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Best Forex Demo Accounts In 2023

In the world of forex trading, experience is the ultimate teacher. Yet, making rookie mistakes with real money can be costly. Thankfully, forex demo accounts offer a practical, risk-free avenue for beginners to practice and pros to refine strategies. Discover the best ones in our comprehensive guide.

AvaTrade stands out as our top choice due to its user-friendly interface, robust educational resources, and unmatched platform stability. It ensures both beginners and experts trade with confidence.

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No Time to Spare? Here Are the Best Forex Demo Accounts in 2023

AvaTrade launches new copy trading solution: AvaSocial


Robust offerings, multiple platforms, global presence.



File:Etoro logo.svg - Wikimedia CommonseToro

User-friendly, innovative platform with social trading features. Reviews | Read Customer Service Reviews of

Advanced tools, diverse assets, user-focused, reliable trading environment.



CM Trading review - Should this FX broker be trusted?CMTrading
Innovative platforms, broad instruments, client-focused, secure trading.


FXCM Review Review 2023 - Investing.comFXCM

Trusted globally, offers comprehensive research, versatile platforms.

easyMarkets Review 2021 - Trade Hundreds of Assets at Regulated brokereasyMarkets

Straightforward trading, fixed spreads, intuitive platforms, customer-centric approach.


Best Forex Demo Accounts – Full Analysis (Updated in 2023)

Advanced tools, diverse assets, user-focused, reliable trading environment.


  • Minimum Deposit: $100
  • Our Score: 79.5%
  • Tradeable Symbols: 250+
  • Maximum Leverage: 1:30 – 1:400 for professional accounts

AvaTrade consistently ranks among the top forex brokers globally and for good reason. Established in 2006, it boasts a rich history of providing a reliable and user-centric trading platform. Catering to both novices and seasoned traders, AvaTrade offers a seamless blend of intuitive tools and robust educational resources. 

Its platform stability is unmatched, reducing trade errors and system glitches. The broker employs state-of-the-art encryption and stringent regulatory adherence, creating a high level of trust. AvaTrade has a global reach and a commitment to transparency. Intrigued? Dive deeper with our full review.


  • Intuitive User Interface: Seamlessly designed for easy navigation, making the trading experience smooth for beginners and experts alike.
  • Robust Educational Resources: Comprehensive tutorials, webinars, and guides cater to every trader’s educational needs and skill enhancement.
  • Unmatched Platform Stability: A reliable system with minimal glitches, ensuring trade executions are both timely and error-free.


  • Limited Customizability: While user-friendly, the platform sometimes restricts advanced users from full interface personalisation.
  • Withdrawal Delays: Some users report occasional delays in withdrawing funds, impacting cash flow and trading decisions.

Try AvaTrade


etoro home

  • Minimum Deposit: $50
  • Our Score: 98%
  • Tradeable Symbols: 3,000+
  • Maximum Leverage: 1:30 – 1:400 for professional accounts

eToro is a pioneer in the realm of social trading and has transformed the landscape of online trading since its debut in 2007. Its unique CopyTrading feature enables novices to replicate the trades of experienced investors, democratising investment insights. 

The platform boasts a user-friendly interface and a diverse asset range, making portfolio diversification a breeze. Additionally, eToro strongly emphasises community engagement, fostering a vibrant trading network. 

While its fee structure can be a tad complex for beginners, the platform’s overall offerings outweigh this minor setback. Want to know more about all eToro has to offer? Check out our comprehensive review here to discover more.


  • Innovative CopyTrading Feature: Allows beginners to mirror trades of experienced investors, making skilful trading accessible to all.
  • User-friendly Interface: Designed for ease and efficiency, catering to traders of all experience levels.
  • Diverse Asset Range: Offers a wide variety of assets, facilitating comprehensive portfolio diversification.


  • Complex Fee Structure: This can be perplexing for newcomers, needing thorough research before trading.
  • Withdrawal Restrictions: Some users have reported challenges with minimum withdrawal limits and associated fees.

Try eToro Home

  • Minimum Deposit: $100
  • Our Score: 71.67%
  • Tradeable Symbols: 2,200+ 
  • Maximum Leverage: 1:30 – 1:300 for professional accounts has progressively built a global following since its inception in 2008. The broker is celebrated for its advanced analytical tools, which empower traders to make informed decisions backed by real-time data. 

The platform stands out with its extensive educational resources, ensuring that traders, new or seasoned, continually elevate their skills. Coupled with its competitive spreads and robust security infrastructure, creates a trustworthy trading environment. 

However, a more streamlined user interface could further enhance the user experience. To learn more about, check out our extensive review here.


  • Advanced Analytical Tools: Equips traders with real-time data insights, facilitating well-informed trading decisions.
  • Extensive Educational Resources: Comprehensive materials cater to both newbies and experts, fostering continual skill enhancement.
  • Competitive Spreads: Offers favourable trading conditions, making it an attractive choice for cost-conscious traders.


