ThinkMarkets Demo Account

 

A ThinkMarkets demo account Review

 

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

 

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

 

  1. Navigate to the ThinkMarkets website and click on the ‘Open demo account’ banner on the homepage.
  2. The trader will be redirected to an online application where the trader can select their preferred trading platform followed by providing their First and Last name, email address, country of residence and mobile phone number.
  3. In addition, the trader can create a password and select whether they would like a Standard or ThinkZero demo account before clicking on ‘Start now’. Should the trader neglect to create a password, one will be automatically generated.
  4. A new page will load, and the trader will receive confirmation that their demo account is open. This screen provides the trader with their account details along with a download link embedded on the page to the trading platform they selected.
  5. An email containing the trader’s demo account details will additionally be sent to the address that the trader provided.
  6. As soon as the trader has downloaded and installed the trading platform, they can use the account details they received to log into their ThinkMarkets 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 ThinkMarkets has to offer.

 

ThinkMarkets Demo Account Features

 

The ThinkMarkets demo account features will depend on the trading platform that the trader uses, in this case MetaTrader 4, MetaTrader 5 or ThinkTrader, in conjunction with the demo account.

In other words, the demo account features can be accessed through the trading platform and will depend on ThinkMarkets’ 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, MetaTrader 5 and ThinkTrader 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 ThinkMarkets offer a demo account?

Yes

 

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

Yes.

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

 

Which live trading accounts does ThinkMarkets?

  • Standard Account – $250 minimum deposit, leverage up to 1:500, zero commissions charged on trades and spreads from 0.4 pips when trading Forex.
  • ThinkZero Account – minimum operating balance of $500, leverage up to 1:50, $3.5 commissions charged per side and spreads form 0.1 pips on an average when trading Forex.

 

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

  • AUD
  • EUR
  • CHF
  • GBP
  • USD