An MT4 demo account lets you trade with virtual money on live market prices — it's free, needs no deposit, and is the best way to learn MetaTrader 4 without risking a cent. The "demo account download" is really two quick steps: download the MT4 platform from a broker, then open a demo inside it. Here's the whole process.
How to open a free MT4 demo account
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Open a demo account
In the desktop terminal, go to
File ▸ Open an Account; on mobile, tap to add an account. Search for your broker, pick a server, and choose Demo Account. -
Set your virtual balance and leverage
Enter your name and email, then choose a starting virtual balance and leverage. The balance is broker-set and often configurable — commonly up to around $100,000.
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Start practising
MT4 funds your demo with virtual money and logs you in. Place trades, test indicators and strategies, and learn the platform with zero financial risk.
A demo is perfect for learning where everything is — orders, charts, indicators — and for testing a strategy's mechanics. Just remember real trading adds costs, slippage, and emotion that a demo can't fully replicate.
How realistic is a demo account?
Demo prices come from the live market, so your charts and technical analysis behave just like a real account. The gaps are execution in fast-moving markets and trading psychology — risking virtual money simply feels different from risking your own. Many traders use a demo to get fluent in MT4, then start live with small size. If you're brand new, read what MT4 is first.
Open a free MT4 demo
XM offers a free MetaTrader 4 demo with virtual funds — practise on desktop, mobile, or WebTrader, with no deposit and no pressure.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
Affiliate disclosure: we may earn a commission if you open a broker account through our links, at no extra cost to you. Learn more.
Next steps
Ready to set up the platform? See MT4 for PC or MT4 for Android. Choosing where to open your account? Compare the best MT4 brokers.
Frequently asked questions
Is an MT4 demo account free?
Yes, completely free. You trade with virtual money and no deposit is required. It's the safest way to learn MetaTrader 4 and test a strategy before risking real funds.
Do MT4 demo accounts expire?
They can. Some brokers close demo accounts after a period of inactivity (for example, no logins for several weeks). If yours lapses, just open a new demo — it takes a minute.
How much virtual money do you get on an MT4 demo?
It's set by the broker and often configurable when you open the demo — commonly anywhere from a few thousand up to around $100,000 in virtual funds.
Is demo trading realistic?
Largely. Demo prices are live market prices, so charts and analysis behave realistically. What differs is execution in fast markets and — most of all — the psychology of risking real money, so treat a demo as practice, not a guarantee.
Can I switch from a demo to a live account?
Yes. Open a live account with the same broker and log in to MT4 with the new live credentials. Your demo can stay open alongside it for testing.
Do I need to deposit money to use a demo?
No. A demo account needs no deposit. You only fund an account when you choose to open a live one and trade with real money.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.