  • Interface Complexity: Some users find the platform less intuitive, requiring a steeper learning curve for newcomers.
  • Occasional Withdrawal Delays: Reported by a minority, these can be an inconvenience, especially during critical trading moments.



  • Minimum Deposit: $250
  • Our Score: 65.33%
  • Tradeable Symbols: 150+
  • Maximum Leverage: 1:30 – 1:200 for professional accounts


CMTrading is a recognised player in the trading domain, distinguishing itself with its innovative CopyKat trading feature. This standout tool empowers novices by allowing them to mirror the strategies of seasoned traders, levelling the playing field in the vast financial market. 

Beyond this groundbreaking feature, CMTrading offers a platform replete with robust analytical tools, ensuring traders can make decisions based on real-time insights. An array of educational materials complements their offerings, catering to traders at all skill levels. 

While its advantages are manifold, a deeper dive reveals more. For an in-depth picture of CMTrading, check out our comprehensive review here.


  • CopyKat Trading Feature: Enables novices to emulate expert traders’ strategies, democratising access to seasoned trading insights.
  • Robust Analytical Tools: Provides real-time market insights, helping traders make data-backed decisions.
  • Comprehensive Educational Materials: Offers resources for all, ensuring continuous skill development and market understanding.


  • Higher Minimum Deposit: Compared to some competitors, some users may feel starting an account requires a more substantial financial commitment.
  • Limited Platform Customization: While functional, the platform could offer more personalisation options for seasoned traders.

Try CMTrading



  • Minimum Deposit: $50
  • Our Score: TBA
  • Tradeable Symbols: 2,800+
  • Maximum Leverage: 1:30 – 1:300 for professional accounts

FXCM is synonymous with forex trading and has long been a trusted partner for traders worldwide. Renowned for its transparent pricing model and state-of-the-art trading tools, FXCM ensures both beginners and experts have resources tailored to their needs. 

One of its hallmarks is advanced charting, which offers unparalleled market insights, allowing for informed decision-making. Together with a dedicated customer support team and an expansive educational library, FXCM positions traders for success in the volatile forex market. 

However, like any platform, it’s not without its nuances. To find out more about FXCM, take a look at our full review here.


  • Transparent Pricing Model: FXCM is known for clear, straightforward pricing, ensuring no hidden charges surprise traders.
  • Advanced Charting Tools: Provides in-depth market insights, allowing traders to strategise with comprehensive data.
  • Dedicated Customer Support: An attentive team ensures prompt assistance, enhancing the overall trading experience.


  • Platform Learning Curve: New users might find initial navigation a bit challenging due to its advanced features.
  • Higher Trading Costs: Compared to some competitors, FXCM has slightly higher fees or spreads for certain trades.



Easymarkets Home

  • Minimum Deposit: $100
  • Our Score: 63.75%
  • Tradeable Symbols: 199
  • Maximum Leverage: 1:30 – 1:400 for professional accounts

easyMarkets opened its doors in 2001 and has progressively become a go-to platform for many traders, owing much to its commitment to simplicity and transparency. Designed with both novices and seasoned traders in mind, it offers an intuitive platform experience combined with risk management tools like dealCancellation. 

Their focus on education is evident, with a variety of resources ensuring continuous trader development. Moreover, the platform’s fixed spreads model guarantees no surprise costs. However, as every platform has its nuances, understanding its full scope is crucial. 

To find out if easyMarkets aligns with your trading goals. Dive into our comprehensive EasyMarkets review here for a deeper analysis.


  • Intuitive Platform Design: Tailored for traders of all levels, ensuring a seamless and user-friendly trading experience.
  • Risk Management Tools: Features like dealCancellation provide an added layer of security in uncertain trading situations.
  • Fixed Spreads Model: Guarantees transparency in costs, eliminating unforeseen or hidden charges during trades.


  • Limited Product Range: Compared to some competitors, the range of tradable assets might feel a bit restrictive.
  • Mobile App Limitations: While functional, the mobile app could benefit from added features and smoother performance.

Try easyMarkets

Why Use a Forex Demo Account?

A Forex demo account is a way to gain theoretical knowledge and apply it to a real-world trading experience. It acts as a sandbox, allowing traders to hone their skills without the risk of financial loss. For beginners, it offers a first-hand experience of the dynamic world of forex trading, facilitating an understanding of market behaviours, strategies, and the intricacies of the trading platform.

Seasoned traders also find value in demo accounts. They can test new strategies, analyse potential pitfalls, or familiarise themselves with a new trading platform’s interface without jeopardising actual capital. Furthermore, with the rapid technological advancements in trading platforms, a demo account ensures that traders remain updated and agile.

