The 10 Best Forex Trading Demo Accounts revealed. We have listed, rated, and reviewed the 10 Best Forex Brokers with Demo Accounts.
This is a complete listing of The 10 Best Forex Brokers with Practice Demo Accounts. In this in-depth write-up, you will learn:
- Best MetaTrader 4 (MT4) Demo Account Broker.
- A Free Demo Trading Account.
- The Best Forex Demo Account for Beginners.
- Demo Accounts – A Definition.
- MetaTrader 5 Demo Accounts for Strategy Testing.
And much, much more!
Best Forex Trading Demo Accounts – A Comparison
| 🔎 Broker | 👉 Open an Account | 🆓 Demo Account | 💵 Min. Deposit |
| 📌 HFM | 👉 Open Account | Yes | $0 USD / 0 ZAR |
| 🥇 AvaTrade | 👉 Open Account | Yes | $100 USD / R1806 ZAR |
| 🥈 Pepperstone | 👉 Open Account | Yes | $0 USD / 0 ZAR |
| 🥉 eToro | 👉 Open Account | Yes | $50 USD / 889 ZAR |
| 🏅 ThinkMarkets | 👉 Open Account | Yes | $0 USD / 0 ZAR |
| 📌 Oanda | 👉 Open Account | Yes | $1 USD / 17 ZAR |
| 📍 EasyMarkets | 👉 Open Account | Yes | $100 USD / R1806 ZAR |
| 🏅 XM | 👉 Open Account | Yes | $5 USD / 88 ZAR |
| 📍 IC Markets | 👉 Open Account | Yes | $200 USD / 3557 ZAR |
| 🏅 FXCM | 👉 Open Account | Yes | $50 USD / 889 ZAR |
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Forex Trading Demo Account – A Definition
Forex brokers offer prospective customers a Forex Trading Demo Account so they can experiment with the trading platform and its various features before deciding to activate a live account.
10 Best Forex Trading Demo Accounts (2025)
- HFM – Well-Regulated Broker Choice
- AvaTrade – Best Overall Demo Account.
- Pepperstone – Best Virtually Funded Demo Account.
- eToro – Top Demo Account for Copy Trading.
- ThinkMarkets – Leading Mobile Trading App.
- Oanda – Unlimited Demo Account Testing Access.
- EasyMarkets – Ease of Use App.
- XM – Free Educational Resources
- IC Markets – Best Practice Account for Strategy Testing.
- FXCM – Trusted Broker Choice for Beginners.
1. HFM
HFM is a forex and commodities broker that provides award-winning trading services and facilities to retail and institutional clients worldwide.
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
HFM offers beginners a free demo trading account to practice forex trading in a 100% risk-free environment. The HFM Demo account is available for unlimited use and closely simulates a real trading environment based on actual market conditions.
Featured
| 🔎Broker | HFM |
| Company Information | |
| 📅Year Founded | 2010 |
| 🧑🏻💻Amount of staff | 500+ |
| 👩💻Amount of active traders | 300,500 000 mil |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSCA, CySEC, FCA, DFSA, FSA, CMA |
| 🌎Country of regulation | UK, South Africa, Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Premium Account, Zero Spread Account, Pro Account, HFcopy Account |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Not offered |
| 📇Minor account currencies | AUD, GBP, USD, EUR, CAD, CHF, JPY, SGD, HUF, PLN, NZD, ZAR |
| 💰Minimum Deposit | $0 USD / 0 ZAR |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | Free up to a certain amount |
| 📊Spreads from | 0.1 pips |
| 💸Commissions | No |
| 💱Number of base currencies supported | Over 50 |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | 1:30 |
| 📏Margin requirements | 0.50% |
| ☪️Islamic account (swap-free) | Yes, available upon request |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 500+ |
| 🗠CFD Stock Indices | Yes, HFM offers CFDs on major global stock indices, including US30 (Dow Jones), UK100 (FTSE), and many more. |
| ⚖️CFD Commodities | Yes, HFM provides CFDs on a variety of commodities, including Gold, Oil, and others. |
| 📜CFD Shares | Yes, HFM allows trading CFDs on a selection of popular company shares, such as Amazon and Meta. However, the total number of individual stock CFDs may be limited compared to specialized stock brokers. |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/debit cards, bank transfers, electronic wallets. |
| 💵Withdrawal Options | Must be sent via the same payment method used for deposit |
| Trading Platforms and Tools | |
| 💻Trading Platforms | HFM Platform, MT4 |
| 👩💻OS Compatibility | Windows, macOS, Web, Mobile (Android, iOS) |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/5 |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | +27-104 439 924 |
| 👾Social media Platforms | Facebook, Twitter, |
| 🗣️Languages supported on Website | 27 languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes, HFM offers a multi-award winning affiliate program with competitive commissions, marketing tools, and dedicated support. |
| 👨🏫Amount of partners | 41 000 |
| 📋IB Program | Yes, HFM has a dedicated IB (Introducing Broker) program with custom solutions for introducing new clients. |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉Open Account |
| 🔎 HFM Account | 🆓 Demo |
| 📱Virtual Funds | $100,000 |
| 💻Platforms Supported | MT4, MT5, HF App, and WebTrader |
| 🆓Demo Account Duration | Unlimited |
| 🔘Access to Markets | Forex, Commodities, Indices, Cryptocurrencies, Bonds, Shares |
| 📊Leverage | Up to 1:1000 |
| 📈Spreads | As low as 0.1 pips |
| 🔖Account Segregation | Yes |
| 🔑Negative Balance Protection | Yes |
| 📌Investor Protection Schemes | Up to €20,000 compensation under the Investor Compensation Scheme |
| 👥Account Types Available | Standard, Premium, Islamic |
| ⚙️Order Execution | Market execution |
| 🛡Regulation | Regulated by multiple entities, including FSCA (South Africa), FCA (UK) |
| 📚Educational Resources | Yes, including webinars, tutorials, and trading tools |
| ☎️Customer Support | 24/5 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| FSCA Regulated | US clients not accepted |
| Fast and easy account opening | High bank withdrawal fees |
| Low trading fees | Inactivity fee after one year |
Our Findings
HFM stands out as a versatile forex broker with a strong regulatory framework. It offers traders a variety of account types, including Islamic accounts, to cater to different trading needs.
2. AvaTrade
AvaTrade is a well-regulated service provider with over 11 years of experience in the financial markets. It offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment.
