Best Forex Brokers with Demo Accounts

A list of Top 10 Demo accounts Forex Broker

• Pepperstone
• FP Markets
• Fusion Markets
• BlackBull Markets
• XM 
• Exness
• Just Markets
• IC Markets
• Eightcap
• FXTM 

Best Forex Brokers with Demo accounts (Compared and Reviewed)

Pepperstone

Founded in 2010 by Owen Kerr and Joe Davenport, Pepperstone is an Australian-based forex and CFD broker that offers online trading services globally. The broker has offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau, and Nairobi. Pepperstone gives you access to trade more than 1,200 forex/CFDs on its powerful platforms: MT4, MT5, cTrader, and TradingView. With its technological infrastructure, Pepperstone offers lightning-speed executions, multiple trading tools, and low trading fees. It is regulated in seven jurisdictions and boasts over 400,000 clients from all over the world. 

Key Features:

• Trading Instruments: 1250+Trading instruments including Forex, Commodities, Cryptocurrencies, Shares/Stocks CFDs, etc 
• Maximum leverage: 1:30 for retail traders of ASIC, CySEC, FCA, and BaFin jurisdictions, 1:200 for SCB Jurisdiction, 1:400 for CMA Jurisdiction, and 1:500 for professional traders. 
• Minimum Deposit: No Minimum Deposit. However, Pepperstone recommends $200 or equivalent for the margin requirement. 
• Account Types: Two ( Standard account, Razor Account) 
• Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip. 
• PAMM/ MAM:  Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros:

• Pepperstone is regulated in 7 reputed jurisdictions, including FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA, and SCB in the Bahamas.
• Fast order execution is ensured with an average of 30 milliseconds.
• Competitive spreads starting from 0.0 pips are offered.
• Clients’ funds are segregated with tier 1 banks for added security.
• There are no inactivity fees associated with the platform.
• Attractive trading conditions are provided.
• Pepperstone offers over 1200 trading instruments for diverse investment opportunities.
• The platform facilitates fast and complete online account opening.
• MT4 Smart Trader Tools, Autochartist, Capitalise.ai, and free VPS are among the trading tools available for users.

Cons:

• US Traders are not allowed 
• Only CFDs are Offered 
• No cent/Micro Account 
• The minimum recommended deposit is $ 200
• Support works only 24/5  
• Limited account protection for non-U.K./E.U. clients
• No guaranteed Stop-loss 
• 30-day expiry for demo accounts

FP Markets

Established in 2005, FP Markets is an Australian-based forex and CFD broker that offers online trading services worldwide. It is a global brand regulated by multiple authorities, including ASIC, CySEC, SVG, FSA, and FSCA. The broker provides traders access to more than 10,000 trading instruments on its four platforms: MT4, MT5, IREAA, and cTrader. It also provides access to tools like Autochartist, Trading Central, free VPS, social trading, and more. FP Markets is a low-cost forex broker with spreads as low as 0.0 pips. 

Key Features:

• Trading Instruments: 10000+ trading instruments including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: up to 1:500 
•  Minimum Deposit: 100 AUS or equivalent. 
• Account Types: Offers 2 account types: Standard, Raw
• Fees: starting from 1.0 pips for a standard account, $3.5 commission on Raw account per side
• PAMM/ MAM:  Yes, 
• Zulutrade: Yes 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros :

• Regulated by ASIC, CySEC, FSCA, SVGFSA, AFS, FSP 
• The Maximum leverage is 1:500
• Offers popular trading platforms like MT4, MT5, cTrader, WebTrader, IRESS
• Hedging, Scalping, EA/Robot, and Copy trading are allowed 
• Easy, Fast, and Digital account opening
• Offers passive investment programs like MAM, PAMM Accounts
• Faster order execution (40ms) 
• FP Markets offers consistently tighter spreads from 0.0 pips

Cons:

• No FCA regulation. 
• The Minimum deposit is $100, which might be high for a beginner
• High Stock CFD fees 
• US traders are not accepted 
• Only two types of accounts ( Standard, Raw)

Fusion Markets:

Fusion Markets is an Australian forex and CFD broker founded in 2017. It was established with the vision of providing low-cost services, modern technology, and friendly support. Fees are waived on Visa, MasterCard, and PayPal deposits, and US shares trading incurs a 0 broker fee. The broker is regulated by ASIC, VFSC, and FSA in Seychelles. Fusion Markets allows the trading of forex and CFDs on its cTrader, MT4, and MT5 platforms. Social traders can use DupliTrade, AutoTrade, or Fusion+ platforms. Additional services include free VPS, Market Buzz, analyst views, and more.

