TeraFX Demo Account

 

A TeraFX demo account Review

 

How to set up a TeraFX Demo Account – Step by Step

 

To register for a TeraFX demo account traders can follow these steps:

 

  1. Navigate to the TeraFX website and click on the ‘Open Demo Account’ banner on the homepage.
  2. The trader will be redirected to an online application that has to completed with the trader’s First and Last name, email address and mobile phone number.
  3. After providing this, the trader has to accept the Terms of Business and Privacy policy in addition to selecting whether the trader would like to receive news and promotions, and lastly the trader has to confirm that they are over 18 years of age.
  4. After completing the necessary fields and making the relevant selections, the trader can click on ‘Open Demo Account’.
  5. A new page will load with the download links to MetaTrader 4 for desktop and mobile devices. An email will be sent to the address the trader provided, containing their demo account login details.
  6. After MetaTrader 4 has been downloaded and installed, the trader can use these credentials to log into their demo account from the trading platform.

 

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 TeraFX has to offer.

 

TeraFX Demo Account Features

 

The TeraFX demo account features will depend on the trading platform that the trader uses, in this case MetaTrader 4, in conjunction with the demo account.

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

 

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 is a reliable, user-friendly trading platform  

 

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 TeraFX offer a demo account?

Yes

 

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

Yes.

By applying for a live trading account in completing the online application on the TeraFX website.

 

Which live trading accounts does TeraFX?

  • Starter Account – min. deposit of $100, average cost/mark-up on trades starting from $18, depending on the financial instrument and variable spreads.
  • Premium Account – deposit of $100, average cost/mark-up on trades starting from $1, depending on the financial instrument and variable spreads.
  • ECN Account – min. deposit of $100, commissions start from $2 and depends on the financial instrument being traded, spreads are raw and variable.
  • Pro Account – min. deposit of $100, minimum trade size of 0.01 micro and standard lots and a maximum of 100 standard lots. Commissions are available on demand.
  • Corporate Account – traders will have to contact TeraFX customer service for more information on this account.

 

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

  • USD
  • GBP
  • EUR, and
  • PLN