How to Open Gold Demo Account from MT4 Software
The demo trading account to learn gold trading with is the MT4 demo account. To open a new demo account for practice trading, a trader can do this direct from their gold platform. Below using the MetaTrader 4 platform, on the tops left corner: click File then click "Open an Account" button as cited below.
Open Free Gold Demo Account MT4 Software
Once you click on this link you will be taken to your online broker website where you can register for MetaTrader 4 practice account credentials of a demo account.
The next step is to fill the following MT4 demo gold account registration forms displayed below, the required info is:
- Your first name
- Last name
- Country
- City or town
- Phone number
- E-Mail address.
After entering these MT4 practice gold account opening details on the form below, click open demo gold account button.
Demo Sign Up - Online Practice Account - How to Open MT4 Practice Account
Once you fill MetaTrader 4 practice gold account opening form & complete this step, you will then get confirmation details of your online demo login and password credentials as shown below. A copy of these XAUUSD sign in credentials will also be sent to your e-mail address.
MetaTrader Demo Account Registration Confirmation
The gold login details of the free practice gold account that you've just signed up for are sent to you as an email which will pop-up in your in-box as shown on screenshot below.
Demo Account Sign Up Details Sent to E Mail Address - Demo Account - Open MetaTrader 4 Practice Account
Once you as a trader receive the demo account log in details, you can now then log in to the MetaTrader 4 platform & begin to access the financial gold market & practice trading on this practice account.
Link to also download the MetaTrader 4 software is also provided along with the login & password details upon registration of the MT4 demo gold account so that you can download MT4 Software, if you haven't downloaded it.
Procedure for installing the MetaTrader 4 software, is covered in our previous MT4 demo guide lesson before this one: How to install MetaTrader 4 software.
How to Sign in to Demo Account
To login to your MetaTrader 4 demo: Open MetaTrader 4 platform and at the tops left corner of MT4 click the "File" button then click Login as shown below:
Log in to Gold Practice Account on MetaTrader 4 Platform - MT4 Demo Guide
The following popup widow will pop-up prompting you to enter your demo account sign in credentials and password. Enter the gold sign in credentials as cited below & save the info by checking the "save account info" button key so that there is no need to retype this the next time that you want to login.
Log in to Gold Demo Account
Enter details as below and log in
Log in to Practice Gold Practice Account - MT4 Practice Account Tutorial
You'll then be logged in to MT4 demo gold account as cited below:
Example of How Demo Account Looks on MT4 - MetaTrader 4 Practice Account
Once you have opened free practice account you can then start to practice the following:
- How to place gold orders
- How to open charts & place technical indicators
- How to interpret Gold charts
- How to monitor profits and losses
- How to navigate MetaTrader 4 software interface
While practicing all the above, the money used is virtual funds, meaning a demo trader will practice using virtual money but everything else including price moves will reflect the true market movement.
Practice Demo versus Live Account
The gold practice practice gold account the only variation to the live account is the deposit, with a demo gold account one can't deposit or withdraw money but with the live account a trader can deposit & withdraw money and all the trades will be transacted using real money and profits can be withdrawn and losses will be deducted from the deposited amount.
Traders should use this practice account to test out their trading strategy and practice gold trading until such a time when they can trade the market profitably. Then when they learn how to make a profit on their practice gold account then they can open a live account and start trading the live market.
Once a beginner trader registers for the free practice account the next thing is to learn the software as well as learn trading systems and trading strategies that will be used to generate gold signals for gold trading. Trader will then test these gold strategies on the demo account that they will have opened to test if these trade strategies are profitable. Once the trade strategies are profitable on the demo account & a trader starts to make consistent profits on their Gold practice practice gold account then they can consider opening a real account.
