Best UK Forex Demo Accounts 2020

Looking to learn the ropes with a forex demo account? We've reviewed the best UK forex demo accounts and provided all the information you need to get started.
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Author: Nica San Juan
Last Updated: 08 July 2020

Many aspiring traders dream of making it big in forex, but it takes time, dedication and skill to be successful. If you are an aspiring forex trader who wants to try forex trading as a full-time job or as an additional source of income, then you should consider trying a forex demo account first.

A forex demo account will help you understand the specific features of the trading platforms offered by your chosen forex broker, and you’ll also have the chance to test different forex trading strategies using virtual money. But how do you know which demo account is right for you?

This guide covers all you need to about UK forex demo accounts, including the best trading platforms, how to open a demo account and some helpful tips on using it.

Our Recommended UK Forex Platform

We’ve conducted a comprehensive analysis of the top UK forex demo accounts and found eToro to be the best in terms of fees, features and usability. Click the link below to go the eToro sign up page or read on to find out why it is our pick for the best forex demo account for 2020.

eToro : Best Forex Platform 2020

Visit etoro

  • Top Forex broker
  • Regulated by several financial authorities
  • Social and copy trading
75% of retail investors lose capital when trading CFDs with this provider.

What is a Forex Demo Account?

Forex demo accounts, which are also known as paper trading accounts, allow new users to try out their UK forex brokers trading platforms for free and hone their trading skills without risking real money. Most popular forex brokers in the UK offer free forex demo accounts.

A demo account is essentially a simulation of a real trading account, providing access to the same markets, trading options, tools and insights. The only difference between a real trading account and a forex demo account is that you’re not trading with real money when using a demo account.

If you’re a first-time trader look to learn the ropes and learn forex trading strategies, we always recommend dipping your toes in the water with a demo account. However, forex trading demo accounts differ in size and time restrictions, so you need to find the one that gives you the most opportunity to learn.

Best UK Forex Demo Accounts

We’ve reviewed many different forex demo accounts out there and have picked out the best options for UK traders. Read our forex demo accounts reviews to learn about our picks for the best UK forex demo accounts for 2020.

1. eToro - Overall Best Forex Demo Account

Founded in 2007, eToro is one of the key players in the online forex trading industry. It is regulated by the Financial Conduct Authority (FCA) in the UK, so you can be assured that it provides secure and reliable trading services.

The eToro demo account provides $100,000 worth of play funds and has no time limits.  All of the special features of eToro’s trading platform, such as its famous social and copy trading features, can be accessed by demo account users.

You can use the CopyTrader tool to follow and mimic the positions of high performing traders, which makes eToro an excellent platform for beginners looking to build their knowledge.

There are 47 forex markets to trade as CFDs at eToro, and you can enjoy commission-free trading with competitive spreads. The site is user-friendly and easy to navigate, and the eToro app is ideal if you prefer to trade on your mobile.

Regulation: CySEC, FCA, ASIC, MiFID

Assets: Forex, Cryptocurrencies, Stocks, CFD, ETFs, Commodities

Demo Account Size: $50,000

Time Limit: Unlimited

MT4/MT5: No

Currency Pairs: GBP/USD, EUR/USD, USD/JPY, USD/CHF, etc.

Educational Material: Great educational materials for both beginners and advanced traders

Fees: $5 Withdrawal Fee, $5 Inactivity Fee, No Account Fee, No Deposit Fee

Minimum Deposit: $200

Special Features: Copy trading and social trading tools

Payment Methods: Credit/debit card, Paypal, Sofort, Rapid transfer, Skrill, Wire transfer, Neteller, WebMoney, UnionPay

Our rating

  • Social and copy trading functionalities
  • Best mobile trading site
  • Accepts PayPal
  • Limited technical analysis tools
  • Not well-suited for more advanced investors
75% of retail investors lose money when trading CFDs with this provider

2. Forex.com - Best Trading Platform for Professional Traders

Forex.com was founded in 1999 by GAIN Capital Group, a publicly listed company on the New York Stocks Exchange under the symbol GCAP. Since its foundation, Forex.com has gained the industry’s reputation in offering top forex and CFD trading services, eventually becoming among the top online trading platforms in the world. In the United Kingdom, Forex.com is licensed and regulated by the Financial Conduct Authority (FCA), but apart from being regulated by the (FCA) in the UK, Forex.com is highly regulated across multiple countries.