Key Features

• Trading Instruments: 250+ Trading instruments Forex Metals Indices Energy & Soft Commodities Cryptocurrency US Share CFDs
• Maximum leverage: The maximum leverage of fusion markets is as high as 500:1. Leverage may vary based on jurisdiction and tradable assets. 
• Minimum Deposit: No Minimum Deposit required. You may deposit as low as possible. 
• Account Types: Two ( Zero Account, Classic Account) 
• Trading Fees: Spread starting from 0.9 pips for Classic Account or Commission $2.25 per lot per side for Zero Account.
• PAMM/ MAM:  Available
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros:

• Regulated by ASIC, VFSC, FSA
• The maximum leverage is as high as 1:500
• The minimum deposit is as low as $1 
• Allows scalping, News trading, EA/Robot trading 
• Offers passive investment programmes ( MAM, Copy Trading) 
• No Deposit withdrawal fees and inactivity fees 
• Fast and Easy Account Opening 
• Negative balance protection for users under ASIC regulations 
• Paypal and crypto deposits are available 

Cons:

• Not regulated by FCA, CySEC 
• No investor protection for non-EU clients
• Limited availability of localized customer support 
• Only CFDs are offered. No possibility of trading real stocks or assets 
• Limited product selections

BlackBull

Founded in 2014 in Auckland, New Zealand by Michael Walker and Selwyn Loekman, BlackBull is a forex and CFD broker that enables the trading of over 26,000 instruments including forex, CFDs, real stocks, and ETFs. The available platforms are MT4, MT5, TradingView, cTrader, BlackBull shares and BlackBull Trade. Social trading is through BlackBull CopyTrader and ZuluTrade. Trading tools such as free VPS and Autochartist are provided. 

Key Features

• Trading Instruments: 26000+Trading instruments including  
• Forex, Commodities (Energies, Metals), Equities, Indices, Metals, Futures (Agriculture, energies, Indices, others), and Cryptocurrencies 
• Maximum leverage: up to 1:500
• Minimum Deposit: Minimum deposit is as low as $0
• Account Types: Three ( ECN Standard, ECN Prime, ECN Institutional) 
• Trading fees (spreads and commissions): Depends on account types. The minimum spread is 0.0 pips for the ECN Institutional account, US$6.00 per lot for the ECN Prime account, and $0 per lot for the ECN Standard account.
• PAMM/ MAM:  Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros:

• Regulated by  FMA, FSPR, FSP, FSA-S
• Founded in New Zealand and operating globally
• Professional and Retail Trading options 
• No Minimum Deposit Requirement ($0) 
• The Maximum Leverage is as  high as 1:500
• Allow Scalping, News Trading, EA/Robot Trading 
• Offers Multiple Trading platforms including MT4, MT5, WebTrader, TradingView
• Supports multiple third-party copy trading platforms, such as ZuluTrade, DupliTrade, and Myfxbook.

Cons:

• BlackBull lacks additional Tier-1 regulatory licenses outside of New Zealand.
• $2,000 minimum deposit for Prime Account
• The Ctrader platform is not offered 
• Withdrawal fees 
• Limited Research Tools 
• Not very diverse range of tradable assets

XM

Founded in 2009, XM is a forex and CFD broker that offers online trading services globally. It provides access to over 1000+ trading instruments including forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, and shares. The broker is regulated by multiple reputable regulatory authorities, including FSC, ASIC, CySEC, DFSA, and FSCA. The broker offers a full edition of the popular MT4 and MT5 platforms, which include numerous proprietary indicators. XM offers a maximum leverage of 1:1000 to its clients. It is a low-cost broker with spreads starting from as low as 0.6 pips. 

