HomeForex Account TypesBest Brokers for Demo Accounts 2020

Best Brokers for Demo Accounts 2020

Brokers that offer demo accounts do so to enable traders to practice on a virtual environment before going live.

For the trader, it is a chance to get to know the broker’s offering, market conditions, and the financial products to trade with. For the broker, it is a chance to learn the trading style, what to expect in the future in terms of commissions and earn the personal data to use later in marketing campaigns.

Top Brokers with Demo Accounts

1
Min. Deposit
$100
Exclusive promotion
Our score
10
Leverage
30:1
New accounts
Spreads
0.7
PIPs
Regulations
NFA, CFTC, FCA
Forex Pairs
80+
No Fee
Start trading
Pros:
Open an account in less than 5 minitues with the global Market leader since 2001
Trade on one of the world's most popular trading platforms with access to dedicated support and integrated trading tools exclusive to FOREX.com
We’ve spent over a decade investing in technology and building a deep network of liquidity partners, so we can consistently quote tight spreads in most market conditions.
Payment methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Full regulations list:
NFA, CFTC, FCA, FSA, IIROC, CIMA, FFA Japan, MAS, SFC of Hong Kong
Forex trading involves significant risk of loss and is not suitable for all investors.
2
Min. Deposit
$10
Exclusive promotion
Our score
9.3
Leverage
500:1
New accounts
Spreads
0.8
PIPs
Regulations
Forex Pairs
55+
No Fee
Start trading
Pros:
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Payment methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
3
Min. Deposit
$200
Exclusive promotion
Our score
8.7
Leverage
500:1
New accounts
Spreads
0.5
PIPs
Regulations
FSPR, FMA New Zealand
Forex Pairs
27+
No Fee
Start trading
Pros:
BlackBull Markets’ unique feature lies in its stated goal of delivering an “institutional” trading experience to retail clients
No-Dealing Desk Broker (NDD), with Straight Through Processing (STP) all done on a true ECN
State of the art Equinix servers, based in New York (NY4), London (LD5) and Tokyo (TY3)
Payment methods
Mastercard, Visa, Bank Transfer, Neteller, Skrill, UnionPay, FasaPay
Full regulations list:
FSPR, FMA New Zealand
4
Min. Deposit
$10
Exclusive promotion
Our score
8.5
Leverage
500:1
New accounts
Spreads
0.7
PIPs
Regulations
Forex Pairs
170+
No Fee
Start trading
Pros:
0% Commission Account
Low Spreads
Eco-Account Option
Payment methods
Bitcoin, Credit Card, Debit Card
Full regulations list:
Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.
5
Min. Deposit
$250
Exclusive promotion
Our score
7.9
Leverage
400:1
New accounts
Spreads
0.25
PIPs
Regulations
CFTC
Forex Pairs
11+
No Fee
Start trading
Pros:
Regulated by CFTC
Low fees and minimums
A good selection of educational content, including videos and webinars
Payment methods
ACH, Debit Card, Wire Transfer
Full regulations list:
CFTC
Trading on Nadex involves financial risk and may not be appropriate for all investors.
6
Min. Deposit
$10
Exclusive promotion
Our score
7.8
Leverage
500:1
New accounts
Spreads
0.7
PIPs
Regulations
Forex Pairs
55+
No Fee
Start trading
Pros:
Can fund with BTC
64 global companies including Netflix and Amazon
Free deposits and withdrawals
Payment methods
Credit Card, Debit Card, Bitcoin, Wire Transfer
Full regulations list:
EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment. Please ensure you fully understand the risks involved with leveraged trading and ensure this is not detrimental to your personal or institution's financial well being.
7
Min. Deposit
$250
Exclusive promotion
Our score
7.5
Leverage
30:1
New accounts
Spreads
0.7
PIPs
Regulations
CySEC
Forex Pairs
45+
No Fee
Start trading
Pros:
No commission charged to clients
Over 250 instruments available
Regular Webinars, education and video tutorials
Payment methods
Bank Wire, Credit Card, Skrill, Neteller
Full regulations list:
CySEC
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

No expiration demo accounts are traders’ most preferred accounts since they save time and efforts when it comes to strategy testing over a long period of time.

In the FX market, some Forex brokers will offer a demo account that will expire within 30 days no matter what. Some will keep your account alive as long as there is trading activity in place (although a simple pause of a few weeks might result in expiration).