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA
Trading Platform
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Applicants can register for an AvaTrade Demo Account by completing a simple online registration form or via Facebook or Google. The AvaTrade Demo Account allows users to test out all available trading platforms.
Featured
| Category | Details |
| Company Information | |
| 🏷️Company Name | AvaTrade |
| 📍Headquarters Location | Dublin, Ireland |
| 📅Year Established | 2006 |
| 👤CEO/Founder | Dáire Ferguson |
| 🌐Global Offices | Over 15 offices worldwide, including Japan, Australia, and South Africa |
| 🔖Licensing Body | Central Bank of Ireland, ASIC, FSA (Japan), FSCA (South Africa), ADGM (UAE) |
| 👥Group Companies | Ava Capital Markets, AvaTrade EU, AvaTrade Japan, AvaTrade Middle East |
| 🏛️Business Model | Market Maker |
| 🌍Operational Languages | Over 20 languages, including English, Spanish, French, and Arabic |
| 🏆Awards & Recognitions | Best Broker 2023, Best Trading App 2022, among others |
| Regulation and Security | |
| 🛡️Regulation | CBI, BVI FSC, ASIC, FSCA, ADGM, FRSA, ISA |
| ✔️Compliance Standards | Adheres to MiFID II, ASIC regulations, and other regional compliance standards |
| 💼Client Fund Segregation | Yes, client funds are held in segregated accounts |
| 🪫Negative balance protection | Yes, ensuring traders cannot lose more than their account balance |
| 🕵️♂️Financial Conduct Oversight | Regular audits and monitoring by respective regulatory bodies |
| 💰Insurance Coverage | Professional indemnity insurance in line with regulatory requirements |
| 📋AML & KYC Policy | Strict Anti-Money Laundering (AML) and Know Your Customer (KYC) policies |
| 🔒Security of Trading Platform | Advanced SSL encryption, two-factor authentication (2FA), and secure servers |
| 🛡️Investor Compensation Fund | Member of investor compensation schemes depending on regional regulations |
| 🖥️Cybersecurity Measures | Robust firewalls, regular penetration testing, and secure backups |
| Account Types and Features | |
| ⚙️Standard Account | Yes, available with competitive features |
| 📊ECN Account | No, AvaTrade does not offer an ECN account |
| 🌙Islamic Account | Yes, swap-free accounts are available for Muslim traders |
| 🎮Demo Account | Yes, a free demo account is available with virtual funds |
| 👑VIP Account | Yes, available for high-net-worth traders with enhanced features |
| 💵Minimum Deposit | $100 / R1806 |
| 💱Base Currencies | USD, EUR, GBP, AUD, and others depending on the region |
| ⚖️Leverage Options | Up to 1:400 (varies based on region and asset class) |
| 📈Spreads (Fixed/Variable) | Fixed spreads EUR/USD starts at 0.9 pips |
| 🔄Swap-Free Accounts | Yes, available for Islamic accounts |
| 🌐Account Currency Conversion | Yes, account currencies can be converted during setup |
| 🚨Margin Call Level | 50% |
| ❌Stop-Out Level | 20% |
| 🔄Hedging Allowed | Yes |
| ⚡Scalping Allowed | No, scalping is not permitted under AvaTrade’s policies |
| 🔁Copy Trading Support | Yes, through integration with ZuluTrade and DupliTrade |
| 👥Social Trading Features | Yes, via third-party platforms |
| 💼Managed Accounts | No, AvaTrade does not offer managed accounts |
| Trading Conditions | |
| 🔍Average Spreads | EUR/USD starts from 0.9 pips (fixed spreads) |
| 💲Commissions per Trade | None, spreads only |
| 🔢Leverage Range | Up to 1:400 |
| 🚀Execution Speed | Ultra-fast execution |
| 📊Order Execution Type | Market execution |
| 🔄Slippage Policy | Minimal slippage, detailed in terms |
| 📏Margin requirements | Varies by asset class |
| ⏹️Stop-Loss and Take-Profit Orders | Yes |
| 🔁Trailing Stops | Yes |
| 🕑Pending Orders | Yes |
| 🔽Partial Fills | Yes |
| 🧾Dividend Adjustments | Yes |
| 🌙Overnight Swap Fees | Applicable, waived for Islamic accounts |
| 📆Rollover Policy | Follows market standards |
| 🛑Guaranteed Stop Loss | Yes, for specific instruments |
| Trading Instruments | |
| 💹Forex Currency Pairs | 55+ pairs, including majors, minors, and exotics |
| 🪙Precious Metals (Gold/Silver) | Yes |
| 📈Indices | Yes |
| 🌾Commodities | Yes, including soft commodities |
| ⛽Energies (Oil/Natural Gas) | Yes |
| ₿Cryptocurrencies | Yes (via platforms and email) |
| 📉Stocks | Yes, global stocks available |
| 🗂️ETFs | Yes |
| 🏛️Bonds | No |
| 📜Futures Contracts | No |
| 🛡️Options Contracts | Yes |
| ⚖️CFDs (Contracts for Difference) | Yes |
| 🔣Swap on Trading Board | Yes |
| 🔀Leveraged Instruments | Yes, leverage up to 1:400 |
| 🎯Micro-Lot Trading | Yes |
| 💸Spread Betting | Yes, available in some regions |
| 🧺Currency Baskets | No |
| Deposits and Withdrawals | |
| 💳Deposit Methods | Credit/Debit Cards, Bank Wire Transfer, E-Wallets (Skrill, Neteller), Local Payment Methods |
| 💵Withdrawal Methods | Credit/Debit Cards, Bank Wire Transfer, E-Wallets (Skrill, Neteller) |
| ⏱️Processing Time for Deposits | YesInstant for most methods, 1-3 business days for bank transfers |
| 🕒Processing Time for Withdrawals | 24-48 hours for most methods, up to 5 business days for bank transfers |
| 🚫Deposit Fees | No |
| 💵Withdrawal Fees | No |
| 🔢Minimum Deposit Amount | $100 |
| 📉Minimum Withdrawal Amount | $100 (may vary by method) |
| 🚪Maximum Withdrawal Limit | No specific limit, subject to account balance |
| 💱Supported Currencies | USD, EUR, GBP, AUD, and more |
| ₿Crypto Deposits & Withdrawals | Not supported |
| 🏦Bank Wire Transfers | Supported |
| 💳Credit/Debit Cards | Supported |
| 📲E-Wallets (Skrill, Neteller, etc.) | Supported |
| 🏘️Local Payment Methods | Supported (varies by region) |
| Trading Platforms and Tools | |
| 💻MetaTrader 4 (MT4) | Yes, fully supported |
| 👩💻MetaTrader 5 (MT5) | Yes, available for advanced trading |
| 🖥️Proprietary Platform | Yes, AvaTradeGo and WebTrader |
| 📱Mobile Trading App | Yes, AvaTradeGo offers comprehensive mobile trading |
| 🌐Web-Based Platform | Yes, WebTrader is available |
| 🤖Trading Bots | Yes, compatible with EAs (Expert Advisors) |
| 🖧VPS Services | Available upon request |
| 🔌API Connectivity | No |
| 📉Charting Tools | Advanced charting tools are available |
