Which broker has the best forex demo account?
Pepperstone has the best forex demo account on our ranking, with US$50,000 in virtual cash on MT4, MT5, cTrader and TradingView, and cTrader and TradingView demos that do not expire. IC Markets ranks second, with unrestricted virtual funds across the same four platforms, though a demo expires after 30 days of inactivity. OANDA ranks third, letting you open a demo on any of its platforms and see its real-time spreads with virtual funds first. Fintrix Markets offers US$100,000 in virtual money, the largest stated balance of the ten.
Ordered by our overall rating, highest first, among brokers whose review documents their demo account.
- Pepperstone: US$50,000 virtual, four platforms
- IC Markets: unrestricted virtual funds, up to 20 demos
- OANDA: demo on any of its platforms
- Fusion Markets: demo mirrors its live accounts
- BlackBull Markets: six demo platforms, the widest set
- Exness: US$10,000 virtual, own terminal
- FP Markets: free demo, four platforms
- Eightcap: US$50,000 adjustable, 30 days
- Fintrix Markets: US$100,000 virtual, the largest stated
- Vantage: demo on its own web platform and app
Forex demo accounts compared, from our broker reviews
| Rank | Broker | Score | Demo platforms | Virtual balance | Demo length | Live min. deposit | Regulators | Visit |
|---|---|---|---|---|---|---|---|---|
| 1 |  Pepperstone | 93.5 | MT4, MT5, cTrader, TradingView | US$50,000 | 60 days on MT4 and MT5 (extendable once funded); no expiry on cTrader and TradingView | US$0 | FCA, ASIC, BaFin, CySEC + 4 more | Visit |
| 2 |  IC Markets | 89 | MT4, MT5, cTrader, TradingView | Unrestricted | Expires after 30 days of inactivity; up to 20 demo accounts | US$200 | ASIC, CySEC, FSA, SCB, CMA | Visit |
| 3 |  OANDA | 88.3 | MT4, TradingView, OANDA platform | Not stated | Not stated | US$0 | CFTC, NFA, FCA, ASIC + 5 more | Visit |
| 4 |  Fusion Markets | 85 | MT4, MT5, cTrader, TradingView | Not stated | Not stated | US$0 | ASIC, VFSC, FSA | Visit |
| 5 |  BlackBull Markets | 84.5 | MT4, MT5, cTrader, TradingView, CopyTrader, BlackBull Invest | Not stated | Not stated | US$0 | FMA, FSA | Visit |
| 6 |  Exness | 80 | MT4, MT5, Exness Terminal | US$10,000 | Not stated | US$200 | FCA, FSCA, CySEC (institutional) + 7 more | Visit |
| 7 |  FP Markets | 78.4 | MT4, MT5, cTrader, TradingView | Not stated | Not stated | US$100 | ASIC, FSA, FSC-M + 2 more | Visit |
| 8 |  Eightcap | 77.5 | MT4, MT5 (no TradingView demo) | US$50,000, adjustable | 30 days, then extension or permanent on request | US$100 | ASIC, FCA, CySEC + 3 more | Visit |
| 9 |  Fintrix Markets | 73 | MT4, MT5, WebTrader | US$100,000 | Not stated | US$0 | FSC Mauritius | Visit |
| 10 |  Vantage | 71 | MT4, MT5, TradingView, web and app | Not stated | Not stated | US$200 | ASIC, FCA, FSCA + 2 more | Visit |
Some of the abbreviations on this page are expanded to the regulator's full name: a broker regulated by ASIC is regulated by the Australian Securities and Investments Commission; by FCA, the Financial Conduct Authority; by DFSA, the Dubai Financial Services Authority; by CIRO, the Canadian Investment Regulatory Organization.
The demo terms in this table come from our review of each broker, and "Not stated" means our review does not record that term. The live minimum deposit is the amount you need to switch from the demo to a real account.
Broker reviews
1. Pepperstone
Demo platforms
MT4, MT5, cTrader, TradingView
Virtual balance
US$50,000
Demo length
60 days (MT4, MT5); none (cTrader, TradingView)
Live min. deposit
US$0
Why Pepperstone Ranks First
Pepperstone takes first place among the ten on our published rating, which scores brokers on costs, platforms, trust, service and more. Its demo accounts come with US$50,000 in virtual cash and run on MT4, MT5, cTrader and TradingView, on Standard or Razor account pricing, so you can practise on the exact pricing you plan to trade live. There is no minimum deposit to go live, and its regulators include the FCA (UK), ASIC, BaFin, CySEC, DFSA and SCB. Our rating for Pepperstone is 93.5.