The best option is to have a Forex demo account that never expires!

But Forex brokers like to keep their client databases clean & filled only with active users. We can’t blame them either.

Below if the list of Forex brokers, who offer the best conditions when it comes to Demo account expiration.

Use Shift+ to sort multiple columns

Forex broker Demo expiration MT4 demo Other demo platforms Special conditions
FXTM No expiration no none
Alpari International No expiration no none
BDSwiss No expiration no none
1BillionForex No expiration no none
24FX No expiration Web Trader none
AAAFx No expiration no Demo expires only after 2 weeks of inactivity
AccentForex No expiration no Visiting demo once in fortnight at least is required to keep it open
Admiral Markets No expiration MT5, Web Trader none
AGEA No expiration Streamster none
AGM Markets No expiration MT5 Demo expires only after 20 days of inactivity
AL Trade 90 days Mobile none
Alfa Financial No expiration no none
ALVAST TRADE No expiration no none
AmigaFX 90 days Web Trader, Openbook none
Axiory No expiration no Demo expires only if not used for 14 days
AxiTrader No expiration no No expiration demo is available only for clients with live accounts, otherwise demo expires in 30 days
Blackwell Global No expiration no Demo expires only if not used for 30 days
BMFN 90 days Mobile, Currenex, BMF Pro, UniTrader none
BTFX No expiration Web Trader none
Bulbrokers No expiration BONO none
CFD1000 No expiration Web Trader, Sirix none
CIM Bank No expiration FXCM Trading Station Demo expires only if not used for 60 days
CMC Markets No expiration Web Trader, Mobile none
ContinentalFX No expiration Mobile none
Core Liquidity Markets No expiration Web Trader none
Darwinex No expiration no Demo expires only if not used for 30 days
Deltastock AD No expiration Delta Trading none
DF Markets No expiration Web Trader none
Divisa Capital No expiration Currenex Demo expires only if not used for 30 days
DMM FX No expiration Web Trader none
Dukascopy No expiration JForex, Java, Web, bridge to MT4 Demo expires only if not used for 14 days
eToro No expiration Web Trader, Openbook, Mobile none
EXNESS 1 year MT5 none
FBS No expiration MT5, Mobile none
FirewoodFX No expiration no Demo expires only if not used for 30 days
Forex Brokers Inc No expiration Web Trader, Mobile Demo expires only if not used for 30 days
Forex Club No expiration Rumus, ActTrader, StartFX 2 none
RallyTrade No expiration xStation Demo expires if not used for 1 month
Forex.ee No expiration no none
Forex4you No expiration Mobile Demo expires only if not used for 60 days
ForexMart No expiration no none
FOREXYARD No expiration no none
Formax Prime Capital (UK) No expiration no none
FP Markets No expiration no Live accounts are able to get a free non-expiration demo accounts upon request
Friedberg Direct No expiration FXCM Trading Station Demo expires only if not used for 60 days
FX Choice No expiration Mobile none
FXCC No expiration Mobile none
FXCH No expiration no none
FXCM No expiration FXCM Trading Station, Web Trader, Mobile Demo expires only if not used for 60 days
FXOpen No expiration no Demo expires only if not used for 30 days
FxPlayer No expiration Currenex, UniTrader, ActTrader, FxPlayer Trader none
FXPro No expiration cTrader none
GKFX No expiration no Demo expires only if not used for 90 days
Golden Tangent No expiration no none
HighSky Brokers No expiration MT5 none
HiWayFX No expiration no Demo expires only if not used for 30 days
IC Markets No expiration MT4, MT5 none
IC Markets Forex Rebates No expiration MT4, MT5 none
ICM – iTrade Capital Markets No expiration ActTrader none
InstaForex No expiration MT5, Mobile none
INTFX No expiration no none
Investorseurope No expiration Currenex none
Lider Forex No expiration FXCM Trading Station Demo expires only if not used for 60 days
IronFX No expiration Web Trader, Mobile none
IV Brokers No expiration no none
KAWASE No expiration cTrader none
Key To Markets No expiration KTM Trader none
LAND-FX No expiration no none
LiteForex No expiration MT5 none
LMFX No expiration Web Trader none
Lucror FX No expiration no none
Markets.com No expiration Web Trader, Mobile, MarketTrader none
MaxFX No expiration cTrader none
MAYZUS No expiration Currenex none
MB Trading No expiration MB Desktop Pro, Mobile, Mac, Web Trader none
MFX Broker No expiration Mobile none
NoaFX No expiration no Demo expires only if not used for 30 days
OANDA No expiration Web Trader, Mobile none
PaxForex No expiration Mobile none
Pepperstone No expiration MT5, Web Trader, cTrader To be activated if requested via support (email, chat)
PhillipCapital No expiration Mobile none
Plus500 No expiration Mobile, Windows Trader, Web Trader none
Profiforex No expiration no Demo expires only if not used for 14 days
Real Trade No expiration Mobile Demo expires only if not used for 14 days
RoboForex No expiration Currenex none
SaudiQuote No expiration GTX none
StoxMarket No expiration Web Trader none
Sunbird No expiration no none
SVSFX No expiration Tradable Demo expires only if not used for 30 days
TFIFX No expiration no none
ThinkMarkets No expiration SpeedTrader Demo expires only if not used for 30 days
Tickmill No expiration Mobile none
Tifia No expiration Mobile none
Tradenext No expiration ActTrader none
Traders Trust No expiration Mobile none
Trader’s Way No expiration cTrader none
TradeStation Securities No expiration Tradestation, Web none
Trading 212 No expiration Trading 212 Pro none
Tradize No expiration no none
USGFX No expiration no Demo expires only if not used for 30 days
Valutrades No expiration Tradable No expiration demo is available upon opening a live account
VARIANSE No expiration no none
Vinson Financials No expiration MT5 none
Wenn Markets No expiration no none
WH Selfinvest No expiration WHS Futures none
Windsor Brokers 90 days no none
XM No expiration no none
ZAR FX No expiration no none

