Dukascopy Demo Account

Dukascopy - Demo Accounts

 

How to set up a Demo Account – Step by Step

 

To register for, and set up a Dukascopy demo account , traders can follow these steps:

  1. On the Dukascopy website, the trader can navigate to and click on ‘Open Demo Account’.
  2. The trader will be redirected to a new page that consists of an online application where the trader will have to fill in some basic information to activate the demo account. Traders need to note that the demo account expires after 14 days.
  3. The trader needs to enter their First and Last name, email address, cellphone number, preferred language and whether they would like a JForex or MT4 demo account.
  4. Once the trader has entered their information and made the necessary selections, the trader can click on ‘Get Demo Account’.
  5. The next page that loads will inform the trader that they need to check their emails to their account and in addition, a link will be provided on the page to the trading platform that the trader has selected to allow them to download the platform.

 

Trading can be a very intimidating task for beginners without prior knowledge, skill, or experience in trading and through the provision of demo accounts, brokers provide a comprehensive and risk free environment for beginner traders.

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.

Beginner traders can use demo accounts to familiarize themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and develop their own trading strategies.

Demo accounts are not merely intended only for beginners, but it provides more advanced traders the opportunity to explore what Dukascopy has to offer.

 

Dukascopy Demo Account Features

 

The Dukascopy demo account mimics a live account perfectly to allow traders to experience trading in a risk free environment. While using the demo account, traders have access to all the financial instruments provided along with live quotes.

The demo account that Dukascopy provides can be accessed and managed by downloading the trading platform that forms part of the Blueberry Markets offering, which in this case is either JForex or MetaTrader 4.

Through the trading platform, traders will not only have access to their Dukascopy demo account and through which they can practice trading or use the demo account to test trading strategies by making use of technical indicators, tools and more.

 

Pros and Cons

 

PROS CONS
1.      Demo account sign up fully digital 1.      Demo account only available for 14 days
2.      Quick and hassle-free sign up procedure
3.      Mimics live account accurately and efficiently
4.      Access to all functions and features as with a live account
5.      Adequate amount of virtual money provided

 

FAQ

 

What is the difference between a demo and live trading account?

A demo account provides the trader with a practice account that can be used to practice trading in a risk free environment.

Demo accounts are often suited for beginners who need to build up experience with trading as well as advanced traders who would like to test their trading strategies and explore the offering of a broker before registering a live account.

 

Does Dukascopy offer a demo account?

Yes.

 

Can I convert my demo account to a live trading account with Dukascopy?

Yes.

 

Which live trading accounts does Dukascopy offer?

  • Forex ECN Account – minimum $100 deposit, maximum leverage of 1:100, commissions depend on the trading platform, trading volume and which asset or financial instrument is being traded.
  • Forex MT4 Account – minimum $100 deposit, commissions of $1 and maximum leverage of 1:100.
  • Islamic Account – which is a Swap-Free Account. There are no overnight fees on this account, but commissions are charged at $5 per 1 million USD when trading Forex and $7.5 per million USD when trading precious metals and CFDS.

 

What are the available deposit currencies for a live trading account?

  • USD
  • CHF
  • EUR
  • GBP
  • HKD, and more.