JFD Bank Demo Account
How to set up a JFD Bank Demo Account – Step by Step
To register for, and set up a demo account with JFD Brokers, traders can follow these steps:
- Traders can navigate to the JFD Bank website and click on the ‘Try Free Demo’ banner in the top right corner.
- The trader will be redirected to a new page with two selection options for the type of account (demo trading account is already selected) and a choice between trading platforms namely MetaTrader 4 and Metatrader 5.
- Once the trader has made their selection, an application form will open below the trading platform selection where traders must fill in the required fields.
- Traders must provide their First and Last name, telephone number, email address, country of residence, account currency and virtual deposit amount.
- A new page will load, notifying the trader that their demo account has been registered and that the trader will receive an activation link via email on the address that they provided to verify their email address.
- When the trader has verified their account, they will receive an email of confirmation along with the download link to the trading platform they chose. The email will also contain the login details to access 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 the opportunity to explore what JFD Bank has to offer.
JFD Bank Demo Account Features
The JFD Bank demo account features will depend on the trading platform that the trader uses, whether MetaTrader 4 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 JFD Bank’s 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 JFD Bank demo account.
Pros and Cons
|1. Demo account sign up fully digital||1. None noted|
|2. Sign up is quick and hassle-free|
|3. Metatrader 4, Metatrader 5 are reliable, user-friendly trading platforms|
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 JFD Bank offer a demo account?
Can I convert my demo account to a live trading account with JFD Bank?
Which live trading accounts does JFD Bank offer?
JFD Bank only offers one type of account and depending on the trader’s country of residence, the account will be either with JFD Group Ltd., or JFD Overseas Ltd. These account specifications are as follows:
- JFD Group Ltd. – minimum deposit of $500 or currency equivalent, margin call level at 100%, stop out level at 100%, negative balance protection, leverage according to ESMA’s measures.
- JFD Overseas, Ltd. – minimum deposit of $500 or currency equivalent, margin call level at 125%, stop out level at 50%, negative balance protection not offered, leverage of up to 1:400.
What are the available deposit currencies for a live trading account?
- EUR, and