Demo trading fulfills a core role for beginners and seasoned traders, but not all Forex brokers fully embrace or support it to the same degree. Read our FBS demo account review to help you understand what to expect. We also included tips on how you can benefit the most from your FBS demo account and cover the differences with live FBS trading accounts.
FBS Demo Account Opening - Step by Step
With our step-by-step guide below, you will log into your FBS demo account as the final step of the process.
Here is how you open your FBS demo account:
1. Go to the FBS website and click “Open Account.”
2. Enter your e-mail address and name. You may also use Facebook, Google, or Apple IDs to register. Click “Register as Trader,” set your password, and confirm your e-mail. You should then be granted access to the FBS Personal Area.
3. Select “Demo” in the Personal Area, choose your preferred demo account type, and click “Open account.”
4. Follow the on-screen instructions, which include the selection of the trading platform and demo account virtual cash balance.
5. Download the trading platform from the link FBS provides during the demo account registration, and use the account number, password, and server provided. FBS also e-mails you the details.
Noteworthy:
- Existing clients can log into their FBS Personal Area and start from step number three.
- FBS allows traders to add more virtual funds to their demo account balance by contacting customer support.
- All demo accounts are available for a limited time, but traders can open an unlimited number of demo accounts.
How to Use the FBS Demo Account
Traders can get the most benefit from their FBS demo trading experience while avoiding shortfalls by following the following tips:
- Use your FBS demo account daily.
- Never be tempted as a beginner to simply replenish your balance, try to treat funds as real.
- Trade lot sizes suitable to your balance, don’t use too much leverage.
- Use appropriate risk management, use stop losses.
- Choose FBS demo account settings similar to planned live portfolios, get used to the platform’s functions.
- Consider the demo account limitations, especially for beginners the absence of trading psychology is key.
- Tweak and test strategies in a virtual environment, gather data, and compare performances.
- Before buying EAs, test them for several months, as most work for short periods only
- Evaluate signal providers and compare their performances and metrics for a few months before committing capital.
FBS Demo Account Features
Beginners, seasoned traders, copy traders, and algorithmic traders can all familiarize themselves with the broker and the technology. As well as test, tweak, compare, evaluate, and bug-fix trading strategies and solutions in the FBS demo account.
FBS Demo Account Overview at a Glance
FBS Demo Account | Features |
|---|---|
Availability | Yes |
Account duration | 25 to 45 days (MT4), customizable (MT5) |
Demo platforms | MT4, MT5 |
Account options | Customizable |
Algorithmic trading (EAs) enabled. | Yes |
Account balance | Customizable |
Number of FBS demo accounts | Unlimited |
Differences between Live and Demo Accounts with FBS
Although demo trading environments such as the FBS account can traders gain a basic understanding of trading strategies and technical analysis it is important to recognise that it cannot fully replicate the psychological and emotional aspects of live trading, which are crucial to success. Therefore, traders need to be prepared to face the challenges and the risks of live trading and develop the necessary skills and mindset to succeed.
The primary differences between live and demo accounts are:
- No exposure to trading psychology, which separates up to 90% of unprofitable retail traders from those that consistently make returns.
- No slippage or other liquidity issues, profits, and losses, as no actual trading occurs.
Noteworthy:
- The relationship between trading psychology and how it influences trading often results in immediate live portfolio losses for new traders even after profitable demo trading.
Pros and Cons of the FBS Demo Account h2
Traders should consider the pros and cons of the FBS demo account to avoid its shortfalls and use it properly.
The pros of the FBS demo account are:
- Fast registration process
- Fully customizable
- Algorithmic trading enabled.
- Evaluation of copy traders and signal providers
- Choice of trading instruments
- Availability of trading platforms and accounts
The cons of the FBS demo account are:
- Time restrictions on MT4 demo accounts
- Lack of exposure to trading psychology
- False sense of security and accomplishment
- May promote reckless trading, unrealistic expectations, and a poor trading mentality.
FBS Demo Account Bottom Line
The FBS Demo has a time limit for MT4 and will automatically delete accounts upon expiry, while FBS notes that it will close MT5 demo accounts at its discretion. Traders may open unlimited demo accounts, but the time restrictions remain counterproductive. Read our up to date FBS broker review to learn more about this broker. Demo traders should use the FBS demo account like a live account to get the most realistic experience. FBS automatically deletes MT4 demo accounts, where the duration ranges between 25 and 45 days, dependent on the account type. FBS determines the MT5 demo account deletion at its discretion, suggesting some flexibility. You can open a demo account with FBS by completing a short online application, which grants access to the FBS back office, enabling traders to open an FBS demo account. Yes, FBS offers a demo account for six of its seven account types.FAQs
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