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Forex demo accounts are free practice accounts for new traders. Think of them like flight simulators for new pilots. Like a flight simulator, you can make all kinds of mistakes without any consequences – except for maybe a bruised ego and the realisation that you have a lot to learn. Demo accounts are always free, but some are better than others. Most traders with a demo account will go on to open a live account with the same broker. 

To test these demo accounts, we set up the trading software, read the educational material, traded away all of the virtual money we were given, and used the customer service teams to help get us started. While trading with these brokers, we rate the quality of their financial regulation, trading platform choice and read the fine print to get a grasp of the trading conditions should a novice trader want to open a live trading account. These are the best demo trading accounts in the UK for 2021, according to our testing and our research.

English

Best Forex Demo Accounts 2021

Last updated on 17 May 2021
Updated 17 May 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
AvaTrade
Min. Deposit
GBP 100
4.484.48
Demo Account
Beginner Course
Webinars
Support Hours
24/5
Overall Rating
4.48/5
AlertAccepts UK Clients. Average spread EUR/USD 0.9 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA. 72% of traders lose money with this provider.
2
XM
Min. Deposit
GBP 5
4.384.38
Demo Account
Beginner Course
Webinars
Support Hours
24/5
Overall Rating
4.38/5
AlertAccepts UK Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC. 77.19% of traders lose money with this provider.
3
Pepperstone
Min. Deposit
GBP 5
4.614.61
Demo Account
Beginner Course
Webinars
Support Hours
24/7
Overall Rating
4.61/5
AlertAccepts UK Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA. 79.3% of traders lose money with this provider.
4
IC Markets
Min. Deposit
GBP 200
4.464.46
Demo Account
Beginner Course
Webinars
Support Hours
24/7
Overall Rating
4.46/5
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
5
MarketsX
Min. Deposit
GBP 250
4.494.49
Demo Account
Beginner Course
Webinars
Support Hours
24/5
Overall Rating
4.49/5
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA. 74.93% of traders lose money with this provider.
6
Plus500
Min. Deposit
GBP 100
4.094.09
Demo Account
Beginner Course
Webinars
Support Hours
24/7
Overall Rating
4.09/5
AlertAccepts UK Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Cryptocurrency availability subject to regulation. Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. All information presented is verified as of the date of the review. 76.4% of traders lose money with this provider.
7
easyMarkets
Min. Deposit
GBP 25
3.983.98
Demo Account
Beginner Course
Webinars
Support Hours
24/5
Overall Rating
3.98/5
AlertAccepts UK Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & the proprietary easyMarkets platform are supported. easyMarkets is regulated by CySEC, ASIC, and the FSA in Seychelles. 73% of traders lose money with this provider.
8
FP Markets
Min. Deposit
GBP 100
4.234.23
Demo Account
Beginner Course
Webinars
Support Hours
24/5
Overall Rating
4.23/5
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.
9
BDSwiss
Min. Deposit
GBP 100
4.324.32
Demo Account
Beginner Course
Webinars
Support Hours
24/5
Overall Rating
4.32/5
AlertAccepts UK Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.*Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

How to compare demo accounts

A demo account trading account is a risk-free setup for beginners and experienced traders equally. While beginner traders will use this account type to test trading platforms and learn how trading works, experienced traders will use a demo account for testing new strategies without the risk of losing capital. To compare demo accounts, consider the following:

Free Education: Any legitimate demo account will be free. A reliable broker will never charge for opening a demo account and will often provide free learning material to get you started. Structured trading courses complemented by top-quality market analysis by in-house analytics teams are a great addition to any demo account.

Trading platform: The first thing a beginner trader will learn is how to manage the trading platform. Learning Forex strategy is complex enough, so before trading any real money, invest the time in finding a trading platform you are comfortable operating. 

Customer service: Demo accounts are mainly used by beginners, and beginners often need customer service support. While customer service hours vary between brokers, the evening and weekend opening hours will affect when you can get the support you need and fit your learning into a busy schedule.


