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July 9, 2020

What is Demo Account?

What is Demo Forex trading account for? What is the main feature of this account type?

Introduction to Demo Trading

Introduction to Demo Trading

The Forex market is enormous and offers exclusive opportunities to investors.

However, investments sometimes require deep overthinking.

While there are over 200 tradable instruments from different asset classes, it is critical to identify the best-performing assets that suit your requirements.

Opening a demo account can be a beneficial option for you to experiment with, using different trading tools before setting up your strategies and trading portfolio.

Open your Demo account with IronFX, without any investment required, and practise with real trading charts.

Go to IronFX Official Website

Open a Risk-Free Demo Trading Account

Open a Risk-Free Demo Trading Account

There are over 200 tradable instruments available to diversify your trading portfolio.

You may definitely focus on the most popular ones, but in this case, you may miss other opportunities.

It is essential to find out whether there are more trading instruments, which may improve your strategy.

Even professional traders sometimes open demo accounts to experiment with different trading assets.

It doesn’t require any investment, and it gives you access to real trading charts so that you can see the outcome of your possible trading actions.

Experience real trading actions with our risk-free demo account.

Go to Hercules.Finance Main Page

Tip for Demo Forex Trading

Tip for Demo Forex Trading

It is evident that in the beginning, you need to allocate your time on improving your trading processes and creating strict trading rules to follow.

You’ll also need to explore different market environments and learn how to adjust your methods and strategies according to each specific market behaviour.

Below is a shortlist you may wish to follow when starting your demo trading journey:

  • Stick with one of the major currency pairs until you learn trading it
  • Understand the trading platform, explore the most efficient tools
  • Conduct your research, try to predict possible market moves
  • Act like you’re trading real money

You can start practising with no deposit right now. Open your Demo account with IronFX.

IronFX

4.3 rating based on 73 ratings
4.3/5 73

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4.3 rating based on 73 ratings
4.3/5 73

* CFD Service. Your capital is at risk.

The mega Forex broker with over 1 million traders registered! Invest in 6 Asset Classes in including 200+ tradable instruments. Don't forget to check out their various Bonus Promotions before start trading!

  1. Marcin Lewandowski,
    Sure, article is seemingly direct at those who only start their trading journey and that is obvious.
    And I support your words about its usefulness and a kind of urge to read it 😀
    Still some tips were quite unfamiliar to me and I had no idea about them before. So, fully endorse ya words, mate!

  2. I can confess that ironfx reviews led me here.
    Indeed, I also explored the company’s historical milestones, awards, but the feedback of real clients influenced my decision to join this broker most of all.

    I figured out a lot of details such as variety of accounts, flexible trading conditions based on the chosen account, many assets for trading, some platforms and nacillary tools. And now I trade in my favor, my approximate depo growth month comprises ~15%, but sometimes there are months with depo drawdown. But it’s all good, I understand the specificity of the sphere and move forward.

  3. To be honest, when I read the header of the aritcle, I was like why to write the whole article on the demo account. It is kinda obvious….well after reading the article I changed my opinion. I recalled the day when I just started to trade, 😀 This article would be heplful to me at that time.

    So, if you a novice trader, read carefully and take notes:) and check the broker, it has demo account!

  4. I like everything about this platform. The profound service they offer really makes me feel like they are very serious and professional about what they do and it is simply something really good to have. You know how I say that? They are all about market analysis and getting after the right information flow and proper education. And they provide great trading conditions to go after your money bags

  5. In my brief IronFX review, I would describe it as an all-inclusive broker.
    However, I know from myself when I see these kinds of reviews, I want to read what makes them think of that.
    I think of IronFx as a one-stop-shop platform for all of your trading needs. And not only did they think of everything, but they did everything meticulously.
    This is a platform literally for every level of experience. They included excellent educational resources in all the possible formats, which are helpful for beginners. They provide regular market insights and analyses, useful for those focused on trading. And finally, the trading terms… I can’t remember seeing any other broker with such a variety of trading accounts with different terms and conditions that can be fit for all the possible trading styles and strategies that I have heard of.

  6. Cohesively with the ironfx broker I managed to understand what real trading should look like.
    I mean… before that i was trading on the demo, but here, I decided to opt for the account with fixed spreads and kicked off with the real acc right away.
    notably, there were no troubles with deposits, a solid array of payment means is at my disposal and of course I chose digital currency. fast, secure and reliable, got my money on the acc within 10 minutes.
    Concerning the trading itself, then everything is as smooth as a butter. Orders are executed quickly, without slippages and that’s cool.