What To Weigh
The MT4 and MT5 demo accounts last 60 days, though you can extend them once you fund a live account. If you want a demo that never expires, the cTrader and TradingView options have no time limit. Without a live account you can hold up to five demos, split as two on MT4, one each on MT5, cTrader and TradingView. Fund a live account and the cap rises to ten.
Pros & cons
- US$50,000 in virtual cash on the demo
- Four platforms, including cTrader and TradingView
- No minimum deposit to go live
- MT4 and MT5 demos expire after 60 days
- Only five demos without a funded account
2. IC Markets
Demo platforms
MT4, MT5, cTrader, TradingView
Virtual balance
Unrestricted
Demo length
Expires after 30 days inactive
Live min. deposit
US$200
Why IC Markets Ranks Second
IC Markets ranks second on our published rating, 89. Its demo accounts run on MT4, MT5, cTrader and TradingView, with unrestricted virtual funds, so you are not working from a fixed starting balance. You can open up to 20 demo accounts, the largest allowance of the ten, which is handy if you want to test several strategies side by side. Its regulators include ASIC, CySEC, the FSA (Seychelles), the SCB and the CMA.
What To Weigh
A demo expires after 30 days of inactivity, so if you pause your practice for a month you will need to start again. Keep that in mind if you trade in bursts. When you are ready to move to a live account, the minimum deposit is US$200, higher than several brokers on this page.
3. OANDA
Demo platforms
MT4, TradingView, OANDA platform
Virtual balance
Not stated
Demo length
Not stated
Live min. deposit
US$0
Why OANDA Ranks Third
OANDA ranks third on our published rating, 88.3. Our review says you can open a demo account on any OANDA platform you choose, whether that is MT4, TradingView or OANDA's own platform, and see its real-time spreads with virtual funds before you open a live account. There is no minimum deposit to go live. Its regulators include CIRO (Canada), ASIC, the CFTC and NFA (US), the FCA (UK) and MAS. Our review does not record its virtual balance or how long the demo lasts.
4. Fusion Markets
Demo platforms
MT4, MT5, cTrader, TradingView
Virtual balance
Not stated
Demo length
Not stated
Live min. deposit
US$0
Why Fusion Markets Ranks Fourth
Fusion Markets sits fourth in our ranking with a rating of 85. Our review records that its demo accounts mirror its live accounts and their trading platforms: MT4, MT5, cTrader, and TradingView. There is no minimum deposit to go live. This suits you if you want the practice environment to match the live account you plan to fund, so nothing changes when you switch from virtual money to your own.
5. BlackBull Markets
Demo platforms
MT4, MT5, cTrader, TradingView, CopyTrader, BlackBull Invest
Virtual balance
Not stated
Demo length
Not stated
Live min. deposit
US$0
Why BlackBull Markets Ranks Fifth
BlackBull Markets takes fifth place with a rating of 84.5. Its demo accounts run on MT4, MT5, cTrader, TradingView, BlackBull CopyTrader, and BlackBull Invest, the widest demo platform set of the ten. The live account has no minimum deposit. If you want to trial copy trading or share investing alongside forex on virtual money before committing funds, this is the demo set that covers the most ground.
6. Exness
Demo platforms
MT4, MT5, Exness Terminal
Virtual balance
US$10,000
Demo length
Not stated
Live min. deposit
US$200
Why Exness Ranks Sixth
Exness ranks sixth with a rating of 80. Its demo account gives you US$10,000 of virtual currency on MT4, MT5, and the broker's own Exness Terminal. The live minimum deposit is US$200 in our dataset. Our review does not record a demo expiry for this broker. This suits you if you want to practise on the Exness Terminal specifically, since the demo runs on the broker's own interface rather than third-party platforms alone.
7. FP Markets
Demo platforms
MT4, MT5, cTrader, TradingView
Virtual balance
Not stated
Demo length
Not stated
Live min. deposit
US$100
Why FP Markets Ranks Seventh
FP Markets comes seventh with a rating of 78.4. Its demo account is free, and you choose Demo as the account type when you set it up. The demo runs on MT4, MT5, cTrader, and TradingView, and the live minimum deposit is US$100. Our review does not record a virtual balance or expiry for this broker. If you want a straightforward free trial across the four major platforms before a modest deposit, this fits well.