Do you know another Forex broker that offers no-expiration Forex Demo accounts?

Please suggest by adding a comment below.


What Is a Demo Account?

A demo account is a virtual trading account used for practice. It comes in handy both for rookie traders as well as experienced ones.

When using one, traders get to know the broker and how trading with them could go. Therefore, it is a simulation of live markets, having similar conditions as the ones offered with a live account. It is, in a way, a broker’s free sample of its services, so the trader may decide if it is worth opening a live account or not.

How Can You Use a Demo Account?

The main use of a demo account is to learn the general market and broker’s conditions. It is the place to make mistakes for free, build a profitable strategy and implement it afterwards in a live trading account.

Experienced traders evolve with time. As the trader grows and gets more comfortable, they will look to try new strategies. A demo account offers an environment to test them before putting them into practice on a live one.

Forex Demo Account
Source: one photo | Shutterstock.com

Pros and Cons of a Demo Account

Pros:

  • Learn the broker’s offering
  • Free place to learn trading
  • Find out the general market conditions, how spreads vary during various times of the day
  • Build and test strategies without the pressure to succeed

Cons:

  • Sometimes the demo account conditions differ slightly from the live ones
  • Grow bad habits

Factors to Consider When Choosing a Broker for a Demo Account

It is essential to know that in some cases, the demo accounts are sometimes set with an expiry date. For instance, a brokerage house may offer a demo account but only for a month or even less. The trader has the option to fund a live account after that period.

Another thing to consider that refers to market prices. Spreads and execution may slightly differ from real trading accounts, making it difficult to test automated scalping trading strategies, for instance.

Conclusion

It is always good to have access to a demo account, regardless of the trading style and or experience. It offers a way to test new strategies while having no risk of losing capital.

By having access to a demo account, it is a way to validate your decision to be a trader. Also to see if the broker you have the demo with can be a broker you feel comfortable with having your actual money in.

FAQ’s

Is there any risk involved when trading on a demo account?

No. Trading on a demo account is risk-free, at no costs whatsoever for the trader.

Are commissions and other fees similar on a demo account and on a live one?

Yes. The demo account fully reflects the trading costs.

Is it complicated to open a demo account?

It depends from broker to broker. Typically no, this is a simple process requiring only basic personal information (email address, phone number, etc.)

How long does it take to open a demo account?

Not much. Most brokers can give you access to a demo account in a matter of minutes.

 

 


There are various other account types that brokers do offer, see below a list of some of the most popular: