Vantage FX Demo Account: The Complete Guide

The Vantage FX demo account is a free-of-cost account available for traders. While the demo account is highly beneficial for beginners, even professional traders can use them. Some traders also call the demo account a Practice account.

The demo account improves trading skills and also instills more confidence in traders. Traders can use the platform for an unlimited period. The platform is also highly user-friendly.

The virtual account provides traders with stimulated money. Therefore, traders can use fake money. Traders can access every service similar to a real account.

Dig deeper and acquire insights into a demo account's features, advantages, and disadvantages. The article also contains the steps to open a demo account.

Vantage FX Demo Account Features

The demo account provides traders with a vast amount of features. Traders can experiment with multiple strategies and check their ability to succeed. Some essential features of the demo account are as follows:

• Traders can detect all aspects of trading, such as monitoring the market using the demo account. They are also able to track their order status.
• Vantage FX virtual trading also provides traders with research products and market analysis tools. They become familiar with the tools to improve their trading.
• The demo account features the two trading terminals, MT4 and MT5, available under Forex.
• The virtual trading platform is reliable as well as user-friendly.
• The demo account also enables them to check the several available order types.

Vantage FX Demo Account Charges

If you are willing to open a demo account, you won't have to bear any applicable charges. However, traders need to pay some bills to trade on live performances. The costs that traders need to cover include spreads and commission.

Traders also need to pay some account maintenance and opening account charges. The fun medium charges are taken separately. Mediums like bank wires are chargeable.

But all the mediums are fast and secure. The broker provides the trader with a virtual currency amount of $20000. Traders can use that virtual currency to tackle everything that the market throws at them.

Merits and Demerits of Using a Demo Account

Merits:

• Traders gain real trading experience by using virtual money.
• No risks are involved with a demo account.
• Traders can test their marketing strategies to determine their most valuable assets.
• Traders can analyze their past performance to determine where they went wrong.
• Traders become more prepared for the market by learning to improve their strategies.

Demerits:

The only disadvantage of a demo account is that you can't claim the bonuses. But once you acquire a considerable amount of trading experience, you can create an STP or ECN account to claim your Vantage FX bonus.

Steps to Open a Vantage FX Demo Account

Opening a demo account is pretty easy and straightforward. The simple steps to gain access to the demo trading platform are as follows:

• Enter the official site of Vantage FX broker. The landing page contains a demo account option.
• Select the demo account option to see a popup form. Fill up the application and submit it online.
• After submitting the form, the broker gets to connect with the trader. The trader will have to complete the KYC process, which can be completed virtually quite easily.
• Virtual KYC helps verify the identity details of the trader. They need to provide copies of their residence and identity to the company.
• The broker calls the trader to finally complete the KYC process. The account will be verified in the end.
• After verification, traders get access to their account credentials and another account.
• Traders can use that account to begin their trading journey.

Closing Thoughts

You can easily create a Vantage FX demo account and upskill your trading abilities. Traders need to submit their identity proof which can even be a bank account or credit card statement. Apart from identity proof, traders also need to submit a PAN card copy to verify their financial status. 

The demo account is available for MT4 as well as MT5 terminals. If you are still worried about the functionalities of the account, read our Vantage FX account review now. After that, visit the official website to create your demo account.