Forex.com trading accounts are accessible via the broker’s proprietary platform as well as the conventional MetaTrader4/MetaTrader5 trading platforms. Further, investors on the Forex.com platform have access to a wide range of trading tools and market news. This broker enables users to integrate Reuters news on MT4/MT5 and to utilize automated trading via the Expert Advisor (EA) feature.

Forex.com offers a risk-free $10,000 demo account for UK investors that includes full access to platforms for a time period of 30 days.

Regulation: CFTC, NFA, FCA, ASIC, IIROC, CIMA, SFC, AND MAS

Assets: Forex, indices, shares, commodities, and Cryptocurrencies.

Demo Account Size: $50,000

Time Limit: 30 days

MT4/MT5: MT4 and MT5

Currency Pairs: 50 currency pairs.

Educational Material: A comprehensive education center that includes trading courses (beginner, intermediate, advanced), tutorial (technical and fundamental analysis, MetaTrader, etc).

Fees: Low trading fees and spreads – EUR/USD starts as low as 0.1, no deposit and withdrawal fee, $15 Inactivity Fee.

Minimum Deposit: $50

Special Features: Direct Market Access (DMA) account, Forex Level 2 execution, MT4 VPS hosting.

Payment Methods: Credit/debit card, Wire transfer

Our Rating

  • Offers a demo account for 30 days
  • Low spreads and trading fees
  • Wide range of trading tools and features
  • Forex.com charges an inactivity fee
  • Limited selection of products
There is no guarantee that you will make money with this provider.

3. Plus500 Demo Account – Commission-Free Broker with an Unlimited Demo Account

Similar to eToro, Plus500 is also known for its forex and CFD trading platform. Launched in Israel in 2008, it now has offices in several countries such as the UK.

Aside from being regulated by the Financial Conduct Authority (FCA) in the UK as well as other top-tier regulations in the world, it is also listed on the London Stock Exchange and belongs to the UK FTSE 250 index.

Plus500 provides a free and unlimited demo account to its users which is automatically renewed whenever it drops below 200 EUR. Through the demo account, you can learn how to use the technical indicators and other advanced trading features that the Plus500 trading platform has to offer.

Once you’re ready to create a real trading account on Plus500, you can trade over 60 different forex pairs. The minimum amount that you need to deposit is just $100, and you can set leverage of up to 30:1.

Regulation: CySEC, FCA, ASIC, MAS

Assets: Forex, CFDs, Spread Betting

Demo Account Size: €40,000

Time Limit: Unlimited

Currency Pairs: GBP/USD, EUR/USD, CHF/USD, JPY/USD, etc.

MT4/MT5: No

Educational Material: Limited educational materials for beginners

Fees: $10 Inactivity Fee, $0 withdrawal fees

Minimum Deposit: $100

Special Features: High leverage

Payment Methods: Credit/debit card, Paypal, Bank transfer

our rating

  • Minimum deposit of $100
  • More than 2,000 trading instruments
  • Mobile app available
  • Limited educational materials
  • An inactivity fee is charged
80.5% of retail investors lose money when trading CFDs with this provider.

4. Capital.com – World's first AI-powered trading platform

Capital.com was founded in 2016 with the goal of integrating AI technology in the world of personal trading. As of 2020, this new innovative broker has more than 360,000 registered users on its platform and more than $13 billion traded in volume. Capital.com offers a variety of 2000 markets and products to trade on, through CFDs or Spread Betting.