  7. As a beginner trader I was touched by the IronFX that provides the trading academy for free. There are so many different educational materials that expand knowledge about trading.
    They hold a lot of useful webinars and seminars for free. Recently I watched webinars where a forex instructor explained exactly how MACD indicators work and after that my mind was blown. I learned a lot of new things in trading and improved my results in trading. Guys from customer support are really kind and always ready to help me with any issues. I recommend it to everyone!

  8. When it comes to brokers that excel, then IronFX belongs to that category.
    A vast spectrum of trading insruments are there for trades. Whether you specialise in just forex market, find equity market more rewarding when trading or perhaps for you commodities present more skewed risk-to-reward trades, then you will you market with this broker.
    As for me, I prefer having various markets on radar.
    When it comes to account types, there are many. It depends on whether a Live Floating/Fixed spreads or STP/ECN accounts are chosen. Each type has inside different accounts where specifics vary.
    Do not overlook educational part, all sorts of learning materials like e-books, courses and videos can be accessed at academy.
    My fav books are on technical and fundamental analysis, I think employing both of this trading techniques will increase you chances of success.

  9. Decided to give it a try trading with this broker 5 months ago. During the period I was able to trade in the fx and equity markets offered by IronFX. The broker has other markets too. My feelings are positive. Perhaps, I caught some nice rebounds in the stock market that is why they are so 😀 The margin requirement there is good, just 5%. SInce I had longer term trades, swaps were important to pay attention for me, and here as well broker did well as they arent that high.
    Another notewortyhy thing is so called Academy. I checked some courses on charting analysis and economic indicators. Can not say I learned like a lot, but for sure it was good time spending.

  10. I remember now how I started trading. I had demo account with this broker.
    I remember how scared I was to switch to a real account. But after I was convinced that my strategy worked on demo account, I switched to a real account.
    I can’t say that I had a super profitable trading strategy at that time. It was quite simple using only two indicators RSI and regular moving average.
    I traded with 0.01 lot and it was something new for me then.
    Now I trade on this broker’s account using complex chart analysis systems. And my lot size is already much bigger.

    It is pleasant to remember about it.

  11. IronFX is that broker that excels in multiple dimensions. First, the brokerage firm offers a vast spectrum of markets to trade for your disposal. When I do not see patterns and chances in FX markert, I alter my focus to stock market and seek bargains there.
    Second, spreads are really low making scalping more attrative. For longer duration trades, offered swaps on stocks are fine too.
    Last but not least, it is the broker’s serious emphasis on the educational part. From the Academy you can learn lots of stuff whether it technical aspect, how-to questions, or economics related materials.
    Fantastic service! Try it yoursef guys, you willl be amazed too.

  12. I opened trading account and demo account with this company few months ago.
    I traded on demo account for a long time and today I decided that I finished my training and it’s time to move to real trading.
    I would like to write about my impressions of their trading platform and educational resources that company provides to clients.
    They have video and something that I can read while driving to work.
    And the most important thing is that I can apply all knowledge and ideas on demo account.
    Now I feel that I am ready to start getting profit from trading.

  13. I care about forex trading. I trade forex in my free time. I found this platform on forums, at first I was a little hesitant but then I found this platform is effective. It is a perfect choice especially for traders like me who are short on time.

  14. In general, the IronFx platform works well. For me, time is important, especially in forex, I needed a reliable platform so that I don’t lose time. I prefer weekly trades instead of daily trades, both are short-term, but I plan to expand the time frame gradually. IronFx is the right choice!

  15. Due to the Ironfx support during the whole trading period I started to understand why this broker is praised in the community and actually has an obvious recognition.
    Of course, this is a time-proven broker which has confirmed its competence in the brokerage services provision sphere.
    I chose it only because of reputation, because I didn’t know any peculiarities those times. But now I can say that I also favor trading conditions here, there’s abundance of instruments and almost complete absence of disadvantages 🙂

  16. demo account is where you begin and where you coming back. its like the dojo without a sensei, you come here to start and practice and finesse your skills. ironfx has a very feasible and usable demo account so be sure to check iit out, did me wonders.

