Exness Review
FXChoice Demo Account
Yes, FXChoice does offer a demo account. FXChoice is considered low-risk, with an overall rating of 7 out of 10. FXChoice offers 2 different retail investor accounts and demo and Islamic accounts. FXChoice has a minimum deposit of 1 338 BWP ($100).
- Lesche Duvenage
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Account Types Overview
Account Types
How to Open A Demo Account
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.1/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FXChoice Demo Account – 5 key points quick overview:
How to set up an FXChoice Demo Account – Step by Step
👉 To register for, and set up a demo account with FXChoice, traders must visit the website and follow the simple steps. New accounts are applied online and processed according to established industry standards.
👉 FXChoice accounts can be opened in USD, ZAR, EUR, AUD, CAD, Bitcoin, and other cryptos. An account verification process is usually mandatory due to regulatory requirements, so keep a copy of your ID and a proof of residency document ready for the last step.
👉 Follow these steps to open an FXChoice demo account:
👉 Step 1 – Navigate to the FXChoice website
➡️ The first step in registering for an FXChoice demo account involves traders navigating to the FXChoice website, and clicking on “Accounts” and “demo account” to proceed.
👉 Step 2 – Select desired trading platform
➡️ The second step requires the trader to select the desired FXChoice demo account platform on which they would like to trade.
👉 Step 3 – Fill out the FXChoice registration
➡️ The third step in the registration process requires traders to fill in their: name, email address, and password.
➡️ Click ‘next’ to proceed.
👉 Step 4 – FXChoice telephone confirmation
➡️ The fourth step in the demo account registration process requires traders to fill in their country of residence and cellphone number to obtain verification through an OTP (one-time pin).
👉 Step 5 – Fill in the OTP code
➡️ Traders must fill in the OTP code received through SMS, click next to proceed.
👉 Step 6 – FXChoice Demo account Registration Complete
➡️ Follow the FXChoice KYC process to obtain login demo account details.
FXChoice Demo Account Features
👉 A trader can easily simulate a live trading environment on a demo account without putting their money at risk. Botswanans can start risk-free online trading immediately and experiment before making actual investments.
👉 To get used to trading on the forex market, their broker, and trading software, all Botswanan traders should create a demo account as their first forex account.
👉 In addition to many other appealing features, it enables traders to practice their trading skills. The FXChoice demo account also shields Botswanan traders from risking their own money while allowing them to choose to go to the open markets.
👉 Botswanans can trial MetaTrader 4 or 5 on a mobile device, a desktop computer, or the web using one of four distinct account levels. Additionally, traders from Botswana can utilize the variety of trading instruments that FXChoice provides.
FXChoice Kenya Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXChoice offers some commission-free options | FXChoice is not currently overseen by strict market regulators such as FCA, ASIC, FSCA, or others |
| Muslim traders can convert their live account with FXChoice into an Islamic Account | The educational section is limited |
| FXChoice offers a maximum of 20 demo accounts that can be opened | There is a lack of comprehensive market analysis |
| FXChoice has a superior customer support | |
| Botswanans can use any trading style and strategy, including hedging, EAs, and scalping | |
| Botswanans can deposit and withdraw in BWP using local and flexible options | |
| Eligible Botswanan traders have access to VPS | |
| FXChoice offers user-friendly solutions to all traders |
Verdict on FXChoice
👉 Overall, FXChoice is very competitive in terms of its trading fees and spreads.
FAQ
Who can register an FXChoice demo account?
Regardless of their skill level or trading style, anyone can register an FXChoice demo on either MT4 or MT5.
Will my own funds be used to finance the demo account?
No, none of your own capital is at risk when you use the FXChoice demo account.
How long can I use the FXChoice demo account?
The FXChoice demo account is available for an unlimited time if you continuously use it.
What is the turnaround time on FXChoice’s demo account approval?
The practice account is approved once your information has been processed. Depending on your Internet connection, this is within minutes or seconds.
How do I top up my FXChoice demo account?
You can reset the balance in your client portal under the relevant demo account.
