Best 10 UK Forex Demo Accounts for Beginners And Experienced Traders

Plus500 is a leading online forex and CFD trading platform. It was established in Israel in 2008 and it now has regional offices in other countries, including the UK. It is listed on the London Stock Exchange (LSE) and is part of the UK FTSE 250 index. Also, the site is regulated by the Financial Conducts Authority (FCA) under the license number FRN 509909.

The site offers a free and unlimited demo account. It means that you can use the account for as long as you want. This is a great feature to familiarize yourself with the trading platform and the market. The registration process is simple and straightforward.

It is effortless to upgrade from the demo account to the live trading account. You will only need to provide more information, verify your account and deposit funds. The minimum deposit for the basic live account is $100, and the maximum leverage is 1:30. To upgrade to the professional account, you must have performed a minimum of ten transactions per quarter for the last year.

There are no deposit and withdrawal charges involved. In addition, there are numerous ways you can deposit and withdraw funds. However, it is worth noting that free withdrawal is only for the first five transactions, after which a $10 charge is applied. Also, every deposit must come from the account holder’s e-wallet or bank account. The site does not support third-party transfers.

Forex.com was established in 2001, and it is regulated by various regulatory bodies, including the FCA in the UK. Right now, the site is operated by Gain Capital Holdings, which is listed in the NYSE. It is a robust trading platform for both beginners and professional traders.

The only difference between the demo account and the live trading account is that you can use virtual funds instead of real money. Forex.com demo account has been designed to familiarize you with the functionality and the features of the actual account.

It is important to note that the demo account is just a practice account so the results achieved are purely hypothetical. Also, the account does not yield actual profits or losses like in the live trading account. Furthermore, the conditions set in the demo account are theoretical and do not always reflect the real circumstances in the market.

After practicing, you can sign up and start real trading. The Forex.com platform has three account options namely the standard account, commission account and direct market access account. You will only need to provide your name, address and tax ID number. Typically, the verification process will only take a few minutes and the minimum deposit required is 100 EUR. However, you can deposit more for more trading flexibility.

It is worth noting that it is only the standard account that works with the MetaTrader4 platform. The other accounts work on the Forex.com proprietary platform, which is also up-to-date. You can access the platform with mobile apps and desktop.

EasyMarkets is a popular forex trading site that offers several unique features. It is regulated and licensed by leading regulatory bodies, which means it is a safe broker. The site began its operations in 2001 as Easyforex but later rebranded. Right now, it is available on both its proprietary platform and MT4 platform.

The site offers a free demo account for all traders. It has been designed exactly the same as the live trading platform to enable you to learn and test new strategies. On the downside, the demo account is only loaded with $10,000 virtual funds, which is low compared to other demo accounts that offer up to $50,000.

To access the demo account, you will have to first register as a user. The process is very easy, and you can choose to sign up using your email, Google account or Facebook account. Once you have signed in, the first thing you will notice is the simplicity of the interface; it only features a list of the traded commodities, the chart and an information section.

After learning and polishing on your trading skills, you can check out the live trading account. Unlike other forex trading platforms, EasyMarkets does not charge deposit and withdrawal fees. Also, for security purposes, the identity of the account holder is verified before withdrawal requests are approved. Also, proof of identity and address is required and if you use a credit card, you may be required to provide more documentation.

The mobile app has similar features to the web-based platform and is designed for iOS and Android devices. It has a colorful and straightforward interface that is simple to navigate compared to other forex trading apps.

CMC market is an established forex and CFD broker founded in 1989. It is headquartered in the UK with 15 offices around the world. Since the site is regulated by the Financial Conduct Authority (FCA), it employs high-level security and safety measures.

The free demo account will enable you to familiarize yourself with its trading platform known as Next Generation. This is a CMC Markets proprietary platform that is a bit difficult to navigate because of its complex layout and functionalities.

The demo account is unlimited, which means you can use it for as long as you need. This is a rare feature since most forex trading platforms have a deadline with their demo accounts. The most exciting thing is that the demo account has been designed precisely the same as the live platform. Also, it comes with virtual funds to enable you to practice trading strategies and techniques. When you are ready to start real trading, you can use the login details you used when setting the demo account. You will only need to deposit funds to start trading.

CMC Markets involves major, minor and emerging currency pairs to give its users a wide range of trading opportunities. Some of the most common pairs include AUD/USD, EUR/CHF, GBP/USD, Dash/USD, Ethereum/USD, etc. The average leverage is around 30:1, which is better compared to other forex trading sites. One of the biggest issues with forex trading sites is the lack of reliable customer support. CMC markets feature a live chat function and telephone lines that are available 24/5.

OANDA is one of the leading forex and CFD brokers in the industry. The platform is operating under the guidelines of six regulatory bodies, including the Financial Conduct Authority (FCA) in the UK. Right now, it is available in over 196 countries around the world.