Best Forex demo accounts for 2021

AvaTrade – Best Mobile Demo Account

The free demo account is available on AvaTrade’s webtrader platform, MT4, MT5 and its mobile app, AvaTradeGO. Clients can trade over 1250 instruments, including Forex, cryptocurrency, stocks, commodities, and indices. Voted the best Forex Trading App 2020, AvaTradeGO offers a sophisticated dashboard, complete with a set of intuitive management tools, clear zoomable charts, and many more helpful features.

AvaTrade offers a library of educational material, tools and analysis to assist clients in finding the best trading opportunities. The demo account includes a 100,000 USD balance that expires after 21 days. If you are not ready to open a live account after this time, contact the customer service team and extend it. Customer support is available 24/5.

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts UK Clients. Average spread EUR/USD 0.9 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA. 72% of traders lose money with this provider.

XM – Best MT5 Demo Account

Awarded the Global Forex Broker of the Year 2020 in the Global Forex Awards, XM is a serious market maker broker. The demo account at XM is funded with a 100,000 USD virtual balance and available on both the MT4 and MT5 platforms. XM’s MT5 Demo Account is aimed at traders who want to trade more than just Forex. With over 1000 instruments available, traders will have access to Stock CFDs, Stock Indices CFDs, CFDs on Precious Metals and CFDs on Energies. The MT5 demo account also features a market depth indicator, hedging, and full EA functionality. XM’s demo account is not time-limited.

For beginner traders, XM Group’s educational content is based on instruction in a video format. The core educational offerings are three Education Rooms, aimed at traders of differing skill levels – primary, intermediate and advanced. The Primary Education Room is open to the public, but access to the others requires registration.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
AlertAccepts UK Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC. 77.19% of traders lose money with this provider.

Pepperstone – Best ECN Demo Account

Pepperstone is internationally recognised for its high-speed trading execution and an offering for beginners that most ECN brokers don’t have. Free demo accounts at Pepperstone allow clients to trade 80+ Forex pairs on MT4, MT5 and cTrader platforms, withcustomer support. The demo account expires after 30 days unless you have a live account, in which case you can request a non-expiry demo account.

The demo and the live account the same in performance and conditions, except the demo account comprises of 500,000 GBP in virtual funds. Pepperstone’s education section called Learn to Trade Forex helps traders get started with some of the technical concepts, while a section called Trading Guides supports traders with issues that they will confront every day; how to keep a trading journal, developing a trading plan and managing risk. 

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
    AlertAccepts UK Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA. 79.3% of traders lose money with this provider.

    IC Markets – Best MT4 Demo Account

    IC Markets is rare amongst brokers, as it provides a welcoming environment for beginner traders looking for an MT4 demo account with ECN conditions. In addition, the IC Markets demo account does not expire unless you are inactive for 30 days and can also be topped up by customer support.

    IC Markets offers two Raw Spread Accounts and a Standard Account, all with variable spreads, on the MT4 platform. The Raw Spread Accounts charge a small commission of 3.50 USD, but spreads are often down to 0 pips, averaging 0.1 pips on the EUR/USD pair. The Standard Account charges no commission but spreads start at 1 pip. IC Markets also offers an archive of structured course material, detailed independent market analysis, and expert-led webinars. IC Markets also provides excellent 24/7 technical support for both the MT4 platform and more general queries.

    Pros
    • Well regulated
    • Tight spreads
    • Wide range of assets
    • Great platform choice
    Cons
    • High minimum deposit
    • Limited market analysis
    AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.

    Marketsx – Best £10,000 Demo Account

    Marketsx is a new trading platform operated by Markets.com, a market maker regulated by CySEC and ASIC. The Marketsx demo account includes 10,000 GBP of virtual funds but is unlimited and will only expire after 90 days of inactivity.

    Demo account tarding conditions mirror the live account, which are particularly good when compared Markets.com’s direct competitors. 50+ currency pairs are available, with fixed spreads starting at 0.60 pips and leverage of 30:1. Other CFDs include stocks, cryptocurrencies, 25 indices, commodities, ETFs, and government bonds.

    Trading resources integrated into the Marketsx platform to help traders improve their market knowledge. Clients can also access rolling market coverage, a Week Ahead briefing and downloadable in-depth market guides without leaving the platform. Market analysis is available via Xray – the platform’s integrated video streaming service that provides the latest news and views on major markets, economic developments, and technical trends.