8. Eightcap
Demo platforms
MT4, MT5 (no TradingView demo)
Virtual balance
US$50,000, adjustable
Demo length
30 days, extendable
Live min. deposit
US$100
Why Eightcap Ranks Eighth
Eightcap holds eighth place with a rating of 77.5. Each demo starts with US$50,000 in virtual currency, which you can adjust, and it runs on MT4 and MT5 only; TradingView is not available for demo trading. A demo is valid for 30 days at first, and you can ask for an extension or a permanent demo. Registration asks for your email, address, and trading intentions, and no payment details. The live minimum deposit is US$100.
9. Fintrix Markets
Demo platforms
MT4, MT5, WebTrader
Virtual balance
US$100,000
Demo length
Not stated
Live min. deposit
US$0
Why Fintrix Markets Ranks Ninth
Fintrix Markets sits ninth with a rating of 73. Its free demo account is funded with US$100,000 in virtual money, the largest stated balance of the ten, for testing MT4, MT5, and its WebTrader before you deposit. MT4 and MT5 run on the same account. Our review notes that demo execution rarely reflects live execution in volatile markets, so treat strong demo results with care before you fund a live account.
10. Vantage
Demo platforms
MT4, MT5, TradingView, web and app
Virtual balance
Not stated
Demo length
Not stated
Live min. deposit
US$200
Why Vantage Ranks Tenth
Vantage rounds out the list in tenth with a rating of 71. Its free demo account comes with virtual funds and runs on MT4, MT5, TradingView, and the broker's own web platform and app. The live minimum deposit is US$200. Our review does not record a virtual balance or expiry for this broker. If you want to practise on a broker's own mobile app as well as the standard platforms, this demo covers both.
What Is A Forex Demo Account?
A forex demo account is a practice account funded with virtual money on a broker’s live platform, so you can learn how the platform works and test a strategy without risking your own funds. You trade the same markets and the same instruments you would trade live, but every position is opened with the broker’s virtual balance rather than your capital. That makes it the safest place to learn order entry, charting and risk sizing before you deposit anything.
Demo Account Or Live Account: What Changes?
The core difference is execution. A demo fill is simulated, and our Fintrix Markets review notes that demo execution rarely reflects live execution in volatile markets, so a strategy that fills cleanly in a demo may fill differently live. Expiry matters too. Pepperstone’s MT4 and MT5 demos last 60 days, IC Markets expires a demo after 30 days of inactivity, and Eightcap starts at 30 days unless you ask for an extension or a permanent demo. When you are ready to go live, the minimum deposit is none at Pepperstone, OANDA, Fusion Markets, BlackBull Markets and Fintrix Markets, US$100 at FP Markets and Eightcap, and US$200 at IC Markets, Exness and Vantage.
Are Forex Demo Accounts Free?
Yes, every demo account on this page is free. There is no charge to open one at any of the ten brokers, and the platforms themselves cost nothing to download: MT4, MT5 and cTrader are all free. Eightcap’s sign-up asks for your email, address and trading intentions, and no payment details, so you can practise from registration to expiry without spending anything. The only money involved is the virtual balance the broker gives you.
How To Choose A Forex Demo Account
I recommend you match the demo to the platform and account pricing you actually plan to trade live, because a demo only transfers if it rehearses the real thing. Pepperstone lets you pick Standard or Razor pricing on the demo, so you can practise on the account type you intend to fund, and Fusion Markets mirrors its live accounts and platforms. Our trading platforms guide covers what each platform does, and if MT4 is where you will land, our MT4 brokers page lists who supports it. Check expiry before you commit, since a demo that lapses mid-strategy will interrupt your testing. Where the broker lets you adjust the virtual balance, as Eightcap does, set it close to what you plan to deposit, because sizing decisions made on US$50,000 of virtual cash can mislead you if your real account starts much smaller.
How We Rank Brokers On This Page
We rank these ten brokers by our published rating out of 100, highest first, among the brokers whose review on this site documents their demo account. In my view that is the right rule, because a demo account is only as useful as the live account you move to, and the rating reflects costs, platforms, trust, service and more. A broker enters the list only when our own review records what its demo offers. Tickmill and StoneX Trading both offer demo accounts, but their reviews do not record the terms, so neither is ranked here.
Demo Accounts By Country
If you trade in Canada, Singapore or Malaysia, our country pages list demo accounts from brokers licensed where you live.
FAQs
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About the author
Justin Grossbard is the Co-Founder and CEO of CompareForexBrokers, which he established with Noam Korbl in 2014. He has over 20 years of professional experience in online marketing and holds a Master's in Marketing from Monash University.
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