Opening a Capital.com trading account requires a minimum deposit of 20 EUR, 20 USD, 20 GBP. But if you are not ready to start trading the live markets, Capital.com provides a Demo account, where you can practice your skills and get familiar with the trading platform use unlimited virtual funds.

Although Capital.com is a relatively new broker, it has gained the necessary licenses to provide a safe trading environment. Capital.com is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and by the Cyprus Security and Exchange Commission (CySEC) in Europe.

Regulation: CySEC, FCA, and MiFID

Assets: Indices, Forex, commodities, cryptocurrencies, and shares. CFDs and Spread Betting

Demo Account Size: Unlimited

Time Limit: Unlimited

MT4/MT5: No

Currency Pairs: Wide range of FX currency pairs.

Educational Material: Comprehensive education center – Guides, glossary, and online finance courses

Fees: Highly competitive spreads, no deposit, and withdrawal fee, no inactivity fee. Charges overnight fee.

Minimum deposit: 20 EUR, 20 USD, 20 GBP

Special Features:  AI-powered trading platform with personalized trading insights, risk management tools, advanced charting package and analytics tools, and award-winning trading platform.

Payment methods: Credit/Debit card, Wire Transfer, Sofort, iDeal, Giropay, Multibanko, Przelewy24, QIWI, Webmoney, Trustly, Neteller and Skrilll

Our Rating

  • Offers Spread Betting account
  • Features AI technology that analyses your trading behaviour
  • Zero commission policy and low spreads
  • Does not offer the MetaTrader4
  • No ETFs
There is no guarantee that you will make money with this provider.

5. FinmaxFX - Advanced Trading Platform and Tools

FinmaxFX, an international forex and CFD broker that was founded in 2019, is another great trading platform that allows users to practice their skills on a risk-free demo account before trading the real-live markets. Regulated by VFSC and IFMRRC, FinmaxFX offers investors to trade on a variety of products that include more than 180 stocks, commodities, 45+ cryptocurrencies, FX currency pairs, and 26 global indices.

On FinmaxFX, You will be able to trade with a leverage ratio of up to 1:200 but also use their trading signals service. Further, FinmaxFX has a range of five account types with the minimum requirement for the Micro trading account stands at $250. As for the trading platform, FinmaxFX gives you access to MetaTrader5, available as a web-based, desktop, or mobile app version.

The bottom line; FinmaxFX is a solid trading platform for investors who are looking for a regulated broker that offers the MetaTrader5 trading platform and trading signals service. Additionally, FinmaxFX is one of the few brokers that allow traders to use the Negative Balance Protection, which is a risk-management tool that ensures your account cannot become negative after a stop out.

Regulation: Vanuatu Financial Services Commission (VFSC), International Financial Market Relations Regulation Center (IFMRRC)

Assets: Forex, stocks, cryptocurrencies, commodities (CFDs and futures), indices, and bonds

Demo Account Size: $10,000

Time Limit: 30 days

MT4/MT5: Only MT5

Currency Pairs: GBP/USD, EUR/USD, USD/JPY, etc.

Educational Material: Video lessons, and eBooks

Fees: FinmaxFX charges 1 pip on major pairs for a VIP account, 3 pips for other account types, monthly inactivity fee, withdrawal fees, no deposit fees.

Minimum Deposit: $250

Special Features: Offers MT5 (Desktop, Web, and Mobile), margin calculator, automated trading (Expert-Advisor), Negative Balance Protection

Payment Methods: Credit card, Yandex Money, Bank Transfer, QIWI, e-Payments, Webmoney, Skrill, Neteller, and Vload

Our Rating

  • FinmaxFX offers a leverage ratio of up to 1:200
  • offers trading signals service
  • A range of five account types
  • A relatively Limited selection of products
  • FinmaxFX charges inactivity fee
There is no guarantee that you will make money with this provider.

