Tickmill Demo Account
In this article
Right through this guide, you can get detailed information about what the Tickmill demo account is and how it is helpful for new traders!
We all know the purpose of a demo account that almost every broker is offering to their new or upcoming traders. A demo account is a suitably designed platform for traders to learn the art of trading and investigate some excellent trading strategies.
Let’s dive into the discussion below and see how you can open a Tickmill demo account:
What are the essential features of the Tickmill demo account?
Few essential features of a Tickmill demo account are discussed below:
1. Virtual deposit
Virtual deposit is the amount/funds which are required for opening a demo account. With the virtual funds, you can place some stimulated orders to start your trading.
In the initial stages, you should always start trading with the simulated deposit of a maximum of $10000.
2. Account type
A variety of account types are available in the Tickmill demo account category with varied characteristics. It will help if you look for an account that suits your requirements and is easy to start trading with.
3. Account currencies
Regarding currencies, different currencies are available, which you can use for your demo account deposit. This includes AUD, GBP, EUR, and USD.
In the leverage category, you have to choose the leverage amount on which you are comfortable trading.
High leverage will carry more significant risks as compared to a low leverage ratio. This generally means that greater leverage will show a more substantial margin to have secure trading. In addition, greater leverage will also bring high profits and lesser risks.
5. Trading platform
Tickmill has a service of MetaTrader 4 platform, which is available to be downloaded for PC or as a web version.
Who can use the Tickmill demo account?
Tickmill demo account functions with a virtual balance. Traders can easily invest with their real money without any danger of losing the amount. Is a Tickmill demo account beneficial?
A demo account is always a helpful platform for beginners to learn the art of trading and knowing basic strategies. However, a newbie must understand the practice strategies, market behaviour, or trading software.
Forex trading is hazardous to perform if you are not having basic knowledge about it. Creating a demo account will be a life saviour for you.
For an advanced trader, using a Tickmill demo account is perfect for investigating the current trading market. Plus, you can also test new markets or strategies for successful trading.
Step by step tutorial on how to open Tickmill demo account
To open a Tickmill demo account, follow the below-mentioned steps very carefully:
Step no 1: Add your personal information to the registration form
You have to insert all the details asked for in the registration form for opening a demo account. Make sure the data is accurate; otherwise, it may lead to your account cancellation.
Now pick account type, leverage of account, and the deposit amount.
Step no 2: Confirmation of account opening via email
Once you have entered all the details in the form, you will receive a confirmation notification in your email about the opening of an account. Login details will be given in the mail. Make sure the password is strong enough.
Step No 3: Download the trading platform.
You have to download MetaTrader 4, a trading platform on your desktop or mobile device. Web traders are also available for your assistance. Login into the trading platform by mentioning all your account details!
MetaTrader 4 is known to be the most famous software which retail traders commonly use. In just a few clicks, you can smoothly access the financial markets for quick trading. Get an opportunity to customize the market charts according to your requirements. Different indicators and tools are also available for personal analysis.
On the main webpage of Tickmill, trading tutorials are also included to help you more about what Tickmill is and how it is traded. In addition, you can buy or even sell currency pairs that are eventually traded against one another.
If a single currency increases in its value, you can lose or earn money.
Step No 4: Start the process of trading.
As you open the demo account, a window will appear to place your new order for trading. Mention the trading volume, i.e., 1 volume/lot, equal to 100.000 units of the base currency of the risk management and position.
For beginners, it is not quick to calculate the market trading positions. But don’t worry because the demo account will teach you all those basics without any hassle. In addition, Tickmill has some helpful forex calculator tools to understand the process of calcination.
Is there any fee/charges to open a Tickmill demo account?
Tickmill does not charge the trader with any fees or commission for opening the demo account. But, first, you need to open an account and deposit some virtual funds to start your trading journey.
A demo account has a friendly interface that is quite similar to any real trading account. In this way, you won’t feel any difference once you switch from a demo account to a real trading account. The only difference which pops up is in deposit currency which is real and not the virtual one.
In our detailed guide above, we have explained all the factors of a Tickmill demo account and its importance in practising for successful trading. Tickmill service of demo account is free to use and is unlimited. Therefore, it allows you to imitate real money trading as you generally do in a live trading account.
- Free to use
- Unlimited access
- Trade without any risk
- Change the ratio of leverage
- Imitate the real money trading
So all the beginners and advanced traders out there visit Tickmill broker right now and open your demo account to start a successful trading journey.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst