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Interactive Brokers Demo Account

Interactive Brokers Demo Account

 

 

Overall Rating

4.9/5

Rated #41 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

FCA, ASIC, NYSE, SEC, FINRA, IIROC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Yes, Interactive Brokers Demo Account 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. Interactive Brokers Demo Account practices forex trading in a 100% risk-free environment.

 

How to set up an Interactive Brokers Demo Account – Step by Step

 

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

 

  1. Navigate to the Interactive Brokers website and scroll to the bottom of the page to the ‘Account’ section and select ‘Free Trial’.
  2. The trader will be redirected to a new webpage consisting of the demo account details and an online application that must be completed.
  3. The trader will have to provide an email address, username, password, and country of residence. As soon as the trader has completed the required fields, they can select ‘Create Account.
  4. The application will be processed, and the trader will be redirected to a new page that will inform them that their demo account has been approved and the trader can click on the ‘Log in to Client Portal’ banner to proceed.
  5. The trader will be redirected to the sign-in page where they can use the username and password that they chose in the application to log into the Client Portal and start using their demo account.

 

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 with the opportunity to explore what Interactive Brokers has to offer.

 

Overall Rating

4.9/5

Rated #41 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

FCA, ASIC, NYSE, SEC, FINRA, IIROC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Interactive Brokers Demo Account Features

 

The Interactive Brokers demo account features will depend on the trading platform that the trader uses, whether the Client Portal, Desktop TWS, IBKR Mobile, IBot, and for professional traders IBKR WebTrader and APIs.

 

Pros and Cons

 

✔️ PROS ❌CONS
Demo account sign up fully digital None noted
Sign up is quick and hassle-free

 

You might also like: Interactive Brokers Minimum Deposit

You might also like: Interactive Brokers Sign up Bonus

You might also like: Interactive Brokers Fees and Spreads

You might also like: Interactive Brokers 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 Interactive Brokers offer a demo account?

Yes.

 

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

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 Interactive Brokers offer?

Interactive Brokers offers two major accounts, with various options with regards to it being for an individual, joint, a trust account, small business, administrator, educator, and introducing broker, to only name a few.

  • IBKR PRO – this account has been designed for high-volume professional traders, offering the lowest costs, and prices and commissions are either fixed or tiered depending on the financial instrument.
  • Standard Account – the minimum initial deposit of US Dollar 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?

Interactive Brokers supports currencies for deposits are multiple, up to 23. Client can for example make deposit in CZK, EUR and USD and trade instruments based on the currency in which they are denominated.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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