Below is the list of forex brokers with free demo accounts. Forex demo accounts are free of charge and usually have the same features as the real forex accounts. You can practice your forex trading skills with demo accounts before you start trading for real. Most forex demo accounts include a fully functional trading software with real time forex rates, professional forex charts, forex news, indicators and other necessary forex trading tools.
The benefits to opening a Forex demo account are clear. First of all you can learn how to use the trading platform of a selected forex broker and get to know forex market. It's much better then opening a real trading account without even knowing how the platform works, how to use the tools and where those tools can actually be found! We strongly suggest practicing everything on the demo platform before you decide switching to live forex trading. The second benefit of forex demo accounts is that forex market is an exciting and therefore extremely volatile market. With demo accounts you can develop a feel for forex market and learn how to use the charts and therefore increase your chances of profiting from forex trading once you start trading for real money. There is no cheaper way of gaining market experience than with free forex demo accounts!
Trade FX with a Demo Account
|Brokers Reviews||Rating||Demo||Leverage||Bonus||Platforms||Min Deposit||Payments|
|OctaFX||9||yes||1:500||up to 50%||MetaTrader 4, Metatrader 5, cTrader||5||Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay|
|2invest||8||yes||1:200||Samsung Galaxy, iPhone||Metatrader 4||200||Skrill, Neteller, Credit Cards|
|LiteForex||7||yes||1:500||30% + 15%||Metatrader 4, Metatrader 5, WebTerminal||10||credit cards, wire transfer, litecoin, bitcoin, skrill, neteller, perfect money, ok pay, qiwi, wallet one|
|InstaForex||7||yes||1:1,000||$100 No Deposit Bonus||MetaTrader 4, Metatrader 5, Webtrader||1||Bitcoin, CashU, credit cards, EgoPay, Neteller, Skrill, Ukash, UnionPay, WebMoney, wire transfer|
|XM||7||yes||1:888||$30 no deposit||MetaTrader 4, Metatrader 5, XM Webtrader||5||Credit Card (Visa, Visa Electron, MasterCard, Switch, and Solo), Neteller, Skrill, Wire Transfer, Western Union, MoneyGram, WebMoney, China UnionPay, Local Bank Transfer, SOFORT, iDEAL, paysafe card, QIWI, CASHU, ABAOOS, MONETA, giro pay,Przelewy24,l Astro Pay Card, FasaPay|
|Pepperstone||7||yes||1:500||100% Match Bonus||Metatrader 4, Metatrader 5, cTrader, cAlgo, cMirror||200||bPay, credit cards, Paypal|
|AvaTrade||6||yes||1:400||100%||AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptions||100||Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney|
|FP Markets||6||yes||1:500||10% credit bonus||MetaTrader 4 (MT4), IRESS, Mobile trading||200||credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer|
|TradeFW||6||yes||1:30||https://www.forexexplore.com/forex-brokers/tradefw-review||0||Bank wire, Credit/Debit Card.|
|FxPro||5||yes||1:500||up to $1,000||FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium||100||Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill|
|FXCM||5||yes||1:200||-||Trading Station II, MetaTrader 4, Active Trader, Forex System Selector||250||Credit/Debit card, Online Check, Bank Wire, Paper Check|
|Plus500||5||yes||1:200||30%||Plus500||500||Skrill, Credit Cards, Wire Transfer|
|IronFX||5||yes||1:500||40%||Metatrader 4||100||credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer|
|Dukascopy||4||yes||1:500||-||Dukascopy||250||Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts|
|Forex.com||4||yes||1:200||-||ForexTrader platform (in-house), MetaTrader 4||50||wire transfer, Credit/Debit Card, Check|
|HYCM||4||yes||1:400||25% up to $5,000||Metatrader 4||100||credit cards, wire transfer, Skrill, webmoney|