Key Features:

• Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Turbo Stocks CFDs, Metals CFDs, Energies CFDs
• Maximum leverage: up to 1000:1 
•  Minimum Deposit: $5 or Equivalent
• Account Types: Micro, Standard, Ultra Low, Shares Accounts 
• Fees: Starting from 0.6 in Ultra-low account, 1 Pips for standard account, and 1 Pips for Micro account
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed 

Pros:

• Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
• Easy and fast account opening
• Minimum deposit is $5
• Over 1000 forex/CFDs are available for trading.
• MT4 and MT5 are the available trading platforms.
• Quality research, market analysis, and access to trading tools like Autochartist.
• Quality training for newbies and ‘ultra-low micro account’ for beginners.
• High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)

Cons:

• Dormant fees are charged after 3 months of no account activity.
• Trading of real stocks is not available to European traders.
• Traders have no other choice apart from the MetaTrader platforms.
• Limited tradable assets.
• No passive investment services (social trading platform, PAMM accounts);
• Funding with PayPal is unavailable

Exness

Established in 2008, Exness is a regulated forex and CFD broker. It is regulated by multiple jurisdictions. The broker gives access to trade more than 230 tradable instruments on its MT4 and MT5 Trading platforms. The broker allows copy trading, news trading, and EA Trading. You can start trading with as low as 0.01 lot in Exness. The broker also offers a very tight spread starting from 0.3 pips. The broker is regulated by FCA, CySEC, CMA, CBCS, FSCA, (FSC) in BVI, (FSC) in BVI Mauritius, and FSA in Seychelles. 

Key Features:

• Trading Instruments: 200+ trading instruments including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: up to Unlimited :1 
•  Minimum Deposit: $1 
• Account Types: Exness offers 5 different types of accounts including Standard, Standard Cent account, Pro,  Raw Spread, Zero accounts 
• Fees: starting from 0.2 pips for a standard account, 0.3 pips for a standard cent account, 0.1pip for a pro account, up to 3.50 per Lot per one side for a raw spread account, 0.05/lot per side for a zero account,
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• Top tire regulations ( FCA, CySEC, FSC, FSA-S SBCS, FSCA, BVI FSC, and so on. 
• The maximum leverage is as high as 1:unlimited or 1:2000
• The minimum deposit is as low as $1 or depends on payment methods
• Free VPS hosting; to qualify, you need to trade for a minimum of 14 days and lifetime deposits of $500;
• Competitive spreads starting from 0.2 pips on standard accounts
• Swap-Free/Islamic Account Provided
• Scalping, EA Trading, and Copy Trading are allowed 
• Instant Withdrawal of Money 24/7

Cons

• No Passive investment programme ( PAMM, MAM Accounts) 
• No Ctrader, Tradingview, zulutrade offered 
• US Traders are not accepted 
• Only MT4 and MT5 Trading Platforms 
• Limited educational resources

Just Markets

Founded in 2012, Just Markets is an online forex broker that offers forex and CFD trading facilities. Regulated by CySEC, FSC (Mauritius), and FSA (Seychelles), Just Markets provides a wide range of trading instruments, including Forex, CFDs, and Cryptocurrencies. The broker allows almost all trading styles, from scalping to EA Trading, Copy Trading, and news trading.

Just Markets offers multiple trading platforms such as MT4, MT5, and a mobile trader platform. For passive investors, Just Markets provides a “copy trading” platform. The broker offers leverage as high as 3000:1. Additionally, with floating spreads starting from 0 pips, Just Markets aims to provide competitive pricing for its clients.

Key Features:

• Applicable For: Applicable for all jurisdictions including CySEC, FSC, FSA-S, FSCA
• Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity. 
•  KYC Verification: Required 
• Trading Instruments:  Forex,CFDs, Gold, Oil.
• Trading Platforms: MT4, MT5, MetaTrader Webtrader
• Minimum Deposit:  $1
• Maximum Leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips for the Raw Spread account, $3 per lot for the Raw Spread account, and no commission for the Standard and Pro account.
• Minimum Trade Size: 0.01 lot. 
• Maximum Trade Size (Lot restriction per Ticket): 200 Lots 
• Funding Currencies: USD EUR GBP JPY MYR IDR THB VND KWD CNY ZAR AED NGN
• Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account. 
• Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
• Trading Style Allowed: All including Scalping, hedging, and EA Trading. 
• Stop Out Level (retail): 20%
• Margin Call Level: 50% 
• Negative balance Protection: Yes 
• Investor Protection:  Available under ASIC and CySEC regulations. However, the Investor protection scheme does not apply to FSA jurisdiction. 

