Compass FX does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment by selecting one of the firms for the demo, FXCM, Forex.com, and OANDA. The Compass FX Demo account expires after 60 days.
| 🔎 Broker | 🥇 Compass FX |
| ☑️ Account | 🆓 Demo |
| 💳 Firms selection | FXCM Forex.com OANDA Direct FX FXDD Malta Tier 1 FX |
| 💰 Min. Deposit | None |
| 💻 Trading | Simulated |
| 💵 Currency | Virtual |
Min Deposit
USD 500
Regulators
NFA, ASIC
Trading Platform
MT4, NinjaTrader, Tradingview
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
CompassFX Demo Account – 6 key points quick overview:
Compass FX Demo Account Overview- How to set up a Compass FX Demo Account – Step by Step
- CompassFX at a Glance
- Compass FX Pros and Cons
- Compass FX Conclusion
- Frequently Asked Questions
Compass FX Demo Account Overview
The Compass FX demo account imitates the conditions of the brokers’ live trading accounts and give traders access to the same functions, features, and options they would have on a live trading account, with the exception that the demo account is risk-free since they make use of virtual funds to conduct their trading. Due to this, traders cannot withdraw any profits which are made on the demo account.
A demo account is also referred to as a practice account because it provides traders with the ability and freedom to explore a broker’s offering without running the risk of losing money, due to the provision of virtual money with which to ‘trade’.
Beginner traders can use a demo account to get acquainted with the live trading environment, where they can actively participate in trades and develop their own strategies.
Demo accounts are not intended for beginners only but provide more advanced traders an opportunity to explore what Compass FX has to offer.
How to set up a Compass FX Demo Account – Step by Step
1. Step 1: Register an account
To register for, and set up a demo account with Compass FX, traders must visit the introduced broker’s website to follow simple steps. An account verification process is usually mandatory due to regulatory requirements, so keep a copy of your ID and a proof of residency document ready for the last step.
2. Step 2: Start trading
Once your account is set up you can start trading in a risk-free environment.
CompassFX at a Glance
| Broker's Name | Compass FX |
| 🏛️ Headquartered | Richardson, Texas |
| 👋 National Futures Association, NFA | registration number 0232832 |
| 🏦 Accounts | Standard account, Micro account |
| 📅 Year Founded | 1990 |
| ⚖️ Regulating Authorities | National Futures Association (NFA), Australian Securities and Investment Commission (ASIC) |
| 🌐 Countries not accepted for trade | United States |
| ☪️ Islamic account (swap-free) | No |
| 💹 Sign up Bonus | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | Up to 200:1 leverage through FX Solutions Australia, Gain Capital U.K. and FXDD. |
| 💰 Minimum Deposit | $500 USD / R8000 ZAR |
| 💳 Deposit Options | Bank wire transfer, credit cards |
| 💳 Withdrawal Options | According to introduced brokers |
| 💻 Platform Types | MetaTrader 4 |
| 📱 OS Compatibility | Web, Desktop, Mobile |
| 📈 Tradable assets offered | Forex, CFDs and gold and silver |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | Not indicated |
| 📆 Customer Service Language | English |
| 📆 Customer Service Hours | 24/7 |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit
USD 500
Regulators
NFA, ASIC
Trading Platform
MT4, NinjaTrader, Tradingview
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Compass FX Pros and Cons
| ✔️Pros | ❌ Cons |
| Informative website | High spreads |
| Platform in 12 languages for global reach | No information about payment methods |
| Amazing liquidity | No Islamic Account options |
| Popular Internet trading software | No real choice of account types available |
| 2-3 pip spreads on EUR/USD and USD/JPY | |
| 3-4 pip spreads on other major currencies | |
| Fast and reliable trade execution | |
| Trailing stops and hedging capability | |
| Demo accounts can be opened | |
| Excellent customer service | |
| Platform available in 12 languages | |
| Trailing stops and hedging capability | |
Compass FX Conclusion
Compass FX provides a free demo trading account for beginners to practice forex trading in a 100% risk-free environment by selecting one of the firms for the demo, FXCM, Forex.com, and OANDA. The Compass FX Demo account expires after 60 days.
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Frequently Asked Questions
Can traders from South Africa open a Compass FX demo account?
Yes, South Africans can open a Compass FX demo account.
How long is the Compass FX demo account valid?
The Compass FX demo account is valid for 60 days.
Is the Compass FX demo account the same as a real account?
A demo account as is offered by broker companies like Compass FX is usually funded with virtual money and gives a prospective customer the opportunity to experiment with the company’s trading platforms and its features, before setting up a real account that needs to be funded with the customers own real money.
Can you withdraw money from a Compass FX demo account?
No, you cannot withdraw funds from a Compass FX demo account.
Is Compass FX a good option for beginner traders?
Compass FX demo account is a good alternative for learning on the go for new beginner traders.
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