account review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to using this broker’s platform and their trading interface.
How to set up a Demo Account – Step by Step
To register for, and set up a demo account with Deriv, traders can follow these steps:
- Navigate to the Deriv website and visit the pages which feature the different account options. Traders can then decide which account that they would like to explore and select the option for a demo account.
- Traders will be redirected to a new page with an application/sign-up form that requires the trader’s email address. Next, traders must read and accept the terms and conditions by selecting the tick box next to this, and finally, select ‘create demo account’.
- Traders can also make use of their Google or Facebook credentials to sign up for a demo account.
- An email will be sent to the email address that the trader provided with an embedded link to activate the demo account.
- Once the trader has verified their email by clicking on the link, they will be redirected to the website where a pop-up prompt will ask for their country of residence followed by the request to enter a user-selected password.
- After this has been completed, traders will be taken to the interface of their chosen trading platform and subsequent demo account, which is tied to the platform.
Should traders have chosen the demo account option from the homepage, or in the section of the market, instead of selecting a demo account option of a specific account, they will be prompted to select which demo account they would like to proceed with, whether a Synthetic, Financial or Financial STP account.
A demo account is often referred to as a practice account due to it providing traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through the provision of virtual money with which to practice trading.
Demo accounts are not merely intended only for beginners, but it provides more advanced traders the opportunity to explore what Deriv has to offer.
Deriv Demo Account Features
Deriv’ demo account mimics a live trading account. Traders have access to the same functions, features, and options that they normally would on a live trading account.
The only exception is that the demo account is risk-free as traders make use of virtual funds to conduct their trading. Due to this, traders cannot withdraw any profits which are made on the demo account.
The features that traders can expect from a Deriv demo account will depend on the account that the trader wishes to explore and the corresponding trading platform, as each has its own unique functions and features.
This allows for traders to freely explore and decide which account and platform better suit their trading needs and objectives.
Pros and Cons
|✔️ PROS||❌ CONS|
|Demo account sign-up fully digital||None noted|
|Sign-up completed in minutes|
|MetaTrader platform offered|
|Adequate virtual funds offered|
|Variety of accounts offered, each with their own demo account|
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What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does Deriv offer a demo account?
For how long is the demo account valid?
Demo accounts are generally available for a duration of 30 days.
Which live trading accounts does Deriv offer?
- DMT5 Account – financial, financial STP, and Synthetic.
- DTrader Account, and
- DBot Account
What are the available deposit currencies for a live trading account?