  17. Well, this broker certainly deserves a lot of credits.
    Not only has the company already passed a long way to become one of the most recognizable and respected in the community, but also it continues improving services, delivering high-quality trading conditions and conquer new influence areas. That is always a joy to watch how your broker is evolving. I have no complaints after trading for more than year. I really noticed positive dynamic in my development and the company’s one.

  18. I am actually not much into this whole demo trading thing since i have been trading live accounts for years but when i started trading with ironfx i actually tried their demo account. and glad I did, because I understood quickly how great the platform was, saw all the assets and realized the trading conditions in a risk-free environment, it was good. a two-day period was enough to swtich to live

  19. I would like to give a recommendation to those who want to open trading account in this company and want to get the most favorable trading conditions.
    I chose STP/ECN account No Commision. It’s perfect combination of fastest and highest quality execution and favorable trading conditions.
    Look, I have no commissions, but at the same time spreads are narrow and sometimes they are as narrow as 1 pip.
    What is also important is that leverage for this account has a balanced size. It is not too risky and at the same time has a sufficient size for trading.

  20. Ironfx demo account is a great way to introduce beginner traders to the trading environment of the broker.
    I would even say that it’s one of the best ways to do it.
    But it has one major downside. Real emotions are not involved as well as real money.
    But if you want to test all the knowledge of the Ironfx academy then it’s a perfect solution.

  21. There is no way I will win the first prize of the tournament, but at least I will do it for my own benefit and for the challenge.
    Because trading on a daily basis can become quite boring and sometimes I need to set some challenges to go to another level.
    The only thing i knw for sure is that Ironfx is as reliable as any forex broker should be. I am not worry about my money.
    All I have to worry about is my trading strategy and its resilience.

  22. Ironfx is a true beginner -friendly broker. The large amounts of educational meterials and free demo is a must have for any newbie.

  23. It’s cool this broker offers trade copier function. Manual trading is tedious to me, so the soul requires something new. Some true changes, you dig? I can’t say that the mechanism is completely different, but at the same time, it’s a system where you can find out how to assess the performance of this or that leader, how to evaluate the strategy, it’s all about constant thoughts flow which develops your cognitive abilities.
    Versatility of the trading environment here is on top!

  24. I find everything given to me by the Ironfx broker extremely important and it’s truly not a big deal to apply all the instruments. I noticed in some IronFX reviews that people complain like there’s a surplus of tools that misguides them. Lol, what?
    For me, having a rather broad expertise in the trading industry, the more instruments – the better. That is why I don’t complain about widgets even though I don’t intend to partner with broker, so widgets don’t play a major role to me, but for those are interested it’s an awesome opportunity to increase ogranic traffic to their websites.
    The same goes about VIP Room. I personally don’t understand how the one can state that it’s unfavorable. It’s only for the sake of the community. So, by this reviews I express my gratitude!

  25. I like that here I have a wide choice of financial instruments and at the same time the broker provides favorable conditions for trading each of them.
    That’s great!

  26. Let me in my review not just praise the company, but list some of the benefits I have received using the company’s services.

    1) Let me start with the fact that when I had little experience I used demo account and actively studied company’s educational resources. They have their own trading academy. It’s awesome!

    2) Now I trade on the platform on a live account. And it should be noted that I have favorable trading conditions. I like that my account is commission-free and the rest of trading conditions are also favorable.

    3) Deposit and withdrawal speeds allow me to distribute my capital and money earned from trading quite quickly.

  27. I want to review Ironfx from the point of real trading.
    I don;t think that it will be suitable for everybody, however, I think that a lot of traders find the broker’s services handy for them.

    As for me, the most valuable thing is the market analytics and the education.
    At least I use those ones the most in my day to day trading life.
    They give me so many trading ideas, and also assets to trade on.

  28. Ironfx has a lot to offer for skills development as far as I’m concerned. Demo account is just one of the features for newbies. Another one is the comprehensive education that is obligatory for beginners.
    And lastly there is a very insightful analytics that anyone can utilize in their favor.

  29. Why for me as a beginner in forex trading this broker seemed like a great choice.

    1) I had almost no knowledge about trading. At the same time, I did not know where I could get really quality and proven knowledge. Internet is full of all sorts of articles, but I have absolutely no confidence in them.
    But this company has an academy. Even after first 5 minutes in it I realized that here I will get all necessary knowledge.

    2) I had no trading experience. Thanks to possibility to open demo account, I got opportunity to try to open and close different types of orders. I learned how to set and change take profit and stop loss.

