Best Forex Trading Demo Accounts

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.

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.

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. 

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.

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. 67 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.

Plus500 – Unlimited 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.
*spreads correct as of 17:40 GMT on 02/09/21

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.

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.

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.