A demo forex account is a great way to start trading on the forex market, the world’s largest financial market. To get your feet wet, you must open a demo account with an online broker of your choice. To get the best forex demo account, you must choose a forex broker from the many out there. This requires you to do some preliminary research to find the best one for your level of experience and trading needs.
The Best Demo Accounts For Forex Is A Good Way To Practice Trade
Today, there are different online forex brokers that you can use to trade currencies. However, traders in the U.S. have fewer options because strict U.S. regulations often discourage online brokers from taking part in that market.
Here are picks for the best forex, contract for difference (CFD), and spread betting brokers that offer demo accounts in 8 key areas. You will also find information about each broker and a screenshot of the trading platform, which you can try with a demo account. Once you’ve chosen a broker you can trust, you can contact them directly to open a demo account and start trading.
1. FOREX.com
FOREX.com is one of the best forex brokers overall and offers a demo account to people who might want to use it. Even if you live in the U.S., you can use FOREX.com’s advanced trading platforms to learn how to trade up to 80 different currency pairs.
Even if you don’t live in the U.S., you can still use the popular MetaTrader platform, which lets you automate your trading plans and try out new strategies in the past. You can read Benzinga’s review of FOREX.com to learn more about this great broker.
2.eToro
eToro is a company specializing in social trading called “copy trading.” This type of trading lets you copy the trades of expert traders who have a track record of making money.
You can also trade more than 2,000 different assets in a demo account. eToro’s intuitive forex platforms and apps should be easy for almost any trader, but it does not support the popular MetaTrader platforms.
eToro also has great tools for learning, and it works with people from most states in the U.S.
3. AvaTrade
AvaTrade gives you an impressive $100,000 to start with in your demo account if you want to practice trading with a large amount of fake money.
This makes this broker our top choice when it comes to virtual funding.
AvaTrade is also great in terms of the number and types of trading platforms it offers. These include MetaTrader, ZuluTrade, and AvaOptions, a great platform for trading forex and options.
4. easyMarkets
easyMarkets is a good place for new forex traders to open a demo account if they want to find a broker with the easiest-to-use trading platform. Versions for phone, tablet, and desktop devices are all available.
5. Plus500
Plus500 is one of the best CFD providers. You can trade over 1,000 assets in a demo account, including 70 forex currency pairs, stocks, cryptocurrencies, exchange-traded funds (ETFs), indices, and options. The broker does not work with people from the U.S.
The desktop and mobile trading platforms from Plus500 have an easy-to-use interface that makes demo account trading easy for new and experienced traders. The broker’s demo accounts can be used for as long as you want, which makes them great for building a long-term track record. IG Markets
6. Swissquote
Swissquote offers a free demo trading account so that people new to forex trading can try it out with no risk. After 30 days, the Swissquote demo account will be closed.
Step-By-Step Guide To Opening A Swissquote Account
Step 1: Start The Process Of Making An Account.
The applicant can start the Swissquote Account registration process by clicking on the orange “Start Trading” button on the Swissquote website’s home page.
Step 2: Choose A Type Of Swissquote Account
The applicant must choose a Swissquote Account Type to move forward with the application process.
Step 3: Finish Setting Up Your Swissquote Account
Once a Swissquote Account type has been chosen, the applicant must complete an online registration form to finish the process.