    Pros
    • Well regulated
    • Tight spreads
    • Wide range of assets
    • Fast and free withdrawals
    Cons
    • High minimum deposit
    AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA. 74.93% of traders lose money with this provider.

    Plus500 – Best Mobile Demo Account

    Plus500 is a leading CFD provider, driven mainly by an easy-to-use mobile platform and appealing trading conditions. The Plus500 demo account is unlimited, meaning it will never expire and is available using the mobile app and the web browser. Mobile trading apps are often poor shadows of desktop trading platforms, however, the Plus500 app has the same functionality as the web platform, which is intuitive and feature-rich, meaning traders can use the app’s advanced order types, sentiment indicators and price alerts on the move.

    Spreads are fixed at Plus500 but are reasonably tight with a 0.8 pip spread on the EUR/USD (April 16th, 2021) and no commission. Deposits and withdrawals are free, and there are zero fees for rolling over your position. Plus500’s customer service team is available 24/7 via WhatsApp and Live Chat for traders who appreciate customer service on weekends and evenings.

    Pros
    • Well regulated
    • Wide range of assets
    Cons
    • Limited education
    • Limited account options
    AlertAccepts UK Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Cryptocurrency availability subject to regulation. Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. All information presented is verified as of the date of the review. 76.4% of traders lose money with this provider.

    easyMarkets – Best Unlimited Demo Account

    The easyMarkets demo account is available on MT4 and the easyMarkets platform, which has unique trading tools. While the demo account has unlimited use on either platform, the demo account on the easyMarkets platform allows traders to test the innovative features, such as dealCancellation, Freeze Rate and easyTrade. Both platforms also offer traders 103 currency pairs to trade, alongside precious metals, commodities, indices, cryptocurrencies, and shares.

    easyMarkets also hosts the Learn Centre featuring articles, videos and ebooks covering multiple topics, including trading strategies, trading psychology, risk management and introductory learning modules for new traders. Market analysis is less impressive, but the market news feed is integrated into the trading platform for ease of access.

    Pros
    • Well regulated
    • Wide range of assets
    • Innovative trading tools
    Cons
    • Limited platform choice
    • Limited account options
    AlertAccepts UK Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & the proprietary easyMarkets platform are supported. easyMarkets is regulated by CySEC, ASIC, and the FSA in Seychelles. 73% of traders lose money with this provider.

    FP Markets – Best Unlimited MetaTrader Demo

    ASIC-regulated FP Markets has a free demo account to trade 60+ Forex pairs as well as shares, metals, commodities and indices on MT4 (desktop/browser) and MT5 (desktop/browser/app). The account will remain open for as long you want, and will only expire after 30 days of inactivity.

    The differences between the demo and live accounts at FP Markets are the execution (the demo account is virtual) and the spreads. The live account relies on ECN pricing which has multiple sources of liquidity, causing different spreads compared to a demo account. The minimum deposit on the live account is 100 GBP, with spreads on EUR/USD as low as 0.1 pips and commission of 6 USD per lot giving a total trading cost 7 USD per lot.

    Besides the demo account, FP Markets has introduced Traders Hub as an education and market analysis section. Daily technical and fundamental analysis is available, alongside all the educational eBooks, video tutorials, and trading courses are available to help beginner traders get going.

    Pros
    • Well regulated
    • Tight spreads
    • Good range of accounts
    • Great customer support
    Cons
    • Expensive withdrawals
    AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.

    BDSwiss – Best Market Research Provider

    The free demo account at BDSwiss comes with 10,000 USD virtual credit and has no time limit. It is available on MT4, MT5, the BDSwiss WebTrader and the recently updated mobile app. Adding another demo account or changing the demo account balance can be done by contacting the BDSwiss support team. Winner of our award for the Best Market Research Provider of 2020, beginner trader’s will benefit from the accuracy of its market forecasting. BDSwiss is also known for its comprehensive trading education, tight spreads and free deposits and withdrawals.

