Best 10 Forex Demo Accounts for Beginners And Experienced Traders

eToro joins the long list of brokerage firms that don’t limit the amount of time you can spend practicing on their demo account as you prepare to start trading. The platform supports a free forex demo account everywhere outside the US, while for US customers you can get a free crypto trading account to hone your skill with.

The only noticeable difference between the real and demo eToro trading accounts is the type of cash used to trade. With eToro, you only need to register with the broker once, as the online securities broker maintains a unified registration form for both real and practice accounts. This means that you don’t need separate login details to access the demo and real trader account.

Plus any Etoro member can use the practice account. Beginners use it to learn about the broker platform (tools and features) and set up the strategies they will use to trade while experienced traders use the demo account alongside the real account to boost the effectiveness of their trading strategies.

The practice account operates as a training ground where you learn everything about trading with eToro, from the tools used, their trade costs, and how to use the copy trading tool effectively. Master how these tools can be deployed to boost the profitability of your trades and then apply them in a live account.

Two primary factors help Plus 500 stand out from the rest of the competition when it comes to forex demo accounts. First, it is a free unlimited demo account – implying that there is no time limit to the use of the account. And that you can easily have your virtual currencies redeemed as soon as you exhaust the previous allocation. Secondly, Plus 500 is a pure-CFD broker.

You can open the demo account on their proprietary trading platform. Here, you get access to a wide range of tools and indicators for analysis and trading as well as a host of risk management tools that include the guaranteed stop order.

Note: Trading CFDs on Plus500 is only suitable for experienced traders.

FXCM makes it to our list of best demo forex accounts because of its dedication to forex training and education. This complements their already comprehensive demo trading account. And also makes the broker appealing to both novices and established traders.

It also is available in multiple trading platforms that include the MT4, ZuluTrade, NinjaTrader, and Quant. You can connect either of these to your desktop or mobile app, and get $50,000 in virtual funds upon opening the free demo account. The demo account exposes you to over 39 currency pairs with leverages of 1:400.

IG Markets have two types of Demo accounts, the Core demo account hosted on their proprietary web-trading platform and the MT4 demo account hosted on the all-popular MetaTrader platform. The two have several features in common including access to $20,000 in virtual funds. They also host a wide range of premium trading and analysis tools, grant you access to the online broker’s customer support team, and real-time market data.

They, however, have varied execution speeds, spreads, and access to trading/market analysis tools. The MT4 demo account is popular for its fast order execution speeds and minimal slippages while the web trader demo account posts tighter spreads. Plus when using the web trader platform, you get access to premium risk management tools like stop orders, currency alerts, autochartist tools, and ability to integrate the Reuters forex news updates.

Registering for a Demo account with AvaTrade is easy as you can opt to fill in your account details or simply link it with your Google or Facebook Profile. After registration, the online forex and CFDs brokerage presents you with the option to host your free demo account on either the conventional MT4 and MT5 trading platforms or their proprietary AvaOptions web trading platform.

The AvaTrade Standard demo account is funded with $100,000 virtual cash. Additionally, it is only valid for 3 weeks and so any unused virtual funds in your demo account will expire after 21 days. Unlike most other forex brokerages, however, AvaTrade will always extend this time period if you contact their customer support asking for an extension. Alternatively, you can simply create another demo account since the broker maintains no limit to the number of demo accounts associated with one email.

When practice-trading with the AvaTrade demo account, you have access to near-real-time market data, 24/7 customer support, forex trading education, and training guides. You also get to interact with several premium trading and market analysis tools. International clients have access to trading leverages of up to 1:400 while EU residents trade within the 1:30 ESMA/FCA restrictions.

You only need your name and a valid email to create a demo trading account with FBS that’s hosted on the MT4 trading platform.

The demo account expires in 90 days for FBS European clients and 45 days for international traders. The upside to this is that there are no limits to the number of demo accounts that you can link to one email. You, therefore, are free to create a new demo account as soon as one expires.

FBS clients practice-trading on an FBS demo account have access to numerous forex trading pairs, premium trading and market analysis tools, technical indicators, and near-real-time market data. The only difference between FBS demo and live trading accounts is the fact that a demo account doesn’t take into account real spreads, trade commissions, and slippages.

Easy Markets operate what we consider the most beginner-friendly forex demo accounts. They will furnish you with the most comprehensive educational and training resources. An exceptionally supportive customer support team further complements this. And they can be reached via live chat tool on the EasyMarkets website, phone, and social media – including WhatsApp. The broker’s demo account also tries to mirror the activities of the real market environment as perfectly as possible.

Some of the most exciting features about the Easy Markets Demo account include 100% fixed spreads and 0% commission. The broker further promises 0% slippage and a highly effective risk management option with a guaranteed stop-loss feature. Plus, you are free to cancel losing trades on their proprietary Easy markets platform using the ‘deal cancellation’ feature. Here, you have access to $10,000 virtual currency.

Registering for a demo Forex trading account with ETX Capital is easy and straightforward as you only need a name, phone number, and a valid email address. The demo can be hosted on either the online brokerage’s proprietary TraderPro platform or the all-popular MT4 platform. Ans both are available in the WebTrader, Desktop, Mobile app versions.

After account verification, the broker will fund your account with €10,000 in virtual funds that you can use to open different CFD trades, including 58+ currency pairs. You also get access to a host of premium trading tools, technical indicators, and customizable charts.

There is no limit to the number of demo accounts you can open with one email address. You, therefore, are free to open another as soon you deplete the virtual funds.

Thinkorswim – the proprietary trading platform for TD Ameritrade – is by far one of the most comprehensive platforms we have come across. Here, you have access to over 300 analytical tools. These are then complemented by an equally rich resource of training and forex trading educational materials. And you get unlimited access to these tools and resources in a demo account that you can interact with for 60 days.

Most importantly, the data on the demo trading environment is as close to the real market data as it can get – with a mere 20 min delay. Plus you are treated to one of the most extensive virtual currency stocks in the industry of up to $100,000. The broker is NFA and CFTC regulated and thus welcoming to the United States forex traders.

As the rest of the world and leading forex brokerages abandoned their proprietary trading tools and adopted the MT4 trader, CMC stuck with its Next Generation trading platform. The broker has over the years nurtured and strived to make it one of the most innovative proprietary trading platforms.

Some of its key features include highly customizable layouts and trading tools, multiple charting options, full automation, and availability in desktop and mobile app trading versions. The broker doesn’t impose a limit on the volume of virtual currency or the amount of time you can spend on the practice account. It is also worth noting that they only added MT4 as an alternative trading platform for their clients in 2018.

Go Markets uses MT4 trading platform to host its real and demo trading accounts. This makes it possible to avail the live market trading data easily to demo traders. It makes it on this list of best demo accounts because of its adoption of the most advanced trading technologies. And this is best reflected in its ultra-fast trade execution speeds.

This stretches further to feature price improvement technology that is available in both the demo and real trading accounts. Here, you can practice trading over 50 currency pairs with adjustable leverages of up to 500:1. The demo account will have $10,000 in virtual cash that you can play with for a maximum of 30 days.

You can open a free account with ThinkMarkets on the MT4, MT5 and ThinkTrader platforms. On either platform, you can trade over 35 of the most popular currency pairs with leverages of up to 500:1.

Nevertheless, what we like most about ThinkMarkets demo accounts is the fact that they present you with some of the most advanced trading and analytical tools. These include Autochartist, Trading Central, Forex VPS, and the economic calendar. Additionally, demo account traders can backtest the effectiveness of both existing and new trading strategies.