What is a demo account and how do I get one?
- Demo accounts are otherwise known as practices accounts for new traders to familiarize with the AIMS trading platforms to get a feel of the actual live trading. It is a highly recommended way to begin your trading career or for experienced traders to test newly formulated techniques and strategies. In this circumstance, we offer demo accounts for Metatrader 4.
Does AIMS demo account involve real money?
- No real money is involved. As mentioned, demo account is an instrument of practice using virtual money. The amount of virtual money is determined based on your choice of initial deposit of either USD 10,000 or any amount you select.
- There are absolutely no charges for any transactions made using the demo account. Everything is a mere depiction of real live situations you will face on a live account and to accustom you to the usage and functionalities of AIMS Trading platforms. You will not be liable for any losses or entitled to any profits in the demo account.
Does the demo account expire?
- Unlike most online brokers, AIMS demo trading account is non-expiry. We welcome you to use our free demo accounts as long as you wish because we believe that you should only start trading live when you feel comfortable.
- We encourage you to continue practicing with us on our demo accounts till you are sufficiently equipped and ready to make real money.
Any similarity between a demo account and a live account?
- The basic intention of the demo account is to mimic live trading as much as possible to provide traders a tangible feel of a real trading environment. The pricing on the demo platform is indicative of the live pricing but should not be confused as a real time mirror image of what is displayed on a live account.
- The underlying reason is that the demo Account is designed to assume that all markets are infinitely liquid at all times of any transaction. However, this is not the case of how the live markets function.
- During highly volatile market periods such as fundamental news releases, there are occasions when the interbank market is illiquid.
- The demo account and the live account are hosted on different servers. This is to ensure that clients are able to experiment with all kinds of trading methods and EAs on Demo servers and that these excessive loads do not affect the integrity and performance of the live servers. However, we strive to uphold the most indicative pricing and spread to provide the best gauge of what a live account offers.
How to proceed with the demo account after installing Metatrader 4 software?
- 1. Open up AIMS Metatrader 4 software.
- 2. The Open an Account screen may appear automatically upon first log in. Otherwise, go to File and click on Open an Account.
- 3. Select New Demo Account.
- 4. Fill in the information required and check on the I agree to subscribe to your newsletters box and click Next.
- 5. You will be given a Login and Password. Do record down this login information as it is unlikely required on your subsequent logins.
- 6. Your Demo Account Number will be displayed on the top left corner of AIMS Metatrader 4 as well as under the navigator window.
Can I trade on my demo account during weekends?
- Similar to the live account, there is no trading on weekends. Trading is available only during regular trading hours. The Forex Market opens on Sunday 5pm EST (10pm GMT), closes on Friday 5pm EST (10pm GMT).