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Home / Guides / Start here / Demo or Sim account
Guide · Start here · about 15 minutes

Set up a free demo or Sim account.Practice with pretend money.

By the end, you have a practice account on the platform you use, labelled as demo or Sim, with your login saved safely. A demo or Sim account can't spend real money. Take your time.

~15 minstart to finish
6 stepstick each one off
Pretend moneydemo or Sim only
Freeno deposit needed
✓
You can't lose real money doing this.

A demo or Sim account is practice only. Opening one is not the same as opening a live account, and no money moves. If a step doesn't look like the picture, that's normal: open the "Not seeing it?" box under it.

0

Before you start

Three quick things. Tick them as you go.

Words you'll see. Demo and Sim both mean practice with pretend money. Login = the account number and password that open it.
1

Pick your route

It depends on the platform.

  1. NinjaTrader 8: go to step 2 and check for Sim101. It's already there.
  2. MetaTrader 5: you open a demo account with a broker. Go to step 2.
  • Sim101 is included with NinjaTrader 8.
  • Demo accounts in MetaTrader 5 come from the broker you choose.
Not sure which? Open the which tool should I use guide first.
Not seeing it?

I don't have NinjaTrader yet. The NinjaTrader start guide covers installing it and finding Sim101.

My broker doesn't offer demos. Ask the broker, or try a different one for practice. Any demo must be a demo, not a live account.

2

Open the account

NinjaTrader is ready. MetaTrader needs a short form.

  1. NinjaTrader 8: open the Control Center, then the Accounts tab. Look for Sim101 in Display name.
  2. MetaTrader 5: choose File → Open an Account, pick a broker, then choose the demo option.
  3. Fill in the form with your own details. Choose the demo option, not the live one.
Menu names can differ. Brokers and versions word things a little differently. Look for the word demo.
Not seeing it?

I can't find File → Open an Account. Some versions show it as a button on the Navigator panel. Look for the word Open an Account.

The form asks for a live account only. Go back and choose the demo option. Don't continue with a live account while you are learning.

I don't see Sim101. Make sure you connected in the NinjaTrader start guide, then check the Display name column.

3

Save your login safely

Keep it private, and keep it somewhere you can find it.

  1. Copy the login details the broker shows you: the account number, password and server name.
  2. Save them in a password manager, or somewhere only you can open.
  3. Don't post them in a screenshot, a chat or a shared note.
Why this matters. Anyone with your login can open the account. A password manager keeps it private and easy to find again.
Not seeing it?

I didn't write the password down. Check the email from the broker, or log in again to the demo area and reset it.

I can't remember the server name. It is shown with the login in the broker's email. Copy it exactly.

4

Check it is pretend money

Look at the label before you do anything.

  1. In NinjaTrader, the account is named Sim101 and labelled as Sim.
  2. In MetaTrader 5, look at the account name in the Navigator. A demo account is labelled demo.
  3. If the account says live, stop and check the label again before you go on.
Demo accounts can expire. Brokers often end a demo after a set number of days. The broker tells you when, and you can usually open another.
Not seeing it?

The account says live. Don't trade on it. Close it and open the demo option from step 2.

My demo has stopped working. It may have expired. Open a new demo account with the broker.

5

Know your next step

Practise with a tool on this account.

Well done! You have a practice account. Use it until a tool does what you expect.
Your safety nets

Three ways to stay safe.Always available.

Demo and Sim accounts can't spend real money. These habits keep it that way.

1

Check the label

Before any action, look for demo or Sim. Live accounts look different, and that is your cue to stop.

2

Keep logins private

Store them in a password manager. Never share them, and never put them in a screenshot.

3

Open a live account on purpose

A live account is a separate step, with the broker, when you decide. Opening a demo never does it for you.

!

Before you ever use a real account

Practice results aren't real results. Fills, delays and costs differ with real money. Trade small and read your broker's own rules first.

All done

Your practice account is ready.Nicely done.

Next: add one tool and try it on the practice account.

Next: set up PFX SLM →All guides →

Risk warning: Futures trading carries a high risk of loss and is not suitable for everyone. Demo and Sim results are not a guide to real results. NinjaTrader is a registered trademark of NinjaTrader Group, LLC; MetaTrader is a trademark of MetaQuotes Ltd. PrecisionFX is not affiliated with or endorsed by either.