|AdvancedMarkets||4||yes||1:50||-||Advanced Trader/Pro/Prime, Fortex FX||500||Wire, Check|
|CMTrading||4||yes||1:400||15% match||MetaTrader 4, Sirix||200||credit/debit cards, Wire transfer, CashU ,Skrill|
|Blueberry Markets||4||yes||1:500||MetaTrader 4||100||credit cards, wire transfer, POLi, Skrill|
|Priorfx||4||yes||1:200||Metatrader 4, Webtrader, Autotrade||250||wire transfer, credit cards, Skrill, Neteller, PriorFX prepaid card, Yandex, Webmoney, Qiwi, UnionPay|
|FXDD||3||yes||1:200||-||MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtreme||100||Wire, PayPal, Check, BPS|
|Tallinex||3||yes||1:1,000||Metatrader 4||100||credit cards, wire transfer, Skrill, Neteller|
|Oanda||3||yes||1:50||Metatrader 4, FXtrade||1||check, Credit cards, PayPal, Wire transfer|
|iFOREX||3||yes||1:400||-||FXnet Trader||100||credit cards, wire transfer|
|DFMarkets||3||yes||1:200||10% Trading Credit Promotion up to $1,000||DFTrader, DF WebTrader, DF Mobile||100||Bank wire, Credit/Debit cards|
|Tickmill||3||yes||1:500||-||MetaTrader 4, Webtrader||100||wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney|
|TenkoFX||3||yes||1:500||MetaTrader 4, Webtrader||10||Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi|
|Z.com Trade||3||yes||1:200||Z.com trader web, Z.com trader pro (demo account only)||1||credit cards, wire transfer, china unionpay, skrill|
|AGEA||2||yes||1:500||-||Streamster, MetaTrader 4||1||Credit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money|
|CMCMarkets||2||yes||500:1||-||Next Generation web-based||1||Credit cards, Wire Transfer|
|ActivTrades||2||yes||1:400||Metatrader 4, Activtrader||100||Credit Card, Wire transfer, neteller, skrill, sofort|
|Hotforex||2||yes||1:1,000||100% bonus||Metatrader 4, mobile platform, rapid trader fix/api||5||credit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay|
|Alpari||2||yes||1:500||50% Welcome||MetaTrader 4||1||Debit or Credit Card, Wire Transfer|
|FinPro Trading||2||yes||1:200||100%||Metatrader 4, zulutrade, Finopro station||5||credit cards, paypal, skrill, wire transfer|
|Blackwell Global||2||yes||1:200||-||MetaTrader 4, Blackwell Pro, Mobile||2000||redit/debit cards, Neteller, Skrill, Wire transfer|
|AAAfx||2||yes||1:200||up to 30%||ZTP, MetaTrader 4, Binary options webtrader, Zulutrade||300||Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi|
|XTB||2||yes||1:200||Metatrader 4, xStation, xMobile||250||Credit cards, Neteller, Paypal, Skrill, Wire transfer|
|EasyMarkets||2||yes||1:100||Metatrader 4, EasyMarkets web-based platform||100||credit cards, neteller, Skrill, Webmney, wire transfer|
|CityIndex||2||yes||1:400||-||MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet App||100||Credit/Debit Cards|
|Markets.com||2||yes||1:200||up to $2,000||Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTrader||100||Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments|
|eToro||1||yes||1:400; 1:1 for Crypto Currencies||-||eToro Platform||200||Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer|
|Tifia||1||yes||1:1,000||Metatrader 4, webtrader||10||wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay|
|RealTrade||1||yes||1:500||30% welcome bonus||MetaTrader 4||20||Credit Cards, WebMoney, and Wire Transfer|
|FXOpen||1||yes||1:500||$100||MetaTrader 4||1||Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney|
|House of Borse||1||yes||1:100||MetaTrader 4||50000||credit cards, wire transfer|
|Igofx||1||yes||1:1,000||Metatrader 4||1||wire transfer, credit cards, perfect money|
|Fort Financial Services||1||yes||1:1,000||MetaTrader 4, CQG, Ninja trader, binary options||5||Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer|
|TraderTrust||1||yes||1:200||100% upto $5,000||SmartForex||100||Skrill, Credit Cards|
|MEX Exchange||1||yes||1:500||Metatrader 4||25||Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer|
