5 Best CFD Trading Demo Accounts (Unlimited & Free)

A CFD demo account lets you trade contracts for differences on various markets like forex, commodities, indices, stocks, and cryptos with virtual funds in real-time market conditions. It simulates real-time market conditions, enabling risk-free trading in a realistic environment. Ideal for beginners and experienced traders alike, it offers a safe space to test strategies and understand the mechanics of CFD trading before depositing actual funds.

We tested and reviewed several top CFD practice accounts to help you find the most realistic and user-friendly experiences. After hands-on evaluation, we’ve narrowed it to 5 standout CFD trading demo accounts. In this article, we’ll give the specifications for each one, explain what makes them worth trying, and share tips on how to get the most out of your demo trading journey.

 Here is the list of the best CFD Trading Demo Accounts in the table below:

Detailed Comparison Of The Best 5 CFD Trading Demo Accounts:

Let’s now look at the five best CFD trading demo accounts with a list of key features and a brief overview. 

1. BlackBull Markets

Feature	Information
Year established	2014
Regulators	FMA (New Zealand), FSA (Seychelles),
Supported Platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView
Maximum Leverage	1:500
Maximum Demo Account Balance	N/A
Maximum Number of Demo Accounts Allowed	5
Available Markets	Forex, stocks, commodities, futures, indices, crypto
Available CFD Demo Accounts	Standard, Prime, swap-free
Base Currencies Supported	USD, EUR, GBP, AUD, NZD, CAD, SGD
Available Customer Support Channels	Email, phone, live chat

BlackBull Markets is a CFD brokerage from New Zealand that tops our list of brokers with the best CFD trading demo accounts. It offers over 26,000 markets across popular asset classes, from forex to stocks. You can trade demo across four platforms with BlackBull: MT4, MT5, cTrader, and TradingView.

Our testing showed that your CFD demo account size is unlimited, and you can add to it anytime. 

We confirmed with the broker’s customer support that you can open up to five demo accounts and reset the balance by contacting them. They also stated that no limit exists on the maximum account balance. 

Another advantage of BlackBull Markets’ demo account is you can open it with seven different base currencies.

Finally, unlike most brokers, you can experience BlackBull Markets’ swap-free account during the demo stage.

All these benefits make BlackBull Markets the best overall in our comparison guide.

2. Vantage Markets

Feature	Information
Year established	2009
Regulators	FASIC (Australia), VFSC (Vanuatu), FSCA (South Africa)
Supported Platforms	MetaTrader 4, MetaTrader 5
Maximum Leverage	1:500
Maximum Demo Account Balance	$1,000,000
Maximum Number of Demo Accounts Allowed	N/A
Available Markets	Forex, indices, commodities, stocks, ETFs, bonds, crypto
Available CFD Demo Accounts	Standard, Raw/ECN, Perpetual
Base Currencies Supported	USD, EUR, GBP, JPY, AUD, NZD, CAD, SGD, HKD
Available Customer Support Channels	Email, phone, live chat

Vantage Markets is a Vanuatu-based derivatives broker which is a close second in our review. While you can trade on four platforms through Vantage Markets during the live stage, only MT4 and MT5 are available for demo accounts.

However, we were impressed with the speed at which a demo account was opened where minimal information was required.

Another distinct feature of Vantage Markets is that you can reset your demo account balance yourself. Meanwhile, this is not available with many brokers. Usually, you can add to your equity, purposefully lose traders to drop the balance, or create a new demo account. And even when you can reset the balance, you have to contact customer support.

In addition to the other perks mentioned, Vantage Markets beats the competition here with a demo account that offers the most flexible settings.

