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Freetrade Demo Account

Freetrade Demo Accounts

 

Overall Rating

4.7/5

Rated #245 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

No, Freetrade does not offer a free demo trading account for beginner traders to train on. The demo account interface is ideal for traders who wants to learn to trade without incurring any trading risks or losses, but unfortunately Freetrade does not offer this practice environment.

Finding a reputable list about Freetrade 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

 

Freetrade does not offer a demo account to its traders.

Usually, traders can follow a few easy steps to open a demo account where it is provided.

You can usually open live or demo (also called practice) trading accounts on the website of the broker and choose what currency to use. Brokers usually require an e-mail and password to complete this initial step. Traders are also able to select their account currency if there are several currencies available.

The first step of the account opening process usually requires your e-mail address and password.

An account verification process is sometimes mandatory as stipulated by regulatory requirements. A copy of a trader’s ID and one proof of residency document usually is enough for this final step. The ‘Know Your Client (KYC) process, may only come into play when you decide to move forward as a trader and work with real money.

The following steps are usually needed for account opening:

1. Get ready with your email address

2. Select the country of residence and your currency

3. Choose that you want to go for a demo account

4. Provide basic information about yourself

5. Go through the KYC process if requested and get approved.

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 Ffreetrade has to offer.

 

Overall Rating

4.7/5

Rated #245 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Demo Account Features

Freetrade does not provide a demo account, but such an account usually 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.

 

Pros and Cons

✔️ PROS ❌ CONS
No minimum deposit required for ordinary accounts No Demo account offered
Sign-up completed in minutes

 

You might also like: Freetrade Minimum Deposit

You might also like: Freetrade Sign up Bonus

You might also like: Freetrade Fees and Spreads

You might also like: Freetrade Account types

 

FAQ

 

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 Freetrade offer a demo account?

No.

 

For how long is the demo account valid?

Not applicable.

 

Which live trading accounts does Freetrade offer?

  • General Investment Account (GIA) – standard account for stock and ETF trading
  • Investment Savings Account (ISA) – a tax-efficient savings account
  • SIPP Account – flexible investments in pension savings.

 

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

  • Only GBP.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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