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