|FBS||1||yes||up to 1:3,000||$123 Welcome Bonus||MetaTrader 4, Metatrader 5, Webtrading||1||credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill|
|Forexer||1||yes||1:500||Forexer platform (Metatrader 5 version)||200||wire transfer|
|Simplefx||1||yes||1:100||MetaTrader 4 and in-house web-based platform||1||Wire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin|
|Synergy FX||1||yes||1:500||MetaTrader 4||500||credit cards, skrill, wire transfer|
|Financika||1||yes||200:1||Profit, WebProfit, MetaTrader 4||250||credit cards, wire transfer|
|FCI Markets||1||yes||1:100||Currenex, FCI NetStation, MetaTrader 4||250||credit cards, neteller, skrill, wire transfer|
|Fortrade||1||yes||1:200||Fortrader||500||wire transfer, credit cards, skrill, neteller|
|FXGiants||1||yes||1:500||MetaTrader 4||500||credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer|
|FXGlobe||1||yes||1:500||MetaTrader 4||250||Credit cards, Neteller, Skrill, Wire transfer|
|FXlider||1||yes||1:200||MetaTrader 4, Sirix, ZuluTrade, FXlider mobile, FXlider Copy Trader, FXlider Trader||100||wire transfer, credit cards, neteller, skrill|
|FXonus||1||yes||1:500||MetaTrader 4||500||Credit Cards, Skrill, Neteller, Wire Transfer, China Union Pay|
|FXoro||1||yes||1:400||Metatrader 4||200||credit cards, wire transfer, skrill, neteller, ecoPayz, CashU|
|FXprimus||1||yes||1:500||Metatrader 4||100||Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer|
|Infinox||1||yes||1:300||Metatrader 4||100||credit cards, wire transfer, skrill, neteller, china unionpay|
|Itrader||1||yes||1:500||MetaTrader 4, Webtrader (in-house), Mobile||250||wire transfer, credit cards|
|JCMFX||1||yes||1:1,000||MetaTrader 4||10||credit cards, FasaPay, Wire Transfer, Neteller, Skrill|
|Larson&Holz||1||yes||1:500||Metatrader 4, Web Trader||100||credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money|
|LCG||1||yes||1:500||MetaTrader 4, LCG Trader (web-based, ECN accounts only)||1||wire transfer, debit/credit cards, Skrill|
|LMFX||1||yes||1:1,000||100% match bonus, 15% recovery||Metatrader 4, Webtrader||50||credit cards, Fasapay, neteller, okpay, skrill, wire transfer|
|LQDFX||1||yes||1:500||MetaTrader 4, xStation||20||Wire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal|
|Mahi FX||1||yes||1:100||Metatrader 4, MahiFX||1||wire transfer, credit cards|
|Paxforex||1||yes||1:500||No deposit $7 bonus – cannot withdraw||MetaTrader 4||10||Credit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer|
|Pricemarkets||1||yes||1:400||MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FX||500||wire transfer, credit cards|
|Rallytade||1||yes||1;1,000||Metatrader 4, xStation (web-based), xSocial, xOptions||100||credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay|
|Range Markets||1||yes||1:500||Metatrader 4||100||Neteller, Credit Cards, wire transfer|
|Rekuten Securities||1||yes||1:50||MarketSpeed FX, Trading Station (inherited from FXCM)||1||wire transfer, checks, ATM (only for local residents)|
|Roboforex||1||yes||1:500||MetaTrader 4, cTrader||1||credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money|
|Templefx||1||yes||1:400||MetaTrader 4, TempleFX Trader (web-based)||50||Wire transfer, credit cards, Skrill, Sofort, Neteller, UnionPay|
|Tradeo||1||yes||credit cards, wire transfer, Skrill and Neteller||20%||Tradeo webtrader, Metatrader 4||250|
|Tradersway||1||yes||1:1,000||Metatrader 4, ctrader||0||Skrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU|
|Trading212||1||yes||1:200||Trading212||100||wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay|
|Tradize||1||yes||1:1000||100||Skrill, Neteller, credit cards|
|TurnkeyForex||1||yes||1:200||00% deposit bonus; 30 days of commission-free trading; 30% rescue bonus||MetaTrader 4, Trade Station||5||credit cards, wire transfer, neteller|
