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A demo account is the entry point for many traders to trade binary options, CFDs, or foreign exchange. Therefore, almost all brokers have now decided to offer such a test account.
Broker FxPro does not make an exception in this respect, but it even provides its customers with a real and unlimited trial account, as the demo account is also often called. In our guide, we would like to explain the advantages of a demo account in general, but also inform you about the test account offered by Broker FxPro, as well as the trading platforms that the trader can use.
Advantages of a demo account
Have you never had the opportunity to trade binary options, CFDs, or foreign exchange before? Or has this speculative investment simply not interested you yet? In either case, you may currently be taking advantage of the opportunities offered by trading. In this case, you will probably be faced with the question of whether or not to use a demo account with your chosen Forex broker.
Based on our experience, we can recommend a demo account to you without restriction, provided that it is available free of charge. To our knowledge, however, this is now the case with all brokers, especially since you do not commit yourself to any further actions when opening a demo account. From this point of view, there is absolutely nothing to be said against opening a demo account.
In most cases, however, this will not be enough, because of course, the low effort of opening an account should at least offer one advantage for the trader. This is generally the case with demo accounts. With a test account, for example, customers benefit from the fact that the broker’s trading interface can be viewed intensively. However, this is not the end of the story, as active trading is of course also possible via this virtual trading platform in the form of the demo account.
The customer can therefore try out, for example, how certain actions would affect real trading without having to take even the slightest risk. If, on the other hand, you were to do without the demo account, you would have to implement all strategies or procedures in live operation in the early stages.
This in turn would often result in losses that could have been avoided by using a demo account. Each demo account, therefore, offers two main advantages: firstly, it allows you to get to know the trading interface. On the other hand, the trader also has the unique opportunity to try out trading without any risk and to test or refine strategies, for example.
Unlimited use of the FxPro demo account
The Forex and CFD broker FxPro provides a demo account. This test account corresponds to the trading platform on a very large scale so that customers do not have to get used to the real trading environment later on when switching to it. Both the look and functions of the demo account are similar to those of the real trading platform. It is also very advantageous that it is a real test account. This means that the trader does not need to make a deposit to the trading account in order to try the demo account.
This fact is by no means self-evident, as some brokers require their clients to make the generally required minimum deposit to their trading account before using the demo account. Furthermore, the demo account of the broker FxPro convinces by the fact that it can be tested without time restrictions. For the broker, it is therefore irrelevant whether the customer would like to use the test account once opened for two weeks, three months, or several years. Due to its features, the FxPro Broker demo account is one of the best test accounts that Forex and CFD brokers provide today.
Live trading at FxPro
In principle, the numerous Forex and CFD brokers can be divided into two groups with regard to the trading platform offered. The first group is made up of providers who only offer a trading platform. However, the number of brokers that fall into the second group clearly outweighs this. This group includes Forex and CFD brokers who offer several trading platforms.
The broker FxPro, which offers its customers a total of four trading platforms, also belongs to this group, namely
- FXPro MT4
- FXPro MT5
- FXPro cTrader
- Mobile trading platform
With regard to the demo account, it is important to mention that it is available for all three stationary trading platforms that we have previously mentioned in the list. Thus, the customer can get to know the trading platform FXPro MT4 via the demo account as well as the broker-own variant FXPro cTrader.
MetaTrader 4 and MetaTrader 5 are popular platforms
The superordinate trading platforms include those trading platforms that were not developed by the broker himself. Such platforms, of which MetaTrader is a classic example, are developed by independent providers and in practice are then provided by relatively many brokers. Sometimes, however, the software is modulated by the respective broker, resulting in additional functions or add-ons, for example. Broker FXPro provides its customers with MetaTrader 4 and the latest version, MetaTrader 5, two cross-broker versions at once.
Both versions are considered to be powerful, and moreover, MetaTrader is considered by many experts and clients to be one of the three best trading software products available. MetaTrader 5 is similar to MetaTrader 4 in its basic structure, but it is equipped with even more extensive modules, features, and tools. These include, for example, tick chart trading, numerous limit orders, and a comprehensive information system.
Own trading platform of FxPro:
Not only the MetaTrader 4 and 5 can be used by customers with the broker FXPro, but the provider also has a self-developed trading platform to offer, namely the FXPro cTrader. This is a so-called ECN-platform, which can be distinguished particularly by the fact that trading with foreign exchange is possible from 0.0 pips in the range of the spread.
Requotes do not exist as well as some other “nuisances”, which are quite common for many traders on other platforms. As an alternative to the cTrader, the broker also provides a so-called FXPro Super Trader. However, this is not so much a classic trading platform, but rather a portfolio management environment that the Broker himself describes as revolutionary. Via this platform, the trader can identify strategies, copy them, or use them in any other way.
In addition, the FXPro Super Trader has the following advantages:
- Free credit line for the trader
- Automated investment platform
- Individual risk management
- Use in-house strategies without commissions
In addition to the previously mentioned trading platforms, the broker also offers mobile trading. This can be done via iOS or Android end devices. The app is similar to the stationary trading platform in its respective variants in many respects so that traders generally do not have to get used to changing from the stationary to the mobile trading platform and vice versa.
Conclusion: The FxPro demo account is unlimited
Our conclusion about the Broker FXPro is extremely positive, both in the area of the demo account and the trading platforms offered. The entire offer appears very well thought out and coordinated. The demo account has all the advantages that a test account in the area of CFD and foreign exchange trading can have today. The test account is unlimited in time and it is a real demo account, for the use of which the customer does not have to deposit any money into his trading account beforehand.
Furthermore, the test account of the broker FXPro is available for every offered trading platform and is very similar to it. FXPro is not only convincing with the demo account but also with the offered trading platforms. With the cTrader as well as the Super Trader, two broker-own variants are available, which are very professional. Those customers who are already used to a comprehensive platform, namely the MetaTrader 4 or 5, will also find what they are looking for.
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