Pros:

• Regulated by CySEC, FSC, FSA-S 
• The minimum deposit is as low as $1 
• Maximum Leverage is 1:3000 (up to 1:30 for retail clients and up to 1:3000 for professional clients on justmarkets.eu )
• All strategies are allowed (Scalping, News trading, EA Trading) 
• Negative balance protection;
• Multilingual support 24/7.
• MetaTrader 4/5 Offered
• Spreads from 0 pips
• 170+ trading instruments

Cons:

• Not regulated by tire regulators like FCA, ASIC 
•  No passive investment program ( MAM, PAMM Accounts) 
•  US, UK, or Japan Traders are not accepted 
•   A small selection of trading instruments;
• Sometimes it takes time to receive a response from technical support;
•  3% withdrawal fees if you do not have any trading activities

IC Markets

Founded in 2007 by Andrew Budzinksi, IC Markets is an Australian-based forex and CFD broker offering trading services to institutional and retail traders worldwide. The broker offers 2250+ trading instruments including  Forex, commodities, indices, bonds, stocks, futures, and cryptocurrencies. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele. 

Key Features:

• Regulations: ASIC, CySEC, and FSA
• Trading Instruments: 2150+ including  Forex, commodities, indices, bonds, stocks, futures, cryptocurrencies
•  Minimum Deposit: $200 or Equivalent
• Maximum leverage: up to 1000:1 in FSA jurisdiction, in some countries, it offers 500:1 leverage, for ASIC, and CySEC entity the brokers offers up to 1:30 leverage.   
• Account types: Standard Account and Raw Account (Metater, Ctrader) 
• Fees:  Spread starting from 0.8  pips for Standard Account or 3.00 to 3.50 per lot for Raw Account on a single Trip. 
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction) 
• Super fast trade execution speed 
• Straightforward registration process 
• Low spread, starting from 0 pips. 
• Easy and Fast Account Opening 
• Free deposit and withdrawal 
• Offers standard and raw spread account
• Trading EA is Allowed 
• Ability to trade from a mobile device 
• A demo Account is available

Cons

• Higher minimum deposit 
• No investor protection for non-EU Clients 
• Limited Product Selection 
• No weekend Trading 
• US Traders are not accepted

Eightcap:

Founded in 2009, Eightcap is an Australian-based forex and CFD broker that offers online trading services worldwide. The broker is regulated by top-tier regulatory bodies, including ASIC, FCA, CySEC, SCB, and FSASVG. It allows the trading of over 800 instruments, including forex, shares, commodities, indices, and cryptocurrencies. Eightcap offers popular trading platforms and tools like MT4, MT5, TradingView, WebTrader, an AI-powered economic calendar, Capitalise.ai, and Flash Trader for smart trading. The broker also provides daily trade ideas, professional trading insights, and code-free automation.

Key Features:

• Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: up to 500:1 for SCB regulation, and 30:1 for ASIC, CySEC, and FCA Jurisdiction.  
•  Minimum Deposit: $100 or Equivalent
• Account Types: Three Types of Accounts including Raw Account, Standard Account, Trading View Account 
• Fees: about $3.5 per lot on each side for the raw account, 1 pip spread for the standard account, 1 pip spread for the Tradingview account 
• PAMM/ MAM:  Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros:

• Regulated by ASIC, FCA, VFSA 
• The Maximum Leverage is as high as 1:500
• Offers passive investment programme(MAM, PAMM accounts) 
• No Deposit/Withdrawal Fees
• Easy To Open An Account
• Scalping and EA Trading are allowed 
• 100+ Crypto CFDs available

Cons:

• Minimum deposit is $100
• No Investor Protection for non-EU Clients
• The Broker is not regulated by FCA UK 
• Conditions and trading costs vary according to the entity
• Hedging is not allowed with the ASIC entity
• No joint accounts, copy trading, referral program, or other options for passive income

FXTM

Founded in 2011, FXTM is a forex and CFD broker that offers online trading services globally. The broker is regulated by multiple regulatory authorities including CySEC, CMA, FCA, FSCA, FSC-Mauritius. The broker has 10000+ trading instruments including forex, CFDs, Stocks, Commodities like gold, silver, and oil, and cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The broker offers most popular trading platforms like MT4 and MT5. FXTM serves clients from over 150 countries and has over 45 industry awards for excellent services.

