How to Open an AvaTrade Demo Account: Step-by-Step Procedure
Opening an AvaTrade demo account takes minimal effort but may vary depending on your geographical location and which of its eight regulators has oversight in your region.
Follow our step-by-step guide below.
Here is how you access your AvaTrade demo account:
1. Go to the AvaTrade website and click on the “Free Demo” link to the right of the orange “Register Now” button.
2. The pop-up will only ask you to enter your e-mail and desired password. Clicking on “Practice for Free” completes the registration, and AvaTrade will load the demo account with a default balance of $10,000.
3. AvaTrade will then send a confirmation e-mail with your login details, but the demo account only remains active for 21 days from creation.
- AvaTrade offers all traders a $10,000 AvaTrade demo account
- Traders can easily switch between live and demo portfolios from the option in the top menu bar
How to Use the AvaTrade Demo Account
Beginners can use the AvaTrade demo account to familiarize themselves with the functionality of the five trading platforms and trading tools, for which the 21-day demo period suffices.
Copy traders who want to evaluate signal providers require months of testing, and as is common, must take steps to ensure that AvaTrade grants the necessary extension.
This also applies to signal providers who wish to tweak their strategies, adjust parameters, compare performances, and fine-tune their approach to provide objectively better trading signals to attract more followers. In addition, algorithmic traders who need to be able to bug-test their solutions, and those who would like to test EAs, also need months of unlimited access to their demo account.
AvaTrade’s trading platform allows users to switch between demo and live trading in a single click, making it highly convenient to test multiple signal providers, even after managing live accounts.
Main Features of the AvaTrade Demo Account
The AvaTrade demo account aims to simulate live trading conditions as closely as possible but cannot replicate slippage or exposure to trading psychology, as no actual trading takes place.
The AvaTrade demo account gives you a demo account balance of $10,000, without the ability to adjust it. Since this is above the realistic account balance of most live portfolios, it can create unrealistic expectations and trading patterns.
Regrettably, AvaTrade restricts its demo account to 21 days. However, it allows traders to ask for extensions. The default period is usually enough for most to test the five trading platforms, including the three proprietary ones, and traders can familiarize themselves with their functionality and usability.
Traders seeking to learn or tweak trading strategies, test signal providers, evaluate EAs, and bug-fix algorithmic trading solutions, must ensure that AvaTrade will offer them extensions, as they require unlimited access to the demo account.
AvaTrade Demo Account Overview at a Glance
AvaTrade Demo Account
Availability of an AvaTrade demo account
AvaTrade demo account duration
21 days (AvaTrade allows extensions if traders request them before expiry)
AvaTrade demo platforms
MT4, MT5, three proprietary web-based trading platforms
AvaTrade demo account options
None (AvaTrade offers a $10,000 AvaTrade demo account)
Algorithmic trading (EAs) enabled
AvaTrade demo account balance
$10,000 without customization features
Number of AvaTrade demo accounts
One per e-mail and username
Differences between Live and Demo Accounts with AvaTrade
While the AvaTrade demo account attempts to simulate live trading conditions, it cannot offer traders exposure to trading psychology.
This primary difference between live and demo accounts with AvaTrade may appear minimal, but mastering trading psychology separates profitable traders from up to 90% of the unprofitable ones.
Traders often lose money more often than they make it and AvaTrade is no exception, as 76% of traders make a loss within their live accounts. Other differences include the absence of slippage, profits, and losses due to the lack of actual trading.
The default AvaTrade demo account, with its 21-day limit, is ideal for traders to test the five trading platforms, but it requires unlimited access for all other uses. AvaTrade offers extensions if traders request them before expiry, but it only allows one demo account per client, which restricts advanced traders from benefiting from the AvaTrade demo account.
Beginners must consider the limitations of the AvaTrade demo account, especially those who want to use it for educational purposes. The demo account balance is loaded with $10,000, and this can result in misplaced confidence and both a false sense of security and accomplishment.
Many achieve profitable results in their demo accounts and then face losses immediately in their live portfolios. The reason for this is the lack of exposure to trading psychology and its impact on decision-making, especially for those who have never faced live trading conditions. No simulation can offer true exposure to all the aspects of trading successfully.
Pros and Cons of the AvaTrade Demo Account
Before traders open their AvaTrade demo account, they must evaluate the pros and cons to understand what they will get and how to use it properly.
The pros of the AvaTrade demo account are:
- Easy registration
- All five trading platforms are available
- Algorithmic trading is enabled
- Third-party copy trading services allowed
- Availability of trading instruments
The cons of the AvaTrade demo account are:
- High demo account balance
- Only one demo account per username and e-mail
- 21-day time limit by default
- Lack of exposure to trading psychology
- False sense of security and accomplishment
- Promotes reckless trading, unrealistic expectations, and a precarious mentality
How to Best Use Your AvaTrade Demo Account
These AvaTrade demo account tips will allow you to enjoy its maximum benefit and proper use.
Tips on using the AvaTrade demo account:
- Familiarize yourself with the functionality of the trading platforms
- Ask for the maximum extension in the demo account, as all usages require unlimited access
- Try to execute risk management identical to live accounts
- Ignore the $10,000 demo account balance and trade lot sizes based on your planned live deposit
- Avoid replenishing the demo account balance or asking for a reset
- Consider the demo account limitations, like the absence of trading psychology
- Test EAs for several months to ensure exposure to various trading conditions, as many EAs only work for short periods before accumulating losses
- Compare the metrics of signal providers for a few months before allocating capital
- Use your demo account daily and attempt to treat it as a live account as much as possible
AvaTrade Demo Account Bottom Line
The AvaTrade demo account is ideal for helping traders to familiarize themselves with the five trading platforms at AvaTrade. There is a default 21-day time limit and a $10,000 demo account balance, but AvaTrade allows extensions if traders request them. But AvaTrade only allows one AvaTrade demo account per client, further restricting its usage, while many other brokers offer unlimited and fully customizable demo accounts.
Beginners must consider the limitation of the AvaTrade demo account as they use it but can consider our tips to ensure they receive the full benefit of their AvaTrade demo account.
AvaTrade offers high-quality educational content both through its website and via its spun-out educational academy SharpTrader. Beginners should consider incorporating these lessons into their trading strategies if they are using the AvaTrade demo account for educational purposes.
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