6. IG - A Highly Regulated Broker with a Wide Range of Tradable Assets

If you are looking for a CFD broker that offers a wide range of financial instruments across various markets, then IG Markets is the broker of choice for you. IG provides access to more than 17,000 markets that include stocks, forex, indices, commodities, cryptocurrencies, bonds, and ETFs. But unlike other brokers that mostly offer the same assets, IG set itself apart from competitors in offering the ‘other markets’ – those include a range of fixed-risk digital 100s, knock-out-trading products, options, and interest rates securities.

One of the best advantages of using IG is that you will be able to trade more than 12,000 shares with a small initial deposit of $300. Investors from the United Kingdom can get a leverage ratio of 1:20 on shares, and 1:100 on currency pairs. Moreover, IG is known for its fast and reliable trade execution and extremely competitive spreads.

As to the demo trading account, IG allows you practice trading with $20,000 virtual funds, and gain access to the IG academy for free.

Regulation: FCA, MAS, CFTC, NFA, and ASIC

Assets: Forex, indices, shares, cryptocurrencies, commodities, bonds, and ETFs. CFDs and Spread Betting.

Demo Account Size: £10,000

Time Limit: Unlimited

MT4/MT5: Only MT4

Currency Pairs: 80 FX currency pairs.

Educational Material: IG Academy – online trading courses, interactive education section, and a free demo account.

Fees: 0.6 pip on major currency pairs,$ £12 monthly inactivity fee after 2 years of inactivity, no deposit and withdrawal fees

Minimum Deposit: $300

Special Features: A variety of trading platforms and advanced trading tools, DMA forex account, automated trading, great API services

Payment Methods: Credit/debit card, HKD FPS, and wire transfer

Our rating

  • Highly regulated broker
  • IG offers tight spreads and low trading fees
  • A wide range of more than 17,000 financial instruments
  • Charges inactivity fee
  • Minimum deposit is a bit high
There is no guarantee that you will make money with this provider.

7. AvaTrade – Spreads From 0.9 Pips For Major Forex Pairs

Launched in 2006, Avatrade is a global CFD and forex broker that facilitates the trading of over 56 currency pairs. Major currency pairs such as GBP/USD and EUR/USD can be traded for only 0.9 pips spread.

Like other well-known forex brokers, it is regulated by the Financial Conduct Authority (FCA) in the UK, Central Bank of Ireland and other top financial authorities in the world.

Creating a free demo account on Avatrade is simple and quick. You’ll only be required to provide your name, email and phone number to get started, and your Google and Facebook accounts can also be used to create a forex demo account.

Once you have access to the demo account, you can use the free $100,000 virtual money to improve your forex trading skills.

Regulation: FCA, Licenses in Ireland, Japan, South Africa, British Virgin Islands

Assets: Forex, thousands of CFDs, cryptocurrencies

Demo Account Size: $100,000

Time Limit: Unlimited

MT4/MT5: Yes

Currency Pairs: GBP/USD, AUD/USD/ USD/CHF, etc.

Educational Material: Limited educational resources for both new and expert traders

Fees: 0.9 pips on most major pairs, No withdrawal fee, No monthly inactivity fee

Minimum Deposit: $100

Special Features: Pricing alerts and notifications

Payment Methods: Credit/debit card, Bank wire

Our rating

  • MT4 and MT5 trading platforms are supported
  • Multiple licenses
  • Spreads from just 0.9 pips
  • Only 56 forex pairs supported
  • No research features
There is no guarantee that you will make money with this provider

8. FXCM - Regulated and Trusted Broker with a Wide Range of Innovative Tools

FXCM is one of the largest and highly popular UK-based online brokers. Established in 1999, FXCM offers to trade on forex pairs, cryptocurrencies, indices, stocks, and commodities. For UK investors who want to trade with FXCM, the minimum initial deposit is £300, and there are no deposit and withdrawal fees charged. Further, FXCM maintains low trading fees and offers very competitive spreads when compared to other brokers in the industry.