    Live trading accounts at BDSwiss are suitable for both beginners and more experienced traders, including a Raw Account with spreads down to 0 pips. All accounts benefit from fast execution speeds, with 97.5% of all trades executed in less than 0.2 seconds. 

    Pros
    • Tight spreads
    • Good for beginners
    • Wide range of assets
    Cons
    • Expensive withdrawals
    AlertAccepts UK Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.*Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    What is a Forex Trading Demo Account?

    While a live Forex account is funded by the trader, a demo account is a free virtual Forex trading account designed for beginners. This virtual money can only be used in the demo account and cannot be converted into real money. Because demo accounts work in the same way as real accounts, traders with demo accounts will face real market conditions.

    Demo accounts are all about learning how Forex trading works. Demo accounts are a good way for a new trader get hands-on experience before opening a live account and practice what they have learned. Demo accounts are also used by experienced traders to test new strategies, new trading robots and new trading platforms.

    Why Use a Forex Demo Account?

    Use a Forex demo account so that you will not lose any money while you are learning. Forex is a high-risk venture and 70-90% of traders will lose money, and beginner traders rarely profit by jumping straight into a real account. Being profitable depends on how well you know the Forex market and your ability to use your trading platform correctly. It also depends on the performance of your Forex trading strategy.

    Note that demo accounts are simulations of live accounts. For the true trading experience, you should open a demo account with the same minimum trade size as you would use in your live account. This way the demo trading environment will better mirror a live account, so the trader will learn how to trade, gain platform experience and perfect a strategy that will also work on a live environment. 

    Trader-thinking

    A Guide To Demo Accounts

    Demo accounts at different brokers can change considerably. Just because the money in the accounts is not real, does not mean that the rest of the broker experience will be the same. When reviewing brokers by demo accounts look for these things.

    Unlimited Demo Account

    Traders should choose a Forex demo account that never expires. Some brokers will only offer demo accounts for three for four weeks, but most brokers will extend the demo account if asked.

    Demo accounts that are unlimited are better because allow you to practice at your own pace, with no need for renewal. This way you are not under pressure to complete your education within a set time. With a demo account that never expires, you can also continue your trading education once you have a live account.

    Here are the FCA regulated brokers with unlimited demo accounts. They are ordered by overall score, showing the broker with the highest overall score at the top. 

    Scroll for more detailsPreviousNext
    Overall Rating
    Unlimited Demo
    FCA License
    All Regulators
    Beginner Course
    Experienced Course
    Beginner Videos
    Advanced Videos
    Webinars
    No. of FX Pairs
    Compare
    Official Site
    4.69 /5
    Read Review
    173730
    330
    Visit Broker >
    Your capital is at risk
    4.54 /5
    Read Review
    793714
    166
    Visit Broker >
    Your capital is at risk
    4.27 /5
    Read Review
    7110087
    38
    Visit Broker >
    Your capital is at risk
    4.25 /5
    Read Review
    586541
    80+
    Visit Broker >
    Your capital is at risk
    4.24 /5
    Read Review
    509956
    70+
    Visit Broker >
    Your capital is at risk
    4.19 /5
    Read Review
    585561
    85
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    609970
    70
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    629628
    36
    Visit Broker >
    Your capital is at risk
    4.12 /5
    Read Review
    717270
    60+
    Visit Broker >
    Your capital is at risk
    4.08 /5
    Read Review
    801701
    50+
    Visit Broker >
    Your capital is at risk
    3.78 /5
    Read Review
    590299
    40
    Visit Broker >
    Your capital is at risk
    3.57 /5
    Read Review
    609146
    222
    Visit Broker >
    Your capital is at risk
    3.52 /5
    Read Review
    586466
    40
    Visit Broker >
    Your capital is at risk
    3.47 /5
    Read Review
    35
    Visit Broker >
    Your capital is at risk

    Demo Account Trading Platforms

    When choosing a demo account, a trader should consider which trading platform to use. MetaTrader 4 (MT4) is supported by many Forex brokers and is a reliable platform with a lot of community support. Because it is so widely supported there are many online tutorials and guides for beginners. MetaTrader 5 (MT5) is similar to MT4 but has extended features and a more modern interface. cTrader is another popular platform, though is less widely available.

