Best Forex Demo Accounts

Compare Forex demo accounts up to US$ 100,000 and no time limit. Practice before you pay on MetaTrader 4, 5 or cTrader.


4.7 / 5 AvaTrade
77.82% of retail CFD accounts lose money

AvaTrade.com is an award-winning online broker, in business since 2006. Trade CFDs on one of the widest possible range of instruments and asset classes, from Forex to ETFs and government bonds.

  • Likes
  • Over 750 financial instruments on MT4/5.
  • Get free daily trading signals.
  • Easily copy professional traders.
  • No fees on deposits or withdrawals.
  • Get one-on-one assistance when you deposit US$1,000.
  • Dislikes
  • You cannot trade on raw spreads.
  • Quarterly and annual inactivity fees.
Our take on AvaTrade

The breadth of assets available to trade through its platform sets AvaTrade apart from the competition. You'll find over 750 instruments, including currencies, stocks, indices, ETFs (and leveraged ETFs), precious metals, commodities, cryptocurrencies, and government bonds.

AvaTrade supports the MT4 and MT5 platforms, available for Windows and iOS devices. Its web trading platform is sleek, with advanced charting tools. AvaTrade's spreads are competitive and fixed, which can provide a more predictable trading environment, well-suited for beginners.

Its customer service is excellent too. Every time a question has arisen, we've been able to speak to a customer support agent easily through a local telephone number. Our queries were resolved within minutes. AvaTrade support is available five days a week through various channels, including WhatsApp.

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A Forex demo account allows you to trade Forex in simulated market conditions without putting your capital at risk.

Is a practice account right for you?

A demo account can work for beginners and more experienced traders alike, albeit for different reasons:

  • If you're new to currency trading, a demo account is an opportunity to learn Forex trading at your pace without committing yourself financially or emotionally.
  • Practice a new trading strategy until you've got the confidence to go live. Some trading strategies such as scalping require speed, stamina and self discipline. You'll want to choose a demo with 5 decimal pricing, depth of market information and fine tune your strategy until you're ready to go.
  • A practice account is also an opportunity to test-drive a new trading platform before opening a live account. If you're already experienced with MetaTrader, why not see what cTrader has to offer, or vice versa.

However, a demo account is far from a panacea. Firstly, it won't give you a feel for your broker's execution speeds or abilities. You'll never experience slippage or re-quotes as all trades are virtual.

By the same account, you'll be emotionally detached from your trades and won't experience the excitement and thrill that come with putting real money at risk. This matters more than you may think, as managing one's emotions is one of the keys to long term success as a trader.

How to choose a Forex demo account

If you're planning on opening a demo account, we suggest asking your broker the following questions:

  • How big is the account? The larger the account, the longer you can trade and the greater the positions you can open all else being equal. If possible, choose a large demo account to avoid being interrupted in the middle of a trade.
  • How long does the account last? It's a good idea to choose a practice account with no time limit to avoid being rushed into trading until you feel ready.
  • Are all platform features available? It's important to remember that some demo trading platforms have some features disabled. Prices could be delayed or order types limited. If in doubt, ask your account manager for confirmation.

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Author

About the author

I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.

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