| 🧮Custom Indicators | Supported via MT4/MT5 |
| 🧠Market Sentiment Analysis | Yes, integrated into platforms |
| 📩Trading Signals | Yes, via partnerships with Trading Central |
| 🏷️Advanced Order Types | Yes, including stop orders and limit orders |
| ⚠️Risk Management Tools | Yes, includes guaranteed stop-loss and negative balance protection |
| 📅Economic Calendar | Yes, provided within the platform |
| 📰Market News Feed | Yes, updated in real-time |
| Customer Support | |
| 📞Support Channels | Live Chat, Email, Phone, FAQ/Help Center |
| 🗨️Live Chat Availability | 24/5 |
| 📧Email Support | Available |
| 📱Phone Support | Available |
| 🌍Multilingual Support | Yes, supports multiple languages |
| ❓Help Center/FAQ | Comprehensive Help Center and FAQs |
| 👨💼Dedicated Account Manager | Available for premium accounts |
| ⏲️Response Time (Live Chat) | Within a few minutes |
| 🕒Response Time (Email) | 24-48 hours |
| ⭐Support Rating | High-rated for responsiveness and efficiency |
| Educational Resources and Support | |
| 🎥Webinars | Regular webinars on various trading topics |
| 🏫Seminars | Available in selected locations |
| 📖Trading Tutorials | Comprehensive beginner and advanced tutorials |
| 📊Market Analysis Reports | Daily and weekly market analysis reports |
| 📚E-Books | Various e-books covering different aspects of trading |
| 🎬Video Library | Extensive library with video tutorials |
| 📜Glossary | Detailed glossary of trading terms |
| ❔FAQs | Frequently Asked Questions section covering general and account-related inquiries |
| 🆕Beginner Guides | Step-by-step beginner guides to help new traders |
| 🚀Advanced Trading Strategies | In-depth strategies for experienced traders to enhance trading skills |
| Partnerships and Programs | |
| 📋IB Program | Yes |
| 🪪Affiliate program? | Commission-based program for affiliates promoting AvaTrade |
| 🏷️White Label Solutions | Customized solutions for financial institutions and brokers to offer AvaTrade's services under their brand |
| 🎁Partnership Rewards | Rewards and bonuses for partners based on performance and business growth |
| 🏛️Institutional Solutions | Tailored solutions for financial institutions, including liquidity services |
| 🔌API Partnership | AvaTrade offers API access for integrating their trading services into third-party platforms |
| 🤝Referral Program | Incentives for clients who refer new traders to AvaTrade |
| Fees & Charges | |
| 💳Deposit Fees | No deposit fees for most methods |
| 📤Withdrawal Fees | No withdrawal fees for most methods |
| 💤Inactivity Fee | Inactivity fee of $50/month after 3 months of no trading activity |
| 🌜Overnight Fees (Swaps) | Charges/credits depend on the position, asset class, and market conditions |
| 💱Conversion Fees | Conversion fees apply when depositing or withdrawing in a different currency than the account's base currency |
| 💰Commission on Trades | No commission for standard accounts, but commissions may apply for certain account types like ECN accounts |
| Market Research Tools | AvaTrade offers an economic calendar with key financial events and news updates. |
| 📅Economic Calendar | AvaTrade offers an economic calendar with key financial events and news updates. |
| 📰Market News | AvaTrade provides real-time market news from leading financial sources. |
| 📩Trading Signals | AvaTrade offers trading signals through third-party providers and on its platform. |
| 🔧Technical Analysis Tools | AvaTrade includes charting tools, technical indicators, and analysis features. |
| 💭Sentiment Analysis | AvaTrade provides sentiment indicators, showing the market mood and trends. |
| Additional Features | |
| 👥PAMM/MAM Accounts | AvaTrade offers PAMM (Percentage Allocation Management Module) and MAM (Multi-Account Manager) accounts for fund managers and clients. |
| 🔗Social Trading Platform | AvaTrade provides a social trading platform allowing users to follow and copy trades of others. |
| 🏆Trading Competitions | AvaTrade hosts periodic trading competitions with cash prizes and other rewards. |
| 🎁Loyalty Rewards | AvaTrade has a loyalty program offering benefits such as bonuses and other perks for active traders. |
| 👑Exclusive VIP Perks | AvaTrade offers VIP clients exclusive services like personalized account management and special offers. |
| Promotions & Bonuses | |
| 🎁Welcome Bonus | AvaTrade offers a welcome bonus to new clients upon opening and funding their accounts. |
| 💵Deposit Bonus | AvaTrade may offer deposit bonuses, providing additional trading funds on qualifying deposits. |
| 🏅Trading Contests | AvaTrade organizes trading contests, where participants can win prizes based on their trading performance. |
| 🌟Seasonal Promotions | AvaTrade runs seasonal promotions throughout the year, offering special deals and bonuses. |
| 🎖️Loyalty Programs | AvaTrade offers loyalty programs that reward clients for their continued trading activity with perks and bonuses. |
| User Experience & Reviews | |
| 🖥️User Interface Quality | AvaTrade’s platform offers a clean and intuitive interface, designed for both beginner and experienced traders. |
| 🔒Platform Stability | AvaTrade’s platform is known for its stability, with minimal downtime and robust performance under various market conditions. |
| 📱Mobile App Reviews | The mobile app receives positive reviews for its ease of use, offering a wide range of features similar to the desktop platform. |
| ⭐Overall User Rating | AvaTrade generally holds a solid rating from users, with many praising its comprehensive offerings and user-friendly interface. |
| 🌟Trustpilot Rating | AvaTrade maintains a strong Trustpilot rating, with many clients expressing satisfaction with their services. |
| 😟Common Complaints | Common complaints include slow customer support response times and occasional withdrawal issues. |
| Mobile | |
| 📱Mobile App Name | AvaTradeGO |
| 🛠️Developer | AvaTrade Ltd. |
| 📅Release Year | 2019 |
| 💻OS Compatibility | iOS, Android |
| 🌐Languages Supported | English, French, Spanish, Italian, Arabic, Portuguese, and others |
| 📈Trading Instruments | Forex, CFDs, Commodities, Stocks, Indices, Cryptocurrencies |
