The MetaTrader 4 is the most renowned forex trading platform in the world, currently offered by the majority of forex brokers. You can read more about the MetaTrader 4 here, and more about the MetaTrader 4 brokers here.
In addition to being one of the best forex trading platforms in the world, MetaTrader also comes with one of the best demo accounts. Keep reading to learn more about the MetaTrader 4 demo account and the brokers that offer it.
What is a Demo Account?
A demo account is just like a live trading account with one major difference. Instead of trading using your own real money, a broker provides you with virtual money. This means that you can trade using the MetaTrader 4 completely risk-free, however, since the money is virtual you can’t actually withdraw any of your earnings.
Now, why would you want to trade without risk if you can’t make a profit?
There are two reasons for this. Most people use a MetaTrader 4 demo account to test the MetaTrader 4 platform out and see if it suits them and if they like the platform. It also gives beginners the option of practicing trading before they sign up for a real account.
The second reason people open a MetaTrader 4 demo account is to develop strategies and test new trading techniques. Back in the days, developing investment strategies was a costly affair since you had to risk your own money. However, with a demo account, you can test new strategies under real market conditions and not run the risk of losing anything at all.
As you can see, a MetaTrader 4 demo account is a win-win situation for both beginners and more experienced traders.
Brokers Offering the MetaTrader 4 Demo Account
Before we continue discussing the MetaTrader 4 demo account we want to take the opportunity to list all of the regulated brokers that offer a MetaTrader 4 demo account.
All of the following brokers are completely safe to use with the required licenses and permits. They have also gone through our rigorous evaluation process.
By clicking the links you will get redirected to the review we’ve written about the broker, there you can find out more about the broker’s services, products, and, of course, the MetaTrader 4 demo account.
MetaTrader 4 Demo Account Brokers:
- IG Markets Demo Account
- 24Option Demo Account
- LCG Demo Account
- AvaTrader Demo Account
- Trader.com Demo Account
- ETX Capital Demo Account
- FxPro Demo Account
- BDSwiss Demo Account
- Forex.com Demo Account
- Libertex Demo Account
- InstaForex Demo Account
- FXTM Demo Account
- XM Demo Account
- IronFX Demo Account
- FXCC Demo Account
- HYMC Demo Account
- HotForex Demo Account
- FXCM Demo Account
- Oanda Demo Account (US + International)
- FXGiants Demo Account
- Exness Demo Account
- IFC Markets Demo Account
Risks with using a MT4 Demo Account
At first glance, it might seem completely safe and sound to use a MetaTrader 4 demo account, and in most cases it is. That being said, humans tend to take more risk when trading for “fake money” and demo trading is not the same as real trading. Therefore, you need to be careful when switching from a demo account to your regular trading account so you don’t subject yourself to unnecessary risks. This is especially true for beginners and people that have never traded forex before.