Best Forex Demo Accounts

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Minimum Deposit
$50
TRADING INSTRUMENTS
  • Forex
  • Cryptocurrencies
  • Stocks
  • Indices
  • WTI
  • Bonds
  • Precious metals
TYPE OF BROKER

Market Maker/STP

REGULATED BY
ASIC ASIC
FCA FCA
FSCA FSCA
TRADING PLATFORMS
  • MetaTrader4
  • Trade Station
  • Ninja Trader
  • WebTrader
DEPOSIT METHODS
  • Visa
  • Mastercard
  • Bank Transfer
  • Skrill
  • Union Pay
  • Neteller
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 1.3 pips
  • Currency Pairs : 39
Minimum Deposit
$200
TRADING INSTRUMENTS
  • Commodities
  • Forex
  • Cryptocurrencies
  • Metals
  • Bonds
  • Indicies
  • Interest rates
TYPE OF BROKER

Market Maker

REGULATED BY
FCA FCA
 ASIC ASIC
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 200:1
  • Min. Spread : 0.5 pips
  • Currency Pairs : 84+
Account Spread From Commission Execution Min. Deposit
Professional 0.5 pips None Instant $200 Account Details
Standard 0.5 pips None Instant $200 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Stocks
  • Indices
  • Cryptocurrencies
  • Commodities
  • ETFs
TYPE OF BROKER

Market Maker

REGULATED BY
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Neteller
  • Skrill
  • PayPal
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 0.7 pips
  • Currency Pairs : 50+
Account Spread From Commission Execution Min. Deposit
Professional 1.3 pips None Instant $100 Account Details
Retail 1.3 pips None Instant $100 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Commodities
  • Indices
  • Metals
  • Cryptocurrencies
  • Vanilla Options
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
ASIC ASIC
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • Neteller
  • Skrill
  • Bank Transfer
  • Astropay
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 1.8 pips
  • Currency Pairs : 97
Minimum Deposit
$500
TRADING INSTRUMENTS
  • Commodities
  • Forex
  • ETFs
  • Indices
  • Stocks
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
TRADING PLATFORMS
  • MetaTrader4
  • Sirix
  • WebTrader
DEPOSIT METHODS
  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 3 pips
  • Currency Pairs : Unknown
Account Spread From Commission Execution Min. Deposit
Gold 2.0 pips None Instant $5,000 Account Details
Islamic Not Published None Instant $10,000 Account Details
Mini 4.0 pips None Instant $500 Account Details
Platinum 2.0 pips None Instant $10,000 Account Details
Standard 3.0 pips None Instant $1,000 Account Details
VIP 1.6 pips None Instant $50,000 Account Details
Minimum Deposit
$200
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • ETFs
  • Indices
  • Stocks
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
ASIC ASIC
TRADING PLATFORMS
  • eToro platform
DEPOSIT METHODS
  • Mastercard
  • Visa
  • UnionPay
  • Neteller
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 2 pips
  • Currency Pairs : 47
Account Spread From Commission Execution Min. Deposit
Live 2 pips None Market $200 Account Details
Minimum Deposit
$5
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indices
  • Metals
  • Shares
  • Stocks
  • Energies
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • UnionPay
  • Neteller
  • Skrill
  • Bitcoin
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 1 pips
  • Currency Pairs : 55+
Account Spread From Commission Execution Min. Deposit
Micro 1.0 pips None Instant $5 Account Details
Standard 1.0 pips None Instant $5 Account Details
XM Ultra Low 0.6 pips None Instant $50 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Futures
  • Indices
  • Metals
  • Shares
  • Energies
TYPE OF BROKER

NDD Intervention Market Maker

REGULATED BY
CySEC CySEC
FCA FCA
SCB SCB
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • cTrader
  • FxPro Edge
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • UnionPay
  • Neteller
  • Skrill
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.6 pips
  • Currency Pairs : 70+
Account Spread From Commission Execution Min. Deposit
FxPro cTrader 0.45 pips $4.50 Market $100 Account Details
FxPro MT4 1.2 pips None Market $100 Account Details
FxPro MT5 1.52 pips None Market $100 Account Details

How To Compare Forex Demo Accounts?

Demo accounts are the try before you buy feature of Forex trading brokers.  That said, I always advise new traders to treat a demo account just as you would a live account for the following reasons.

  • Are the spreads tight?  Even though demo accounts are a simulation, you need to learn how margin trading works.
  • Does the broker support the platform you want to use?  If not, look for one that does.
  • Are you comfortable making the minimum deposit?  If you decide to open a live account with this broker, are you going to have the financial means to do so?
  • How long does the demo account stay open?  Many demo accounts are time limited unless you open a live account. You should never feel rushed by a broker, so make sure you know the answer.

Demo Account Advantages

All forms of CFD trading carry high risks. Alongside educating yourself, the best way to learn risk management in Forex trading is to use a demo account. If this is your first time trading, it is very important that you open a demo account before a live trading account.  Other good reasons to use a demo account are:

To test the platform

Mаkе sure thе Forex demo account offers everything you need to simulate your strategy when you start trading real money. Trading platforms will give you information about the live markets, historical data to include in your analysis, economic calendars to identify upcoming news events, quote information and an order window to make your trades.

To test the broker’s service

All Forex brokers will tell you that they have the best level of service, but some are better than others.  When we compare levels of service, it is not just about how many hours the customer support office is open for, but rather if you are assigned a dedicated account manager, or if you have access to a market analyst to discuss your trades with.  In all fairness, you will likely not get both of these if you have not made a deposit, but during your conversations with the broker, while you have your demo account, you can ask about these kinds of perks.

To download any educational material

A demo account is your opportunity to learn in a hands-on, risk-free environment.  Most brokers will throw open the doors to their educational content.  It could be ebooks, short videos, webinars, or even premium subscription material so take the opportunity to learn from them, so you become better at developing a trading plan, spotting opportunities, sizing the order right and maintaining strict risk management.

To decide if Forex trading is for you

Once you have had a chance to use the trading platform, started reading about what it takes to be a successful trader, and tested the level of engagement you will get from the broker, you should be able to decide if you enjoy Forex trading.  If you have no pleasure in trading, it is probably not your thing. But if you find the markets interesting, enjoy the analysis, and find satisfaction in each trading session, you have successfully used your demo account, and you are ready to become a live trader.

Are Forex Demo Accounts Accurate?

From a statistical perspective, yes they are.  Demo accounts use the same live market data as live accounts.

Where they are less accurate is in the psychology of the trader.  In live trading there is an ever-present fear of losing, and this encourages the trader to protect themselves by being diligent with setting order types, or by making additional leverage calculations to get the risk exposure correct.

But with a demo account, there is an absence of this fear because the money is not real. Therefore, from a psychological aspect, your behaviour will not accurately reflect the reality of trading with a live account, with real financial consequences.

Iѕ Fоrеx Trading Risky?

As with any speculative trading, there are risks to Forex trading.   Forex trading uses leverage – borrowed money from a liquidity provider to inflate the size of your traded investment.  If you were to trade without leverage, the movements in the market would be too small to make a large profit from; but it is because of the amplified effect of using leverage that level of risk is so high.  If you lose a leveraged trade in Forex trading, you are responsible for paying the full loss from the balance in your trading account.

That said, yоu can аlwауѕ set a lіmіt tо thе downside оf any trаdе by using a stop loss; dеfіnе thе mаxіmum lоѕѕ that you are prepared tо ассерt and limit your exposure to risk in trading.  If you are concerned about losing the investment that you are making, then you should consult a financial adviser to help you decide how much you can afford to make as a deposit.

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.