    Some brokers will offer more than one choice of platform. Choosing a broker with a wide platform choice would allow for the trader to try different trading platforms on the demo account. Here are the FSCA regulated brokers with a wide platform choice. They are ordered by overall score, showing the broker with the highest overall score at the top. 

    Scroll for more detailsPreviousNext
    Overall Rating
    Min. Deposit
    All Platforms
    FCA License
    All Regulators
    Unlimited Demo
    Android App
    iOS App
    Support Hours
    Compare
    Official Site
    4.69 /5
    Read Review
    GBP 5
    CMCmarkets
    173730
    24/5
    Visit Broker >
    Your capital is at risk
    4.69 /5
    Read Review
    GBP 250
    L2 Dealer
    ProRealTime
    195355
    24/5
    Visit Broker >
    Your capital is at risk
    4.61 /5
    Read Review
    GBP 5
    684312
    24/7
    Visit Broker >
    Your capital is at risk
    4.38 /5
    Read Review
    GBP 5
    705428
    24/5
    Visit Broker >
    Your capital is at risk
    4.37 /5
    Read Review
    GBP 10
    600475
    24/7
    Visit Broker >
    Your capital is at risk
    4.25 /5
    Read Review
    GBP 5
    586541
    24/5
    Visit Broker >
    Your capital is at risk
    4.24 /5
    Read Review
    GBP 25
    MT Supreme
    595450
    Business Hours
    Visit Broker >
    Your capital is at risk
    4.24 /5
    Read Review
    GBP 100
    FxProEdge
    509956
    24/5
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    GBP 50
    ATPro
    113942
    24/5
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    USD 100
    609970
    24/5
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    GBP 100
    186171
    24/5
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    GBP 5
    629628
    24/6
    Visit Broker >
    Your capital is at risk
    4.13 /5
    Read Review
    GBP 50
    NinjaTrader
    217689
    24/5
    Visit Broker >
    Your capital is at risk
    4.08 /5
    Read Review
    GBP 100
    801701
    24/5
    Visit Broker >
    Your capital is at risk
    4.05 /5
    Read Review
    GBP 5
    Cloud Trade
    525164
    24/5
    Visit Broker >
    Your capital is at risk
    4.00 /5
    Read Review
    GBP 1000
    AdvancedTrader
    562170
    8:00 - 22:00 CET Monday to Friday
    Visit Broker >
    Your capital is at risk
    3.78 /5
    Read Review
    USD 200
    590299
    Business Hours
    Visit Broker >
    Your capital is at risk
    3.52 /5
    Read Review
    USD 500
    586466
    24/5
    Visit Broker >
    Your capital is at risk

    Mobile Trading on Demo Accounts

    If you plan to be doing a lot of mobile trading, it makes sense to open a demo Forex account on a mobile app as well. Make sure that the trading app works well on your mobile phone.

    Mobile trading apps have evolved a lot over the years since the first ones became available a decade ago. To a large extent, the functionalities of Forex demo accounts available on desktop platform terminals are now captured by mobile apps.

    Customer Support for Demo Accounts

    All brokers will have customer service open on weekdays, but the better brokers extend their customer service into the evenings and weekends. We include the customer service hours in our reviews and some of the tables on this page. Contact methods can vary from poor customer service ticketing systems (eToro) to direct email address and local toll-free phone numbers. Live chat and other messenger services are also available with some brokers, but responsiveness can vary depending on the time of day.

    How do you open a Forex Trading Demo Account?

    Opening a demo account only takes a few minutes. To get started:

    1. Visit a Forex broker where you would like to open an account.
    2. Complete your personal information.
    3. Verify your phone number or email address.
    4. Follow the instructions on your screen and in your email.

    Here is a video tutorial showing how to open a demo account on FXTM, but the process is a similar with other brokers.

    Forex Risk Disclaimer

    Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

    Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

    Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

    Our Methodology

    Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

    With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

    In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

    All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers.

    References

    These resources were used in writing this article in order to keep accuracy of the information.

    Featured Brokers

    Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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