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11 Best Forex Demo Accounts for 2025
Looking for the top broker with a demo account? Based on our hands-on analysis, we’ve selected the 11 best options tailored to various trading needs. Practical tips from our experts are included.
By:
Reviewed By:
Updated: Dec 16, 2024
List of Top Forex Demo Accounts
Best brokers for US traders
82 currency pairs. Robust platform. IG Academy.
Easy-to-use app and web platform. Extensive range of futures contracts. Futures Trading Academy.
Best brokers for international traders
Multiple platforms. Broad range of tradable instruments. Great research and educational materials.
20 cryptocurrency CFDs. Research from Trading Central. Competitive spreads.
Low fees. Live webinars. User-friendly platform.
Intuitive app. 1-click trading. Actionable educational content.
Platform tutorials. Webinars. Reliable support. Choice of demo account types.
Tight spreads. Advanced platforms. 24/7 support.
Ultra-fast order execution of 12 ms. Competitive spreads. Versatile platforms.
Variety of account types. Infinite demo account. IronFX School.
High trust rating. Strong range of instruments. Spread betting via MT4.
How did FXEmpire choose the best forex trading demo accounts?
We carefully considered the needs of demo traders and focused on the points that benefit this group the most.
- We conducted a test drive for each trading platform, digging into available order types, charting, watchlists, and UX. We checked which platforms are available via demo account.
- We looked at the different account types available to test via demo (STP and ECN accounts).
- We ensured that each broker had a strong range of tradable forex and CFD instruments.
- We made a note of the length of time before the demo account expires.
- For each broker, we tested customer service across phone, chat, and email with many questions, paying attention to responsiveness and the overall quality of the support.
- We explored the educational resources available to demo traders, from articles to webinars and courses.
- We also analyzed other significant areas, such as trustworthiness, fees, and platforms, to gauge the quality of the offering should a trader decide to open a live account.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology. Here’s how we test.
Now let’s go through the selected brokers.
Best Overall
4.5
Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
- $50Min Deposit
- 935Tradable Instruments
- LowFees
Why We Picked It
Sydney, Australia-based Vantage excelled in our tests and proved a well-rounded broker. Regulated by the top-tier ASIC and the offshore CIMA, the company is audited, and all client funds are held in a segregated trust account.
Vantage Demo Account Features
- Platforms: MetaTrader 4, MetaTrader 5, ProTrader
- Demo Account Types: Standard STP or Raw ECN
- Virtual Funds: up to $100,000
- Leverage: 1:100 to 1:500
- Base Currencies: USD, GBP, CAD, AUD, EUR, SGD, NZD, JPY, HKD, PLN
- Demo Account Lifetime: 30 days by default, but unlimited demo accounts can be created on request.
Vantage offers the popular MetaTrader 4 and MetaTrader 5 platforms and the state-of-the-art ProTrader platform powered by TradingView. From our hands-on test, the proprietary Vantage app is intuitive and allows clients to stay connected to the markets while on the move. Demo accounts are available across all platforms. They expire after 30 days but can be extended on request.
Demo traders can use an impressive range of available instruments, spanning CFDs on forex, indices, commodities, shares, and cryptocurrencies. The offering is above average for the industry and includes CFDs on futures and soft commodities. We checked that clients of Vantage also have access to a great range of educational materials which can assist them in their development as traders, including live webinars.
We found that spreads are competitive, especially in CFDs on indices and some forex pairs – an important factor for traders if they decide to trade live after using the demo.
Pros and Cons
Pros
- Strong selection of trading platforms available via demo.
- Broad range of tradable instruments.
- Different account types can be tested via demo.
- Top-notch research and educational materials.
Cons
- Users must navigate chatbot questions before reaching a human agent.
Best for Cryptocurrency Trading
4.2
80.26% of retails CFD accounts lose money.
- $100Min Deposit
- 10107Tradable Instruments
- HighFees
Why We Picked It
Sydney, Australia-based TMGM launched in 2015 and has since established itself as a competitive CFD broker with favorable trading conditions. Regulated by various agencies, including the top-tier ASIC, TMGM received a high trust score in our review. Several platforms and account types are available, catering to different trader profiles.