3. FP Markets

Feature	Information
Year established	2005
Regulators	ASIC (Australia), CySEC (Cyprus), FSCA (South Africa), FSA (Seychelles), FSC (Mauritius)
Supported Platforms	MetaTrader 4, MetaTrader 5
Maximum Leverage	1:500
Maximum Demo Account Balance	N/A
Maximum Number of Demo Accounts Allowed	10
Available Markets	Forex, stocks, metals, commodities, indices, crypto, bonds, ETFs
Available CFD Demo Accounts	Standard, Raw
Base Currencies Supported	USD, EUR, GBP, JPY, AUD, NZD, CAD, CHF, BRL, MXN, ZAR, PLN, HKD, SGD
Available Customer Support Channels	Email, phone, live chat

First Prudential Markets (or FP Markets) is an Australian multi-regulated CFD broker. Like Vantage, you can trade on the MetaTrader, cTrader, and TradingView platforms on FP Markets.

Another advantage of FP is that you can open your CFD demo account on 14 base currencies, which offers convenience to many traders globally.

What stood out the most when comparing FP Markets to the other brokers was its broad market selection, which comprises eight distinct asset classes. 

4. RoboForex

Feature	Information
Year established	2009
Regulators	FSC (Belize)
Supported Platforms	MetaTrader 4, MetaTrader 5
Maximum Leverage	1:2000
Maximum Demo Account Balance	N/A
Maximum Number of Demo Accounts Allowed	50
Available Markets	Forex, commodities, metals, ETFs, futures, indices, stocks
Available CFD Demo Accounts	ECN, Pro, R StocksTrader
Base Currencies Supported	USD
Available Customer Support Channels	Email, phone, live chat, Telegram, WhatsApp, Messenger

RoboForex is a Belizean derivatives broker established in 2009. It offers a CFD trading demo account in two MetaTrader-based accounts (ECN and Pro) and its proprietary R StocksTrader platform.

The most distinct aspect of RoboForex is the maximum leverage, which goes up to 1:2000. This perfectly suits high-risk traders with smaller capital. While riskier, RoboForex’s demo account is a safe avenue for these individuals to test their ideas and strategies.

Other perks of RoboForex include the ability to open a large number of demo accounts and no maximum account balance. Lastly, traders should also consider the broker’s $30 welcome bonus once they wish to transition from the CFD demo account.

All in all, while RoboForex is stripped-down in demo features, it stands out for high leverage.

5. Pepperstone

Feature	Information
Year established	2010
Regulators	FCA (UK), ASIC (Australia), CySEC (Cyprus), CMA (Kenya), BaFin (Germany), SCB (Bahamas)
Supported Platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView
Maximum Leverage	1:500
Maximum Demo Account Balance	$50,000 (or currency equivalent)
Maximum Number of Demo Accounts Allowed	5-10
Available Markets	Forex, commodities, indices, stocks, ETFs, crypto
Available CFD Demo Accounts	Standard, Razor (zero spread)
Base Currencies Supported	USD, GBP
Available Customer Support Channels	Email, phone, live chat

Pepperstone is an Australian multi-regulated broker that offers several attractive benefits for demo trading. Live account holders can open up to 10 demo accounts (non-live account holders can open a maximum of five demo accounts).

With most of their trading platforms, you can test the conditions of Pepperstone’s standard and special zero spread accounts on the demo.

Pepperstone is among the few brokers supported on the state-of-the-art TradingView. cTrader is another advanced software that allows you to trade using a Pepperstone account. One perk of using these platforms is that their CFD demo accounts don’t expire, while those on MT4 and MT5 expire after 60 days.

Overall, Pepperstone is another excellent option for a demo account, particularly if you want to trade on cTrader or TradingView.

What is A CFD Trading Demo Account?

A demo account within CFD trading is an account with virtual funds designed to simulate real-time, live trading conditions. They are necessary for all traders, particularly those new to the world of derivatives.

Due to the speculative nature of CFD trading, it is risky to trade with real money from the onset. Generally, there are three reasons to use a demo account:

• You need to test the waters as a beginner in preparation for live trading. 
• You wish to experiment with a broker’s charting software and overall trading conditions based on what would be the real account.
• You have some experience and must refine various trading strategies or ‘robots.’

