With so many forex brokers in the market, how do you choose the right one? Are you feeling overwhelmed by the options? Here‘s the good news: finding the best fit for you doesn’t have to be complicated. As a new trader, starting with risk-free demo trading is the smartest way to dip your toes. Read this article and follow us to find the demo accounts and platforms of top forex brokers—by the end, youll know exactly where to begin your trading journey!
Best Forex Brokers with Demo Accounts
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Best Forex Demo Accounts Comparison
| Broker | MT4 | MT5 | Other Trading Platform | Account Type | Account Currency | Leverage | Default Balance | Account Duration | Number of Demo Accounts |
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✅ | ✅ | cTrader, TradingView⭐ | Raw, Standard | AUD, USD, EUR, GBP, SGD, CHF, CAD, NZD, JPY, HKD, PLN, ZAR, MXN, BRL⭐ | 1:30 | - | 30 days | - |
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✅ | ❌ | Proprietary web-based, ProRealTime, L2 Dealer⭐ | Default | Default | Default | $20,000 | No limit⭐ | - |
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✅ | ✅ | AvaOptions | Default | USD, EUR, GBP, CHF | Default | $10,000 | 60 days | - |
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✅ | ✅ | ❌ | Default | Default | Default | $5,000,000⭐ | Unlimited (delete dormant account after 30 days) | 5 |
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✅ | ✅ | Default | Default | Default | $10,000 | Expire after 30 days of inactivity | - | |
| Next Generation | No limit ⭐ | ||||||||
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✅ | ✅ | ❌ | Standard STP, Raw ECN | USD, GBP, CAD, AUD, EUR, SGD, NZD, JPY, HKD | 100:1, 200:1, 300:1, 400:1, 500:1⭐ | $1,000, $2,500, $5k, $10k, $25k, $50k, $100k | No limit⭐ | - |
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✅ | ✅ | ❌ | Cent, Crypto, Premium, Contest⭐ | Default | Default | $100,000 | No limit⭐ | No limit⭐ |
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✅ | ✅ | cTrader | Default | AUD, USD, EUR, HUF, GBP, ZAR, CHF, JPY, PLN | Default | $100,000 | 180 days | No limit⭐ |
Best Forex Demo Accounts Reviewed
① FP Markets - Multi-Currency Demo Trading
FP Markets is an Australian-based online brokerage firm that offers various trading instruments including 70+ forex currency pairs, 10,000+ stocks, 19 indices, commodities, bonds, metals, and digital currencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
FP Markets provides clients with access to multiple trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, cTrader, and FP Markets Trading App.
Additionally, the broker offers 24/7 customer support and rich educational resources such as webinars, trading guides, and video tutorials, which can help both novice and experienced traders improve their trading skills.
FP Markets Demo Account
FP Markets supports demo trading on all popular trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and TradingView. Also, you can choose 14 demo account currencies, AUD, USD, EUR, GBP, SGD, CHF, CAD, NZD, JPY, HKD, PLN, ZAR, MXN, and BRL.
But note that the FP Markets demo account is only valid for 30 days.
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FP Markets Demo Account Feature |
| Trading Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView |
| Account Opening Fee | $0 |
| Account Type | Raw, Standard |
| Account Currency | AUD, USD, EUR, GBP, SGD, CHF, CAD, NZD, JPY, HKD, PLN, ZAR, MXN, BRL |
| Leverage | 1:30 |
| Default Balance | - |
| Account Duration | 30 days |
② IG - Multi-Platform Demo Account
Founded in 1974, IG is a UK-registered company regulated by multiple international financial bodies, including the ASIC, FCA, FSA, FMA, MAS, and DFSA. It offers access to 17,000+ markets, including forex, indices, shares, commodities, and cryptocurrencies. The company provides multiple trading platforms, including L2 Dealer, ProRealTime, MetaTrader 4 (MT4), and TradingView.
