Our eToro demo account review, in additiona to the in-depth eToro broker review, will show you how to access it, introduce its features, outline the differences to live accounts, provide tips on using the eToro demo account, and highlight the pros and cons.
eToro Demo Account Opening: Step-by-Step
Traders can switch between the eToro demo account and the eToro live account from the web-based trading platform. There is no dedicated demo account registration form, meaning traders must open an eToro trading account, which includes an unlimited $100,000 eToro demo account. Follow our step-by-step guide below, and you will log into your eToro demo account with the ultimate step.
Here is how you access your eToro demo account:
1. Go to the eToro website and click on the green Start Investing button.
2. The short application form asks for your desired username, e-mail, and password. You may also sign-up with your Google or Facebook ID.
3. eToro will send a confirmation e-mail with a verification link, and once verified, you can log into your eToro trading account.
4. After you log into your eToro account, you must click on the Switch to Virtual link, located at the bottom of the left menu under the blue Deposit Funds button
5. A pop-up will ask you to confirm the switch. It will redirect to your $100,000 eToro demo account. The trading platform and functions remain the same, but your balance will switch from $0 to $100,000. You can always switch between the eToro demo account and the eToro live one.
- eToro offers all traders a $100,000 eToro demo account
eToro Demo Account Features
The eToro demo account offers traders identical conditions to the live one, including all trading instruments. The real differences are slippage and exposure to trading psychology. The latter is essential to the success of traders, but no demo account can simulate it. eToro automatically creates a $100,000 demo account with each registration and does not restrict it unlike many other brokers, where traders have access to demo trading for 21 to 30 days.
eToro grants traders the freedom to evaluate the trading platform and signal providers and does not pressure traders to open a live account. The most notable drawback to the eToro demo account is the $100,000 demo balance, which is excessive, as most traders have significantly less capital in their live portfolios.
eToro Demo Account Overview at a Glance
eToro Demo Account
Availability of an eToro demo account
eToro demo account duration
Unlimited (eToro does not list a time restriction like some brokers)
eToro demo platforms
Proprietary, web-based trading platform
eToro demo account options
None (eToro offers one account type with a $100,000 eToro demo account)
Algorithmic trading (EAs) enabled
No (eToro does not support algorithmic trading)
eToro demo account balance
$100,000 without customization features
Number of eToro demo accounts
One per e-mail and username
Differences Between Live and Demo eToro Accounts
The primary difference between the eToro demo account and the eToro live account is the lack of exposure to trading psychology. While it may appear insignificant, mastering it defines profitable traders from the up to 90% of traders who face losses. A secondary difference is the absence of slippage, profits, and losses due to the lack of actual trading.
The eToro account is ideal for copy traders to evaluate signal providers, and evaluate the proprietary, web-based eToro trading platform, and work on risk management and portfolio diversification.
Beginners must understand the limitation of the eToro demo account, especially given the high demo account balance of $100,000. It can result in misplaced confidence and a false sense of security or accomplishment. Countless pieces of evidence exist where beginners manage a demo account successfully for several months and fail once they switch to live portfolios. It occurs as demo traders never experience the psychological impact of trading and have never placed a trade in live markets. No simulation can offer exposure to the necessary aspects of trading successfully.
How to Use the eToro Demo Account
Since eToro does not offer MT4/MT5 trading platforms, beginners can use the eToro demo account to familiarize themselves with the functionality of the proprietary, web-based trading platform. It includes messaging other community members, as copy trading forms the core appeal of eToro.
Copy traders can evaluate signal providers for several months before committing capital to follow recommendations in live portfolios. The eToro trading platform allows switching between demo and live trading with a click, making it convenient to test multiple signal providers, even after managing live accounts.
Signal providers can use the eToro demo account to test strategies, adjust parameters, compare performances, and fine-tune their approach to provide better trading signals and attract more followers.
Below are tips on the best usage of your eToro demo account, which can provide traders with an essential tool if used for its intended purposes.
Forex traders should consider the following tips about using their eToro demo account:
- Trade lot sizes you would do in your live account, ignoring the $100,000 demo balance
- Avoid replenishing the demo account balance
- Execute risk management
- Evaluate copy traders for several months, and compare metrics before narrowing down which ones to follow in your live account
- Consider the limitations of demo accounts, like their absence of trading psychology
- Use your demo account daily and attempt to treat it as a live account as much as possible
Pros & Cons of the eToro Demo Account
Traders should evaluate the pros and cons of the eToro demo account and understand what they will get and how to use it properly.
The pros of the eToro demo account are:
- Unlimited duration
- Easy to register
- All trading instruments are available
- Ideal for evaluating copy trading signal providers
The pros of the eToro demo account are:
- High demo account balance
- Only one demo account per username and e-mail
- Lack of exposure to trading psychology
- False sense of security and accomplishment
- Promotes reckless trading, unrealistic expectations, and a wrong mentality
The eToro demo account is ideal for traders to evaluate copy trading signal providers, and beginner traders can evaluate the eToro trading platform and features. There is no time limit, offering traders a pressure-free environment, and traders can easily switch between demo and live accounts within the trading platform. Regrettably, eToro limits the eToro demo account to one per username and e-mail. Beginners should consider the limitation of the eToro demo account as they use it.
Can I withdraw from a demo account?
Is a demo account real money?
Can you make money on a demo account?
How do I download an eToro demo account?
How should I use an eToro demo account?
How can I delete an eToro demo account?
How do I open an eToro demo account?
Does eToro have a demo account?