How to Open Gold Demo Practice Trading Account from MT4 Software
The demo trading account to learn gold trading with is the MT4 demo trade account. To open a new demo trading account for practice trading, a trader can do this direct from their xauusd platform. Below using the MetaTrader 4 platform, on the top left corner: click File then click "Open an Trading 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 web site 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 information 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 Demo Trading Account
Once you fill MetaTrader 4 practice gold account registering form and 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 login details 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.
Practice Account Sign Up Details Sent to E Mail Address - Demo Account - Open MetaTrader 4 Demo Trading Account
Once you as a trader receive the demo account sign 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 trade account.
Link to also download the MetaTrader 4 platform 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 have not downloaded it.
Procedure for installing the MetaTrader 4 platform, is covered in our previous MT4 demo lesson tutorial before this one: How to install MetaTrader 4 platform.
How to Log in to Practice Demo Trading Account
To login to your MetaTrader 4 demo: Open MetaTrader 4 platform and at the top left corner of MT4 press the "File" button then click Sign in as shown below:
Log in to Gold Practice Account on MetaTrader 4 Platform - MT4 Demo Guide
The following popup window will pop-up prompting you to enter your demo account login details and password. Enter the gold sign in details as cited below & save the info by checking the "save trading account info" button so that there is no need to retype this the next time that you as the trader want to login.
Log in to XAUUSD Practice Demo Trading Account
Enter details as below & log in
Log in to Practice Gold Practice Account - MT4 Practice Account Tutorial
You'll then be logged into MT4 demo gold account as cited below:
Example of How Demo Account Looks on MT4 - MetaTrader 4 Demo Trading Account
Once you have opened free practice trading 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 platform 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 the price moves will reflect the real 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 gold 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 trading account to test-out their 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 real account and start trading the live market.
Once a beginner trader registers for the free practice trading account the next thing is to learn the software as well as learn trading systems and strategies that will be used to generate xauusd 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.
Learn More Courses and Topics:
- How to Use MetaTrader 4 XAUUSD Platform Software Userguide
- How Can I Sign Up XAU/USD Account with a MT5 XAU/USD Broker?
- Opening a Deleted Gold Chart in MT4 Software
- What are Types of Orders in Gold?
- How to Find Symbols in MT4 Trade Platform
- Relative Strength Index Technical Indicator Buy & Sell Trade Signals
