How to Open a MT4 Demo Account
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The demo account is considered extremely useful for new investors in the early stages of entering the financial market, helping them master basic skills and allowing users to experience trading without incurring any risk. To open a Metaquotes demo account on MT4, follow the short guide below:
1. Why should you trade with a Virtual account?
A demo account is the best option for traders before trading on a real account. With a demo account, users will be given a virtual amount of money to practice investing, learn to analyze the market using technical indicators, copy trades and buy signals right on the demo account by MetaTrader.
Features available on MT4 Virtual account:
- A virtual balance of up to $50,000 gives you the chance to test the trading platform and explore the market.
- The demo account is available on desktop or mobile devices.
- The demo account replicates exactly what you will encounter with a live account (interface, chart, products).
- You can use the free MT4 indicator, drawing tools in MT4.
- Test automated trading strategies (auto trading robots).
- Get familiar with technical analysis before you open a real account.
Thereby, you can learn to observe the market, test the effectiveness of your trading strategy, and experiment with a variety of strategies without risking your own fund.
In addition, the demo account is also used frequently by professional investors as a helpful tool to help them practice new trading methods.
2. How to open a Demo account on MT4 PC?
There are two ways for you to open a Demo account and practice trading on MT4:
- Create a Metaquotes Demo account right on MT4.
- Sign up for a Demo account of brokers that support trading on MT4.
This tutorial will show you how to open a Metaquotes Demo account right on MT4 on PC:
- Open MT4 platform, select File -> Open an Account -> Next.
- Click Open a demo account -> Next -> Fill in personal information as required. After completing, tick the box “I agree with the terms and conditions for opening an account and the data protection policy” -> Next -> Finish to complete.
3. How to open a Demo account on MT4 mobile
For more convenience, a demo account can be opened on a desktop platform and in the MetaTrader 4 mobile applications. To open a Metaquotes demo account directly from MetaTrader 4 app, please follow these steps below:
- Open the MT4 app, click Settings -> New Account -> Open a demo account -> Metaquotes demo.
- Fill in personal information (including name, phone number, email, account type, leverage, deposit amount), and click Register.
- Then a window will appear that contains information about the open account: “Login” – the account number, “Password” – the password for access, “Investor” – the investor’s password. Save these login information for future logins. Press Done to return to the MT4 trading screen and start practicing investing.
1. How to add funds to MT4 demo account?
Traders are unable to deposit virtual funds into their own Demo account. If you want to continue experiencing on the MT4 demo account, you can simply open a new one.
2. How to reset the MT4 demo account password?
To change your MetaTrader 4 password, follow these steps:
- Open the MT4 platform and log in.
- Click “Tools” -> “Options” -> “Server” on the top menu.
- A new window will open when you click the “Change” button.
- You’ll have to enter your current master password twice, as well as your new password.
3. What to do if you forget your MT4 virtual account?
If you forget your Demo account password, go back to the email they issued you when you first signed up for the demo.
If you can’t find that email, please sign up for a new demo account.
It can be said that adequate preparation with a demo account is an excellent way to start before entering the financial market. And the best way to learn and practice trading with the MT4 platform is to use a virtual account.
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