TMGM Demo Account Features
- Platforms: MetaTrader 4, IRESS
- Available Demo Account Types: Classic, Edge
- Virtual Funds: 5,000 to 50,000
- Available Leverage: 1:1 to 1:25
- Base Currencies: AUD, USD, GBP, NZD, EUR, CAD
- Demo Account Lifetime: Unlimited but expires after 1 year
TMGM offers 20 CFDs on cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Cardano. These are available for trading via both demo and live accounts. Our tests found that spreads at TMGM are better than average, including spreads on cryptocurrencies.
Demo traders can explore award-winning research from Trading Central, which is available from the TMGM client portal. Trading Central includes the Market Buzz sentiment tool, trading ideas, and analyst views. Customer support is available 24/7 via live chat, phone, and email, and we received fast, high-quality responses to our inquiries.
For traders looking to trade live after a demo: TMGM earned an above-average mark in the fees category. Its spreads are low-to-medium compared to the broader industry, with commission-free trading also available.
Pros and Cons
Pros
- Competitive spreads.
- Fast order execution.
- Diverse account types.
- 24/7 customer service.
Cons
- Does not offer CFD on ETFs or options.
Best Demo Contest
4.3
Forex margin trading involves substantial risks.
- $25Min Deposit
- 254Tradable Instruments
- LowFees
Why We Picked It
Founded in 2011, OCTA is a global CFD broker headquartered in St. Vincent and the Grenadines. Clients can trade CFDs on forex, commodities, indices, and cryptocurrencies via MetaTrader 4, MetaTrader 5, and the OctaTrader platform. Two main account types (Innovative Traders and Traditional Traders) are available, catering to different trader profiles.
OCTA Demo Account Features
- Platforms: MetaTrader 4, MetaTrader 5, OctaTrader
- Available Demo Account Types: Standard
- Virtual Funds: Unlimited
- Available Leverage: 1:1 to 1:500
- Base Currencies: USD
- Demo Account Lifetime: Infinite but MT4 demo expires after 8 days of inactivity, MT5 demo expires after 60 days of inactivity
The demo account contest at OCTA uses the MetaTrader 4 platform and takes place over four weeks. The trader with the highest balance at the end of the round wins the main prize, $500. Second place wins $300, third place $100, fourth place $60, and fifth place $40. To date, there have been 134 contents, and OCTA records detailed stats ranking all participants – including the total number of trades, pips, final equity balance, and percentage gain.
Demo traders can also draw from the educational resources at OCTA, which we rated above average in our review. Materials include regular live webinars and a forex basics video course.
In our tests, OCTA performed well in the category of fees. Live traders can benefit from tight spreads in CFDs on forex and commodities, no swap fees, no inactivity fees, and no deposit or withdrawal fees.
Pros and Cons
Pros
- Tight forex spreads.
- Good research materials.
- No swap fees.
- Copy trading available.
Cons
- No phone support.
Best Trading App
4.4
Online Forex/CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading Online Forex/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. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of Exinity Capital East Africa Ltd based on the legal requirements in his/her country of residence.
- $200Min Deposit
- 593Tradable Instruments
- MediumFees
Why We Picked It
Established in 2011, FXTM is a global forex and CFD broker headquartered in Limassol, Cyprus. Top-tier authorities, including the UK FCA and CySEC, regulate various entities of FXTM. Demo traders have access to trading in CFDs on forex, indices, commodities, and shares. The variety of major, minor, and exotic currency pairs is better than average.
FXTM Demo Account Features
- Platforms: FXTM Trader App, MetaTrader 4
- Available Demo Account Types: Micro, Advantage, Advantage Plus
- Virtual Funds: Up to 1,000,000
- Available Leverage: Up to 1:500 but varies by region
- Base Currencies: EUR, USD, GBP
- Demo Account Lifetime: Unlimited
The FXTM app is intuitive and user-friendly, making it a good starting point for demo traders. Watchlists, tracking of open, pending, and closed positions, 1-click trading, and trading from the chart are among the features within the app. Standard order types are available, including market orders, limit orders, and stop-loss orders.