| 🔄Real-Time Data | Yes, with live market data and updates |
| 🛠️Charting Tools | Advanced charting tools with technical analysis indicators |
| 📊Order Types Supported | Market Orders, Limit Orders, Stop Orders, OCO, Trailing Stop |
| 🚀Order Execution Speed | Fast, near-instant execution on mobile |
| 🔔Custom Alerts | Yes, users can set price alerts and notifications |
| 🤝Beginner-Friendly | Yes, the app is designed with simplicity and ease of use |
| 🔐Security Features | Two-factor authentication (2FA), encryption |
| 🖥️Synchronization | Syncs across all devices (mobile and desktop) |
| 💰Deposit and Withdrawal | Yes, mobile deposits and withdrawals are supported |
| 📝Account Types Accessible | All account types available, including demo accounts |
| 🔄Switch Accounts | Yes, users can switch between accounts easily |
| 💬In-App Support | Live chat support available within the app |
| 📚Educational Resources | Access to tutorials, webinars, and market analysis |
| 🎯Watchlist | Yes, users can create and manage a personalized watchlist |
| 🌙Dark Mode | Yes, the app supports dark mode for better visibility |
| 🌐Social Trading | Yes, users can engage in social trading within the app |
| AI Trading Resources | |
| 🤖AI Integration | AvaTrade offers AI-powered trading tools, integrated into the platform |
| 📊Data Analysis | Yes, AI-driven data analysis for enhanced decision-making |
| 📈Predictive Analytics | Yes, predictive tools are available to anticipate market trends |
| 🛠️Customizable Strategies | Yes, users can customize their trading strategies using AI tools |
| 📉Risk Management Tools | Advanced AI tools to assess and manage trading risks |
| 🧑🏫Trading Insights | AI-based insights and recommendations for optimal trades |
| 🚀Execution Optimization | AI-driven algorithms that optimize order execution speed |
| 🔄Portfolio Rebalancing | Yes, AI can assist in portfolio rebalancing based on market changes |
| 📚AI Tutorials | Available educational resources on how to use AI tools in trading |
| 🎥Video Demonstrations | Yes, video tutorials explaining how to use AI features |
| 🧑🤝🧑Webinars | Yes, webinars are available to discuss AI trading strategies |
| 🔍AI-Powered Search | Yes, search tools are enhanced with AI to provide more accurate results |
| 🌟Beginner-Friendly | Yes, AI tools are designed to be accessible for beginners |
| 🖥️Platform Availability | Available on both desktop and mobile platforms |
| 📈Backtesting Capability | Yes, users can backtest strategies using historical data |
| 🛠️Strategy Builder | Yes, users can build and customize their own AI-driven strategies |
| 🔔Alerts and Notifications | Yes, AI-powered alerts for market events and strategy changes |
| 🔒Data Protection | Strong encryption and data protection measures in place |
| 👁Transparency | Full transparency on how AI algorithms work and make decisions |
| Social Media Platformst | |
| AvaTrade is active on Facebook, providing updates, news, and promotions. | |
| AvaTrade uses Instagram to share educational content, market analysis, and trading tips. | |
| AvaTrade regularly tweets market insights, promotions, and company news. | |
| AvaTrade maintains a professional LinkedIn presence, sharing company updates and industry news. | |
| 🎥YouTube | AvaTrade's YouTube channel features tutorials, webinars, market updates, and promotional content. |
| 👉Open Account | 👉Open Account |
| 🔎 AvaTrade Account | 🆓 Demo |
| 📱Virtual Funds | $100,000 |
| 💻Platforms Supported | MT4, MT5, AvaTradeGO, WebTrader |
| 🆓Demo Account Duration | 21 days |
| 🔘Access to Markets | Forex, Commodities, Indices, Cryptocurrencies, Shares |
| 📊Leverage | Up to 1:400 |
| 📈Spreads | From 0.9 pips on major currency pairs |
| 🔖Account Segregation | Yes |
| 🔑Negative Balance Protection | Yes |
| 📌Investor Protection Schemes | Up to €20,000 compensation under the Investor Compensation Scheme |
| 👥Social Trading | Yes, via the AvaSocial app |
| ⚙️Order Execution | Market execution |
| 🛡Regulation | Regulated by FSCA (South Africa), Central Bank of Ireland, ASIC, and others |
| 📚Educational Resources | Yes, including webinars, tutorials, and trading tools |
| ☎️Customer Support | 24/5 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy Account opening | Limited product portfolio |
| No withdrawal fee | Administration fee |
| Low trading fees | Inactivity fee |
| Negative balance protection | Not listed on stock exchange |
Our Findings
AvaTrade’s commitment to education and customer support, along with its versatile trading platforms, make it a reliable choice for diverse trading needs.
3. Pepperstone
Pepperstone is an award-winning service provider that ASIC, FCA, and CMA regulate. It offers a wide selection of trading platforms to customers worldwide.
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Pepperstone does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The Pepperstone demo account expires after 30 days.
Featured
| 🔎 Pepperstone Account | 🆓 Demo |
| 📱Virtual Funds | $50,000 |
| 💻Platforms Supported | MT4, MT5, cTrader, TradingView |
| 🆓Demo Account Duration | 30 days |
| 🔘Access to Markets | Forex, Commodities, Indices, Cryptocurrencies, Shares |
| 📊Leverage | Up to 1:500 |
| 📈Spreads | From 0.0 pips on Razor Account |
| 🔖Account Segregation | Yes |
| 🔑Negative Balance Protection | Yes |
| 📌Investor Protection Schemes | Up to €20,000 compensation under the Investor Compensation Scheme |
| 👥Social Trading | Yes, via Myfxbook, DupliTrade, and other platforms |
| ⚙️Order Execution | Market execution with low latency |
| 🛡Regulation | Regulated by ASIC (Australia), FCA (UK), CySEC (Cyprus), and others |
| 📚Educational Resources | Yes, including webinars, guides, and market analysis |
| ☎️Customer Support | 24/5 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast Account Opening | Mostly CFDs Offered |
| Excellent Customer Support | Basic MetaTrader Platform |
| Negative Balance Protection | No Managed Accounts |
Our Findings
Pepperstone is a leading forex and CFD broker recognized for its fast execution speeds and competitive pricing.
