In this article we will look at how you can open and use a demo account with eToro, the world’s largest social trading broker with over 4.5 million registered users, where you can trade stocks, currencies, indices and commodities or find other experienced traders, follow them and copy their trades to profit from their knowledge and winning strategies.
eToro provides its users with a web-based trading platform. Previously, to use a demo account, when logging in you had to select whether you wanted to trade in Demo or Live but this has changed with eToro’s new platform (available since August 2015). The demo account has also gone from offering a virtual balance of $8,000 to $100,000. With this demo you can learn how to use the eToro platform (either to make your own trades or to copy other traders) with the same conditions as the live account but without putting your money at risk.
In addition, eToro ‘s new trading platform offers an improved design, is more intuitive, is faster and has the advantage that the manual trading and social trading parts are unified and available on the same platform, which was not the case with the previous version.
How do I open a demo account with eToro?
1- Access the registration form by CLICKING HERE.
(*) Risk warning: 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford the high risk of losing your money.
2- Fill in the information on the form. You need to create a username and password that will allow you to access the platform from now on and indicate your email address. No other personal or bank details are required to use the eToro demo.
3- Once you have filled in your details and clicked on the “Create Account” button , you will have free access to the eToro trading platform.
4- By default it usually starts in Real mode. To switch to Demo mode, click on the down arrow icon to the right of “Trade” in the menu on the left.
This will allow you to switch between the real account (real portfolio) and the eToro demo account (virtual portfolio) at any time.
When you click on “Virtual Portfolio” you will receive the following confirmation message. Click on “Go to virtual portfolio” and you will be in demo mode.
As you can see at the bottom of the “Portfolio” section, you have an available virtual balance of $100,000 with which you can test trade as much as you need before opening a live account.
5- There are 2 ways to start trading on the eToro demo account:
a) Go to the “Trade Markets” section to manually trade any of the financial assets available on eToro such as ETF’s (exchange traded funds), stocks (categorised by industry or exchange), cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Cardano, IOTA, Stellar,…) stock indices, commodities or major currency pairs on the Forex market.
b) Go to the “Copy People” section to locate, follow and copy other traders. You can use the search tools and filters to find those who best fit your criteria (by country, those who invest in a certain type of financial instrument, those who have a certain percentage of profit, by seniority, by number of copiers, by consecutive months of profit, by risk level,…).
6- Once you have familiarised yourself with the platform on the eToro demo account and are ready to start trading with real money, we recommend that you first complete your profile by clicking on the corresponding button on the top left hand side. It is advisable to do this step first before depositing funds so that your account is fully verified from the outset. This is a series of simple steps where you must provide your personal details, your trading experience and provide proof of identity (photograph or scanned image of your ID, passport or driving licence). This verification is common for regulated brokers in order to comply with security regulations. Once your account is verified the next step is to deposit funds (the minimum deposit at eToro is $200) and you can do this via credit or debit card, bank transfer, Paypal, Skrill, Neteller,…
Please send us your experience with the eToro demo account via the comments section at the bottom of this page. Regards.