FXTM compliments its demo account with in-depth educational content, including helpful articles, ebooks, and video content. Specific trading strategies are outlined that new users can get started with and test in their demo accounts. Another positive point is that clients of FXTM are assigned a dedicated customer solutions representative, providing a personalized experience.
Pros and Cons
Pros
- User-friendly mobile app.
- Strong educational materials.
- Dedicated account representative.
- Excellent support.
Cons
- Limited tradable instruments.
Best Education for Beginners
4.4
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs, or any other of our products work, and whether you can afford to take the high risk of losing your money.
- $100Min Deposit
- 646Tradable Instruments
- MediumFees
Why We Picked It
Tickmill is an award-winning CFD broker founded in 2014. With five entities primarily licensed by first and second-tier regulators, the London-based broker received a high trust rating in our review. Traders can choose between various CFD instruments, including forex, commodities, stocks, and cryptocurrencies.
Tickmill Demo Account Features
- Platforms: MT4, MT5
- Available Account Types: Classic, Raw
- Virtual Funds: Unlimited
- Leverage: Up to 1:500 but varies by region
- Base Currencies: USD, GBP, EUR, PLN, CHF
- Demo Account Lifetime: Infinite, but expires after 7 days of inactivity
Tickmill is a broker that can cater well to both beginners and advanced traders, and this is reflected in their educational offerings. Almost 90 video tutorials cover everything from trading basics to more nuanced topics like the psychology of trading. There is also a valuable series of platform tutorials to help new traders make the most of the MT4 and MT5 platforms, which are both available via demo.
A variety of account types provides options for beginners getting started and advanced traders looking for lower trading costs. Traders can test all account types via the demo, and a good range of base currencies are available (the currency in which your account is denominated). We had a great experience with support in our tests, open during office hours.
Our examination showed that Tickmill offers tight spreads in some instruments, for example, 0.9 pips in the Dax 40. This makes it easier for traders to achieve profitability when they begin to trade live.
Pros and Cons
Pros
- Licensed by top-tier regulators.
- Wide selection of tradable instruments and supporting tools.
- Competitive fees.
Cons
- Customer support only available during office hours.
Best Low Spreads
4.6
Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
- $100Min Deposit
- 8977Tradable Instruments
- LowFees
Why We Picked It
Sydney-based FP Markets has won over 40 industry awards and has an impressive operating history of 18 years. With entities regulated by top-tier ASIC and CySEC, it earned a high trust score in our review. FP Markets has carved out a niche with rock-bottom spreads in some instruments. For example, in our tests, we measured spreads as low as 1.69 pips in GBP/JPY, which is much better than the industry average.
FP Markets Demo Account Features
- Platforms: MetaTrader 4, MetaTrader 5
- Demo Account Types: Standard, Raw
- Virtual Funds: 100k by default but can be increased by contacting support
- Leverage: 1:500
- Base Currencies: AUD, SGD, EUR, GBP, USD, CAD, PLN
- Demo Account Lifetime: Expires after 30 days of inactivity
FP Markets offers a great range of trading platforms, including MetaTrader 4, MetaTrader 5, WebTrader, IRESS, and a mobile trading app. The demo account is available for each platform.
Demo traders can access trading in CFDs on forex, stocks, indices, commodities, and cryptocurrencies.
The FP Markets Academy, which includes high-quality trading courses, video guides, platform tutorials, and ebooks, is an excellent resource for new traders. We experienced strong support in our tests via online chat. Responsive operators are on hand 24/7 to answer your questions.
Pros and Cons
Pros
- Competitive spreads.
- 24/7 Support.
- Great range of tradable instruments.
- Educational courses.
Cons
- Mobile app is limited.
