24Option Demo Account mimics a live trading account and offers many features for traders. Traders have access to the same functions, features, and options that they normally would on a live trading account.
Choose your quick section of our 24Option Demo Account below.
24Option Demo Account Types Revealed:
Here is an overview of the 24Option Demo Account as well as the features that are offered.
How to set up a Demo Account – Step by Step
Opening a demo account with 24Option will consist of the following steps:
- To open a demo account, you will first need to register for and fund a live account, a significant drawback when compared to most other brokers. Your live account will have to be funded with a minimum of $250 (R3489.70 USD/ZAR at the time of writing) before you can open a demo account.
- Once you have done so, you can register for the demo account by filling out the online registration form. You will not have to use your $250 (R3489.70 USD/ZAR at the time of writing) deposit to activate your demo account.
A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money.
A forex demo account is also intended for beginners to get familiar with the various aspects of trading.
As such, a demo account will allow traders to learn how to place orders, managing existing trade positions as well as more advanced functions such as testing or fine tuning a trading strategy.
If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.
Demo Account Features
The demo account from 24Option allows for testing of trading strategies as well as the broker’s software features. The demo account also comes with the following additional features:
- Positions on the demo account are taken in the same way and on the same products as when using a real account.
- No time limit on usage, the demo account remains useable for as long as you want, although it will expire after a certain length of time, such as one month.
- The demo account gives access to MetaTrader 4 as well as the broker’s proprietary trading software.
- The demo account includes additional coaching tips for beginner
Pros and Cons
| PROS | CONS |
| Demo account does not expire | Demo account can only be opened after registering for a real account and depositing $250 (R3489.70 USD/ZAR at the time of writing) |
| Demo account has additional coaching tips |
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FAQ
What is the difference between a demo and live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does 24Option offer a demo account?
Yes, 24Option offers a free demo account to all new traders.
For how long is the demo account valid?
The demo account does not expire, although it will become invalid if it remains dormant for more than a month.
Which live trading accounts does 24Option offer?
24Option provides traders with a selection of 4 different account types, which consist of the Basic Account, Gold Account, Platinum Account, and the VIP Account.
What are the available deposit currencies for a live trading account?
24Option does not stipulate the accepted deposit currencies.
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