How We Chose The Best CFD Demo Accounts:

Let’s look at the various factors that went into our decision-making:

• Regulation
• Ease of Use
• Educational Support And Resources
• Amount of Virtual Funds
• Duration of The Demo Account

Regulation

We only considered regulated brokers in our research of the best CFD demo accounts. Firstly, you can be assured that the highest quality of service on the demo will most probably translate onto the live stage.

However, more importantly, regulated brokers have an excellent reputation for providing fair live trading conditions and honouring withdrawal requests.

Ease of Use

Most brokers offer demo accounts on MetaTrader 4 or MetaTrader 5. These are the most user-friendly trading platforms, which is particularly useful for newbies. The user interface is simpler to navigate while offering all the competitive charting tools.

The ease of use also plays into the accessibility of the demo account on multiple devices, namely desk/laptops, smartphones and tablets. This allows traders to practice anytime, anywhere.

Educational Support And Resources

So, let’s say you have signed up for a demo account. Who is going to teach you? Educational support from a broker is critical, especially for beginners. The trading platforms we chose each have a comprehensive suite of resources like blogs, e-books, tutorials, videos, podcasts, and webinars.

Let’s not forget analytical tools, which should include an economic calendar, trading calculators, and fundamental analysis, among others.

Amount of Virtual Funds

Traders want to experiment without limits in account balance with their demo accounts. This is necessary because you may like to test many strategies (which require you to open multiple positions). 

Or, you may have $10,000 to use in a live account and wish to gain a sense of what that amount feels like. Our selection process focused on brokers with no maximum account balance, such as BlackBull and FP Markets.

Still, keep in mind that you should simulate an account size that is close to what you would realistically fund during the live stage. It may be great to trade with a $100,000 demo account. However, very few people could have this much for a live trading account – in fact, it’s not something we recommend at WR Trading.

Duration of The Demo Account

Unfortunately, demo accounts on the MetaTrader software expire after 30-60 days. In our review, we prioritized the brokers connected to platforms like cTrader and TradingView where there is no expiry on their demo accounts. 

This is beneficial as it means traders can practice for as long as possible without feeling any pressure of potentially switching to a live account. Also, we considered brokers that allowed users to open as many demo accounts as possible.

This is a huge advantage if you are on MT4 or MT5 (whose accounts naturally expire). Although it means you would lose having a consistent track record, you can simply open a new account when your current one expires.

Steps to Practice CFD Trading:

1. Learn what CFD trading is: A CFD or contract for difference describes the buying and selling of derivatives in many financial markets. It’s an arrangement where the broker settles the difference (in profits or loss) between the open and closing trades.

You can get CFDs in assets like forex, cryptocurrencies, stocks, indices, futures, metals, commodities and bonds.

2. Choose a trading strategy and style: There are countless CFD trading strategies to learn, ranging from momentum and breakouts to trend and news trading. 

On the other hand, you can choose to be a scalper, day trader, swing trader, or any other type of trader. The scope is wide – it boils down to risk tolerance, personal preference, skill level, and many other factors.

3. Open a demo account: The next step is to sign up for a demo account with a CFD broker, including any of those we mentioned. 

4. Start practicing: Now comes the hard work – practicing! Firstly, remember that there is no right or wrong amount of time you should spend. However, we suggest at least one year of daily practice.  

Still, there is another process (more on this later) for slowly transitioning to a live account. Thus, being excellent on a demo account gives little indication of your success on the live stage. Still, it’s a step in the right direction.

What are the Pros And Cons of CFD Demo Trading?

Let’s look at the benefits and drawbacks of demo trading on CFDs.

Pros

The greatest benefit of a demo account is that no real money is involved. This means that you can practice for an unlimited time without financial risk. Demo accounts prevent the costly mistakes that inexperienced traders face on a live account.

