Practise Forex and CFD Trading on MetaTrader 5 With Virtual Funds
Open a free forex demo account in New Zealand with Ace Markets and practise trading on MetaTrader 5 using virtual funds. Explore Forex and CFD markets, charts, order types, position sizing and risk-management tools before deciding whether to apply for a live trading account.
A demo account gives you access to a simulated trading environment where you can learn how MetaTrader 5 works, become familiar with market movements and practise placing trades without putting real capital at risk.
You can use your demo trading account to explore available currency pairs, metals, indices and energy markets, while learning how to set stop-loss and take-profit levels, monitor margin and manage open positions.
Ace Markets Limited is a New Zealand licensed derivatives issuer. Complete the form below and your demo account login details will be sent to you by email.
Demo trading is simulated and may differ from live trading. Results achieved using virtual funds do not guarantee future trading results.
After completing the above form, explore our platform and tools, and download your preferred platform to get started.
What Is a Forex Demo Account?
A forex demo account is a simulated trading account that allows you to practise using a trading platform with virtual funds instead of real money.
It is designed to help you understand how Forex and CFD trading works, learn how to navigate the platform and test a trading process before deciding whether live trading is appropriate for you.
A demo account is sometimes also called a forex practice account, virtual trading account, paper trading account or trading simulator.
With an Ace Markets demo account, you can explore MetaTrader 5, follow market prices, open and close simulated positions and practise using the platform’s trading and analysis tools.
What Can You Practise With a Forex Demo Account?
Your demo account can be used to practise many of the same platform functions available when trading live.
You can:
- Navigate the MetaTrader 5 platform
- Build a watchlist of Forex and CFD markets
- Open and close simulated trades
- Practise market and pending orders
- Set stop-loss and take-profit levels
- Adjust trade volume and position size
- Monitor balance, equity and available margin
- Review your trading history
- Use technical indicators and drawing tools
- Compare different chart timeframes
- Test a defined trading strategy
- Learn how economic announcements can affect markets
Using a structured practice routine can help you become more familiar with the platform and identify mistakes before real capital is involved.
How to Open Your Free MT5 Demo Account
1. Complete the Registration Form
Enter your details in the demo account form above and submit your request.
Opening a demo account does not require you to deposit real money or place live trades.
2. Receive Your Demo Login Details
After registering, Ace Markets will email the details required to access your demo trading account.
Your email will contain the login information needed to connect to the correct MetaTrader 5 trading server.
3. Access MetaTrader 5
Open MetaTrader 5 using a supported desktop, web or mobile platform.
MetaTrader 5 is available for compatible Windows computers, web browsers, Android devices and Apple iOS devices.
4. Log In and Begin Practising
Enter the login details supplied by Ace Markets and connect to the demo trading environment.
You can then explore available markets, open charts, create a watchlist and begin placing simulated trades using virtual funds.
Practise Trading on MetaTrader 5
MetaTrader 5, commonly known as MT5, is a trading platform used to analyse markets and manage trading positions.
An MT5 demo account allows you to learn how the platform works before deciding whether to trade with real money.
You can use MT5 to:
- View live or simulated market pricing
- Open multiple chart timeframes
- Add technical indicators
- Draw trend lines and price levels
- Create customised market watchlists
- Place market and pending orders
- Set stop-loss and take-profit instructions
- Monitor open positions
- Review your account history
- Save chart templates
- Explore Expert Advisors and automated trading tools
Start by learning where to find Market Watch, charts, the order window, open positions, account history, balance, equity and margin information.
Explore Forex and CFD Markets
Your Ace Markets demo account can be used to explore available Forex and CFD instruments through MetaTrader 5.
The exact instruments available may depend on the demo account settings, but market categories may include:
Forex Currency Pairs
Explore major and minor currency pairs such as EUR/USD, GBP/USD, AUD/USD, NZD/USD and USD/JPY, where available.
A demo account can help you compare how different currency pairs move and how market volatility changes throughout the trading day.
Gold and Silver
Practise monitoring precious metals such as gold and silver, where available.
Gold is commonly displayed as XAU/USD, while silver is commonly displayed as XAG/USD. These markets can experience significant price movement around economic announcements, changes in interest-rate expectations and major international events.
Global Indices
Explore available index CFDs and observe how major share markets respond to company results, economic information and changes in investor sentiment.
Energy Markets
Available energy CFDs may include markets linked to oil or natural gas. Energy prices can be affected by global supply, demand, production decisions and geopolitical developments.
Check MetaTrader 5 after logging in to confirm which instruments are available within your demo account.
Using a Forex Demo Account in New Zealand
A forex demo account can help New Zealand traders understand how international market sessions align with New Zealand time.
Forex markets operate across several major global trading sessions, including the Asia-Pacific, London and New York sessions. Market activity and volatility can vary depending on which financial centres are open.
New Zealand traders can also use a demo account to observe how the New Zealand dollar responds to:
- Reserve Bank of New Zealand interest-rate decisions
- Official Cash Rate announcements
- New Zealand inflation data
- Employment figures
- Economic growth reports
- Business and consumer confidence
- Changes in commodity prices
- Movements in the United States dollar
- Global risk sentiment
NZD/USD is one of the main currency pairs associated with the New Zealand dollar. A demo account gives you a way to monitor its movements and practise your trading process without putting real money at risk.
What Should You Practise Before Trading Live?
Rather than placing random trades, use your demo account to develop a repeatable process.
Before entering a simulated position, record:
- The market you are trading
- The reason for entering
- Your intended entry price
- Your stop-loss level
- Your take-profit level
- Your trade volume
- The amount you are prepared to risk
- The conditions that would cause you to exit
After closing the position, review whether you followed your original plan.