Best Order Execution
4.6
72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
- $250Min Deposit
- 17252Tradable Instruments
- MediumFees
Why We Picked It
IG is a broker that hardly warrants an introduction. Founded in 1974, the London-based company has established itself as a leader in the financial derivatives industry with its ultra-fast order execution speeds, competitive fees, and a selection of highly versatile trading platforms. IG’s clients can access more than 17,000 tradable instruments across different markets.
IG Demo Account Features
- Platforms: IG Web Trader, MetaTrader 4, L2 Dealer, TradingView, ProRealTime
- Demo Account Types: Trading CFDs, Spread Betting, Barriers and Vanilla Options
- Virtual Funds: up to EUR 10,000
- Leverage: up to 1:30
- Base currencies: USD, EUR, GBP, AUD, SGD, HKD, ZAR
- Demo Account Lifetime: No limitations
I was impressed by IG’s execution speeds which average around 12 milliseconds regardless of traded volume. The broker also provides FIX API solutions for Direct Market Access (DMA) trading. The feature can be used to secure stable connectivity, obtain raw spreads directly from an exchange’s order books, and achieve ultra-fast execution.
I performed my tests on IG’s flagship web platform, which features 70+ technical indicators, drawing tools, and chart configurations. Traders can use it to place all basic order types, including market, limit, and stop. The platform also supports guaranteed stop orders, one-click trading, and an alerts-setting option. Additionally, I enjoyed using IG’s web trader because of its advanced charting capabilities, allowing for a high-definition representation of price action.
IG’s standard Trading CFDs account features commission-free trading (except for shares) and floating spreads starting from 0.6 pips. Trading share CFDs of EU and UK companies involves a 0.10% commission, whereas trading US stocks entails a 0.02 cents per share commission. IG does not impose a handling fee for deposits and withdrawals nor an inactivity fee for dormant accounts.
Pros and Cons
Pros
- 50+ years of experience
- Average execution speed of 12 milliseconds
- Range of feature-rich trading platforms
- FIX API
Cons
- No weekend customer support
Best MT4 Demo Account
Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.
- $0Min Deposit
- 321Tradable Instruments
- MediumFees
Why We Picked It
Founded in 2010, IronFX is a global forex and CFD broker with an impressive range of tradable instruments, tools, and account types. The Cyprus-based broker has entities regulated by top-tier CySEC and FCA and an unregulated offshore entity.
IronFX MT4 Demo Account Features
- Platforms: MT4
- Demo Account Types: Floating Spread, STP/ECN
- Virtual Funds: 500 to 5,000,000
- Leverage: 1:1 to 1:1000
- Base Currencies: USD, EUR, JPY, BTC
- Demo Account Lifetime: Infinite
IronFX offers a MetaTrader 4 demo account that traders can use for an unlimited time. The MT4 demo platform is available via desktop, web, and mobile. A detailed user guide covers everything from getting started to auto-trading and custom indicators.
In our tests, IronFX received a high score for tradable instruments – offering CFDs on forex, commodities, indices, stocks, and cryptocurrencies. CFDs on futures are also available, including futures on metals, giving demo traders a diverse range of markets to test.
The new IronFX School helps to guide the development of demo traders with an easy-to-digest ‘Introduction to Forex’ course in video format and quizzes at the end of each module.
Pros and Cons
Pros
- Seven accounts to choose from.
- Tight spreads in forex pairs.
- Fast deposits and withdrawals.
Cons
- Limited research materials.
Best for Spread Betting
4.6
Trading CFDs and FX Options entail risk and could result in the loss of your capital.
- $100Min Deposit
- 853Tradable Instruments
- MediumFees
Why We Picked It
AvaTrade was founded in 2006, making it an early mover in the forex and CFD industry. The Dublin-based broker has grown tremendously since then and now provides services to 400,000 traders globally. As a broker extensively regulated by multiple agencies globally, AvaTrade received a high score in our trust category.
AvaTrade Spread Betting Demo Account Features
- Platforms: MetaTrader 4
- Demo Account Types: MT4 Spread Betting
- Virtual Funds: 10,000
- Leverage: 1:30
- Base Currencies: GBP/EUR/USD
- Demo Account Lifetime: Expires after 21 days
Spread betting is only available for AvaTrade clients residing in the UK. Profits from spread betting are free from the capital gains tax, making it an attractive opportunity for traders. We examined that AvaTrade’s MT4 Spread Betting demo account provides an easy way for new traders to try it out.