A Forex demo account reduces the learning curve, minimises risks, and increases the probability of success in the live markets. It’s an indispensable tool for anyone serious about mastering the art and science of forex trading.

Pros and Cons of Using a Forex Demo Account


  • Risk-Free Learning Environment: New traders can understand market dynamics without risking real capital.
  • Strategy Testing Ground: Offers seasoned traders a space to test and refine strategies, optimising for success.
  • Platform Familiarisation: Enables users to explore platform features, ensuring a smooth transition to live trading.


  • Lacks Real Market Emotion: Simulated trading can’t replicate the psychological pressures of real financial stakes.
  • Potential Overconfidence: Success in a risk-free setting might lead to overestimating one’s abilities in live markets.
  • Limited Time Access: Some platforms restrict the duration of demo accounts, limiting extended practice opportunities.

How to Choose the Best Forex Demo Account

  • Realistic Trading Environment: A high-quality demo account should closely copy real market conditions. This includes live pricing, market volatility, and liquidity scenarios. The more realistic the demo environment, the better equipped a trader will be when transitioning to a live account.
  • Full Platform Functionality: The demo must provide access to all the tools and functionalities the platform offers in a live setting. This includes charting tools, technical indicators, and order execution types. A full-featured demo ensures you’re not caught off-guard with unfamiliar tools in live trades.
  • No Time Limit: The ideal forex demo account would have no expiration. Unlimited access means traders can practice at their own pace, ensuring they’re truly ready and confident to transition to real trading. Time constraints can rush the learning process, which might not be optimal for many traders.
  • Customer Support: Even though it’s a demo, having access to customer support is crucial. This allows traders to address technical issues, understand platform functionalities, and get a feel for the quality of service they can expect once they go live.
  • Educational Resources: A top-tier demo account should come paired with comprehensive educational resources. This can include webinars, tutorials, articles, and even one-on-one training sessions. Such resources can drastically accelerate a trader’s learning curve, making them more prepared for actual trading.
  • Continuous Demo Access with Live Account: Even after transitioning to a live account, the ability to access the demo platform can be invaluable. Traders can use it to test new strategies, explore unfamiliar assets, or simply refresh their skills without putting real money on the line.

Alternatives to Forex Demo Accounts


TradingView has rapidly risen as a premier choice for traders, not just for forex but across various financial markets. This platform offers advanced charting tools, social networking features, and an intuitive design. It allows traders to observe, learn, and even share their strategies. 

Users benefit from a vast array of indicators and a global community that actively shares insights. Moreover, its free version provides ample functionality for those not ready to commit to a paid subscription, making it an excellent starting point for newcomers to the trading scene.

MT4 Platform

The MetaTrader 4 (MT4) platform remains a stalwart in the forex trading community. Boasting powerful technical analysis tools, algorithmic trading capabilities, and automated trading scripts, MT4 offers something for every type of forex trader. Its user-friendly interface, combined with robust features, allows traders to customise their trading experience. 

Additionally, MT4’s Expert Advisors (EAs) enable automatic trading based on predefined criteria, freeing traders from the need to constantly monitor the markets. MT4 remains a top contender for those seeking a dynamic yet seasoned platform.

Forex Demo Account Fees

Forex demo accounts are predominantly free, meaning there’s typically no requirement to deposit cash or incur fees to utilise their services. Their design copies live trading environments, and ideally, any spreads and trading fees should be reflected in the demo account balance. This feature accurately replicates the results of a live trading account. 

Allowing you to see the actual costs a trader might face in a live setting. However, platforms like TradingView, while immensely valuable for analysis and insights, might not always replicate these fee deductions in their demo or paper trading scenarios. Traders must be aware of such discrepancies when transitioning from a demo to a live trading environment.


Can I access a demo account on mobile devices?

Most reputable forex brokers have mobile applications or mobile-friendly platforms that allow users to access their demo accounts on the go. It’s advisable to check the platform’s features or the broker’s website to confirm mobile compatibility, ensuring uninterrupted practice wherever you are.

How different is a demo account from a paper trading account?

While both demo accounts and paper trading accounts provide simulated trading experiences without risking real money, they might cater to different markets. Forex demo accounts specifically focus on currency trading. In contrast, paper trading accounts can encompass a broader range of assets, including stocks, commodities, and more.

Can the balance be reset in a demo account? 

Yes, in most cases, brokers allow users to reset the virtual balance in their demo accounts. This feature is beneficial if traders have exhausted their initial virtual funds due to practice trades or wish to start afresh with a new strategy.

Are the market conditions in demo accounts updated in real time? 

Absolutely! There’s no restriction on the number of demo accounts you can open across various brokers. In fact, trying out multiple platforms can be advantageous, as it allows you to compare features, tools, and the overall user experience, helping you find the most suitable broker for your trading needs.


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