Best Forex Brokers that Offer Demo Account

Free $100 Forex No-Deposit Bonus

Are you new to trading forex or an experienced trader that wants to test a new strategy under real market conditions? Forex trading is a practice that involves a strong perception of the currency markets, skill, and excitement. It involves researching the economy in depth, identifying and seizing opportunities and having a strong sense of self-control over your actions. Forex trading also involves high risks, which is why newbies to the industry should always take baby steps to minimize their losses. The best way to do this is by starting your trading on a demo account

What is a demo account in forex trading ?

Best Forex Brokers that Offer Demo AccountA forex demo account is a trading account that gives traders free, unlimited access to a trading platform where you can learn or test new trading strategies under real market conditions, using virtual money. Here, traders can change their leverage, adjust or reset their starting balance or profit/loss at any time, and use different trade sizes to test their comfort level.

Most top forex brokers allow traders to open a free demo account on their platforms, providing them a simulated experience of what it will be like trading forex on their platform. These pretend accounts usually contain most, if not all of the features and capabilities contained in a real account. This way, it allows newcomers in the market to learn how forex trading works and test their skills and processes with zero risks.

Benefits of demo accounts:

  •  The account allows new traders to enter the market
  • It lets traders try out a new broker’s trading platform to see if it meets all their trading needs.
  • It lets you try out all the features and other services a broker is offering.
  • It provides a great platform where traders of all levels who want to practice and develop new strategies can learn
  • It allows traders to discover the role of technical and fundamental analysis in trading. Traders get to trade in real time and analyze the market using technical and fundamental indicators without risking their money.
  • It allows traders to experience first hand the swift pace with which markets move and the significance of risk management.
  • Allows traders to develop and adapt their trading strategy as the market evolves and fluctuates.

List of Forex brokers Offering a Demo Account

Broker Info Bonus Open Account
HYCM Logo Min Deposit: $100
Spread: From 0,2 Pips
Leverage: 1:200
Regulation: FCA UK (#186171), CySEC (#259/14)
10% Welcome Bonus up to $5,000 Visit Broker
FBS Markets Inc forex broker Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$50 No-Deposit Bonus, 100% Deposit Bonus, Lucky T-shirt, iPhone 6s Plus Visit Broker
OCTAFX forex broker Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), FCA UK (#679306)
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win. Visit Broker
xm best forex broker Min Deposit: $5
Spread: From 0 Pips
Leverage: 500:1
Regulation: ASIC, CySEC, FCA (UK), IFSC Belize
“$30 Non-Deposit bonus, 50% +20% deposit bonus up to $5,000, Loyalty Program Bonus Visit Broker
exness forex broker review Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account Deposit Visit Broker
iq option best binary options brokers Min Deposit: $10
Spread:
Leverage:
Regulation: CySEC
- Visit Broker
No Deposit Bonus Instaforex Broker Min Deposit: $1
Spread: Fixed Spread From 3 Pips
Leverage: Up to 1:1000
Regulation: CBR, CySEC and FFMS
30% Forex Deposit bonus Visit Broker
Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
Visit Broker
Forex.com Gain Capital review USA Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Visit Broker
City Index forex broker Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 500:1
Regulation: FCA UK, ASIC Australia, MAS Singapore
Visit Broker

  • HYCM

HYCM Logo
Spread: From 0,2 Pips
Leverage: 1:200
Min Deposit: $100
Regulated: FCA UK (#186171), CySEC (#259/14)

HYCM forex brokers recognize the need for having a demo account to help beginner traders learn how to trade, and allow experienced ones to try out new strategies in a risk-free environment.

The HCYM demo account is designed to closely imitate a real FX trading environment that is based on true market conditions. Traders get access to a HCYM demo account with $50000 virtual cash. This account is accessible by registering through the site and creating a demo account. Traders can run their demo account for as long as they want.

  • FBS

FBS Markets Inc forex broker
Spread: From 0 Pips
Leverage: 3000:1
Min Deposit: $1
Regulated: CySEC, IFSC

The FBS demo account is easy and convenient to open, All you need to do is submit your name and email address and your demo account will be ready in less than 2 minutes. This demo account allows new and experienced traders.

The demo account is absolutely free with the deposit being created by the system. However, traders cannot take part in trading of the prize sum of no more than $1,000. This account also allows beginner traders to take part in a special FBS Pro Demo contest.

  • InstaForex

Markets.com Forex Broker
Spread: Fixed and Variable
Leverage: 300:1
Min Deposit: $100
Regulated: CySEC, FSB

Markets.com

Read Review Visit Now

InstaForex traders can now open a fully functional forex demo account on InstaForex using the MetaTrader 4 platform. The MetaTrader 4 is considered the most popular solution in the forex trading sphere. This platform offers its services on numerous currencies, features CFDs and US stocks CFDs and trades on gold and silver among others.

To start trading on the InstaForex demo trading account, traders are expected to open a forex demo account, get an account number and password. They should then download the MetaTrader platform and log in to it using the provided data to start trading forex on the demo account.

  • XM

xm best forex broker
Spread: From 0 Pips
Leverage: 500:1
Min Deposit: $5
Regulated: ASIC, CySEC, FCA (UK), IFSC Belize

XM lets traders keep their demo account parallel to their trading account for an unlimited amount of time. Traders have the liberty to use their demo account to test new strategies and then us the most effective one on their real trading account.

With XM traders can set up a demo account with just a few details and gain access to a virtual balance of $100,000. Their demo account is unique in that it offers the exact same features as the real thing. Also, there are no time limits as to how long you can use your demo account.

  • OctaFX

OCTAFX forex broker
Spread: From 0.2 Pips
Leverage: 500:1
Min Deposit: $5
Regulated: FSA (Saint Vincent and the Grenadines), FCA UK (#679306)

OctaFX trading platforms offer traders a demo account that is a practice account, which is accessible to traders through a simple registration process. This account provides the same trading experience as their real accounts with the only difference being that the funds used to trade on this account are simulated. Traders don’t trade with real cash, ensuring that it is completely risk-free. Traders, whether new or experienced get accustomed to the range of features on the platform, and familiarize with the dynamics of currency trading markets before committing any real money.

  • Forex.com

Forex.com Gain Capital review
Spread: Starting 0 Pips
Leverage: up to 400:1
Min Deposit: $50
Regulated: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA

Forex.com offers new and experienced traders a free demo account where they can practice new trading strategies risk-free. The Forex.com demo account is a core element of their educational effort. It familiarizes newbie traders with tools and features of their platform and allows the testing of trading strategies in a risk-free environment using virtual funds. This account allows them to experience the unique benefits of trading on a MetaTrader 4, which is considered the most popular solution in the FX trading sphere, platform first hand.

This demo account is limited to 30 days and offers traders $50,000 in virtual money.

When trading forex, not everyone will understand how it works from the get-go. And, although some traders may understand the basics of how the currency pairs work and operate, there is no better way to put their knowledge to the test than through trading in a risk-free environment. Therefore, take advantage of these forex demo accounts to master your trading strategy. We highly advise traders to use these accounts until they develop a solid, profitable strategy before thinking about putting real money on the line.

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