4. eToro
eToro is one of the world’s leading social investment networks. eToro aims to revolutionize traders’ investment and enhance investors’ financial education. eToro offers a Multi-Asset platform with access to over 2,000 different financial assets.
Min Deposit
USD 50 in *certain countries
Regulators
FCA, ASIC, CySEC
Trading Platform
Proprietary WebTrader
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
eToro offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The demo account is non-expiry.
Featured
| Company Information | |
| 📅Year Founded | 2007 |
| 🧑🏻💻Amount of staff | Over 1,200 |
| 👩💻Amount of active traders | Over 30 million |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FCA (UK), CySEC (Cyprus), ASIC (Australia) |
| 🌎Country of regulation | UK, Cyprus, Australia |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, through regulatory bodies |
| Account Types and Features | |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | USD |
| 💰Minimum Deposit | $50 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-5 business days |
| 🪙Fund Withdrawal Fee | $5 per withdrawal |
| 📊Spreads from | 1 pip on major currency pairs |
| 💸Commissions | No direct commissions on trades |
| 💱Number of base currencies supported | 1 (USD) |
| 🚀Swap Fees | Yes |
| 📈Leverage | Up to 30:1 (Retail clients), higher for professional clients |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | Yes, |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Average of 1 second |
| 📆VPS Hosting | No |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 2,000 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| Trading Platforms and Tools | |
| 💻Trading Platforms | eToro WebTrader, eToro Mobile App |
| 👩💻OS Compatibility | Web-based (All major browsers), iOS, Android |
| 🖥️Forex trading tools | CopyTrader, Social Trading, Market Analysis Tools |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | Not directly provided, contact via support portal |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, Instagram, YouTube |
| 🗣️Languages supported on Website | English, French, German, Spanish, Italian, Chinese, Arabic, more |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | eToro Academy, Blog, Guides, Tutorials |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Not publicly disclosed |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, sponsored various sports teams and events |
| 🪙Rebate program | No |
| 👉Open Account | 👉 Open Account |
| 🔎 eToro Account | 🆓 Demo |
| 📱Virtual Funds | $100,000 |
| 💻Platforms Supported | eToro Proprietary Web Platform, eToro Mobile App |
| 🆓Demo Account Duration | Unlimited |
| 🔘Access to Markets | Stocks, ETFs, Forex, Cryptocurrencies, Commodities, Indices, CopyPortfolios |
| 📊Leverage | Up to 1:30 |
| 📈Spreads | Variable spreads depending on the asset class |
| 🔖Account Segregation | Yes |
| 🔑Negative Balance Protection | Yes |
| 📌Investor Protection Schemes | Up to €20,000 compensation under the Investor Compensation Scheme |
| 👥Social Trading | Yes, core feature with CopyTrader and CopyPortfolios |
| ⚙️Order Execution | Market execution |
| 🛡Regulation | Regulated by FCA (UK), CySEC (Cyprus), ASIC (Australia), and others |
| 📚Educational Resources | Yes, including webinars, trading academy, and financial news |
| ☎️Customer Support | 24/5 customer support via ticket system |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Used by 6,000,000+ traders | Doesn’t allow scalping |
| Established in 2006 | Inactivity Fee |
| Regulated by Financial Conduct Authority, CySEC, ASIC | Limited range of instruments |
Our Findings
eToro caters to both novice and experienced traders. Its educational resources, social trading capabilities, and comprehensive customer support make it a versatile choice for global traders.
5. ThinkMarkets
ThinkMarkets is a premium multi-asset online brokerage that offers access to 4,000 products, low spreads across multiple markets, and an award-winning platform.
Min Deposit
USD 0
Regulators
FCA, FSCA, ASIC, CySEC, JFSA
Trading Platform
MT4, MT5, ThinkTrader
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Derivative products are leveraged products and can result in losses that exceed initial deposits.
ThinkMarkets offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The demo account expires after 90 days of inactivity.
Featured
| Company Information | |
| 📅Year Founded | 2010 |
| 🧑🏿💼Current CEO | Nauman Anees |
| 📌Founder/s | Nauman Anees, Faizan Anees |
| 🧑🏻💻Amount of staff | 100+ |
| 👩💻Amount of active traders | 550,000+ |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FCA (UK), ASIC (Australia), FSCA (South Africa), JFSA (Japan) |
| 🌎Country of regulation | UK, Australia, South Africa, Japan |
| 💻Account Segregation | Yes |
| 🔑Two-step Authentication | Yes |
| 🔖Investor Protection Schemes | Yes, FSCS in the UK (up to £85,000) |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, FSCS in the UK (up to £85,000) |
| Account Types and Features | |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | EUR, GBP, AUD, USD, JPY, CHF, SGD, ZAR |
| 💰Minimum Deposit | $$0 for Standard, $500 for ThinkZero accounts0 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-2 business days |
| 🪙Fund Withdrawal Fee | None for most methods |
| 📊Spreads from | 0.0 pips on ThinkZero account |
| 💸Commissions | $3.5 per lot per side on ThinkZero account |
| 💱Number of base currencies supported | 8 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 500:1 |
| 📏Margin requirements | From 0.2% (varies by instrument) |
| ☪️Islamic account (swap-free) | Yes, |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 30 milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | 1,200+ |
| 🗠CFD Stock Indices | 17+ |
| ⚖️CFD Commodities | 20+ |
| 📜CFD Shares | 1,000+ |
| 👁🗨Watch List | Yes |
| ❗️Trade Alerts | Yes |
| 📈Trading Stocks with GP | Available |
| 📉Trading Indices with GP | Available |
| 🔗Swap on Trading Board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay, others |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay, others |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, ThinkTrader |
| 🖱Stop-loss Instrument | Yes (Guaranteed stop-loss available) |
| ⚙️Investor Protection Schemes | Yes |
| 👩💻OS Compatibility | Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Autochartist, Trading Central, Advanced charting tools |
| Customer Support | |
| 🗣️Live chat availability | Yes, 24/5 |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | +44 203 514 2374 |
| 🗣️Languages supported on Website | English, Chinese, Arabic, Spanish, |
| Educational Resources and Support | |
| 🏷Beginners Trader Friendly UX | Yes |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Video tutorials, Articles, Webinars, Market analysis |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 1000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | No |
| 🪙Rebate program | Yes |
