A Demo account works in the same way as a live trading account, with the key difference being that it uses virtual funds and therefore does not require the use of any real money. Demo accounts have most (but not all) of the same functions as a live account and are designed to help traders learn how to trade, develop skills, and practice or test trading strategies without financial risk. Axi Demo accounts are free to open and can be used for 30 days.
Opening a Demo trading account
Clients can currently apply for a demo account only via the client portal. To open a demo account, please follow these steps:
- Sign up or log in to the Client Portal.
- Go to the ‘Demo’ account tab in the dashboard.
- Click ‘Get Started’ to begin the demo account application.
You will be asked to provide the following information:
- Demo account type: Standard / Pro
- Currency: AUD / CAD / CHF / EUR / GBP / HKD / JPY / NZD / PLN / SGD / USD
- Virtual Fund: The virtual fund will be based on the selected currency.
- Leverage: 500:1 / 400:1 / 300:1 / 200:1 / 100:1
- MT4 demo account password: Set your demo account password.
After setting up your demo account password, you can submit the application.
If the application is successfully submitted, you will see a successful pop-up in the Client Portal.
If you click the ‘X’ button in the application form, a pop-up will appear asking if you want to ‘Resume Application’ or ‘Close & Explore Dashboard’.
- The Resume Application will close the pop-up and allow you to continue the application.
- Close & Explore Dashboard will take you back to the Dashboard page.
Please note, that if you quit the application, all details will be lost, and you will need to start the application again from the beginning.
The demo account status may take a few seconds to a few minutes to transition from Pending Status to Successfully Created.
Note: Currently, clients will not receive an email notification if the demo account application is successful or failed. (This feature is under development, stay tuned for updates.)