Once your demo login works, practise one task from plan to recorded result. Use virtual funds to check the contract, calculate volume, submit an order and reconcile its fills and charges. A profitable demo result is not proof of live readiness. The separate account-opening guide covers registration and terminal access.

What is a demo account and what should you realistically expect from it?

A demo is a simulation using virtual capital. It can help you learn order handling and test a defined rule. Quote sources, available symbols, charges and expiry depend on the provider and server. Do not assume that every demo fills perfectly, has all live costs, remains available forever or requires no identification.

There is no compulsory number of clicks or trades that establishes competence. The result of this exercise is an explanation you can reproduce, even if the simulated position loses.

Where should you open a demo account and which platforms should you test?

Use the official application or site and confirm the demo mode, server and account currency. In MT5 for Android, the documented flow selects an account server and the demo option, then specifies the offered account parameters. Other platforms have different flows. Demo access does not establish permission to open a live account; check the entity and residence using the regulation overview.

What starting balance should you choose?

Choose a virtual balance that makes your intended calculation meaningful. A large balance is not inherently wrong; copying its position size to a smaller account can be. Record the account currency and contract size rather than treating EUR, USD and PLN balances as interchangeable.

For a hypothetical $1,500 account, an assigned 1% calculation budget is $15. This is an exercise assumption, not a recommended funding amount or risk level.

In a first demo exercise, inspect the account state before closing the position. For a hypothetical purchase of 12,000 EUR, an entry Ask of 1.1002 and current Bid of 1.1000 give 12,000 × (−0.0002) = −2.40 USD, or −9.60 PLN at the model's assumed conversion rate.

Worked example

Checks just after opening a demo position

Scroll sideways to see the full diagram

Checks just after opening a demo positionA hypothetical demo account has a 10,000 PLN balance, an unrealised price loss of 9.60 PLN, equity of 9,990.40 PLN, margin of 100 PLN and free margin of 9,890.40 PLN.Balance: 10,000.00 PLNUnrealised price P/L: −9.60 PLNEquity: 9,990.40 PLNBalance + unrealised P/LFree margin: 9,890.40 PLNEquity − 100.00 PLN margin100 PLN margin is not a separate loss.

Model assumptions. Demo account; 0.12 lots × 100,000 EUR per lot. Buy at Ask 1.1002, current Bid 1.1000 USD/EUR; fixed USD/PLN = 4. Margin of 100 PLN is assigned for the exercise. There is no credit, commission, swap or other blocked amount. The spread is already included in the prices.

Two separate effects: unrealised P/L changes equity; reserved margin changes free margin. Do not subtract margin from the trade's P/L.

Check these fields separately in the platform and later in the history. The MT5 documentation includes credit, commission and blocked amounts in its full equity formula; this simplified model assumes they are absent. If your demo charges fees, follow its actual accounting instead of forcing identical figures.

What should you actually practise?

  1. Save units per lot, pip size, minimum volume and step.
  2. Write the intended direction, exit condition and planned loss calculation.
  3. Check the symbol and volume before submission; read the order status before repeating a request.
  4. Inspect balance, equity, required margin and free margin separately.
  5. After closing, reconstruct the price result and separate charges from the history.
  6. Record omissions and unexpected outcomes rather than resetting the balance to conceal them.
  7. Repeat with one changed assumption to test understanding.

Assume a 10,000 PLN demo, a 100 PLN calculation budget, a 20-pip distance and 40 PLN per pip per standard lot. Continuous volume is 100 ÷ (20 × 40) = 0.125 lot. With a minimum and step of 0.01, rounding down gives 0.12 lot and a 96 PLN planned price loss before costs and fill differences. The contract and conversion values are assigned, not live quotes.

What can a demo never replicate and when does the simulation break down?

A demo does not put your deposited trading funds at risk. Its execution model may differ from the live account, and personal reactions can differ too. Neither a positive balance nor a recorded emotional score proves future performance. A cent account still risks real funds; its name alone does not guarantee a small percentage exposure.

What to do tomorrow: your first practice sequence?

Prepare the specification, perform one controlled demo exercise and save the history. Check whether a repeated request created another execution rather than assuming it replaced the first. Under identical modeled conditions, two fully filled purchases of 0.12 lot total 0.24 lot and double the price sensitivity.

Reconcile the result before changing a strategy. If a field remains unexplained, make it the next task. You need not generate ten trades a day or move to live after a fixed number of weeks.

Related guides: opening a demo, demo versus live, review before live, MT4 versus MT5 and keeping a journal.