IronFX, like other FX brokers, has a demo account. Unlike real accounts, demo accounts do not use real money, so there is no risk. There is no risk at all, so if you are interested in trading, please use it.
What is a demo account?
As the name suggests, demo accounts provided by FX brokers are fictitious accounts, so your money will not increase even if you win, and your money will not decrease even if you lose. This is a trading account for practice purposes only. Therefore, it is a recommended account type for beginner traders. A demo account has the following characteristics:
virtual currency
The money used in the demo account is fictitious money. Therefore, no matter how much you win, you cannot convert it into cash. On the other hand, no matter how much you lose, there is no risk of losing your money. Therefore, since the money you use is fictitious money, you can practice as much as you want.
Beginners
A demo account is only an account type for beginners in trading. Therefore, there is no benefit for experienced traders to use a demo account. A demo account is just a practice trading account, so it can also be considered an account for beginners.
Not for real practice
Unfortunately, the demo account is not a real trading format because the market price does not move significantly depending on economic and political indicators like a real account. Therefore, we recommend that you try it on a real account once you have some experience with it. There is nothing to be gained from practicing too much.
Features of demo account
The demo account at IronFX has the following features:
Valid for 3 months
In the case of a demo account at IronFX, the expiration date is 3 months, but there is no problem if you leave it alone. This is because you can create as many new accounts as you like.
Trading tool is MT4
The trading tool for the demo account is MT4. This is the same environment for real accounts, so don’t worry, there are no particular disadvantages.
maximum leverage
Maximum leverage is limited to 1000x for demo accounts. This environment will be exactly the same as a live account, so you can trade in the same environment as a standard account.
Additional deposit not possible
IronFX has special specifications. Once the funds in the demo account are lost, they cannot be replenished. If your account balance is depleted, create a new account. By the way, you can create as many accounts as you want.
Leverage change
IronFX also does not allow you to change the leverage. Therefore, you must trade at the default setting of 1000x.
Demo account opening procedure
To open a demo account, please apply using the link below. You can change the language from the top right of the screen.
Source : https://www.ironfx.com/
The procedure for applying for a real account is almost the same. Therefore, please refer to the following articles when creating your own.
Source : https://www.ironfx.com/
Download trading tools
Once the demo account has been opened, you will receive an email from the management. This completes the account opening, but if you click on the link “here” in the email address, you can directly complete the MT4 download. Once the download is complete, you can start trading by launching MT4 and logging in. To download MT4, choose from the smartphone app, web trader, or PC version.
- App
- PC
- WebTrader
FAQ
Here are some frequently asked questions about opening a demo account. If you have any problems, please contact the support center.
Unable to log in to MT4
There are two main reasons if you are unable to log in. One is when the ID and password are incorrect, and the other is when the account is disabled. If you have forgotten your password, please reissue it from My Account. By the way, if an account is not used for 3 months, it will become invalid and you will not be able to log in. In that case, you will need to recreate your account.
Account restoration
If an account is not used for 3 months, it will be disabled and you will not be able to log in, but if you wish to restore it, please contact the support center.
I can’t log in to my account
If you have forgotten your demo account email and password, please contact our support center.
Lose real money?
The money used in the demo account is fictitious money. Therefore, no matter how much you lose in trading, your cash will never decrease. There is no risk in trading as much as you like.
If you can win in demo trading, can you also win in real trading?
Unfortunately, no matter how much you win in demo trading, it won’t stay that way in real trading. Because their mental states are completely different. In demo trading, your money will not decrease no matter how much you lose, but in real trading, your actual money will be lost. It is said that it generally takes about 3 years to be able to win in real trading.
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