Demo Account Brokers

  Author: Eduardo Montero - Updated: 5 January, 2023 No Comments

Broker	Features
Featured Go to XTB	Excellent 24-hour customer service. More than 3000 instruments to trade. Regulated broker. OPEN ACCOUNT (*) Warning: Your capital is at risk. 80% of retail CFD accounts lose money. XTB offers a free demo account for 4 weeks of use. You can convert it to unlimited if you open a live account. Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: xStation5, iOS App, Android App. Execution: Market Maker / STP Regulation: FCA, CNMV and IFSC Web Page: https:/www.xtb.com
Featured Go to Pepperstone	Very low spreads on over 1,200 instruments. 24/7 support, fast execution and no requotes. OPEN ACCOUNT (*) Warning: Between 74-89 % of retail investor accounts lose money when trading CFDs. The Pepperstone demo account is free and limited to 30 days of use (unlimited if you open a real account and request it to support). Demo Account: Yes Minimum Deposit: 200 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView. Execution: STP / NDD Regulation: FCA, ASIC, CySEC, BaFin, DFSA, CMA and SCB Web Page: https://www.pepperstone.com
Featured Go to eToro	Buy stocks without commission. Automatically copy the best investors with the eToro CopyTrader tool. OPEN ACCOUNT (*) Warning: 78% of retail CFD accounts lose money. eToro offers a free demo account with unlimited trading time. Demo Account: Yes, unlimited Minimum Deposit: 200 $ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: FCA, CySEC and ASIC Web Page: https://www.etoro.com
Go to XM Group	Bonus of $30 without deposit and bonuses of up to $5,000 per deposit. Trade Forex with ultra-low spreads. OPEN ACCOUNT (*) Clients registered with XM Group's EU-regulated entity do not have access to the bonds. XM broker allows you to open a free demo account, select the available balance and it is unlimited. Demo Account: Yes, unlimited Minimum Deposit: 5 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker Regulation: CySEC, FSC and ASIC Web Page: https://www.xm.com
Go to IC Markets	True ECN account with ultra-low spreads and ultra-fast execution designed for scalping and automated trading systems. OPEN ACCOUNT IC Markets offers a free demo, which allows you to choose your initial balance, with unlimited use (but will be deactivated if you have no activity within 30 days). Demo Account: Yes Minimum Deposit: 200 $ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: ECN Regulation: ASIC, CySEC and FSA Web Page: https://www.icmarkets.com
Go to AvaTrade	One of the most regulated brokers worldwide (in 9 different jurisdictions). OPEN ACCOUNT The AvaTrade demo account is free and lasts for 21 days (which you can extend by contacting customer support). Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, iOS App, Android App. Execution: Market Maker Regulation: Central Bank of Ireland, ASIC, BVI, FSCA and FSA Web Page: www.avatrade.com
CFD Service Go to Plus500	Broker with more than 23 million registered customers since its inception and a Trust Pilot Score of 4.2 out of 5. OPEN ACCOUNT (*) Warning: 86% of retail CFD accounts lose money. You can open a demo account with Plus500 in seconds without any personal or bank details. It is free and unlimited. Demo Account: Yes, unlimited Minimum Deposit: 100 €/$ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: FCA, CySEC, ASIC, FSCA, DFSA and FSA Web Page: https://www.plus500.com
Go to IQ Option	$1 minimum investment. Powerful and intuitive trading platform. Fast withdrawals. OPEN ACCOUNT (*) Warning: Your capital might be at risk. The IQ Option demo account is free of charge and unlimited. Demo Account: Yes, unlimited Minimum Deposit: 50 €/$ Trading Platforms: Proprietary Platform, iOS App, Android App. Execution: Market Maker Regulation: CySEC Web Page: https://www.iqoption.com
Go to Exness	Low spreads as low as 0.0 pips. No swaps on most instruments. Instant withdrawals. OPEN ACCOUNT The Exness demo account is free and you can use it for as long as you need (the MT4 demo expires after 180 days of inactivity and the MT5 demo expires after 21 days of inactivity). Demo Account: Yes Minimum Deposit: 10 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker / ECN Regulation: FCA, CySEC, FSCA, FSC, CBCS, FSA and SDL Web Page: https://www.exness.com
Go to Eightcap	OPEN ACCOUNT Eightcap offers a free demo account that you can use to try out its services and test trades for 30 days. Demo Account: Yes Minimum Deposit: 100 $ Trading Platforms: MetaTrader 4, MetaTrader 5, TradingView. Execution: STP / ECN Regulation: ASIC and SCB Web Page: https://www.eightcap.com
Go to Axi	OPEN ACCOUNT The Axi broker offers a 30-day trial account completely free of charge. Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: MetaTrader 4. Execution: STP / ECN Regulation: FCA, ASIC, FSA and DFSA Web Page: https://www.axi.com
Go to RoboForex	$30 welcome bonus with a minimum deposit of $10 and bonuses up to $50,000 per deposit. OPEN ACCOUNT The broker RoboForex offers a demo account for trading in simulation mode which is free and unlimited. Demo Account: Yes, unlimited Minimum Deposit: 0 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, cTrader, iOS App, Android App. Execution: STP / ECN Regulation: IFSC Web Page: https://www.roboforex.com
Go to FP Markets	OPEN ACCOUNT FP Markets offers a free demo account, with no time limit, but will be deleted if inactive for more than 30 days. Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, IRESS. Execution: ECN Regulation: ASIC, CySEC and FSP Web Page: https://www.fpmarkets.com
Go to OANDA	Deposit bonus up to $5,000. OPEN ACCOUNT The online broker Oanda offers a free demo account with no time limit. Demo Account: Yes, unlimited Minimum Deposit: 0 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker Regulation: FCA, ASIC, NFA, IIROC, MFSA, BVI FSC Web Page: https://www.oanda.com