|Whaleclub||1||yes||1:100||in-house whaleclub web platform||1||bitcoin|
|Freshforex||1||yes||1:1000||SIGN-UP BONUS ¢100!||Metatrader 4||1||Debit/credit cards, Neteller, OKPAY, W1, QIWI, Webmoney, Skrill, FasaPay, Contact, Wire transfer|
|FxGlory||0||yes||1:3,000||50% up to $1,000||MetaTrader4, Mobile||1||Credit/debit cards, Paypal|
|TrioMarkets||0||yes||1:300||-||MetaTrader 4, Sirix Webtrader||100||Credit Card, Wire, Skrill, Neteller, Paypal and CashU|
|Orbex||0||yes||1:500||MetaTrader 4||500||Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney|
|AccentForex||0||yes||1:500||50%||MetaTrader 4||10||WebMoney, OkPay, Skrill, Wire Transfer, Credit Cards|
|GrandCapital||0||yes||500:1||$500 no deposit||MetaTrader 4, WebTrader||10||Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney|
|10Markets||0||yes||1:200||n/a||MetaTrader 4, 10Markets WebTrader||200||Debit/Credit Cards, Wire Transfer|
|AlfaTrade||0||yes||200:1||-||MetaTrader4, Webtrader||500||Wire Transfer, Credit Cards, Skrill, Neteller|
|Squared Financial||0||yes||300:1||-||MetaTrader 4, mobile||500||wire Transfer, CashU, Credit Card, PayPal|
|Alvexo||0||yes||400:1||-||MetaTrader 4, WebTrader, Mobile||5000||Cash-U, Credit Card, Webmoney, Wire Transfer|
|RubixFX||0||yes||400:1||-||MetaTrader 4||500||Wire Transfer, Credit Cards|
|NSFX||0||yes||200:1||Metatrader 4, Webtrader, NSFX Jforex platform||300||credit cards, Skrill, CashU and wire transfer|
|FXGrow||0||yes||200:1||-||MetaTrader 4, NetStation||100||Credit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer|
|Juno Markets||0||yes||1:400||-||MetaTrader 4||500||neteller, skrill, credit cards, wire transfer|
|TeleTrade||0||yes||1:200||24%||MetaTrader 4, Mobile||2000||credit cards, Wire transfer, Neteller, Skrill|
|KGIeworld||0||yes||1:50||-||MetaTrader 4||1000||Wire Transfer, Check|
|Abshire-Smith||0||yes||1:200||Vertex fx, Metatrader 4, straticator||500||CashU, Neteller, Skrill, Wire Transfer|
|Adamant Finance||0||yes||1:500||Metatrader 4||1||Bitcoin, CashU, credit cards, FasaPay, MegaTransfer, Neteller, OKPAY, QIWI, Webmoney, Yandex.Money|
|Alfa Financial||0||yes||1:100||MetaTrader 4, AX1Trader||10000||yes|
|BlitzBrokers (IB for AxiTrader)||0||yes||1:500||MetaTrader 4||1||Credit cards, Neteller, Skrill|
|CIBfx||0||yes||1:200||MetaTrader 4||100||Paypal, Skill, Credit Cards, Neteller|
|Citypoint Trading||0||yes||1:100||MetaTrader 4, Vertex||20||credit cards, wire transfer|
|CMS Trader||0||yes||1:200||Sirix||500||credit cards|
|Darwinex||0||yes||1:200||MetaTrader 4, cTrader||500||Bank Wire, Credit Cards, UnionPay|
|ETX Capital||0||yes||1:200||ETX Trader Pro, Metatrader 4, ETX binary||100||credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay|
|Hydra Markets||0||yes||1:1,000||Metatrader 4||100||Skrill, Neteller, credit cards|
|Swissmarkets||0||yes||1:500||Metatrader 4, Webtrader||200||credit cards, wire transfer, neteller, skrill, iDEAL, giropay|
|Trade360||0||yes||1:1,000||35%, $60 no deposit for real account||Trade360||100||credit cards, skrill, neteller, wire transfer|
|ForexMart||0||yes||1:1,000||$150 no deposit needed||Metatrader 4||1||credit cards, neteller, skrill, paypal, paxum|
|Trader.Online||0||yes||1:200||Trader.Online Platform||250||Credit Cards, Wire Transfer|
|Forexee||0||yes||1:500||Special trading commission $1, Welcome Bonus $15 for STP, 0% commission for deposits||MetaTrader 4||50||Credit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money|
|AETOS||0||yes||1:200||MetaTrader 4||250||Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY|
|LH-Crypto||0||yes||1:500||Metatrader 4, Metatrader 5||10||Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer|
Almost all forex brokers provide demo trading account, however the features of each need to be reviewed. The top Forex Brokers would give the clients the ultimate access to unlimited in time trading account with sufficient amount of virtual money to practice with. When you run out of the demo cash, the account can be replenished upon request without any trouble.