A trading journal can help you identify repeated mistakes, inconsistent position sizing and situations where you did not follow your own rules.
The objective of a demo account should be to develop familiarity and consistency rather than simply trying to produce the largest possible virtual profit.
Forex Demo Account Versus a Live Account
A demo account and a live trading account serve different purposes.
A demo account uses virtual funds and operates in a simulated environment. It can be used to learn the platform, practise placing orders and test a trading process without experiencing a real financial gain or loss.
A live account uses real money. Profits and losses directly affect your account balance, and your trades are exposed to live market liquidity, execution, spreads, slippage and trading costs.
Demo trading may also feel easier because there is no real financial pressure. Decisions can become more difficult when actual money is at risk.
Important differences include:
Demo account:
- Uses virtual funds
- No real financial loss from demo trades
- Simulated trading environment
- Useful for platform practice
- Useful for testing a trading routine
- Less emotional pressure
- Results cannot be withdrawn
Live account:
- Uses real deposited funds
- Capital is exposed to loss
- Subject to live market conditions
- Trading costs and current account terms apply
- Slippage and execution differences may occur
- Decisions can involve greater emotional pressure
- Profits and losses affect your real balance
Successful demo trading does not guarantee successful live trading.
How Long Should You Use a Demo Account?
There is no single period that is suitable for every trader.
Continue using your demo account until you can confidently navigate MetaTrader 5, understand the main order types and follow a defined trading process without repeatedly making basic platform errors.
Before considering live trading, you should be able to:
- Place and modify an order correctly
- Understand trade volume and position size
- Set a stop-loss and take-profit
- Monitor balance, equity and margin
- Explain why you entered each trade
- Follow a consistent risk limit
- Maintain a trading journal
- Review both profitable and losing trades
- Understand that losses are a normal possibility
The amount of time spent using a demo account is less important than the quality and consistency of your practice.
Why Open an Ace Markets Demo Account?
Ace Markets provides New Zealand traders with access to MetaTrader 5 and a range of available Forex and CFD markets.
Ace Markets Limited is licensed by the New Zealand Financial Markets Authority as a derivatives issuer and is registered under Financial Service Provider number FSP703051.
With an Ace Markets demo account, you can:
- Practise on MetaTrader 5
- Use virtual rather than real funds
- Explore available Forex and CFD markets
- Learn platform navigation and order management
- Practise position sizing and risk controls
- Access supported desktop, web and mobile platforms
- Receive assistance from the Ace Markets support team
- Review product and risk documentation before considering live trading
Ace Markets provides an execution-only service. You remain responsible for your trading decisions and for determining whether Forex and CFD trading is appropriate for your circumstances.
Forex Demo Account New Zealand FAQs
Is the Ace Markets forex demo account free?
Yes. You can request an Ace Markets forex demo account without depositing real money. The account uses virtual funds within a simulated trading environment.
Do I need to open a live account first?
You can request a demo account using the registration form on this page. Applying for a live trading account involves a separate application and onboarding process.
Does a forex demo account use real money?
No. A demo account uses virtual funds. Any profit or loss shown within the demo account is simulated and cannot be deposited or withdrawn as real money.
Which trading platform does the demo account use?
The Ace Markets demo account uses MetaTrader 5. MT5 provides charts, technical indicators, multiple order types, position-management tools and account-history information.
Can I use the demo account on my phone?
MetaTrader 5 supports compatible Android and Apple iOS devices. It can also be accessed through supported desktop and web platforms.
Can I practise trading NZD/USD?
NZD/USD is among the Forex markets offered by Ace Markets. Check the instruments shown in MetaTrader 5 after logging in to confirm availability within your demo environment.
Which other markets can I explore?
Available market categories may include Forex currency pairs, metals, global indices and energy CFDs. Exact instruments may vary depending on the demo account setup.
How will I receive my login details?
After submitting the demo registration form, your account access details will be sent to the email address you provide. Check your inbox and junk or spam folder if the message does not appear.
Can I open more than one demo account?
Demo account availability, renewal and replacement arrangements may change. Contact Ace Markets support if you need another account or require your virtual balance to be reset.
Can I use technical indicators?
Yes. MetaTrader 5 includes a range of technical indicators, drawing tools and chart timeframes that can be explored within the demo environment.
Can I test Expert Advisors?
MetaTrader 5 supports Expert Advisors and automated trading functionality. Availability can depend on your platform and account settings.
Is demo trading the same as live trading?
No. Demo trading uses virtual funds and simulated execution. Live trading uses real money and is affected by actual liquidity, spreads, slippage, trading costs, market execution and emotional pressure.
Does demo performance predict live results?
No. Results achieved in a simulated trading environment do not guarantee future results or indicate that the same outcome will occur when trading with real money.
Is Ace Markets regulated in New Zealand?
Ace Markets Limited is licensed by the Financial Markets Authority as a derivatives issuer and is registered under Financial Service Provider number FSP703051.
Does Ace Markets provide financial advice?
Ace Markets provides an execution-only trading service and general information. It does not provide personal financial advice based on your individual objectives, financial situation or needs.
Open Your Free Forex Demo Account in New Zealand
Complete the registration form above to request your free Ace Markets MT5 demo account.
Once you receive your login details, you can access MetaTrader 5, explore available Forex and CFD markets and begin practising with virtual funds.
Demo trading is simulated and may differ from live trading. CFDs are leveraged products and involve a high level of risk. Before applying for a live account, read the current Product Disclosure Statement, Risk Disclosure Statement, Client Services Agreement and other legal documents.
The information on this page is general in nature and does not take into account your objectives, financial situation or needs.