    3) Here is a great choice of account types. After some time of studying trading conditions I realized which of accounts suits me best.

    Here is my IronFX review.

  30. One should know that IronFx is one of the most beginner-friendly brokers out there. 😉
    Why do I think so?
    Well, they have probably the best trading academy available for FREE! The resources available here are of great quality and they come in different forms – ebooks, videos, courses, webinars etc.
    Next, IronFx is an accessible broker. Everyone can afford to open a real account here.

  31. The broker is really nice honestly. I believe the trading conditions could be better, but that is a subjective view. I do not trade with commissions on my trades and that is why I find the spreads to be a bit wider than I would like.
    However, there are a lot of other reasons I find this broker world-class. The education offered, for instance, beats any other educational base that I have come accross. Be it free or even paid education. Furthermore, the webinars offer traders an opportunity to trade and analyze the markets in real-time with a certified trading expert like Peter Iosif.📈

  32. I presume that the essence of the demo account is awesomely disclosed in this article.

    I used to commencing with the demo trading regardless of the company I trade with, it’s just like a custom or tradition for me. It helps me to assimilate in a whole new environment, to “touch” instruments and charting. The same was with the Ironfx broker and to be sincere I liked it right away, after the very first day of demo trading.
    I noticed that the company was reputable and it offered a plethora of tools alongside the assets. I saw it as an opportunity to kick off and take off like a rocket.
    Since then I’m working with this broker and don’t have any intentions to change it.

  33. The platform is just right for different trading styles. If you decide to go long, then by all means, the broker says. If you are a scalp trader, the trading conditions of certain accounts are just ideal for you as well. The broker provides traders with access to different trading instruments to accomodate all trading demands.

  34. A demo account is a good tool when learning to trade… However, what makes IronFx the most beginner-friendly broker out there is the trading academy they offer for free. It is of the highest quality!

  35. Once had a chance to communicate with the support guys via online chat, actually, because I didn’t understand how to verify the account. Silly me, hahaha, but, anyway they have shared all details concerning this process and I have done everything quickly, without any hustle.
    Whenever you need to reach out to them, do it, don’t be afraid, they are friendly, affable and most importantly – responsible.

  36. This broker besides the possibility to trade on a demo account also has a system of educational materials.
    So if you have problems with analyzing the markets like me, I recommend you to study these materials in detail.

  37. I appreciate borkers that offer multiple-choice account options. Ironfx excels in this regard
    With a total number of 7 different account options. Isn’t this impressive?
    You can literally cherry-pick from the options offered, and choose the best one for your trading style and trading stratgy.
    Not only that, the rest of the trading conditions make IronFx a truly verstile broker.

  38. A demo account is the most useful thing. If you have some sort of mentor, you can train yourself and become a solid trader; just remember that the emotions from real trading are not comparable. So I can say that you definitely have to consider it as a part of your education if you want to start trading. And defiantly train your strategy on DEMO first.

  39. demo account is basically your practice ground until you are ready to go out there with the big guns.

    in other words, it is your dojo. where you need to sharpen your focus, your mind, your attention and your trading skills 🙂🙂

    Whether or your you are a good and skilled trader, if you are just starting with IronFx, I would advice getting a demo account first and trading with it a day or two before you jump into the real account. You get the feel of ironfx and its execution practices, so you will be absolutely ready and you will have learned all the assets available. It is advantageous.

  40. IronFX has truly raises the bar for my trading expectations in the trading world.
    With many many of trading instruments, a stable engine… like the tech they use for market executions, and customer support, they offer an impeccable trading experience (I learn the new word today). The is also plenty of trading account types that make it easy for traders of any style and of all levels to use. They also provide plenty of great education material to clients and people that want even on youtube. I have take many advice from their analyst people and it have been very good for me. The MT platforms and good spreads showcase their hardwork to traders’ success.
    Very good services and the ironFX reviews from other of the traders are very positive. Many people like the broker.

  41. Demo account is very different from regular trading… because you do not understand that you are using real money. Anyways, using demo ,account is very very good for shaping your strategies.

  42. The IronFx school is just magnificent. I came here with almost zero knowledge of trading but now I have built up my demo account so much that I am ready to open a live account. What type of account do you think is best to open?