The advantage of unlimited demo account is obvious. You can go on and practice all kind of different trading styles and scenarios, even if you already have a real account running along. Backtesting ideas, going over unique trading opportunities and perfecting your trading plan is one of the crucial points in becoming a full-time online currency trader.
Think about it. When you can easily open a demo trading account with one of the top rated Forex Brokers, you can not only practice the trading itself but also review the features of the platform, learn the navigation, figure out whether the platform is user-friendly and offers the necessary innovative features you seek in a broker. After you master the technique and the flow of the platform, you can easily navigate your way through the platform during live trading, where the real money is involved.
Most Forex Brokers today offer welcome bonus for new customers who are interested in switching from their demo forex account to the real money trading. Every broker is different when it comes to promotional offers. Some go all the way to 100% match bonus while more strict brokers might not have any type of bonus system at all, mostly due to its regulation requirements.
In this section, we have grouped the comprehensive and very detailed list of our top rated Forex Broker reviews based on various rating factors, such as license an regulation, trading platform performance, overall trading conditions and features, educational material available for the customers, and practice account availability.
What is Forex Demo Trading Account?
In simple words, demo account is a simulation of the live account, with virtual money used for practice instead of real money deposits. You can use demo account to learn forex trading and whether you lose a trade or win a trade, you do not risk your own capital because you play with demo money given to you by the broker. The virtual funds can only be used for demo trading and of course not available for withdrawal or transfer to live account.
For example, Liteforex broker offers Forex demo account, which is a training account that isperfectly suitable for practising and getting ready for trading with real money. You can use your demo account free of charge to boost your trading skills, refine on your trading strategies or test Experts-Advisers under real market conditions. Money put on a demo account is a virtual investment. Demo accounts can be opened via Personal Profile in less than 1 minute. Master the MetaTrader platforms and acquire trading experience on a demo account from LiteForex with no risk of losing any of your money.
Here is another example of practice account offered by Octafx:
The OctaFX Forex Demo Account is essentially a practice account, which is accessible through simple registration. Get accustomed to a variety of features of the Forex trading platform and get familiar with the dynamics of the Forex market before committing any real funds. Practicing with unlimited demo dollars helps you better understand how to execute trades, as well as your risk exposure. While being equipped with all the real account features, it allows you to:
- Use it completely free of charge:Test your trading strategies and bots for scalping, and execute trades completely risk free as many times as necessary
- Trade with virtual money: Even though it’s a trading simulation, we still provide you with real trading signals that are also free of charge
- Discover all the features of the trading platform: Learn to read charts and use graphic objects, levels, Fibonacci retracements, and more
- Experiment with different order types.
