FxGrow Demo Account
How to set up a Demo Account – Step by Step
To register for, and set up a FxGrow demo account, traders will have to complete the entire process of account registration in order to access the demo account.
The full registration process consists of the following:
- Personal Details
- Employment Details
- Trading Experience
- Document uploads
- Password management
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 FxGrow has to offer.
FxGrow Demo Account Features
The FxGrow 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 FxGrow provides can be accessed and managed through the trading platforms that form part of FxGrow’s offering, which in this case is MetaTrader 4 and MetaTrader 5.
Traders will have to complete the full account registration in order to access the demo account and before they can start using it to trade in a risk free environment.
Pros and Cons
|1. Account sign up fully digital||1. Full registration necessary in order to access the demo account|
|2. Registration is tedious and may be subjected to waiting periods with regards to account verification|
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 FxGrow offer a demo account?
Can I convert my demo account to a live trading account with FxGrow?
You will have to complete a full registration in order to gain access to demo account features which means that FxGrow will already have all your information and relevant documents for the account to qualify as a live account.
Which live trading accounts does FxGrow offer?
- ECN Account – minimum deposit of $100, zero commissions charged on trades along with spreads from 1.20000 pips.
- ECN-Plus Account – minimum deposit of $1,000, $12 commissions charged per standard lot and spreads from 0.00010 pips.
- ECN-VIP Account – minimum deposit of $10,000, $8 commissions charged per standard lot and spreads from 0.00010 pips.
What are the available deposit currencies for a live trading account?
- GBP, and more.
July 8, 2020