| 📝Community Forum | No |
| Social Media Platforms | |
| 📍Official Website Address | Yes |
| 📍Official Facebook Page | Yes |
| 📍Official Twitter Page | Yes |
| 📍Official YouTube Channel | Yes |
| 📍Official LinkedIn Page | Yes |
| 📍Official Instagram Page | Yes |
| Accept South Africa Traders? | Yes |
| Is ThinkMarkets Regulated by the South Africa Regulatory Body (FSCA)? | Yes |
| Does ThinkMarkets Offer an Affiliate Program for South African Traders? | Yes |
| Does ThinkMarkets Allow Accounts to be Opened in ZAR/Rands? | Yes |
| 👉Open Account | Open Account |
| 🔎 ThinkMarkets Account | 🆓 Demo |
| 📱Virtual Funds | $25,000 |
| 💻Platforms Supported | MT4, MT5, ThinkTrader |
| 🆓Demo Account Duration | 30 days |
| 🔘Access to Markets | Forex, Indices, Commodities, Cryptocurrencies, Shares, Metals, CFDs |
| 📊Leverage | Up to 1:500 |
| 📈Spreads | From 0.4 pips on Standard Account |
| 🔖Account Segregation | Yes |
| 🔑Negative Balance Protection | Yes |
| 📌Investor Protection Schemes | Up to €20,000 compensation under the Investor Compensation Scheme |
| 👥Social Trading | Yes, core feature with CopyTrader and CopyPortfolios |
| ⚙️Order Execution | Market execution with low latency |
| 🛡Regulation | Regulated by FCA (UK), ASIC (Australia), FSCA (South Africa) |
| 📚Educational Resources | Yes, including webinars, trading guides, and analysis |
| ☎️Customer Support | 24/7 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Regulated by FCA (UK), ASIC (Australia), and FSCA (South Africa) | Fewer assets compared to some competitors |
| Offers Standard, ThinkZero, Islamic, and Demo accounts | Spreads can widen during high volatility |
| $0 for Standard account, $500 for ThinkZero | Fees may apply for international bank transfers |
| Competitive spreads, especially on ThinkZero accounts | Educational materials are not as extensive as some competitors |
| Available for retail accounts | Standard stop-loss orders can experience slippage |
| Access to MT4, MT5, and ThinkTrader | Charges an inactivity fee after 12 months |
| For high-volume traders | Fewer research tools compared to larger brokers |
| Up to 500:1 (depending on jurisdiction) | Limited local customer support in some regions |
| Offers a robust affiliate program | Limited availability of cryptocurrency trading options |
Our Findings
With vital educational resources and responsive customer support, ThinkMarkets is a solid choice for traders seeking reliability and advanced trading tools.
6. Oanda
Oanda is a service provider with over 25 Years of experience in the financial markets. Oanda offers its services to both retail and corporate clients.
Min Deposit
USD 1
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
45
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Oanda offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The Oanda Demo Account is available on the Standard account level for an unlimited period.
Featured
| Company Information | |
| 📅Year Founded | 1996 |
| 🧑🏻💻Amount of staff | Over 500 |
| 👩💻Amount of active traders | Over 300,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CFTC (USA), FCA (UK), ASIC (Australia), IIROC (Canada), MAS (Singapore) |
| 🌎Country of regulation | USA, UK, Australia, Canada, Singapore |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, through regulatory bodies |
| Account Types and Features | |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR, GBP, AUD, CAD, CHF, HKD, JPY, SGD |
| 💰Minimum Deposit | $1 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | $0 to $20 depending on the method and location |
| 📊Spreads from | 0.6 pips on major currency pairs |
| 💸Commissions | None on standard accounts, commission-based accounts available |
| 💱Number of base currencies supported | 9 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 30:1 |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | No |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Average 12 milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 100 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| Trading Platforms and Tools | |
| 💻Trading Platforms | OANDA WebTrader, MetaTrader 4, OANDA Mobile App |
| 👩💻OS Compatibility | Web-based (All major browsers), Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Advanced charting tools, Autochartist, API trading |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | Varies by region, e.g., +1 212 858 7690 (US) |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🗣️Languages supported on Website | English, French, German, Spanish, Italian, Chinese, more |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | OANDA Academy, Blog, Market Analysis, Trading Tutorials |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Not publicly disclosed |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | No |
| 🪙Rebate program | No |
| 👉Open Account | 👉 Open Account |
| 🔎 Oanda Account | 🆓 Demo |
| 📱Virtual Funds | $100,000 |
| 💻Platforms Supported | OANDA’s proprietary platform (fxTrade), MT4 |
| 🆓Demo Account Duration | Unlimited |
| 🔘Access to Markets | Forex, Indices, Commodities, Bonds, Metals |
| 📊Leverage | Up to 1:50 |
| 📈Spreads | From 0.6 pips on major currency pairs |
| 🔖Account Segregation | Yes |
| 🔑Negative Balance Protection | Yes |
| 📌Investor Protection Schemes | Up to €20,000 compensation under the Investor Compensation Scheme |
| 👥Social Trading | Not available |
| ⚙️Order Execution | Market execution |
| 🛡Regulation | Regulated by CFTC (USA), FCA (UK), ASIC (Australia), MAS (Singapore), IIROC (Canada) |
| 📚Educational Resources | Yes, including webinars, tutorials, and market analysis |
| ☎️Customer Support | 24/5 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Regulated in multiple major jurisdictions (US, UK, Japan, etc.) | Fewer account types compared to some brokers |
| Competitive spreads, especially for major pairs | Lacks deposit bonuses or promotions common with other brokers |
| Offers the popular MetaTrader 4 (MT4) and its proprietary platform Oanda Trade | Higher costs on some CFD products (non-Forex instruments) |
| Flexible for new traders with no minimum deposit requirement | Lower leverage limits for clients in regulated regions like the US and Europe |
| Extensive educational tools and market analysis | Spreads can widen during volatile market conditions |
| API access for developers and algo traders | Smaller selection of tradable instruments (e.g., limited exotic pairs) |
| Fast order execution with no dealing desk | Charges fees for certain withdrawal methods (especially for non-bank transfers) |
| One of the few brokers offering Forex trading in the US | Fewer cryptocurrency pairs available compared to other brokers |
| No hidden fees; spreads and costs are clear | Doesn't offer a built-in social or copy trading platform |
Our Findings
OANDA is a well-established forex and CFD broker known for its robust regulatory framework and comprehensive trading tools.