AvaTrade provides a full range of instruments to trade via the Spread Betting account, including forex, commodities, indices, and shares. We evaluated the education section as helpful with actionable content, including specific trading strategies. Reliable 24/5 customer support rounds out a solid offering for spread betting demo traders.
Our hands-on tests showed AvaTrade’s trading fees for forex and commodities are competitive and better than the industry average – a plus for traders who graduate to trading live.
Pros and Cons
Pros
- High trust rating.
- Reliable customer support.
- Over 1,000 tradable instruments.
Cons
- Investor compensation scheme only available in some regions.
Best Overall in the US
4.4
Forex trading involves risk. Losses can exceed deposits.
- $250Min Deposit
- 82Tradable Instruments
- LowFees
Why We Picked It
tastyfx is a new brand name of IG US that provides Americans access to the global forex market with leverage and tight spreads. The company is a part of IG Group, which is listed on the London Stock Exchange (LSE: IGG) and is a member of the FTSE 250.
tastyfx Demo Account Features
- Platforms: tastyfx Web Platform, MetaTrader 4, ProRealTime
- Available Account Types: Standard
- Virtual Funds: Up to $1,000,000
- Leverage: 1:50
- Base Currencies: USD
- Demo Account Lifetime: Unlimited
Since CFDs are not available in the United States, traders are limited to trading forex. An impressive 82 currency pairs are available to trade via the tastyfx demo account, covering majors, minors, Australasian, Scandinavian, exotic, and emerging markets.
The tastyfx WebPlatform is cutting edge and features 1-click trading, advanced order types, news, alerts, and robust charting. Spreads are competitive and better than the industry average. A major perk of the demo account is gaining access to educational srction, which offers interactive courses broken down by experience level to cater to beginner, intermediate, and advanced traders.
Pros and Cons
Pros
- Industry-leading platform.
- Tight spreads.
- Excellent educational materials.
- Automatic rebates.
Cons
- Limited tradable instruments.
Best Futures Trading Platform in the US
4.5
Trading with leverage comes with a high risk and may not be suitable for everyone.
- $100Min Deposit
- 52Tradable Instruments
- LowFees
Why We Picked It
Plus500 is listed on the London Stock Exchange and regulated globally. It launched its futures trading service in 2022 for U.S. residents, offering a wide range of futures contracts with competitive fees and a solid trading platform.
Plus500 US Demo Account Features
- Platforms: Futures Trading App, WebTrader
- Available Account Types: Futures
- Virtual Funds: Up to $1,000,000
- Margin: From $20 per contract
- Base currencies: USD
- Demo Account Lifetime: Unlimited
The Plus500 US trading platforms offer an excellent range of 52 futures contracts covering forex, cryptocurrencies, energy, metals, agriculture, equity indices, and interest rates. Standard contract fees are $0.89, while micro contracts are $0.49 per contract. There are zero platform, routing, deposit, and withdrawal fees.
Traders can use the Futures Trading App or WebTrader platforms, which are both user-friendly and easy to use. The WebTrader platform offers over 100 technical indicators, 11 timeframes, and multiple chart types. Multiple chart windows can be opened on one screen, and it is easy to switch between demo and live accounts.
Pros and Cons
Pros
- Easy-to-use app and web platform.
- Wide range of futures markets.
- Standard and micro contracts available.
- Comprehensive Futures Trading Academy.
Cons
- No telephone support.
How to choose a forex demo account?
Consider the following questions when searching for a suitable forex demo account to work with.
Can I trust the broker?
Take into account the broker’s regulatory status. Forex brokers regulated by top-tier financial authorities must undergo audits, meet capital requirements, and provide segregated accounts and negative balance protection. A compensation fund is sometimes available in the event of broker insolvency.