Virtual money is cyber cash that is given to you together with the demo account. Virtual money is free and most brokers provide abundant amount so that new traders can practice and learn long enough.
Once you finish your virtual money in your practice account, you get in touch with the Broker and request to replenish it for further practicing. In most cases, you get around $100,000 in your demo account and this will definitely last you for a while!
Forex Demo Accounts : List of 10 top demo accounts for forex trading
We are all familiar with the famous phrase "Practice Makes Perfect". Without trying out the virtual simulation of the currency market, it is impossible to learn trading Forexonline, how the currency pairs react to news release and how to use the platform available to you without getting lost. Risk free environment helps you to concentrate of the basics of trading without worrying about losing your own money.
We are pleased to offer you our wide selection of Forex Brokers carefully reviewed and checked. These hand-picked brokers offer their clients demo trading account absolutely free of charge and no risk involved to your own money. Demo accounts can be opened in a blink of an eye without the need to provide credit card information or any types of deposit. If you fall into such fraud where a broker requires you to make a deposit before using the demo account, definitely ditch that company and move on to another, decent Forex Broker that doesn't use clients for its own benefits.
As mentioned previously, the losses or profits made during your demo trading cannot be used in real account trading, but rather stay within the virtual balance which you can use to back test and practice more in order to master your skills or try out new strategies you find useful for your trading portfolio.
How to Find Best Demo Trading Accounts ?
Not every Forex Broker wants you to practice demo for unlimited amount of time. You will see that there are many Forex Brokers are are actually against such feature and give you a maximum of a month to work the demo account. There are, however, the decent brokers who give the clients the unlimited time and cash to demo trade.
Forex Brokers with unlimited practice account is beneficial not only to beginner trader, but also to experienced pro who wishes to explore new opportunities and skills without putting his real money at any kind of risk. It is useful to open a demo trading account with the best Forex Brokers online to be able to explore all the capabilities of the trading platforms and experience the quality of the available features with demo cash.
The Truth About Forex Demo Account
Demo account is a perfect way to practice online currency trading with full features of the platform and access to the real market data. Using Forex demo account you can easily understand how online trading actually works for specific currency pair. You can also work on real data and live feeds and experiment with the market moves due to latest economic releases. Demo account is just what it sounds like - it is a practice account. You do not make or lose your funds but rather use the virtual cash to do the trading. Without risking your own money you can concentrate on understanding forex strategies.
Selection of Forex Brokers
It is important to do your homework and compare the features of each Forex Broker you are interested to. Demo account might be a breeze, but you must be satisfied with the trading conditions available to you in live account too. Otherwise the whole purpose of demo trading is not completely fulfilled. We are all different in what we seek when it comes to online currency exchange, and it is useful to go over the reviews and the benefits of Brokers in order to make a smart decision.
Our comprehensive guide provides you with detailed read on Demo Forex trading accounts and updated Forex Broker reviews, making it easier for you to do the comparison, find the features you are interested in and focus on the selection of the broker you want to trade with.
Features of a Demo Trading Account
In demo accounts you must check whether the prices shown to you on the platform are real live values and not manipulated by the broker itself to make you feel superior trader before you even got your feet wet. Another important aspect is to get decent amount of virtual money into your demo account. You might want to review whether the broker offers web-based platform or download and based on your preferences, choose the broker that provides you with the platform that you feel most comfortable with.
Keep in mind that even the best demo account with all the live-like features, real market conditions and live feeds do not completely mimic the real trading. It is unlikely that as a new trader you will fund your trading account with $100,000 right away. With that being said, always remind yourself that demo account gives you a virtual tour of forex market and doesn't prepare you to the emotional ups and downs involved in trading from the psychological point of view.