The site prides itself as a fully automated forex trading platform and offers transparent services and competitive spreads. This is because it has a wealth of experience and longevity in the industry than most of its rivals. Since its establishment in 1996, the platform has grown considerably in the last two decades, advancing from spot forex to over 124 trading instruments.

Its most outstanding feature is its demo account. While some forex trading platforms offer a limited demo account, the OANDA demo account is unlimited, and you can use it for as long as you want. Also, the demo account has been designed exactly the same as the live trading account, except that you use virtual funds instead of real cash.

After practising and gaining enough confidence, you can upgrade to the live trading account and start trading in the real market. Since you provided details when opening the demo account, the upgrading process is straightforward.

One of the biggest concerns with online forex trading is data security. Recently, there have been numerous cybercrime cases where people have lost their personal data. Fortunately, Oanda has employed specific measures to ensure that personal data and trading activities are secured.

AxiTrader knows what features traders want and aims to offer them in the most efficient way possible. It was established in 2007 in Sydney, Australia under AxiCorp Financial Services. The site grew steadily and ventured into the international market. In 2012, the company opened a UK office under the business name AxiCorp Limited.

As it has become standard for most online forex trading sites, AxiTrader comes with a demo account. This is a great way to learn and sharpen your trading skills in a non-threatening and beginner-friendly environment.

The demo account is a replica of the live trading account. For example, it is funded with $50,000 virtual funds and features real-time execution speeds and spreads. You will only need to provide a few personal details to start using the demo account. On the downside, the account is only available for 30 days. Most forex trading platforms are nowadays offering unlimited demo accounts.

Upgrading from the demo account to the standard account is very simple, and you will only need to fill out the registration form. The site is highly encrypted so you shouldn't worry about your personal information. To protect your account, you will need to confirm your identity. Once your identity has been verified, you can fund your account and start trading; there is no minimum deposit required in the basic MT4 standard account. Also, there are no commission fees, spreads starts at 1.0 pips, and the minimum trade is 0.01 lots.

Go Markets Pty LTD is one of the most reputable forex trading platforms in the UK. It is regulated by the Australian Securities and Investment Commission (ASIC) and licensed by Australian Financial Services under license number AFSL254963. The head office is in Australia with offices in London, China and Hong Kong.

The site has a free demo account for both MT4 and MT5 platforms. It is loaded with $50,000 virtual funds to enable you to practice and try out strategies without committing real capital. The demo account provides the same price feed as the live platform. There is also standard and Go Plus+ accounts with minimum opening amounts of AUD 200 and AUD 500, respectively.

Remarkably, all account holders on the site are assigned a dedicated manager for assistance in case of any issue. Also, the minimum leverage for all accounts is 1:500, which is impressive compared to other forex trading platforms. Go Market offers the trading of some of the major currencies such as AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, etc.

One of the most appealing features of this site is the digital security measures it employs. For instance, the site uses up-to-date servers protected with the latest software applications and firewalls. Also, the site is protected with a secured socket layer (SSL), which provides a secure environment.

To become a trader on the platform, simply fill out the registration form and submit. If you have created the account successfully, you will receive a confirmation email. Next, you will have to download either the MT4 or MT5 trading platform. The links to download the platforms are provided on the site. Whether you choose to download MT4 or MT5, the installation procedure is the same.

Pepperstone is a reputable forex trading platform that was established in 2010 in Australia. Since then, it has enjoyed a remarkable growth rate, and it now has over 57,000 clients from around the world. In 2015, it opened offices in London to serve the European clients. The platform is considered safe because it is regulated by both the Financial Conducts Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

The site has a demo account that you can use to practice and familiarize yourself with the trading platform. To start using the demo account, you are required to complete a simple application form where you only need to provide your name, email address and phone number. Alternatively, you can sign up using your Google account, Facebook or LinkedIn. The demo account is funded with $50,000 virtual funds to enable you to practice risk-free.

Upgrading from the demo account to the actual trading account is very easy. You will only need to complete the verification process and deposit at least $200. Pepperstone has complied with financial regulations by segregating client’s funds in tier-1 banks.

AvaTrade is a well-established forex and CFD brokerage firm founded in 2006 in Ireland under the name AvaFX. It rebranded later to improve service delivery and has spread to other parts of the world. It is regulated by the Central Bank of Ireland and other financial authorities such as the Financial Conducts Authority (FCA) in the UK.

If you are not yet ready to start using the live account, you can start trading using the free demo account first. You are only required to provide your name, email and phone number to get started. Alternatively, you can use your Facebook and Google accounts. It is funded with $100,000 virtual money, which is high compared to other forex trading sites.

The demo account is designed to look the same as the real trading account. For instance, it features some of the popular currency pairs such as GBP/USD, AUD/USD/ USD/CHF, etc. There is also a graphical representation of the exchange rate between the currencies.