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Russia-based forex brokerage Alpari said on Wednesday it will discontinue support for demo.nano.mt4 trading accounts. As of 28 March, 2016, all such account will be deleted.
The broker did not explain its motives for the change.
Demo accounts are used for practicing trading. Unlike live accounts, demo accounts do not operate with real money and investors can learn to trade without risking their funds.
Alpari has been optimizing its account portfolio in the recent past. Last month it launched two new type of Electronic Communication Network (ECN) trading accounts for the MetaTrader 5 (MT5) trading platform – ecn.mt5 and pamm.ecn.mt5. Prior to that it renamed some of its existing accounts.
The broker offers several types of trading accounts – nano.mt4, standard.mt4, ecn.mt4, pro.ecn.mt4, in addition to pamm.standard.mt4, pamm.ecn.mt4, and pamm.pro.ecn.mt4 for the MetaTrader 4 (MT4) platform, as well as and ecn.mt5 and pamm.ecn.mt5 for MT5. Alpari also offers alpari.binary, a type of trading account specifically designed for binary options, which was also launched recently.
Take a look at the trading conditions of some of Alpari’s accounts:
Late 2015, Alpari said it would discontinue both live and demo nano accounts, which are a type of cent account in which all financial parameters, including deposits, profits and losses, are measured in cents. At the time, however, the broker said it would close all nano accounts in the beginning of December 2015.
Alpari provides trading services and its portfolio covers a number of tradable instruments, including forex, metals, contracts for difference (CFDs), and binary options via the trading platforms MT4, MT5, and BinaryTrader.
The brokerage has offices in Russia, Saint Vincent and the Grenadines, Mauritius, and the UAE. The group companies are registered with and regulated by the relevant authorities in Belize and Mauritius. It is the largest forex broker in Russia in terms of both active accounts and trading volumes.
The brokerage has also applied through Alpari Forex for a license in Russia. It is also a member of the Russian self-regulatory organization Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) and external dispute resolution (EDR) organization Financial Commission (FinaCom).