USING DEMO ACCOUNTS FOR TESTING THE EXPERT4X LINKED SERVICE

Reasons for the need for demo accounts initially

When joining the Linked Service for the first time there is a lot to learn about how the service works and about, for instance, things like slippage and using the settings correctly.

When doing the 14 day trial the intention is to use that time to learn how the service works and to learn how to manage your linked accounts. So it is best to do this using a demo account initially and then when you are confident to move to live cent accounts or other live accounts.

The linked service allows you to use any Forex broker you wish as long as it offers the MetaTrader Platform. There is however certain areas of Broker account alignment that needs to occur and portfolio management training that needs to happen.

Broker account alignment revolves around the fact that certain brokers may call their trading instruments different names (The NAS100 is often called the US100 for instance) and the Brokers may calibrate their instruments differently regarding spreads, pip values and margin requirements. 80% to 90% of Brokers are aligned so you need to make sure yours is.

The other area to check is to make sure that when the Signal Sender is reporting, for instance, a $10.00 gain on a transaction that you are experiencing more or less the same amounts. This is called Slippage Management.

How Many Demo Accounts to Open ?

There are basically 2 options for Linked account trading. In General you will need $10 000 for every account you linked to. Initially you will get access to 3 accounts but more links can be purchased.

So you can open individual accounts of $10 000 each. This will help you focus on the instruments traded in those accounts better but also give you very accurate trading results. This is often to preferred option.

Alternatively if you are linking to 3 linked accounts you can open one big demo account with $30 000 or higher. That will provide the same amount of capital for each linked account, however to tell the true profitability of each linked account maybe more difficult and open trades will be grouped together, even if different Receiver Robot magic numbers are used.

Selection your Demo Accounts

With the view that you will eventually be using a live account to participate in the service consider the following:

1. Use a demo account of the broker you intend to use for your live account. That will provide the best opportunity to test the service for the items mentioned above.
2. If you are going to start using cent accounts as your live accounts you may as well use the live accounts with conservative settings to do your initial tests

Preferred Broker Accounts