  43. I think this Ironfx review is very valuable for newbies as there is a big percentage of beginner traders that totally underestimate the vitality of using the demo account.
    They think that they are eligible to trade on a live account of the broker right off the bat, without any type of practice trading.
    That’s why we have the bulk of newcomers lose the money in the first year of trading. And the vast minority actually manages to make profits in the long run.
    I’m in the camp that uses the demo account all the time. For me it’s not only a beginner’s tool, it’s also a great instrument to develop your trading skills in your further career.

  44. Everyone talks about the awards this broker has.
    And I’m sure that this talk is not just for nothing. Objectively the broker has recognition from the community of traders. Which makes this company an ideal place to open a trading account.
    Because these awards come with excellent trading conditions.

  45. Some nice tips are given by the IronFX broker. Unfortunately, there is only a small percentage of traders who usually utilize demo account for testing something.

    I wish all traders would test brokers on the demo before making a choice, as it helps them to stick to new environment and realize whether a broker is decent or not.

  46. “Many account types are good to make a weighted decision, and prices look great on paper.
    But how are the spreads on a real account in the real trading?”

    IronFX is a reputable broker in the forex industry known to offer competitive spreads on real accounts. The spreads, though, can vary depending on the market conditions, trading account type, and the specific financial instrument being traded.

    Additionally, they provide clients with access to various account types to choose from, with different spreads. You can easily see the difference between the account through their website’s “Account Spreads Comparison” tool.

    I’ve been trading on this platform using the “Live Floating Spread” account, and I can confirm that the spreads are as advertised. Never experienced some significant slippage or any issues with the execution of trades.

  47. This broker has been a very good choice for me. Becuase I like jumping around across assets and trading platforms. I like their web trader, but I also like other platforms as well. So it is basically a very good experience and action going on for me.

  48. “I noticed that this broker has a wide range of financial instruments that can be traded.
    Can someone tell me what assets are the most profitable right now?”
    Now I’m going to give you advice, but the markets will change and it will turn out that my advice is irrelevant.
    But nevertheless I can suggest you to pay attention to gold. This metal has shown a very attractive movement in the past time. So it looks like a good option.

  49. Ironfx demo account is a mandatory tool for beginners. Plus the broker offers it fro no extra fees at all.Tell me please do I have any restrictions on the Ironfx demo account?

  50. As a credible broker IronFX provides a free demo account as a part of the forex trading education.
    The cool thing is that you can get to know the broker’s trading conditions with no risk at all. Although you shouldn’t rely on the demo account too much and switch to the Ironfx live account as soon as you feel comfortable.

  51. IronFx demo account was the first one I used after taking a long break from trading. It basically got me back in the mood I needed to be in. After feeling the dynamic atmosphere for a few days, I went further and opened up a live account. Been trading ever since. It’s been a couple months and I am already in the green. The broker offers a great platform for live trading as well.

  52. There are even some tips on how to trade on the demo at IronFX. So, probably the author is the creator, he sees this way.
    I personally believe trading on demo doesn’t imply any difficulties and tips are useless in this case, but actually, one can find this helpful.

  53. It seems to me that the reputation of this broker as a reliable and safe company is justified. It is confirmed by various awards which this broker has.
    I am sure that all these awards are well deserved. The broker has excellent trading conditions.

  54. Many account types are good to make a weighted decision, and prices look great on paper.
    But how are the spreads on a real account in the real trading?

  55. It’s such a comprehensive overview of demo trading necessity from IronFX experts. I reckon, this topic is a burning one and discussions around it will never fade away.
    Still, as there were two camps, nothing has changed since the appearance of first brokerage companies online.
    Tbh, demo trading necessary is constitued by learning how to comply with risk and money management techniques.

  56. I think it is really cool that the broker IronFX decided to go with MT4 as a primary trading platform. A broker can only be as reliable as the trading platform offered and we all know that MT4 is top of the line.

  57. I noticed that this broker has a wide range of financial instruments that can be traded.
    Can someone tell me what assets are the most profitable right now?

  58. TradeCopier as a dedicated product for copy-trading was the main reason to stick with the broker because I was initially interested in copy-trading. Manual trading is not the thing that I can do well, while copy-trading gives me a passive income.

  59. A demo account is a great opportunity to learn the basics of trading, but it can be very dangerous for you if you stay with it for longer time than it’s actually required. Demo trading creates an illusion of easy money, while reality is more severe and scary because when a person trades on a real account he has to overcome his negative emotions and be calm and rational all the time. It’s a very hard path, but it’s real.

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