You can search the regulator’s website to confirm the broker’s status and check for any disciplinary action. The broker’s size and operating history are also worth considering. You can usually find these on the company’s LinkedIn page.
Read more about Best regulated forex brokers.
Is the platform user-friendly?
An intuitive, easy-to-navigate platform will allow you to launch into the trading world with minimal hitches. The most user-friendly platforms are typically browser-based platforms created by the broker. Look for easy-to-implement features such as watchlists, trading from the chart, search, news, and a customizable interface.
The MetaTrader 4 and 5 platforms have advanced features like backtesting, automated trading, and a wide range of order types – but are less user-friendly. Also, check on the availability of a good, broker-designed (proprietary) mobile app. This is especially important as MetaTrader is no longer available on iOS.
Read more about Best MetaTrader 4 brokers and Best MetaTrader 5 brokers.
What type of demo account to choose?
Many brokers offer a selection of account types that cater to different trader profiles. For example, often STP accounts are geared towards beginners or more casual traders and are based on a spread-only pricing model. ECN accounts typically have tighter spreads but charge a commission.
Read more about Best STP forex brokers and Best ECN forex brokers.
Brokers often offer demo accounts for all account types, so you can test each of them to see what works best for you.
Are the spreads competitive?
Working with a broker that keeps costs such as the spread to a minimum can make the difference between profit and loss at the end of the day. For example, a spread of 1 pip or less in EUR/USD is competitive and makes it much less expensive to enter and exit positions in the market. This is a crucial point for day traders. Inactivity fees and fees for withdrawing funds are other areas to keep an eye on when considering a broker.
Check out our list of Best lowest spread forex brokers.
What is the available leverage?
Leverage is one of the most appealing features of CFD trading and can work in your favor when used wisely. Beware of using excessive leverage, even if it is tempting. It’s an enthralling feeling to control a large position in the market. But when markets are moving fast and you are holding a highly leveraged position, there is a high risk of losing money. Accounts can get wiped out in seconds.
Explore Best forex brokers with high leverage.
Is customer support reliable?
As a demo trader in the process of getting oriented in the markets, having solid support on hand is essential. Check the hours of availability, for example, whether help is on hand 24/7 or only during business hours. Chat support is the most convenient, so look for an easy-to-access chat window built into the broker platform. In the case of a platform outage, it is also important to be able to contact support via phone.
Are high-quality educational materials available?
Strong educational materials can provide the guidance needed to succeed in the markets. Look for beginner-friendly materials beyond articles, such as video tutorials, live webinars, and courses.
How to avoid forex and CFD scams?
A common scam in the forex and CFD industry involves vendors offering a trading strategy that guarantees an outlandishly high return in little time. These may involve automated trading using bots or a signal service where trades are shared via chat or social media. Nobody can guarantee returns with certainty, and it is more likely that such strategies will lose money. When assessing strategy or signal providers, you should look for a live track record audited by a third party, but remember that past performance does not guarantee future results.
Traders should also be highly cautious about opening an account with an unregulated offshore broker. Such brokers may offer a straightforward account opening process, bonuses, and high levels of leverage, but client funds are not protected. Meanwhile, brokers regulated by top-tier authorities must undergo regular audits and are held accountable for misconduct. Traders can also benefit from having their funds held in segregated accounts, negative balance protection, and a compensation fund in case of broker insolvency.
Our Methodology
In selecting the best forex demo accounts, we used the results of our advanced proprietary methodology. All of the brokers listed were among the leaders in our tests.
FXEmpire has been reviewing brokers since 2010 and has pioneered the in-depth evaluation of CFD brokers. Our process has taken years to refine and involved hundreds of reviews. We’ve gone to a granular level – with over 250 data points in our analysis of each broker – so you can feel confident in selecting the right platform.
To provide the most comprehensive view, we break down the brokers according to nine different categories:
- Trust
- Fees
- Platforms and tools
- Tradable instruments
- Customer service
- Deposit and withdrawal
- Account types
- Research
- Education
In our broker reviews, we explain complex areas like regulatory status, so you can easily understand your funds’ safety and the benefits guaranteed.
