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EVFX Demo Account

EVFX Demo Account

 

Yes, EVFX 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.

 

EVFX at a glance

Broker's NameEVFX
📍 HeadquarteredLondon, UK
📅 Year Founded2011
⚖️ Regulating AuthoritiesFCA
🌐 Countries not accepted for tradeUnited States, Belgium
☪️ Islamic account (swap-free)No
👍 Demo AccountYes
📊 Institutional AccountsYes
📊 Managed AccountsYes
📈 Maximum Leverage1: 30
💰 Minimum Deposit$500
💳 Deposit OptionsDebit and Credit Cards, Skrill, Bank Wire
💳 Withdrawal OptionsDebit and Credit Cards, Skrill, Bank Wire
💻 Platform TypesMT4 (ECN), MT4, Currenex, CQG, FIX
📈 Tradable assets offeredMac, Windows, Web, Mobile Android, iPhone, iPad
📱 OS CompatibilityForex, Commodities, FX, CFDs, Indices - FX in about 90 pairs, Commodities in around 20 and 12 Stock Indices.
👨‍💼 Languages supported on WebsiteEnglish
👥 Customer Support LanguagesEnglish
📆 Customer Service Hours24/5

 

Overall Rating

4.9/5

Rated #21 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

📱 Trading Desk
No Trading Desk
Crypto
Yes
📈 Total Pairs

☪️ Islamic Account

Yes 

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

EVFX Demo Account – 4 key points quick overview:

 

How to set up an EVFX Demo Account – Step by Step

You can open a live account or demo account (also called a practice account) from start to finish on the EVFX website and choose to open a demo account first. Brokers usually require an e-mail and password to complete the initial step and if more than one currency can be used, traders must select their preferred account currency.

 

EVFX accounts can be opened in USD, CHF, EUR, GBP, HKD, JPY.

 

An account verification process is usually mandatory due to regulatory requirements, so keep a copy of your ID and a proof of residency document ready for the last step.

 

Note that this ‘Know Your Client (KYC) process, may only be necessary once you decide to move forward and work with real money.

 

Follow these steps to open an account:

➡️️​ Ensure that you have your email address and ID ready.

➡️️​ Select the country of residence and your currency, if applicable.

➡️️​ Choose that you want to try a demo account.

➡️️​ Provide basic personal information requested.

➡️️​ Proceed through the KYC process if needed and get approved.

 

demo account is also referred to as a practice account because it provides traders with the ability and freedom to explore a broker’s offering without running the risk of losing money, due to the provision of virtual money with which to ‘trade’.

 

Beginner traders can use a demo account to get acquainted with the live trading environment, where they can actively participate in trades and develop their own strategies.

 

Demo accounts are not intended for beginners only but provide more advanced traders an opportunity to explore what EVFX has to offer.

 

Overall Rating

4.9/5

Rated #21 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

📱 Trading Desk
No Trading Desk
Crypto
Yes
📈 Total Pairs

☪️ Islamic Account

Yes 

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

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.

 

EVFX Pros and Cons

✔️ Pros❌ Cons
EVFX is a highly regulated broker with authorization and regulation through FCA in the UKDemo account not offered by EVFX
No additional information available regarding accounts
Account registration is not digital
EVFX is not suitable for beginner traders

 

You might also like: EVFX Minimum Deposit

You might also like: EVFX Sign up Bonus

You might also like: EVFX Fees and Spreads

You might also like: EVFX Account types

 

FAQ’s

 

What is the difference between a demo and a 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?

Yes,  EVFX does offer a demo account

 

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

We are unsure as they website does not cover this subject.

 

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.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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