Yes, EVFX offers a free demo trading account for beginner traders to train on. The Demo account interface is ideal for traders who want to learn to trade without incurring any trading risks or losses. EVFX practices forex trading in a 100% risk-free environment.
EVFX at a glance
| Broker's Name | EVFX |
| 📍 Headquartered | London, UK |
| 📅 Year Founded | 2011 |
| ⚖️ Regulating Authorities | FCA |
| 🌐 Countries not accepted for trade | United States, Belgium |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1: 30 |
| 💰 Minimum Deposit | $500 |
| 💳 Deposit Options | Debit and Credit Cards, Skrill, Bank Wire |
| 💳 Withdrawal Options | Debit and Credit Cards, Skrill, Bank Wire |
| 💻 Platform Types | MT4 (ECN), MT4, Currenex, CQG, FIX |
| 📈 Tradable assets offered | Mac, Windows, Web, Mobile Android, iPhone, iPad |
| 📱 OS Compatibility | Forex, Commodities, FX, CFDs, Indices - FX in about 90 pairs, Commodities in around 20 and 12 Stock Indices. |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📆 Customer Service Hours | 24/5 |
Min Deposit USD 500 Regulators FCA Trading Platform MT4, Currenex, CQG, FIX Crypto Yes Total Pairs 90 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
EVFX Demo Account 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 EVFX Demo Account below.
EVFX Demo Account – 6 key points quick overview:
Here is an overview of the EVFX Demo Account as well as the features that are offered.
How to set up a Demo Account – Step by Step
To register for, and set up a demo account with EVFX, traders must visit the website and follow the simple steps.
New accounts are applied online and processed according to established industry standards.
You can open a live account or demo account (also called a practice account) from start to finish on the EVFX website and choose to open a demo account first. Brokers usually require an e-mail and password to complete the initial step and if more than one currency can be used, traders must select their preferred account currency.
EVFX accounts can be opened in USD, CHF, EUR, GBP, HKD, JPY.
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.
Note that this ‘Know Your Client (KYC) process, may only be necessary once you decide to move forward and work with real money.
Follow these steps to open an account:
- Ensure that you have your email address and ID ready.
- Select the country of residence and your currency, if applicable.
- Choose that you want to try a demo account.
- Provide basic personal information requested.
- Proceed through the KYC process if needed and get approved.
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 EVFX has to offer.
Demo Account Features
EVFX demo account imitates the conditions of a live trading account and gives 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.
Min Deposit USD 500 Regulators FCA Trading Platform MT4, Currenex, CQG, FIX Crypto Yes Total Pairs 90 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Pros and Cons
| ✔️ Pros | ❌ Cons |
|---|---|
| Demo accounts can be opened | Little information regarding trading conditions |
| Interests aligned with those of clients | No Islamic Account available |
| Tight spreads on major currency pairs | No proper educational or research tools |
| Several styles of investments possible | Not suitable for beginner traders |
| Well suited for professional traders | |
| Wide variety of trading platforms available | |
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Frequently Asked Questions
What is the difference between a demo and a live trading account?
A demo account as is offered by broker companies like EVFX 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.
Does EVFX offer a demo account?
Yes, here is all the info you need about EVFX Demo account.
How long is the EVFX demo account valid?
It is not clear how long the demo account can be used.
Which live trading accounts does EVFX offer?
- Personal Accounts.
- Corporate Accounts.
- Introducer Accounts.
Does EVFX offer an Islamic Account
No.
What are the available deposit currencies for a live trading account?
USD, CHF, EUR, GBP, HKD, JPY.
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