IG Demo Account
Most brokers offer demo accounts on the MetaTrader platforms, but in addition to MetaTrader 4 (MT4), IG also offers demo accounts on its proprietary web-based platform, ProRealTime, and L2 Dealer, which is very friendly for beginners who want to try different trading platforms.
IG offers free demo accounts with a default balance of $20,000 and no usage limit.
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IG Demo Account Feature |
| Trading Platform | Proprietary web-based, ProRealTime, MetaTrader 4 (MT4), L2 Dealer |
| Account Opening Fee | $0 |
| Default Balance | $20,000 |
| Account Duration | No limit |
③ AvaTrade - Best Beginner-Friendly Demo Account
Avatrade is an online forex and CFD broker that was established in 2006. The company is headquartered in Dublin, Ireland, and is regulated by several financial authorities around the world, including ASIC, FSA, FFAJ, ADGM, CBI, and FSCA.
As a market maker broker, Avatrade offers a range of tradable assets including forex, indices, commodities, crypto CFD, stocks, ETFs, bonds, and FX options. The broker provides clients with access to multiple trading platforms, including AvaTrade Mobile App, WebTrader, AvaSocial, AvaOptions, MetaTrader 4 (MT4), MetaTrader 5 (MT5), and DupliTrade.
AvaTrade Demo Account
Unlike most brokers, AvaTrade provides different trading platforms for different trading assets. If you are a CFD trader, you can open a demo AvaTrade account on both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. If you trade on options, then AvaOptions is your only available demo trading platform. For demo futures trading, MetaTrader 5 (MT5) is offered.
You can enjoy the AvaTrade demo account with virtual funds up to $10,000, and the demo accounts are valid for 60 days.
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AvaTrade Demo Account Feature | ||
| Trading Asset | CFD | Options | Futures |
| Trading Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | AvaOptions | MetaTrader 5 (MT5) |
| Account Opening Fee | $0 | ||
| Account Currency | USD, EUR, GBP, CHF | USD, EUR | |
| Default Balance | $10,000 | ||
| Account Duration | 60 days | ||
④ XM - $5M High-Capital Demo Account
XM is a Forex and CFD broker founded in 2009 and registered in Belize. It is regulated by several internationally renowned financial authorities, including ASIC, CySEC, DFSA, and FSC (Offshore). It offers 1,400+ tradable instruments, including forex, commodities, precious metals, shares, Turbo stocks, equity indices, energies, and thematic indices via the MetaTrader 4 (MT4), MetaTrader 5 (MT5) and the XM App.
XM Demo Account
You can use your XM Demo account for as long as you like, but, if it remains inactive for over 60 days, it will be closed automatically. Even if this happens, you can open a new Demo account anytime. You can also have up to 5 active Demo accounts.
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XM Demo Account Feature |
| Trading Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| Account Opening Fee | $0 |
| Default Balance | $5,000,000 |
| Account Duration | No limit (delete dormant account after 30 days) |
| Number of Demo Accounts | 5 |
⑤ CMC Markets - Unlimited-Time Demo Account on Next Generation Platform
CMC Markets is an established brokerage firm registered in Australia and regulated by FCA, FMA, MAS, and CIRO. With over 30 years of experience (since 1989), they offer 12,000+ trading instruments including forex, indices, commodities, shares, and cryptocurrencies.
Traders can access their services through the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), as well as the CMC Next Generation Platform. They also have a strong customer support system, and provide various educational resources to assist traders in their financial journey.
CMC Markets Demo Account
You can open CMC Markets demo accounts on MetaTrader 4 (MT4), MetaTrader 5 (MT5), or CMC NextGen platforms. The MT4 and MT5 demo accounts are available for an initial period of 30 days and will expire after 30 days of inactivity, while the Next Generation demo account has no expiry date.
The default demo balance is $10,000.