7. easyMarkets
easyMarkets is a brokerage firm that allows users to trade CFDs on commodities, forex, shares, indices, and cryptocurrency through the use of a market-leading proprietary trading platform or the ever-popular MetaTrader 4.
Min Deposit
USD 25
Regulators
CySEC, ASIC, BVI, FSA, FSCA
Trading Platform
MT4, Proprietary Platform, MT5 and TradingView
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
EasyMarkets offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The EasyMarkets Demo account is non-expiry and available for unlimited use in a simulated trading environment with virtual funds.
Featured
| Company Information | |
| 📅Year Founded | 2001 |
| 🧑🏻💻Amount of staff | Over 300 |
| 👩💻Amount of active traders | Over 142,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC (Cyprus), ASIC (Australia), FSA (Seychelles) |
| 🌎Country of regulation | Cyprus, Australia, Seychelles |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, through regulatory bodies |
| Account Types and Features | |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR, GBP, AUD, CAD, CHF, JPY |
| 💰Minimum Deposit | $100 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | None |
| 📊Spreads from | 0.7 pips on major currency pairs |
| 💸Commissions | No |
| 💱Number of base currencies supported | 5 (USD, EUR, GBP, AUD, JPY) |
| 🚀Swap Fees | No |
| 📈Leverage | 1:2000 |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Instant Execution |
| 📆VPS Hosting | No |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 200 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, Sofort |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| Trading Platforms and Tools | |
| 💻Trading Platforms | easyMarkets WebTrader, MetaTrader 4, easyMarkets Mobile App |
| 👩💻OS Compatibility | Web-based (All major browsers), iOS, Android |
| 🖥️Forex trading tools | DealCancellation, Freeze Rate, Inside Viewer |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | +357 25 828 899 |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🗣️Languages supported on Website | English, Chinese, Arabic, Spanish, Polish, more |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Trading guides, eBooks, Video tutorials |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Not publicly disclosed |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, Real Madrid Football Club (Former Sponsor) |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
| 🔎easyMarkets Account | 🆓 Demo |
| 📱Virtual Funds | $10,000 |
| 💻Platforms Supported | easyMarkets Web Platform, MT4, TradingView |
| 🆓Demo Account Duration | 30 days |
| 🔘Access to Markets | Forex, Commodities, Indices, Cryptocurrencies, Metals, Options |
| 📊Leverage | 1:2000 |
| 📈Spreads | Fixed spreads from 0.9 pips |
| 👥Risk Management Tools | Yes, including dealCancellation and free guaranteed stop loss |
| ⚙️Order Execution | Market execution |
| 🛡Regulation | Regulated by CySEC (Cyprus), ASIC (Australia), FSA (Seychelles) |
| 📚Educational Resources | Yes, including video tutorials, trading courses, and market analysis |
| ☎️Customer Support | 24/5 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Segregates client funds | Doesn’t offer VPS |
| Established in 2003 | Limited range of instruments |
| Regulated by CySEC and ASIC | Not FCA Regulated |
Our Findings
easyMarkets provides robust educational resources and a demo account for new traders, making it accessible for both beginners and experienced investors.
8. XM
XM Group is a MetaTrader-only broker known for offering an outstanding selection of high-quality educational content and market research. XM is available globally and has some of the lowest fees in the industry.
Min Deposit
USD 5
Regulators
FSC, CySEC, ASIC,
Trading Platform
MT4, MT5
XM offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The XM demo account does not expire, is virtually funded, and simulates real trading conditions.
Featured
| Company Information | |
| 📅Year Founded | 2009 |
| 🧑🏻💻Amount of staff | Over 450 |
| 👩💻Amount of active traders | Over 5 million |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC (Cyprus), ASIC (Australia), FCA (UK), IFSC (Belize), DFSA (Dubai) |
| 🌎Country of regulation | Cyprus, Australia, UK, Belize, Dubai |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, through regulatory bodies |
| Account Types and Features | |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR, GBP, AUD, CHF, JPY, HUF, PLN |
| 💰Minimum Deposit | $5 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | None |
| 📊Spreads from | 0.6 pips on major currency pairs |
| 💸Commissions | None on standard accounts |
| 💱Number of base currencies supported | 11 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 30:1 |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Average of 1 second |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 1,000 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, PayPal, others |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, PayPal, others |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, XM WebTrader, XM Mobile App |
| 👩💻OS Compatibility | Web-based (All major browsers), Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Trading signals, market analysis tools, Expert Advisors (EAs) |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | +357 25029933 |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🗣️Languages supported on Website | Over 20 languages, including English, Spanish, Chinese, Arabic, more |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | XM Education, Video tutorials, Market analysis |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Not publicly disclosed |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, various sports sponsorships, including Formula 1 and rugby teams |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
| 🔎XM Account | 🆓 Demo |
| 📱Virtual Funds | $100,000 |
| 💻Platforms Supported | MT4, MT5, XM WebTrader |
| 🆓Demo Account Duration | Unlimited |
| 🔘Access to Markets | Forex, Commodities, Indices, Cryptocurrencies, Metals, Stocks |
| 📊Leverage | Up to 1:888 |
| 📈Spreads | As low as 0.6 pips on major currency pairs |
| 👥Risk Management Tools | Yes, including dealCancellation and free guaranteed stop loss |
| ⚙️Order Execution | Market execution with no re-quotes |
| 🛡Regulation | Regulated by CySEC (Cyprus), ASIC (Australia), FSC (Belize), DFSA (Dubai) |
| 📚Educational Resources | Yes, including webinars, tutorials, and market analysis |
| ☎️Customer Support | 24/5 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast digital account opening | Account types vary according to jurisdiction |
Our Findings
With its commitment to transparency and client satisfaction, XM is a solid choice for traders seeking a reliable and comprehensive trading experience.
9. IC Markets
IC Markets is a renowned Forex CFD provider that offers trading solutions for active day traders and scalpers. IC Markets offers cutting-edge trading platforms, low latency connectivity, and superior liquidity.
Min Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
IC Markets offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The demo account expires after 30 days of inactivity.
