How does a forex demo account work?

In demo account, you can learn about the characteristics of market as well as the frequent changes in the market, pratice how to make orders in the trading platform, get the hang of the platform's tools and how to navigate them, figure out your trading goals, and try out various kinds of trading plans to determine the the ideal setup.

Introducing...

Forex Demo Account

-A Start of Your Trading Journey-

"A practice account on a real trading platform, you don't need to deposit funds as forex demo account is funded with virtual money by brokers. By using this feature, you will have access to join in the live market environments with real-time pricing for free."

Why Is It A Must?

For beginners, forex trading is a vast world to explore; often seems so vast that some can be intimidated to embark on the journey.

In other words...

FOREX TRADING IS NOT AS SIMPLE AS IT MAY SEEM

Before fully committing your time and money to forex trading, you should be familiar with the ins and outs of the business. Forex demo account is very important as you don't want to risk losing your investments due to lack of knowledge and practice.

In demo account, you can:

Learn about the characteristics of market as well as the frequent changes in the market.
Pratice how to make orders in the trading platform.
Get the hang of the platform's tools and how to navigate them.
Figure out your trading goals.
Try out various kinds of trading plans to determine the the ideal setup.

The key is to approach things at your own pace until you fully comprehend the fast-changing world of forex trading. And that is something that only demo account can provide without any real cost.

The Advantages?

Strategy-testing

You can test unlimited number of strategies in forex demo account without any financial consequence before applying them to the live market.

Simulation of Technical Analysis

You can grasp the idea on how the price is affected by support and resistance levels, what differences can you get when changing time frames, how to read candlestick charts, and so on.

Know Your Trading Identity

By trading on demo accounts, you can identify your strengths and weaknesses which will help you define your trading strategies and routines.

Where Can You Start Demo Trading?

Established : 2007

Regulation :

Account types : Standard and Raw Spread

Spread : Variable

Maximum Leverage : 1:500

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IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. Read Full Review

4.23/5

Established : 2008

Regulation :

Account types : Standard, Raw Spread, Pro, Standard Cent and Zero

Spread : Variable and Fixed

Maximum Leverage : 1:2000

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The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, Exness can be your best choice. It is a favorite broker for traders because of low spreads and flexible account types. This broker is also well known for its maximum support on bot new and existing partners. Read Full Review

4.16/5

Established : 2012

Regulation :

Account types : Basic (Global Bdswiss), Black (Global Bdswiss), Basic (EU BDSwiss) and Black (EU BDSwiss)

Spread : Variable and Fixed

Maximum Leverage : 1:400

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BDSwiss is a brokerage firm which has become one of the largest trading groups for retail market. It gathers more than a million clients and counting. In providing the service, BDSwiss supports fast account opening and quality customer support, as well as global establishment through companies in the US and European area. Read Full Review

3.67/5

Established : 2009

Regulation :

Account types : Micro, Standard, Islamic and XM Ultra Low

Spread : Variable

Maximum Leverage : 1:888

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XM is one of the more experienced brokers in the forex brokerage industry today. Since its founding, the broker has experienced a lot of changes, including the addition of zero spread Account, Shares trading, and Webinar feature in various different languages with native instructors for each language. Read Full Review

3.42/5

Established : 2001

Regulation :

Account types : VIP, Standard and Premium

Spread : Fixed

Maximum Leverage : 1:400

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Formerly known as easy-forex, this broker expanded CFD offerings to include global indices, options, metals, forex, commodities, and cryptocurrencies. Simple, honest, and transparent become three values that are carried by the company. Read Full Review

4.33/5

Established : 2011

Regulation :

Account types : cTrader ECN, MT4 Micro and MT5 Pro

Spread : Variable

Maximum Leverage : 1:500

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OctaFX offers a range of instruments including forex pairs as well as CFD trading on precious metals, indices, and cryptocurrencies. Regarded as a good fit for all types of traders, OctaFX is available for beginners to experienced traders. They have a solid reputation as a friendly broker for various strategy users like news traders and even scalpers. Read Full Review

3.59/5

Established : 2011

Regulation :

Account types : FXTM ECN, Standard, Cent, ECN Zero, FXTM Pro, Shares Account, ECN and FXTM ECN MT5

Spread : Variable and Fixed

Maximum Leverage : 1:2000

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Trading environment in FXTM exceeds its peers with the availability of more than 100 instruments to trade with, various types of accounts to be chosen, leverage up to 1:2000, and various deposit and withdrawal facilities. Over the years, it has become an ideal place for newbies and other types of traders to trade in the market. Read Full Review

3.73/5

Established : 2010

Regulation :

Account types : Micro, Premium, HFCOPY, VIP, Islamic Account and Zero spread

Spread : Variable

Maximum Leverage : 1:1000

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HotForex provides trading services and facilities to both retail and institutional clients. It has more than 1,500,000 live accounts opened and 200 employees globally. Traders do not need to prepare a big capital in order to open an account in this broker. Also, there are various trading softwares and tools to facilitate customers to trade forex and CFD online. Read Full Review

3.81/5

Established : 2009

Regulation :

Account types : Standart, Cent, Zero Spread, ECN and Micro

Spread : Variable and Fixed

Maximum Leverage : 1:3000

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FBS is a widely known broker among retail traders. It continually grows to become a preferred broker because of flexible trading conditions that enable traders to trade with various instruments, low deposit, minimum spread, and other trading advantages. Read Full Review

3.28/5

Established : 2007

Regulation :

Account types : Insta.Standard, Insta.Eurica, Cent.Standard and Cent.Eurica

Spread : Fixed

Maximum Leverage : 1:1000

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InstaForex is an international broker that provides trading services to as many as 7 million traders from various countries. The Russian-based broker has a long history and has won numerous awards. Furthermore, it offers myriad of features and always up to date on the most recent trend in the market. Read Full Review

More on Forex Demo Account

Pros and Cons of Forex Demo Account

A thorough introduction on forex demo account, why it really matters, as well as the pros and cons.

How to Start?

The basic guide of starting a forex demo account and how to navigate it as a trading simulation.

Other Brokers to Trade with Forex Demo Account

A selection of brokers offering free forex demo account. Start demo trading by registering in one of the brokers.