EVFX Demo Account
How to set up a Demo Account – Step by Step
EVFX does not offer the option of opening a EVFX demo account on the broker website.
Through this, it is a clear indication that EVFX does not make provision for beginner traders nor for traders who would like to explore their offering in a risk free environment.
The only provisions made are for the application forms for each of EVFX’s live trading accounts namely personal, corporate and introducer.
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 EVFX has to offer.
EVFX Demo Account Features
EVFX does not make provision for a demo account for beginner traders or traders who would like to explore the broker’s offer or to make use of the demo account to test their trading strategies comprehensively and extensively in a risk free environment.
It is crucial for brokers to make provision of a demo account and to ensure that enough information is provided on the different products and services that the broker offers so as to attract new clients when traders evaluate and compare different brokers.
Pros and Cons
|1. EVFX is a highly regulated broker with authorization and regulation through FCA in the UK||1. Demo account not offered by EVFX|
|2. No additional information available regarding accounts|
|3. Account registration is not digital|
|4. EVFX is not suitable for beginner traders|
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 EVFX offer a demo account?
There is no indication on the EVFX website whether a demo account is available.
Can I convert my demo account to a live trading account with EVFX?
It would seem that EVFX only offers live accounts.
Which live trading accounts does EVFX offer?
EVFX makes provision for the following accounts:
- Personal Account
- Corporate Account
- Introducer’s Account
What are the available deposit currencies for a live trading account?
There is no indication as to which deposit currencies are supported when making deposits.