Demo accounts allow you to test your trading strategies and knowledge in a risk-free environment. In preparation for live trading, these accounts permit the trader to fine-tune and build the trading system possible.

The demo phase is also crucial for gathering various performance metrics.The demo stage is an essential time to familiarize yourself with the trading platform and ensure you can navigate it efficiently from analysis to execution.

Cons

Any profits made with demo trading won’t translate to real profits you can withdraw (something which is possible on a live account).

There is a huge psychological difference between a demo and a live account. Demo traders can easily act casually in the demo stage, as no real funds are on the line. Such a mentality may translate to the live phase, where there is the serious consequence of losing actual money.

While demo accounts mimic the price movements of the live markets, there will be slight variables in spreads and other volatility-related issues like slippage. Thus, it is not a 100% exact simulation. 

Lastly, demo accounts can give you a false sense of your trading capital (something we touched upon previously). Thus, it’s easy for traders to take unnecessarily large positions on a live account due to their demo trading experience.

How to Transit from CFD Demo Trading to Live Trading?

The journey of most new traders from demo to live trading is often rocky. It’s common for someone to be profitable on a demo account only to perform poorly on a live account. So, how do you ensure a smooth transition?

• Use disposable funds: They say only trade or invest money you can afford to lose. It may be a clichéd statement, but it’s true. Due to the allure of CFD trading, new traders get easily desperate and often risk money they need for life expenses.

The foundation of the switch begins with a trader using disposable money. This removes any emotional attachment, leading to better decision-making.

• Have a solid trading plan: You should have built your trading plan on the demo account. Traders who are ready to trade live will know this plan inside out, mastering everything from the strategy to their daily routine.

• Acknowledge the psychological shift: Traders should always know that losses on a live account are binding, contrasting a demo account where these are on paper. With this realisation, making the best trading decisions based on your trading plan is crucial. Thus, it’s a huge shift that requires calm psychology and a neutral mindset.

• Use a cent account: Some traders prefer to invest a few hundred dollars in a live cent account (available with Vantage Markets, FP Markets, and RoboForex) to test the waters during the demo stage. 

This is because this account allows one to trade a tenth of a micro lot, which is a much smaller position. Thus, it is unlikely to lose a substantial amount of funds.

• Start small: Let us say you are confident about your trading skills and perhaps lucky to have a huge disposable income. Even so, it’s better to trade small. In other words, only risk a portion and slowly invest more over time once you begin making real money. The transition should be a marathon, not a sprint.

Are There CFD Demo Accounts Without Sign Up?

Yes, there are CFD trading demo accounts without sign up. On WR Trading, you can use the free trading simulator, which simulates a demo balance of $10,000 in CFD Trading. After thorough research, we saw that nearly all brokers need you to register for an account. Another alternative is Pocket Option for a free CFD demo account without signing up. However, its platform isn’t as user-friendly as MetaTrader. CFD providers like FP Markets and, worse, RoboForex have long sign-up processes that aren’t user-friendly.

Conclusion

We can think of demo accounts as training needed for a sportsperson with the live accounts being the sports field. It’s necessary for all traders to minimize the financial dangers that come with having no trading experience.

That’s why we created this guide with the best five CFD trading demo accounts. In summary:

• BlackBull Markets is our #1 choice. Their key benefits include multi platform support, a wide range of demo account types and an excellent variety of available markets.

• Vantage Markets offers the most flexible settings for demo account users. The broker had the fastest signup process during our testing and provides the highest base account currency support.

• FP Markets may appeal to traders seeking the most markets with one broker. Other perks include multi platform support and the ability to open up to 10 demo accounts.

• RoboForex stands out for offering the highest leverage. Traders can also benefit from being able to open up to 50 demo accounts with the broker.

• Last but not least, there is Pepperstone. This broker has excellent demo trading conditions where you can test their special zero spread account. Pepperstone shines for being supported on MT4, MT5, cTrader and TradingView.

Frequently Asked Questions on CFD Trading Demo Accounts: