IC Markets Demo Account

 

A IC Markets demo account Review

 

How to set up a IC Markets Demo Account – Step by Step

 

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

 

  1. Navigate to the IC Markets website and click on the ‘Try a Free Demo’ at the very top of the homepage.
  2. The trader will be redirected to an online application form that requires the trader’s First and Last name, email address and cellphone number.
  3. Once the trader has completed this information, click ‘Register”.
  4. The form will be submitting, and the trader will be redirected to the next form where a set of selections have to be made pertaining to the trading platform, account type, account currency, leverage, and initial deposit (virtual money).
  5. After having made the selections, the trader can click on ‘proceed’ and they will be notified that their application has been successful. The trader will have to check their email to find their demo trading account details.
  6. After obtaining the account details, the trader can log in and proceed to the downloads area under the ‘Trading Tools’ tab in their client portal to download their trading platform of choice.

 

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 IC Markets has to offer.

 

IC Markets Demo Account Features

 

The IC Markets demo account features will depend on the trading platform that the trader uses, whether MetaTrader 4, cTrader or MetaTrader 5, in conjunction with the demo account.

In other words, the demo account features can be accessed through the trading platform and will depend on IC Markets’ offering with regards to asset classes, financial instruments, spreads, leverage, and so on.

 

To gain access to the demo account, the trader has to download the trading platform to either of the following:

  • Desktop – MS Windows, Linux, or Mac OS
  • Mobile – Android smartphone or tablet, iOS iPhone, or iPad

 

Should the trader wish to use the Web Trader for either trading platform, access will be provided from the download page for each trading platform, respectively.

As soon as the trader has downloaded their trading platform, they can use the login details provided on the account verification page to log into the trading platform and they will have access to their IC Markets demo account.

 

Pros and Cons

 

PROS CONS
1.      Demo account sign up fully digital 1.      None noted
2.      Sign up is quick and hassle-free
3.      Metatrader 4, Metatrader 5 and cTrader are reliable, user-friendly trading platforms

 

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 IC Markets offer a demo account?

Yes.

 

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

Yes.

All that you have to do is complete additional information along with providing proof of ID and proof of residence. This can easily be done from the Client Portal/Secure Area.

 

Which live trading accounts does IC Markets offer?

  • Raw Spread Account – minimum initial deposit of $200, spreads from 0.0 pips, leverage up to 1:500, commissions of $3.5 per lot per side.
  • cTrader Raw Spread Account – minimum initial deposit of $200, spreads from 0.0 pips, leverage up to 1:500, commissions of $3 per USD 100k traded.
  • Standard Account – minimum initial deposit of $200, spreads from 1.0 pips, leverage up to 1:500, zero commissions charged on trades.

 

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

  • AUD
  • USD
  • EUR
  • CAD
  • GBP
  • SGD
  • NZD
  • JPY
  • HKD
  • CHF