In addition to three types of accounts (Mini, Standard, and Active Trader accounts), FXCM features a risk-free spread betting and CFD trading demo account with a total amount of £50,000 of virtual money. Users can open a demo account on their proprietary trading platform, TradeStation, that is available as a web trader or the popular MT4 platform. Further, investors can get access to some of the most advanced trading tools in the markets such as API trading, traders’ sentiment, forex Python, and many more.

In terms of security and safety of funds, FXCM is also highly regulated by top-tier financial authorities in the United Kingdom, Australia, and South Africa.

Regulation: FCA

Assets: Forex, Forex baskets, indices, commodities, cryptocurrencies, and gold trading

Demo Account Size: $50,000

Time Limit: Unlimited

MT4/MT5: Only MT4

Currency Pairs: 39 currency pairs + forex index baskets.

Educational Material: Free online live classroom, trading guides, trading signals, and a demo account

Fees: Low trading fees – No Withdrawal Fee, No Deposit Fee, $50 Inactivity Fee after one year of inactivity. Competitive spreads for active traders.

Minimum Deposit: $50

Special Features: Spread betting account, a selection of professional trading platform, API trading, and trading analytics feature.

Payment methods: Credit/debit card, EFT/Bank wire, Skrill, Neteller, Klarna, and Rapid.

  • Great platform for API trading
  • Offers a tax-free spread betting trading account
  • Low trading and non-trading commissions
  • Not suitable for beginner traders
  • A narrow selection of tradeable products
There is no guarantee that you will make money with this provider.

9. FBS - Best Broker for Low Minimum Deposits and Zero Spreads

FBS is an online forex and CFD broker offering financial trading services in more than 190 countries as of 2020. The broker was founded a decade ago and, nowadays, is licensed and regulated by several authorities such as the Cyprus Securities and Exchange Commission (CySEC), and the Markets in Financial Instruments Directive (MiFID).

This broker not only offers investors to trade on both MetaTrader4 and MetaTrader5 but also allows users to get access to its proprietary FBS trading platform that is an all-in-one web-based trading platform, available on desktop and mobile app.

FBS has a selection of two account types – the Standard account and the Cent account. Those who wish to practice their skills and find out the available features and market execution at FBS can open a free demo account for each type of account. Another advantage of opening a demo account with FBS is the account size which can be up to $1 million.

Regulation: CySEC, MiFID

Assets: Forex, metals, indices, forex exotics, and energy

Demo Account Size: $1,000,000

Time Limit: 90 days

MT4/MT5:  MT4 and MT5

Currency Pairs: 37 currency pairs

Educational Material: Video lessons, webinars, forex guidebooks, tips for traders, and a demo account.

Fees: Fixed or variable spreads. Deposit and withdrawal fees vary based on the payment method. FBS Offers the option to trade on a zero-spread trading account.

Minimum Deposit: $1

Special Features: MT4 and MT5 are available. Forex TV section.

Payment methods: Credit/debit card (Visa and Mastercard), Bank Wire transfer, Skrill, Neteller, and Rapid Transfer.

  • Offers a free demo account for each account type
  • Known for its fast market execution
  • FBS offers fixed or variable spread trading accounts
  • Limited selection of markets and products
  • Charges deposit and withdrawal fees
There is no guarantee that you will make money with this provider.

10. ETX Capital – Trusted Broker With MetaTrader4

ETX Capital is an online CFD broker that offers clients to trade on more than 5000 markets through a variety of two trading platforms – the ETX Trader Pro, and the popular MetaTrader4. Founded in 1965, ETX Capital is one of the first and most experienced brokerage firms in the United Kingdom and worldwide.

Once you create a demo account with ETX Capital, you’ll be able to get access to the ETX MT4 or the Trader Pro where you can trade the live markets with no time limit. The benefit of trading with ETX Capital is the wise range of products and markets that includes shares from more than 20 countries, 60 currency pairs, and a selection of cryptocurrency pairs.

