How to Open Gold Demo Practice Trade Account from MetaTrader 4 Software Platform
The demo practice trading account to learn gold trading with is the MT4 demo practice trade account. To open a new demo trading account for practice trade, a trader can do this direct from their gold platform. Below using the MetaTrader 4 software, on the top left corner: click File then click on "Open an Trade Account" button as cited below.
Open Free Gold Demo Trading Account MT4 Software
Click the link, and you'll go straight to your broker's website to register for MetaTrader 4 demo account credentials.
The next step is to fill out following MetaTrader 4 demo gold account registration forms displayed below, the required data is:
- Your first name
- Last name
- Country
- City or town
- Phone number
- E Mail address.
After putting in these details for opening a practice gold account in MetaTrader 4 on the form below, click the button to open the demo gold account.
Demo Sign Up - Online Practice Demo Account - How to Open MT4 Demo Trade Account
Once you fill MT4 demo gold account registering form and complete this step, you will then get confirmation authorization logon details of your online demo login and password credentials such as shown below. A copy of these Gold login details & particulars will also be sent to your E Mail address.
MetaTrader Demo Trading Account Registration Confirmation
Details for the free gold practice account you've registered for will be emailed to your inbox. A screenshot is provided below to show how this information will appear.
Demo account info emailed. Start MT4 demo trading account.
Once you, the trader, receive the login credentials and specifics for the demo account, you are then able to sign into the MetaTrader 4 software and commence accessing the global gold market, engaging in practice trading within this simulated account environment.
When you sign up for the MetaTrader 4 demo gold account, you will also get the login and password authentication logon details as well as a link to download the MT4 software if you as a trader haven't already done so. You may use this link to download the MT4 Platform Software.
We've already covered how to install MetaTrader 4 in our previous MT4 demo lesson, so check that out for a step-by-step guide.
How to Log in to Practice Demo Trade Account
To login to your MetaTrader 4 demo: Open MT4 software & at the top left corner of MT4 press the "File" button then click Sign in like shown:
Guide to Logging into a Gold Simulation Account on the MT4 Software - MT4 Demo Trading Lesson
The following pop up window will pop up prompting you to enter your demo account login details & particulars and password. Enter the gold sign in details & particulars as cited below & save the info by checking the "save account info" button so that there is no need for you to retype this the next time that you as the gold trader want to login.
Log in to XAUUSD Practice Demo Trade Account
Populate the required information and particulars as listed below, then access your account
Gaining Access to the Practice Gold Trading Account - A Lesson on Using the MT4 Practice Account
You will then be logged into MT4 demo practice gold account as cited:
Illustration of a MetaTrader 4 Demo Trading Account Appearance - MT4 Demo Trade Account Example
Once you've opened free practice trading account you can then begin to practice the following:
- How to place gold orders
- How to open charts & place technical indicators
- How to interpret and analyze & analyze Gold charts
- How to monitor profits and losses
- How to navigate MetaTrader 4 software interface
Throughout the application of all the aforementioned methods, the capital utilized is entirely fictional, meaning that a practice demo trader operates with virtual funds, yet all other market dynamics, including price fluctuations, accurately mirror real-world market behavior.
Practice Demo versus Live Account
The only thing that's different between a practice gold account and a real one is the deposit: with a demo gold account, you can't put in or take out money, but with the real account, a gold trader can put in and take out money, and all trades use real money, so profits can be withdrawn, and losses are taken from what you deposited.
Traders should use this practice trading account to test-out their strategy and practice gold trading until such a time when they can trade the markets profitably. Then when they learn how to make a profit on their practice gold account then they can open a live account & start trading the live market.
Once a beginner opens a free practice account, the next essential step is learning the trading software alongside mastering the trading systems and strategies designed to produce gold signals for trading precious metals. The trader will then apply these gold trading strategies to the opened demo account to gauge their earning potential. After confirming the strategies' profitability on the demo account and achieving consistent profits on their practice gold account, the trader can proceed to open a live trading account.
Discover More Programs and Subject Areas:
- How to Use MetaTrader 4 XAU/USD Platform Software Userguide
- How Do I Sign Up XAU/USD Account with a MetaTrader 5 XAU USD Broker?
- Opening a Deleted Gold Chart in MT4 Platform Software
- What are Types of Orders in Gold Trading?
- How to Find and Get Quotes in MT4 Trade Platform
- Relative Strength Index Buy & Sell Trade Signals