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CMC Markets Demo Account Feature | |
| Trading Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | Next Generation |
| Account Opening Fee | $0 | |
| Default Balance | $10,000 | |
| Account Duration | Initial 30 days and will expire after 30 days of inactivity | No limit |
⑥ Vantage - Flexible Leverage Demo Account
Vantage is an online forex broker that offers trading services for individuals and institutions around the world. The company was founded in 2009 and is headquartered in Australia, with additional offices in the United Kingdom, the Cayman Islands, and China. Vantage provides a variety of trading instruments, including 1,000+ CFDs on forex, indices, precious metals, soft commodities, energy, ETFs, share CFDs, and bonds, and offers two trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Besides, the broker also provides rich and solid educational resources.
Vantage Demo Account
Vantage offers free demo accounts, which allow you to trade in a risk-free environment with virtual funds up to $100k. There is no expiry date and you can have two demo account types, demo Standard STP and demo Raw ECN.
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Vantage Demo Account Feature |
| Trading Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| Account Opening Fee | $0 |
| Account Type | Standard STP, Raw ECN |
| Account Currency | USD, GBP, CAD, AUD, EUR, SGD, NZD, JPY, HKD |
| Leverage | 100:1, 200:1, 300:1, 400:1, 500:1 |
| Account Balance | $1,000, $2,500, $5k, $10k, $25k, $50k, $100k |
| Account Duration | No limit |
⑦ HFM - Diverse Demo Accounts + Contest
HFM, a trading name of HF Markets Group, founded in 2010, is a financial broker that provides both individual and institutional clients with online trading services. HFM has been headquartered in Cyprus but serves several global offices in Dubai, South Africa, and offshore entities in St Vincent and the Grenadines. It offers multiple trading instruments, including CFDs on forex, metals, energies, stocks, indices, bonds, commodities, ETFs, and cryptocurrencies on the MetaTrader 4 (MT4), MetaTrader 5 (MT5), and HFM Trading App.
HFM Demo Account
HFM offers demo accounts on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The virtual opening balance is up to $100,000, and the usage is unlimited.
Like HFM live trading accounts, there are also multiple HFM demo account choices: Demo Cent, Demo Crypto, Demo Premium, and Demo Contest.
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HFM Demo Account Feature |
| Trading Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| Account Opening Fee | $0 |
| Account Type | Demo Cent, Demo Crypto, Demo Premium, Demo Contest |
| Default Balance | $100,000 |
| Account Duration | No limit |
| Number of Demo Accounts | No limit |
⑧ FxPro - Unlimited Demo Accounts
Founded in 2006, FxPro is a reputable UK-based broker, offering trading on forex, crypto CFDs, metals, indices, futures, energy, and shares via the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader platforms, as well as its proprietary platform, FxPro WebTrader and FxPro Mobile App. In addition to its trading services, FxPro provides clients with a comprehensive knowledge hub, which contains all kinds of educational resources, friendly for both beginners and professionals.
FxPro Demo Account
FXPro offers a 180-day lifespan demo account with up to 100k in virtual funds that allows you to test your trading strategies and get a feel for the platform's features and functionality without risking any real money.
You may open as many demo accounts as you wish. Demo accounts can be recharged with funds via FxPro Direct. However, please note that demo accounts will be deactivated after 180 days. Also, FxPro MT4 and MT5 demo accounts are limited to a maximum of 70 open positions.
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FxPro Demo Account Feature |
| Trading Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
| Account Opening Fee | $0 |
| Account Currency | AUD, USD, EUR, HUF, GBP, ZAR, CHF, JPY, and PLN |
| Default Balance | $100,000 |
| Account Duration | 180 days |
| Number of Demo Accounts | No limit |
Write at the End - Tips for Using Demo Accounts
Mastering forex trading begins with risk-free practice, and demo accounts are your ultimate training ground. While each broker highlighted in this article offers unique strengths—from XM‘s $5M virtual funds to CMC Markets’ unlimited time—the “best” choice ultimately depends on your goals.