Featured
| 🔎Broker | IC Markets |
| Company Information | |
| 📅Year Founded | 2007 |
| 🧑🏻💻Amount of staff | Over 200 |
| 👩💻Amount of active traders | Over 180,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | ASIC (Australia), CySEC (Cyprus), FSA (Seychelles) |
| 🌎Country of regulation | Australia, Cyprus, Seychelles |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, through regulatory bodies |
| Account Types and Features | |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR, GBP, AUD, CAD, CHF, JPY, NZD, SGD, HKD |
| 💰Minimum Deposit | $200 / 3607 ZAR |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-2 business days |
| 🪙Fund Withdrawal Fee | None for most methods |
| 📊Spreads from | 0.0 pips on Raw Spread accounts |
| 💸Commissions | $3.50 per lot per side on Raw Spread accounts |
| 💱Number of base currencies supported | 10 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 500:1 |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Average 40 milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 2300 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, UnionPay, others |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, UnionPay, others |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, IC Markets WebTrader |
| 👩💻OS Compatibility | Web-based (All major browsers), Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Autochartist, Trading Central, ZuluTrade, Myfxbook, Advanced charting tools |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | +61 2 8014 4280 |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🗣️Languages supported on Website | English, Chinese, Spanish, Italian, French, more |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Video tutorials, Articles, Webinars, Market analysis |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Not publicly disclosed |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | No |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
| 🔎IC Markets Account | 🆓 Demo |
| 📱Virtual Funds | $100,000 |
| 💻Platforms Supported | MT4, MT5, cTrader |
| 🆓Demo Account Duration | 30 days |
| 🔘Access to Markets | Forex, Commodities, Indices, Cryptocurrencies, Stocks, Bonds |
| 📊Leverage | Up to 1:500 |
| 📈Spreads | From 0.0 pips on Raw Spread Account |
| 👥Social Trading | Yes, via Myfxbook AutoTrade and ZuluTrade |
| ⚙️Order Execution | Market execution with low latency |
| 🛡Regulation | Regulated by ASIC (Australia), CySEC (Cyprus), FSA (Seychelles) |
| 📚Educational Resources | Yes, including webinars, video tutorials, and market analysis |
| ☎️Customer Support | 24/7 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Forex Fees | Limited Product Selection |
| Easy Account Opening | Slow Chat Response |
Our Findings
With its emphasis on transparency, fast execution, and comprehensive customer support, IC Markets is a strong choice for both novice and experienced traders.
10. FXCM
FXCM is a UK-based broker that offers CFD trading on shares, stock indices, forex, commodities, and cryptos to a global market. FXCM has offices in a variety of global locations, including Berlin and Sydney, and more than 133,000 customer accounts are registered worldwide.
Min Deposit USD 50 Regulators FCA Trading Platform MT4, NinjaTrader, Trading Station Crypto Yes Total Pairs 42 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
FXCM offers a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. A demo account generally expires after 30 days and comes pre-loaded with £50,000 in virtual funds.
Featured
| Company Information | |
| 📅Year Founded | 1999 |
| 🧑🏻💻Amount of staff | Over 150 |
| 👩💻Amount of active traders | Not publicly disclosed |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FCA (UK), ASIC (Australia), FSCA (South Africa), CySEC (Cyprus) |
| 🌎Country of regulation | UK, Australia, South Africa, Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, through regulatory bodies |
| Account Types and Features | |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR, GBP, AUD, JPY, CAD |
| 💰Minimum Deposit | $50 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-2 business days |
| 🪙Fund Withdrawal Fee | Varies by method |
| 📊Spreads from | 1.3 pips on EUR/USD |
| 💸Commissions | None on standard accounts |
| 💱Number of base currencies supported | 4 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 30:1 |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 20-30 milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 350 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay, others |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay, others |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4, Trading Station, NinjaTrader, ZuluTrade |
| 👩💻OS Compatibility | Web-based (All major browsers), Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Trading signals, Market analysis tools, Automated trading |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | [email protected] |
| 📞Customer Support Contact Number | +44 2073984050 |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🗣️Languages supported on Website | English, French, German, Chinese, Italian, Arabic, more |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Video tutorials, Articles, Webinars, Market analysis |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Not publicly disclosed |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | No |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
| 🔎FXCM Account | 🆓 Demo |
| 📱Virtual Funds | $50,000 |
| 💻Platforms Supported | Trading Station, MT4, NinjaTrader, ZuluTrade |
| 🆓Demo Account Duration | 30 days |
| 🔘Access to Markets | Forex, Commodities, Indices, Cryptocurrencies |
| 📊Leverage | Up to 1:400 |
| 📈Spreads | From 1.3 pips on major currency pairs |
| 👥Social Trading | Yes, via ZuluTrade and other platforms |
| ⚙️Order Execution | No Dealing Desk (NDD) execution |
| 🛡Regulation | Regulated by FCA (UK), ASIC (Australia), FSCA (South Africa) |
| 📚Educational Resources | Yes, including webinars, video tutorials, and daily market analysis |
| ☎️Customer Support | 24/5 customer support via live chat, phone, and email |
| 👉 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy Account Setup | Limited Product Portfolio |
| Good Technical Tools | High Withdrawal Fees |
Our Findings
FXCM supports popular trading platforms like MetaTrader 4 and Trading Station, offers a variety of educational resources, and offers responsive customer support.
Conclusion
Forex trading demonstration accounts are a perfect chance for both new and old traders to improve their trading skills without fear of losing money. They mimic real-life market situations, so users get an opportunity to test various trading programs.
You might also like: AvaTrade Review
You might also like: Pepperstone Review
You might also like: eToro Review
You might also like: ThinkMarkets Review
You might also like: Oanda Review
Frequently Asked Questions
What is a Forex Demo Account?
A Forex demo account is a risk-free, cost-free practice account.
Why should I use a Demo Account?
Trading with a Demo account is beneficial, especially for traders who are not yet comfortable with Forex trading and the financial risks involved. It allows traders to familiarize themselves with a broker’s trading platform(s), test strategies, and improve their trading skills without risking their capital.
What are the benefits of opening a Demo Account?
Opening a Demo Account will help traders select a broker without the risk of losing capital.
How do I use a Forex trading demo account?
A Demo account is used like a live account by opening buy and sell positions on different financial instruments.
Can Professional Traders Use a Demo Account?
Yes, many Professionals use a Demo Account to practice trading strategies before using them in real time.
