XTB demo account review
XTB, one of Europe's leading CFD and Forex brokers, lets you open a demo account on its platform. But if you’re new to the website, how will you open your XTB demo account? How does this free account help you? Will you be able to access different features?
Beginners have various questions about this demo account on XTB. Read the blog to solve your queries about the XTB practice account.
XTB demo account review
Novice traders will not encounter problems, as the xStation interface is highly intuitive. The aesthetic interface is equipped with a range of features.
Faster execution– XTB executes its orders very fast;
Over 5000 tradable markets are available;
Video tutorials and other others to accelerate the learning process;
Engage in risk-free trading activities for more than four weeks;
Get $100k as virtual funds in your free account;
Trade indices, Forex, commodities, and shares;
Use powerful platforms like MT4;
Trade alerts to your mobile;
Protection against negative balance protection;
Multilingual customer services are available 24 hours.
Using your XTB demo account, you can understand how to set buy/sell orders. Besides, the free account lets you learn how to track various positions and determine profits/losses.
Best Free Forex Demo AccountsHow does an XTB demo account differ from a live account?
XTB demo or free account is a virtual version of a real trading account. The significant difference is that you do not need to deposit real money for trading with a demo account.
Although it is a practice account, it gives you a perfect replica of the real-time market. You will also find similar instruments and prices. However, you will not earn money from your free account. It is simply intended to help you understand the trading platform. The software used by XTB is the same as you will use for your live XTB account.
If you keep your live account inactive for a month, you must pay $10. But no such fee is needed for the demo account.
How to open an XTB demo account?
Creating a free XTB account involves a few steps.
Step 1- Go to the XTB official site
How to open an XTB demo account
Visit the site and open the page to create your demo account. You will find a registration page for risk-free signup. The XTB home page also gives you a link to the free account. So, you can learn about the broker before opening the account.
Step 2- Submit the essential details
The short registration form will ask you to fill in the fields with:
Country of residence
Email address
The broker will tell you about the regulatory body responsible for protecting you. For instance, if you are from the UK, the Financial Conduct Authority will safeguard you.
Step 3- Customize the account
How to open an XTB demo account
The broker will ask you to provide more detailed information, including your phone number, name, strong password, and account type.
Step 4- Verify your details
How to open an XTB demo account
It is an optional step, as XTB has not made it mandatory to confirm your profile details right away. You can start trading on the free account. However, if you like to switch to the live account, confirmation is important.
Now your demo account is ready for your access.
How to switch to a real account?
Most XTB traders create both the demo and the live accounts. Switching between these accounts is easy and quick. There is no need to re-enter the details when you start using the real account.
How to switch between accounts
The right-hand corner of the interface presents you with a drop-down menu. Click this menu to find options for choosing between demo mode and real account.
While switching to a real XTB account, you can continue trading through the demo account. To use the live account, you should upload documents (like proof of residence and identity) on the website. Fill out a form and wait for account verification. Fund your account with a minimum deposit and start trading activities.
Is the XTB demo good for beginners?
As a beginner, you can sign up with a free XTB account to know whether the trading platform provides a safe environment. It lets you explore every feature of the broker’s platform. Besides, you will get the opportunity to practice different strategies. The web XTB platform has a beginner-friendly interface, and the mobile platform is also well-designed with all the price alerts.
Therefore, if you’re a beginner in the trading world or new to the platform, the XTB demo account is good to start with.
FAQs
Should I use the XTB demo account as an experienced trader?
The XTB demo mode is accessible to traders of all levels. Even though you have experience, you can use this mode to get several advantages. You will learn about the unique features of the trading platform.
Is STB a well-regulated and safe platform?
Well-known regulatory authorities like IFSC, CySEC, KNF, and FCA regulate XTB. So, this broker’s platform is safe for traders.
Can I use the demo mode for more than four weeks?
Although the trial period is two weeks, you can renew it indefinitely.
Is there any drawback to the XTB trading platform?
One minor problem is that you can create a single account per email.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.