Contact

How To Open A Demo Account In MetaTrader 4

September 19, 2019
by Nick Alexander, Market Analyst

Article Recap

Learn how to open one or multiple Demo accounts in MT4 with our step-by-step tutorial

Demo accounts are a great way to test the different platforms and trading conditions brokers are offering before committing to a Live CFD account. They’re also an efficient tool in helping you develop your skills with the feature of real-time trading and live prices.

To find out how to log in to your Live MetaTrader 4 account, please read Eightcap’s “Download, Install, and log in to the MetaTrader 4 Platform” guide for further instructions.

By default, Eightcap’s demo accounts are active for 30 days. If you want to extend your demo period then you can submit a written request to Eightcap’s customer service. Additionally, clients can open as many Demo accounts as they need.

Create Account Try Demo

This MetaTrader 4 guide will help you to:

  • Find the new account opening option;
  • Find your broker;
  • Choose account parameters;
  • Generate your new Demo credentials;
  • Switch accounts.

Step 1 – Open a new MetaTrader 4 account

Whether you have just downloaded MT4 for the first time, you want to open an additional Demo account, or you have lost your account login details, you can automatically open a new Demo account directly from the MetaTrader 4 platform.

To do that go to the “File” main menu and select “Open an Account”

A screenshot of the Eightcap's MT4 with the File menu opened, mouse cursor on the Open an Account option

You can also go to the “Navigator” window and select the same option from the context menu by right-clicking on “Accounts”.

A screenshot of the Eightcap's MT4 showing the Open an Account option in Accounts in the Navigator panel

Step 2 – Select MT4 account type and broker

A new window will open with a list of trading servers. Select the appropriate server from the options: In this case, “Eightcap-Real” for Live accounts or “Eightcap-Demo” for Demo accounts.

A screenshot of the Open an Account window, trading servers screen in MT4

If Eightcap’s servers don’t appear on the list, click “Add new broker” and search for “Eightcap” by clicking “Enter” or “Scan”. Click “Next” after you have selected the required server.

A screenshot of the Open an Account window, servers scan in MT4

Step 3 – Configure your Demo account parameters

In the next window, make sure “New demo account” is ticked before selecting “Next”.

A screenshot of the Open an Account window, selecting account types in MT4
Fill in your name, email and phone number in the next section. Don’t forget to choose your account parameters from the drop-down menus. You can select a deposit amount ranging from 3000 to 5000000 and leverage from 1:25 to 1:500.  You can select both Standard or Raw accounts in AUD, USD, EUR, and NZD.

For the MetaTrader 5 Demo, you can also select GBP, which is available for all Live accounts. Note that currently Raw Demo accounts are not tradable but display the Raw prices and specifications.

Before clicking “Next” make sure you have ticked “I agree to subscribe to newsletters”.

A screenshot of the Open an Account window, personal details in MT4

Step 4 – Save your Demo account credentials

The credentials for your newly created Demo account will be automatically generated. Make sure you save them before continuing as you’re the only one who will have access to them.

A screenshot of the Open an Account window, registration in MT4

After clicking “Finish” you will hear an alert from the platform letting you know that you are now logged into the new account.

Step 5 – Confirm you are logged in and start trading

In the “Mailbox” tab of the “Terminal” window, you will see welcome messages introducing you to the platform. Your Demo account will be visible in the “Navigator” window, along with any other accounts you have opened. You can easily switch between account from this window, all you need to is double-click on the account you want to use.

A screenshot of the Eightcap's MT4 platform with a highlight of the Users tree in the Navigator panel

Under the ‘’Trade” tab you will be able to view your remaining Demo account balance.

A highlight on the Order panel on a screenshot of the Eightcap's MT4

Now you are all set up to start using the MT4 Demo account! Read our guides on how to download and install MT4 on Windows PC and Android.

All times are AEDT.