Key Features

• Trading Instruments:  FX, Spot Metals, Index CFDs, Commodity CFDs, Cryptocurrency CFDs, Stock CFDs (only MT5)
• Maximum leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
• Minimum Deposit. 100 Euros, US dollars or British pounds 
• Account Types: Two (Advantage and Advantage Plus
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($35 per million per side) for the Advantage account and 1.5 pips (No commission) for the Advantage plus account.  
• PAMM/ MAM:  Allowed
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA) 
• Minimum deposit is $10
• The Maximum leverage is as high as 1:2000
• Ultra-low spreads starting from as low as 0 pips 
• Offers Copy Trading & MAM Accounts
• A wide range of trading instruments 
• Negative balance protection for EU Clients 
• Over 30 Payment Methods 

Cons

• Inactivity and withdrawal fees
• Does not support Myfxbook or ZuluTrader options for social trading
• No futures or options trading
• No negative balance protection for Non-EU Clients 
• Most withdrawal options have a fee
• Large spread on standard Account 

Can I trust these Demo accounts Forex Brokers?

Yes, you can trust these Demo accounts Forex Brokers. Brokersway recommends brokers based on facts and findings. We evaluate brokers based on 170 data points grouped into 6 macro categories including regulations and security, fees, Trading experience, trading tools, customer support, and trading education. Multiple regulatory authorities regulate these brokers. So they are legit and trusted. Here are the regulations of these brokers

• Pepperstone: Regulated by 7 regulatory authorities including FCA, ASIC, CySEC, BaFin, DFSA, CMA, and SCB
• FP Markets: Regulated by 5 Regulatory Authorities including ASIC, CySEC, FSA, FSCA, SVG
• Fusion Markets: Regulated by 3 Regulatory Authorities including ASIC, VFSC, and FSA
• BlackBull Markets: Regulated by 2 Regulatory Authorities, including FMA, FSA-S
• XM: Regulated by 5 Regulatory Authorities including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global)
• Exness: Regulated by 8 Regulatory Authorities including CySEC, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI)
• Just Markets: Regulated by 5 regulatory authorities, including CySEC, FSC- Mauritius, FSA-S, FSCA.
• IC Markets: Regulated by 3 Regulatory Authorities including FCA, CySEC, and ASIC
• Eightcap: Regulated by 5 Regulatory Authorities including ASIC, FCA, CySEC, SCB, and FSASVG
• FXTM: Regulated by 5 Regulatory Authorities including CySEC, CMA, FCA, FSCA, FSC-Mauritius

How Did We Select These Demo accounts Forex Brokers?

To select the best forex brokers with Demo accounts, we follow the procedures below.

Research:

To choose the best forex brokers with Demo accounts, we conducted extensive research, focusing on the spreads, features, services, and regulations associated with each broker. We analyzed market trends, broker offerings, and user feedback to understand what traders value most. This comprehensive approach allowed us to build a solid foundation for our evaluations.

Data Collection:

We gathered data from various reliable sources, including official regulatory bodies, broker websites, and reputable financial news platforms. This data encompassed key metrics such as trading fees (spreads, commissions),  available assets, leverage options, and client support services. Additionally, we considered user reviews and testimonials to gauge trader satisfaction and experiences.

Verification:

After collecting data, we verified the information to ensure accuracy and reliability. This step involved cross-referencing details from multiple sources, including regulatory websites and independent reviews. By ensuring that our data is accurate, we aim to present an honest assessment of each broker’s strengths and weaknesses.

Live Testing:

We conducted live testing of the shortlisted brokers to provide a real-world perspective. This involved opening Demo accounts and executing trades to evaluate the trading platforms, order execution speed, and customer service responsiveness. Our live testing process allowed us to assess each broker’s performance under actual market conditions, providing valuable insights into their functionality.

Scoring:

Finally, we scored each broker based on a set of criteria, including regulatory compliance, trading costs, platform usability, available trading instruments, customer support, and overall user experience. Each category was assigned a specific weight, reflecting its importance in the trading process. The scores helped us rank the brokers, ensuring that our recommendations align with the needs and preferences of traders who want to trade with Demo accounts forex brokers.