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 receive a virtual amount of money to practice investing, learn how to analyze the market using technical indicators, copy trades and buy signals directly to the demo account from MetaTrader.
Features available on the 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).
- Become familiar with technical analysis before opening a real account.
In doing so, you can learn to observe the market, test the effectiveness of your trading strategy, and experiment with a variety of strategies without risking your fund.
In addition, the demo account is also frequently used by professional investors as a useful tool to help them practice new trading methods.
2. How to open a Demo account on MT4 PC?
There are two ways to open a Demo account and practice trading on MT4:
- Create a Metaquotes Demo account directly 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 directly on MT4 on PC:
- Open the MT4 platform, select File -> Open an account -> Next.
- Click Open a demo account -> Next -> Enter your personal information as prompted. After completing, check the box “I accept the terms and conditions for opening an account and data protection policy” -> Next -> Finish to complete.
3. How to open a demo account on MT4 mobile
For added convenience, a demo account can be opened on a desktop platform and in MetaTrader 4 mobile applications. To open a Metaquotes demo account directly from the MetaTrader 4 app, follow these steps:
- Open the MT4 app, click Settings -> New Account -> Open a demo account -> Metaquotes demo.
- Enter your personal information (including name, phone number, email, account type, leverage, deposit amount) and click Register.
- Then a window will appear containing information about the opened account: “Login” – the account number, “Password” – the password for access, “Investor” – the investor’s password. Save this login information for future logins. Press Finish to return to the MT4 trading screen and start practicing investing.
Frequently asked questions
1. How to add funds to MT4 demo account?
Traders are not able to deposit virtual funds into their Demo account. If you want to continue experimenting on the MT4 demo account, you can simply open a new one.
2. How to reset 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 need 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 to you when you first signed up for the demo.
If you can’t find that email, sign up for a new demo account.
It can be said that proper preparation with a demo account is a great way to get started before entering the financial market. And the best way to learn and practice trading with the MT4 platform is to use a virtual account.