Pepperstone is an Australia-based broker that’s extremely popular among Forex traders for its trading conditions and high speed of order execution. Demo accounts provided by the broker are a particular feature that attracts many beginners, allowing them to learn trading without risking real money. In this article, we explain how these accounts work, why you should consider signing up, and how to actually begin trading on the platform.
What is Pepperstone
Pepperstone is an international broker that offers its clients several hundreds of trading instruments: a variety of CFDs on stocks, indices, and commodities as well as Forex pairs and cryptocurrencies. The broker is heavily regulated by numerous major financial institutions like ASIC, FCA, and CySEC. That means you can definitely trust it with your money. But what if you don’t feel like trading with real funds and want to practice a bit instead? That’s where a Pepperstone Demo account may come in handy.
Demo accounts explained
Demo accounts provided by the broker allow you to trade on a real market with virtual money without taking on any risk. Just sign up for a free Demo account, and Pepperstone will grant you 50.000 USD to practice with. The broker also provides you with all kinds of educational materials about the basics of Forex trading, and you can learn a lot about technical and fundamental analysis this way. Just don’t forget to try out new things, that’s what Demo accounts are for.
Demo accounts offered by the broker allows you choose between popular trading platforms like MT4, MT5, or cTrader. That means you can get used to their interface early on. Any practice account works for 30 days, but you can send a request to add another 30 days period or make yours permanent. An experienced trader can also benefit from using a Demo account since it can be used to test advanced strategies without messing with your main portfolio.
How to open an account
Pepperstone aims to make the process as user-friendly as possible. If you don’t have an account, go to the official website and create one: you need just a working email address for that. You’ll probably have to verify your account as well by providing a copy of your ID or another document. However, it’s possible to avoid this verification by sticking to your Demo account. You can always upload your docs later, when you decide to start trading with actual money.