Opening an MT4 Demo
While it is not absolutely required to use the Calculator with an MT4 platform, there is great benefit to doing so, because MT4 is the best way for the Calculator to keep up to date with current pip values on all forex pairs because MT4 offers free DDE data.
1 – Download the MT4 software
There are many brokers who offer MT4. Remember: You don’t have to open an account with anyone, nor do you even have to give them your actual name, email or phone. Feel free to use made up information in the sections that ask for it.
Here is a very partial list of brokers you can look to for an MT4. (This is not an endorsement of anyone, btw – just for your convenience.) Some brokers let you download the software directly, others ask for your info first then send you an email with the link…
2 – Choose OPEN AN ACCOUNT
From the File menu of the new MT4, choose Open an Account
3 – Pick a demo server
The broker you picked may have several practice and live servers. Start by picking the demo or practice server with the lowest Ping setting (i.e. fastest delivery time). If that doesn’t work, come back to this dialog and try another server.
4 – Select: New Demo Account
The next dialog will ask which kind of account you are opening. Choose New demo account.
5 – Fill in some information
Again… remember that you don’t really need to use your real info here. That’s up to you. But it will work just fine to use made-up info if you like.
You have to click ☑️ next to the I agree to subscribe to your newsletters before the button to move to the next screen becomes available. Most brokers don’t actually send out emails, and if they do you can unsubscribe or block them later.
6 – Note your login
This often takes a moment or two to complete. The green bar is a progress bar, so give it time to register and finish. When it has you will see you login code and password. The program will generally do a great job of remembering these for you, but it never hurts to take note of them as well, or take a screenshot of this final page. You can also find this info within the MT4 platform under the Mailbox tab at the bottom > New Account Registration.
That’s it – you’re done.