Although demo accounts present real market conditions and prices, please keep in mind that they are simulations and cannot always reasonably reflect all of the market conditions as during highly volatile or illiquid periods (e.g. market openings, news announcements) they may not behave in the same manner as live accounts. Also, don't neglect the psychology involved.
It is strongly recommended that demo accounts are viewed solely as a learning tool or a place for familiarize yourselves with the trading platforms and testing new trading strategies. Once youve achieved 3-6 months of profitable simulated results, transition cautiously to live trading with micro accounts.
FAQs
1. What is a demo trading account and why use it?
A demo account is a risk-free simulation using virtual funds to practice trading on real-market platforms. Its designed for:
Beginners: Learn platform mechanics without financial risk.
Experienced traders: Test new strategies or tools in real-time conditions.
2. What are the advantages of forex demo accounts?
Zero Financial Risk: Trade with virtual money, no capital required.
Platform Mastery: Familiarize yourself with tools like MT4/MT5 or proprietary platforms.
Strategy Validation: Test trading systems objectively before risking real funds.
Market Insight: Observe price movements and economic event impacts without emotional pressure.
3. Are demo accounts completely free?
Yes. Demo accounts use virtual money, requiring no deposits or financial risk.
4. How long do demo accounts last?
Varies by broker:
No expiry: IG, XM, CMC Markets (Next Generation platform), Vantage, HFM
Time-limited: FP Markets (30 days), AvaTrade (60 days), FxPro (180 days)
Activity-based: XM (unlimited time, but will delete dormant account after 30 days), CMC Markets (MT4/MT5 - expire after 30 days of inactivity)
5. Can I make money on a forex demo account?
No. Although you make profits through a demo account, you can not withdraw because they are virtual funds, not real money. Demo accounts are only for testing, not for making money.
6. Is demo trading realistic compared to live markets?
Yes and no:
Realistic: Prices and execution mimic live markets.
Limitations: No emotional pressure; slippage/requotes may differ.
7. Can I switch from a demo to a live account easily?
Most brokers let you convert demo accounts to live trading with the same login, but reset your balance to your initial deposit.
8. Are the brokers mentioned above suitable for real trading?
Yes. All brokers mentioned in this article are suitable for real trading. They are all regulated well and offer multiple security measures to protect their clients' funds. However, the trading conditions of these brokers are different. You can choose based on your needs. Find details in the table below:
| Broker | Regulators | Segregated Account | Negative Balance Protection | Minimum Deposit | Max Leverage | Avg EUR/USD Spread |
| FP Markets | ASIC, CySEC | ✅ | ✅ | A$100 or equivalent | 1:500 | 1.0 pips |
| IG | ASIC, FCA, FSA, FMA, MAS, DFSA⭐ | ✅ | ✅ | $0⭐ | 1:400 | 0.6 pips⭐ |
| AvaTrade | ASIC, FSA, FFAJ, ADGM, CBI, FSCA⭐ | ✅ | ✅ | $100 | 1:30 (retail)/1:400 (professional) | 0.9 pips |
| XM | ASIC, CySEC, DFSA, FSC (Offshore) | ✅ | ✅ | $5 | 1:1000 | 0.8 pips |
| CMC Markets | FCA, FMA, CIRO, MAS | ✅ | ✅ | $0⭐ | 1:200 (retail) | 0.6 pips⭐ |
| Vantage | ASIC, FCA, CIMA/VFSC (Offshore), FSCA (General Registration) | ✅ | ✅ | $50 | 1:500 | 1.1 pips |
| HFM | CySEC, FCA, DFSA, FSA (Offshore) | ✅ | ✅ | $0⭐ | 1:2000⭐ | 1.2 pips |
| FxPro | CySEC, FCA | ✅ | ✅ | $/€/£100 | 1:500 | 1.3 pips |
Disclaimer
Trading Forex (foreign exchange) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, risk appetite, and the possibility of incurring losses. There is a possibility that you may sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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