Data is gathered through live testing, research, detailed questionnaires, and in-person broker demonstrations. An account is opened with each broker, focusing primarily on the services of one entity and testing using the most standard account type and platform. We conduct live tests of spreads and measure overnight swap fees and account-related costs.
Our side-by-side analysis reveals whether a broker is competitive in relation to the industry as a whole. Trading platforms take time to master, but we have already done the legwork for you, and our evaluations highlight their important features and usability.
FXEmpire abides by strict guidelines for editorial integrity. Scoring is based on objective criteria and mostly measurable data, so our reviews cannot be swayed by individual preferences or biases. The review process is independent and follows a strict protocol. In addition, all facts are carefully checked and rechecked, as reviews are continually updated. Read more about our review process here.
For this guide, We chose brokers providing demo accounts that closely mimic live trading environments, offering a realistic and educational experience. We confirmed those demo accounts reflect real-time market conditions, allowing for effective practice and strategy testing.. We made sure the brokers feature user-friendly platforms and offer extensive educational resources to aid new traders in learning and strategy development. We also checked the ease of transition from demo to live trading accounts, ensuring a seamless progression for beginners.
Meet our Writers
The team of forex and CFD analysts and editors at FXEmpire comprises trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Get to Know Our Authors
Dan BlystoneBroker Analyst
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan SolankiBroker Analyst
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Plamen StoyanovBroker Analyst
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
Vladimir ZernovBroker Analyst
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
What is a forex demo account?
A demo account with a forex broker offers a way to practice trading in a simulated market environment. They allow traders to develop their strategy risk-free and also become familiar with the software platform.
What are the advantages of opening a demo forex account?
When developing a trading strategy, it is always best to test it in a safe environment first. Once you have developed a profitable strategy, you can start trading live with greater confidence. Demo accounts are also useful as means of familiarizing yourself with the fees, speed of execution, platforms, and other services of a broker.
Are there any hidden risks in demo forex accounts?
Traders cannot lose any real money on a demo account, which may lead them to underappreciate the risks of live trading, such as the psychological strain of risking your own capital.
Can you make a profit from a demo account?
No, you cannot. The profits you earn on a demo account from a successfully executed trade are only indicative of what a position with the same size and leverage would have generated in a real trading environment. These funds cannot be withdrawn to your bank account.
Are forex demo accounts free?
Yes, they are free. And they include live market data along with the charting and tools provided by the platform.
Is there leverage in demo trading accounts?
Yes, there is, and you can adjust the leverage on your demo account. It’s advisable to use the same amount of leverage as you would in a live account so that you get a realistic understanding of what your risk/reward outlook per trade would be in real trading. Keep in mind that excessive leverage is highly risky and can wipe out your account fast.
Do you risk real money by trading on a demo account?
No, you do not risk any real money. The funds on a demo account are simulated.
Does MT4 have a demo account?
Yes. Demo accounts are available for both MT4 and MT5.
Does the MT4 demo account accurately represent real trading scenarios?
The price quotes on a demo account are the same, and the speeds of order execution are similar but may not be exactly the same as when trading live. Also, trading risk-free negates the psychological strain traders feel when trading with their own capital.
Do MT4 demo accounts expire?
Some brokers offer unlimited demo accounts, while others cap the use of a demo account to a specific period, for instance, 30 days. You can always reset your account afterward.
How do I open a demo trading account?
You can get started by visiting a broker’s website, where there will usually be a link to sign up for a demo account.
Can I open a demo account on TradingView?
Yes, it is possible to use the TradingView Protrader platform on a demo account.
Do forex demo accounts expire?
Yes, forex demo accounts often have a limited lifespan. Often they expire after a set period of inactivity.
Is a forex demo account the same as a real one?
Demo accounts offer traders access to a simulated trading environment, where they can learn about the market and develop their strategies. Real trading accounts, in contrast, offer traders access to real markets where they can generate profits or incur losses.
About the Author
Dan BlystoneBroker Analyst
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
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- List of Top Forex Demo Accounts
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