Regulation: FCA

Assets: Forex, indices, shares, commodities, and cryptocurrencies.

Demo Account Size: $10,000

Time Limit: Unlimited

MT4/MT5: MT4 only

Currency Pairs: 60 currency pairs.

Educational Material: Webinars, eBooks, guides, articles, etc.

Fees: 0.6 pips for the EUR/USD, deposit fee varies depending on the payment method, $25 monthly inactivity fee after 6 months of inactivity, no withdrawal fee

Minimum Deposit: £100

Special Features: Advanced trading platform, automated trading, daily market analysis.

Payment Methods: Credit/debit card, bank wire transfer, Skrill, Neteller, and Union Pay

  • More than 5000 markets are available
  • Regulated by FCA
  • Competitive spreads
  • Limited advanced trading tools
  • Charges inactivity fee
There is no guarantee you will make money with this provider.

How To Choose A Demo Account

We’ve given you our picks for the best forex demo accounts for 2020, but if you want to look a little deeper and further research platforms, we suggest keeping these factors in mind.

  • Account Size

Different forex demo accounts provide you with different amounts of funds, and ideally you want to choose the account that offers the most. For example, eToro offers a $100,000 demo account, which gives you plenty of play funds to work with.

You should also consider whether a forex demo account allows you to top up your virtual account if you run out of funds and whether there are any time restrictions. Some brokers automatically top-up demo accounts and let users use them for as long as they like, giving you more time to learn the markets and work on your strategy.

  • User Experience

Forex trading can seem a little confusing for beginners, which is why your chosen forex broker should provide a trading platform that has a user-friendly interface and is easy to navigate. This will help you quickly familiarize yourself with the different markets and features, making for an overall smoother introduction to the world of forex trading.

We also recommend choosing the best free forex demo accounts that provide access to a mobile trading app so you can trade on the go.

  • Regulation

To ensure your protection, you should only sign up to forex trading demo accounts that are regulated by respected governing bodies. eToro, for instance, is licensed by FCA, CySEC and ASIC, so it’s a reliable and trustworthy platform that can guarantee you that your funds and personal information will be kept safe.

  • Customer Support

You need a reliable customer support team who can provide you with assistance when needed. That’s why you should make sure that your forex broker has customer support team members who are active 24/7 and can be reached via the contact method that suits you, such as phone, email or live chat.

  • Available Markets

Different brokers offer different forex markets, so you should check out the markets it offers to ensure they match your preferences. Also consider factors like the spread, market opening hours, and whether there’s any commission fees.

If you’re also interested in trading other financial instruments, you may also want to choose a forex broker that offers other markets like cryptocurrencies, CFDs, ETFs, commodities and indices.

Note: Forex trading takes time to master, and most newbie investors lose money. This is why you need to have a firm understanding of the risks prior to getting started, as well as the strategies you can implement to mitigate your losses.

How to Open a Forex Demo Account On eToro

Creating a forex demo account on eToro is simple and quick. Simply follow the steps below and you’re good to go.

Step 1: Create an account

etoro sign up

Click on your ‘Visit eToro’ link to take you to the signup page and then click on the “Join Now” button. You’ll then need to provide your full name, email address, preferred username, phone number and password.

You also need to check two boxes to indicate that you accept and understand all the terms and conditions of using the eToro trading platform.

Step 2: Select ‘Virtual Portfolio’

etoro switch to demo account

After you’ve signed up, you’ll see a button that says ‘real’ underneath your user profile in the top left corner. Click it and then select ‘virtual’ to switch to your demo account.

3. Browse the markets

etoro demo account

You can immediately access the eToro forex demo account and begin trading. Browse the different forex markets and prepare to make your first demo trade.

Step 4: Open demo trades

forex demo trade etoro

Once you’re ready, it’s time to make your first demo trade. Simply select a market and whether you want to buy or sell, set the trade amount and your leverage, stop loss and take profit limits. Then click ‘Open Trade’ and your order will be placed.

