Pepperstone demo account tutorial for new traders
Everything you need to know about the Pepperstone demo account is quite straightforward. The information you need includes how to open the account, the offers you get with the account, amongst others. On this page, we will discuss the demo account for new traders who want to try the forex broker Pepperstone and its trading conditions.
How to open your Pepperstone demo account
Registering for and getting your Pepperstone demo account is quite straightforward. Here we outline the simple process:
- Navigate to the Pepperstone website and click the ‘Trading with us’ tab. Then navigate to and click on the ‘Trading Accounts,’ scroll down past the account features to the ‘Ready to Trade?’ area and click on ‘Try Demo.’
- The trader will be redirected to a new page that consists of an online application. The trader will first have to select the box confirming that they are over 18 years of age and that the trader agrees with Pepperstone’s policies.
- Traders can either fill in the form or alternatively the ‘Register with Google’ or ‘Register with Facebook’ options can be used to register the demo account using these credentials, respectively.
Alternatively, the trader can fill in the required fields on the application with their First and Last name, email address, a client-selected password, and phone number. After completing this, the trader can click ‘Submit.’ A new page will load, informing the trader of the successful registration of their demo account.
The email will contain the trader’s account credentials and a link to download MetaTrader 4/5 will be provided. Once the trader has downloaded and installed the trading platform, the account credentials they received in the confirmation email must be used to log in from the MetaTrader 4/5 platform to access and start using the demo account.
(Risk Warning: 74 – 89% of retail accounts lose money)
Specific features of the Pepperstone demo account
The Pepperstone demo account is packed with some features that you may not readily get from other online brokers. Some of these are included below:
The Pepperstone demo account trading platform is noted to be user-friendly, and one that traders of all categories can make use of. This is irrespective of the fact whether they are beginner traders or experienced ones.
This is by far one of the biggest innovations in trading. Pepperstone is one of the very few forex brokers that facilitate copy trading. What is even more remarkable is that it allows people who trade demo accounts to also have access to it. Copy trading is a more hands-off approach to trading. It involves applying the trading signals of other (more experienced traders) to your account.
Getting started with the Pepperstone demo account
One of the good things about Pepperstone is it offers clients, even those on demo accounts, the chance to run their trading on their choice of platforms. The options include:
- MetaTrader4 (MT4) — the most popular retail trading platform in the world
- MetaTrader5 (MT5) — the second-generation MetaTrader platform with a range of new and better features.
- cTrader — another fast-growing trading platform that was awarded the Best FX Trading Platform of the year 2018 at the London Summit Awards 2018.
All of these third-party platforms are quite popular and trusted by many. They are available in WebTrader, Desktop Download, and mobile App format. After selecting the platform of your choice, you’ll be taken to a new screen confirming your balance of £50,000 virtual capital with which to trade.
Trading can be a very intimidating task for beginners without prior knowledge, skill, or experience and through the provision of demo accounts, brokers provide a comprehensive and risk-free environment for beginner traders. A demo account is often referred to as a practice account because it provides traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through virtual money to practice.
Beginner traders can use demo accounts to familiarize themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and develop their own trading strategies. Demo accounts are not merely intended only for beginners, but they provide more advanced traders the opportunity to explore what Pepperstone has to offer.
Advantages – Who Should Choose a Pepperstone demo account
The Pepperstone demo account is perfect for two types of people. If you are new to trading and you want to complete a simple registration process and access an account with many great trading features, then a Pepperstone demo account can act as the perfect place for you to learn more before opening a live account. What makes it even more appealing is that you can do so without paying any kind of fees, or risking any of your own funds.
Of course, the account is not only for new traders. If you are considering a move to Pepperstone, a demo account, together with our Pepperstone broker review, is also an ideal way to help you get accustomed to the broker and its features. This should really help you make a final choice when thinking about a new broker. Below, we outline the benefits:
- Fast-tracked learning
The Pepperstone demo account comes packed with educational resources and materials that traders can make use of to boost their experience.
- Practical Learning
We learn best by doing; by practicing. A demo account helps you skip some learning curve by providing a hands-on experience that enables you to gain a better understanding of trading.
Got trading strategies? Or want to try something new? A new market? Demo accounts can be particularly useful when branching out into unfamiliar territory. Whether it is a particular currency pair or an entire asset group such as cryptocurrencies.
- Knowing the broker
A demo account allows you to get to know how your broker works. There are plenty of alternatives and demo accounts are free, so if it’s not a good fit, you can quickly move on. With a Pepperstone demo account, you can properly test Pepperstone as a broker before committing your funds.
Pepperstone demo account features
The Pepperstone demo account features will depend on the trading platform that the trader uses.
In other words, the demo account features can be accessed through the trading platform and will depend on Pepperstone’s offerings with regards to asset classes, financial instruments, spreads, leverage, and so on.
There is the MetaTrader 4 and 5 as well as cTrader and Pepperstone’s proprietary trading platform. To gain access to the demo account, the trader has to download the trading platform to either of the following:
- Desktop – MS Windows, Linux, or Mac OS
- Mobile – Android smartphone or tablet, iOS iPhone, or iPad
Should the trader wish to use the Web Trader for either trading platform, access will be provided from the download page for each trading platform, respectively. As soon as the trader has downloaded their trading platform, they can use the login details provided on the account verification page to log into the trading platform and they will have access to their Pepperstone demo account.
Which live trading accounts does Pepperstone offer?
- Standard account – minimum deposit of AUUS Dollar 200, leverage up to 1:500, zero commissions, and spreads from 1.0 pips.
- Razor account – minimum deposit of AUUS Dollar 200, leverage up to 1:500, US Dollar 3.5 commissions per standard lot, variable spreads from 0.0 pips.
- Edge Swap-Free account – minimum deposit of AUUS Dollar 200, leverage up to 1:500, zero commissions and spreads from 1.0 pips.
- Edge Active Traders – minimum deposit of AUUS Dollar 200, leverage up to 1:500, US Dollar 3.5 commissions per standard lot, variable spreads from 0.0 pips, and 10% rebate.
Restrictions of the Pepperstone demo account
Something you should keep in mind when opening your Pepperstone demo account is that, while the account is accessible to residents of most countries in the world, it cannot be opened by some. The major countries included in this restriction that may impact you are the USA, Canada, New Zealand, and Japan. Most other major countries are available in terms of the Pepperstone demo account.
Opening a Pepperstone demo account can be great for you in many ways. It comes with no risk or cost at all and simulates all of the key features of a regular Pepperstone live account. These features include everything your trading platform has to offer in terms of indicators and professional analysis, as well as full access to leverage capability. This Pepperstone leverage reaches up to 1:200 maximum (30:1 under FCA).
We have to, however, mention one big downside to trading a demo account with Pepperstone. The fact is that the account is only available for a 30-day period. After that, you are expected to have opened a live account. This is far from the best you can get. Many brokers offer traders demo accounts for life.
Conclusion on the Pepperstone demo account
A demo account might be a great way for you to kickstart your trading. To be able to use a demo account, it must be opened with a credible broker such as Pepperstone. While Pepperstone demo account comes with a lot of perks, it also has some heavy limitations.
(Risk Warning: 74 – 89% of retail accounts lose money)