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 "Open an Trade Account" button as cited below.
Open Free Gold Demo Trading Account MT4 Software
Once you click on this link you will be taken to your online broker web site where you as a trader can register for MetaTrader 4 practice account credentials of a demo account.
The next step is to fill out following MetaTrader 4 demo gold account registration forms displayed and shown below, the required info is:
- Your first name
- Last name
- Country
- City or town
- Phone number
- E Mail address.
After entering these MetaTrader 4 practice gold account opening details & particulars on the form below, click open demo gold account button.
Demo Sign Up - Online Practice 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
The gold login details & particulars of the free practice gold account that you've just signed up for are sent to you as an e mail that will pop up in your in-box just as is shown on screen shot below.
Practice Account Sign Up Details Sent to Mail Address - Demo Trading Account - Open MT4 Demo Trade Account
Once you as a trader receive the demo account sign in details & particulars, you as a trader can now then log in to the MetaTrader 4 software and begin to access the financial gold market & practice trading on this practice trade account.
Link to also download the MT4 software is also provided along with the login and password authorization logon details upon sign up of the MetaTrader 4 demo gold account so that you can download MT4 Platform Software, if you as a trader haven't downloaded it.
Procedure for installing the MetaTrader 4 software, is covered and discussed on our previous MT4 demo lesson course before this one: How to install MT4 software.
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 below:
Log in to Gold Practice Account on MT4 Software Platform - MT4 Demo 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
Enter details & particulars as below & log in
Log in to Practice Gold Practice Account - MT4 Practice Account Lesson
You will then be logged into MT4 demo practice gold account as cited below:
Example of How Demo Trading Account Looks in the MetaTrader 4 Software - MT4 Demo Trade Account
Once you've opened free practice trading account you as a trader can then start 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
While practicing all the above, the money used is virtual funds, meaning a practice 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/withdraw money but with the live account a gold trader can deposit & withdraw money & all the trades will be transacted using real money & profits can be withdrawn and losses will be subtracted from the amount 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 trader signs up for the free practice account the next thing is to learn the software as well as learn trading systems and strategies that will be used to generate gold signals for gold trading. Trader then will test these gold strategies on the demo account that they'll have opened to test if these trade strategies are profitable. Once the trade strategies are profitable on the demo account & a trader begins to make consistent profits on their Gold practice practice gold account then they can consider opening a live account.
Learn More Courses and Topics:
- 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?
- How to Find and Get Quotes in MT4 Trade Platform
- Relative Strength Index Buy & Sell Trade Signals