Tips for Using a Forex Demo Account

  • Develop your strategy

Forex trading isn’t a walk in the park for beginners, and you’ll need to have a trading strategy if you’re to be successful. Using a free forex trading demo account is the best way to try out different strategies and find out what one works for you.

eToro is our recommended forex broker because it provides new traders with social and copy trading features. You can follow and mimic the positions of top-performing traders, all while learning they’re strategies. You can also interact with fellow users on eToro, allowing you to discuss different forex strategies.

Additionally, you should treat the virtual money you got from your forex demo account as if it is real money. By doing so, you’ll be more careful at placing every single trade position you want to make which, in turn, can also hone your self-control when trading.

  • Familiarize yourself with the platform and its trading tools

It’s important to fully understand the forex trading platform, the markets and all trading tools before you begin forex trading. For example, Leverage in forex trading gives you the opportunity to have a trading position that is higher than the funds you have in your account.

By using leverage, you can have a trade position worth $10,000 even if you only have $1,000 in your account. However, it’s not recommended for new traders to use leverage since it can also easily wipe out their funds when used for wrong trade positions, so use your demo account to get to grips with these tools before moving onto the real deal.

Conclusion

Forex trading demo accounts are the ideal way for new traders to build up their knowledge of the markets and develop their strategy without the risk of losing real money. Even if you’re a more experienced trader, you can still take advantage of demo accounts to trial new platforms and see whether they’re right for you.

Now we’ve taken you through the best UK forex demo accounts for 2020, you can begin your own forex trading journey now. If you’re looking for the top forex demo account, we recommend creating an account with eToro.

eToro : Best Forex Platform 2020

Visit etoro

  • Top Forex broker
  • Regulated by several financial authorities
  • Social and copy trading
75% of retail investors lose capital when trading CFDs with this provider.

FAQs

What is the best forex demo account?

Our pick for the best UK forex demo account is eToro, due to the $100,000 demo fund with no time limits, social trading tools and helpful educational materials.

What is a forex demo account?

A forex demo account is a free trading account offered by forex brokers. It has all the functionalities of the real trading account. It is mostly used by new traders.

How do I open a forex demo account?

Opening a forex demo account is fast and easy. Simply click the “Join Now” button on your preferred forex broker’s website and fill out all the required details. It will only take you a few minutes to do this.

Are forex demo accounts representative of real trading?

Yes. Forex demo accounts have the real-time prices of currency pairs as well as all the functionalities of real trading accounts so it feels like you’re trading using a real trading account.

What major differences are there between a demo and a real account?

You’re trading with virtual money when you’re using a forex demo account, so you can't make any profit. On the other hand, you’re using real money when you’re trading with a real trading account.

What is the difference between a demo trading account, trading simulator and paper trading account?

They all have the same meaning. Their aim is to help new traders get familiarized with the trading platforms offered by their forex brokers and help them form their own trading strategies.

How long should I spend trading on demo before getting started with real money?

It’s highly recommended that you try trading using your forex demo account for around three to six months before you start trading with real money.

Do all forex brokers demo accounts?

While there are many forex brokers with demo accounts in the UK, that doesn't mean every trading platform lets you try it for free. To save you searching, we recommend going with one of our recommended UK forex demo accounts.

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Janica Sherine is an expert writer who specializes in financial technology and cryptocurrency. At her young age, she was already able to work with founders who graduated from Harvard, tech startups funded by Y-Combinator, CEOs of multi-million dollar blockchain companies, investment companies in London and many more.

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eToro: Trade Forex with 0% Commission

eToro: Trade Forex with 0% Commission

eToro: Trade Forex with 0% Commission

Visit eToro

75% of retail investors lose money when trading CFDs with eToro.

eToro: Trade Forex with 0% Commission
Visit eToro

75% of retail investors lose money when trading CFDs with eToro.

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