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How to Open a MetaTrader 5 Demo Account?

This article will show you in detail everything you want to know about how to start and provide useful tips for working with the MT5  platform, such as how to trade on an MT5 demo account, and much more.

Open an MT5 account:

In this article, we are going to give you all the information you need to set up both a live account with MT5 and an MT5 download demo account. Because both versions are similar, we are going to start with the common information on how to set up a live MT5 platform to give you an idea of how the platform works. Later on, we will discuss setting up this trading demo account in detail.

Trading with MT5:

To answer the question of how to open a trading account on MT5, we must look at some steps that are included in the process.

These steps are:

    Choose an MT5 broker

    Download the trading platform

    Creating a trading account

    Log in to MT5 

Let’s look at these five steps individually, to give us a more detailed understanding of how to open a trading account on MT5.

1-Choose an MT5 broker:

The first step is to choose a forex broker which offers the MT5 trading platform. Selecting a good broker can be a daunting task due to the amount of choice there is out there. Be sure to do your research carefully.

2- Download the trading platform:

Whether you are considering opening a live account for MT5, or an MT demo trading account, you will need to download the software.

If you are using Windows, head over to the MT5 download page, fill in your details, and start your download! 

To log in, you need to have a live or demo trading account.

3-Create your MT5 account:

Once you have the MT platform on your device, you will need to open an account with your chosen MT5 broker.

Opening an MT5 demo account:

A trading demo account enables you to trade different tools in MT5 with virtual funds, allowing you to practice various trading strategies without risking your capital. You can practice trading on an extensive range of products, all with real market prices. Therefore, an MT5 demo account will fit any trader’s interests. You can get an MT5 demo account download for pc or Mac. The MT5 is available as a demo trading app for mobile devices.

MT5 demo account forgot password:

 Simply click on ‘forgot password” on the login page and follow the instructions to reset your password.

Adjust balance in MT5 demo account:

adjusting the balance on your MT 5 demo account depends on your broker. Contact your broker to find out your options.

How to trade on an MT5 demo account:

On the MT demo account, you can test trading and evolving your skills without risking your real funds. Try making your 1st trade:

    Choose a financial tool from the market watch window

    Open the context menu

    Click on “New Order”

    To make a Sell trade, click “Sell”

    To make a Buy trade, click “Buy”

Available stocks on the MT5 demo account:

The MT5 demo account offers the same traits as the real account, you can trade the same stocks. 

Which server does the MT5 demo account use?

The server your demo account depends on which broker you open an account with. 

Delete your MT5 demo account:

You aren’t able to delete your only logged-in demo account in MT5. If you have only one logged-in demo account and you want to delete it, then you must create a new one, or log in to another account and delete the first one from the other account.

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