What are the best brokers with demo accounts?

One of the best ways to learn how to invest in the stock market and familiarise yourself with the different trading platforms each online broker offers is to open a demo account to get started.

Demo accounts are trading accounts that generally offer the same features and functionalities as a real account, but come pre-loaded with a certain amount of fictitious money . In other words, they are trading accounts in simulation mode, with a fictitious capital that you can use to test trades without having to make a deposit or put your money at risk.

Basically, we could summarise the benefits of starting to invest in a demo account in the following points:

• It allows you to familiarize yourself with the trading platform: so that you can master it, as it is the main tool of this profession.
• If you are a beginner trader, you will be able to gain experience in the financial markets before you start risking money.
• You will have the opportunity to test trading strategies to prove their soundness.
• You will be able to test the conditions offered by your broker in practice.

Most Forex and CFD brokers offer the possibility to open a demo trading account, as it is a practical way for traders to test their trading platforms and see the trading conditions before they start investing with real money.

Trading platforms for investing in the stock market can vary from broker to broker. Many brokers offer Metatrader 4 platform, or MetaTrader 5, integrating their trading conditions into it. Others, however, choose to develop and offer their own trading platform, which may be more convenient and intuitive for novice or less experienced traders.

In short, the possibility of testing the trading platform on a demo account is a good way to find out if the platform will suit your needs before you deposit your money and start investing.

The balance of the demo account varies depending on each online broker and its policy in this regard, but it is always more than enough to test, as a general rule. Some brokers do not impose any time limit on the use of the demo account (you can even use a live account and a demo account simultaneously to test new trading strategies on the demo account while trading on the live account). Other brokers choose to set a time limitation (15 days, 1 month, etc.); or close the demo account in case of inactivity.

In any case, the demo account today is an extremely useful tool for risk-free practice and very popular with traders all over the world. Whatever your country (United Kingdom, South Africa, Australia, Saudi Arabia, Abu Dhabi, Dubai, Kuwait, New Zealand, India, Thailand, Malaysia, Taiwan, Singapore,…) there are online brokers that offer this type of account for you to test their services.

The demo account is a simulator, and should be understood as such. Our recommendation is that you use the demo account only to familiarise yourself with the trading platform: most beginners usually start trading on the demo account without too much control, without any pressure or fear of losing as their money is not at stake. The ideal way to learn to trade is that once you have seen how the platform works, you move to a live account and start trading with small amounts of money and a lot of caution, this way, you will learn to be disciplined, to analyse trades carefully and to develop your own trading method.

In this regard, it is important to note that you need to trade with discipline on a demo account, just as you would on a live account. Otherwise, you will not get the full potential of this tool and mistakes will not be corrected, dragging them into your real trading. The fact of not having the feeling that we are risking real capital can lead the trader to carry out an ill-advised operation.

After having tested and analysed numerous online brokers, the ones you can see in the comparison table above are what we consider to be the best brokers with demo accounts where you do not need to make a deposit beforehand.

References and sources:

• Demo Account
• Why Demo Trading is Different from Live Trading
• Download MT4 and Open MetaTrader 4 Demo Account Without a Broker

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About the author: Emontero

I am Eduardo Montero. Computer scientist by profession and passionate about online trading with more than 10 years of experience in the financial markets. I publish articles on various financial websites and I have created this website in order to help those interested in the world of trading. The content is based on my personal experience as a trader, learning from the successes and above all the mistakes I have made over the years and always prioritising risk control of operations as, from my point of view, it is the only way to achieve sustainable results over time.

The content of this website is purely informative, it should not be considered as investment advice and we do not offer financial advisory services. You should bear in mind that you are the one who will make your financial decisions and you will be responsible for the outcome of those decisions.