10 Best Trading Demo Accounts (Unlimited & Free)

Trading with a demo account lets you experience real market conditions without any financial risk, which is helpful when learning or testing strategies. To help you find the right demo account, we’ve compiled a list of the top 10 brokers offering unlimited and free demo accounts.

These are the Top 10 Demo Accounts and their key benefits:

What Are the Best Demo Accounts for Trading?

Choosing the right demo account depends on your trading preferences and what you want to achieve during your practice. We briefly review each broker and key details to help you make the best decision.

1. BlackBull Markets

BlackBull Markets takes the top spot at WR Trading for its exceptional demo trading platform, offering access to an impressive range of over 26,000 tradable assets. This demo account is ideal for traders who want to experiment across various markets, from forex and stocks to commodities and cryptocurrencies. Also, you’ll gain access to popular platforms like MetaTrader 4, MetaTrader 5, MetaTrader Web Trader, cTrader, TradingView, and BlackBull Trade.

BlackBull Markets closely replicates conditions of a live trading account with spreads starting from 0.0 pips and leverage up to 500:1. The unlimited demo allows you to practice for as long as you need without any restrictions. Furthermore, BlackBull offers top-tier educational resources, such as webinars and tutorials, helping traders sharpen their skills in a risk-free environment. 

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$100,000
Spreads and Commission	Varies based on account:Spread – from 0.0 pips Commission – From no commission to $6 per lot
Trading Platforms	MetaTrader 4, MetaTrader 5, MetaTrader Web Trader, cTrader, TradingView, and BlackBull Trade.
Asset Types	Forex, commodities, indices, cryptocurrencies, futures, and stock.
Tradable Assets	Over 26,000
Currency Pairs	Over 70
Leverage	500:1
Customer Support	Email, live chat, and phone support.
Educational Content	Webinars, tutorials, education hub,
Regulation	Financial Services Authority in Seychelles

2. Vantage Markets

Vantage Markets is second on our list at WR Trading thanks to its easy-to-use platforms and excellent educational resources. Vantage offers $100,000 demo funds to trade and access its proprietary Vantage App, MetaTrader 4, MetaTrader 5, TradingView, and ProTrader. This allows users to risk-free test strategies and familiarise themselves with different trading platforms. 

The realistic trading conditions provided in the demo make Vantage a clear winner. Traders can explore over 1,000 assets across forex, stocks, bonds, indices, cryptocurrency, commodities, and ETFs, with competitive spreads starting from 0.0 pips and leverage up to 500:1. The demo account remains unlimited, giving traders the freedom to practice without rushing to transition to a live account. We believe Vantage is an excellent option for those who want to learn as they trade, as they offer ebooks, courses, and informative webinars. 

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$100,000
Spreads and Commission	Varies based on account:Spread – from 0.0 pips Commission – From $3 per lot
Trading Platforms	Vantage App, MetaTrader 4, MetaTrader 5, TradingView, and ProTrader.
Asset Types	Forex, stocks, indices, commodities, bonds, and ETFs.
Tradable Assets	Over 1,000
Currency Pairs	Over 40
Leverage	500:1
Customer Support	Email, live chat, and phone support.
Educational Content	Courses, webinars, and ebooks.
Regulation	ASIC and CIMA

3. RoboForex

RoboForex makes a strong impression with its multiple demo account options that fit different trading styles, earning the third spot at WR Trading. The standout feature here is its incredible leverage of up to 2000:1, making it an excellent playground for traders wanting to simulate high-leverage strategies. The demo accounts offer access to real-time market conditions that closely mimic live trading, like accurate pricing and spreads from 0.0 pips.

Traders can switch between MetaTrader 4, MetaTrader 5, and R Stocks Trader, providing plenty of flexibility in trying different tools. While RoboForex doesn’t emphasise educational resources, the variety of its 12,000 tradable assets across stocks, indices, futures, ETFs, commodities, and forex makes up for it. Also, you’ll gain access to trading tools like the trading calculator and economic calendar to test your strategies against upcoming market conditions.

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$50,000
Spreads and Commission	Varies based on account:Spread – from 0.0 pips Commission – from 10/ mio
Trading Platforms	MetaTrader 4, MetaTrader 5, and R Stocks Trader.
Asset Types	Stocks, indices, futures, ETFs, commodities, and forex.
Tradable Assets	Over 12,000
Currency Pairs	Over 40
Leverage	2000:1
Customer Support	Email, live chat, and phone support.
Educational Content	None
Regulation	Financial Services Commission (FSC) of Belize

4. Moneta Markets

Moneta Markets offers a demo account that combines ease of use with powerful trading tools, making it a solid option for traders at any level. The broker’s focus on education is excellent, with plenty of blogs, guides, and market analysis that demo account holders can access. This makes it a fantastic platform for learning and testing strategies in tandem, especially when you have over 1,000 assets to trade with.

One of Moneta Markets’ key strengths is its flexibility, with access to MetaTrader 4, MetaTrader 5, MT4 WebTrader, and ProTrader. The demo account is unlimited, so there’s no rush to transition to live trading, and you get access to $100,000 in virtual funds. The leverage increases to 1000:1, and tight spreads start from 0.0 pips. Moneta Markets replicates the live market environment well, offering a risk-free yet highly realistic space to practice.

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$100,000
Spreads and Commission	Varies based on account:Spread – from 0.0 pips Commission – from no commission to $3 per lot
Trading Platforms	MetaTrader 4, MetaTrader 5, Pro Trader, and MT4 WebTrader.
Asset Types	Forex, commodities, indices, ETFs, bonds, and stocks.
Tradable Assets	Over 1,000
Currency Pairs	Over 45
Leverage	1000:1
Customer Support	Email, live chat, and phone support.
Educational Content	Blogs and guides.
Regulation	Cayman Islands Monetary Authority and Financial Sector Conduct Authority.

5. FP Markets

FP Markets is perfect for traders seeking institutional-grade trading conditions in a demo environment. Known for its razor-thin spreads starting from 0.0 pips and execution speed going under 50 ms, FP Markets’ demo account closely mirrors live trading, allowing users to practice in an authentic setting. The broker supports MetaTrader 4, MetaTrader 5, cTrader, TradingView, IRESS, and WebTrader, giving traders various platforms. Plus, FP Markets offers tutorials to help beginners use the trading platforms.

Furthermore, with over 10,000 tradable assets, including forex, stocks, indices, cryptocurrencies, ETFs, and commodities, FP Markets offers an unparalleled range of instruments to explore in its demo account. The leverage of up to 500:1 further enhances the realism, making it an ideal choice for traders wanting to test high-stakes strategies. 

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$100,000
Spreads and Commission	Varies based on account:Spread – from 0.0 pips Commission – From no commission to $3 per lot
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView, IRESS, and WebTrader.
Asset Types	Forex, stocks, indices, commodities, cryptocurrency, and ETFs.
Currency Pairs	Over 60
Tradable Assets	Over 10,000
Leverage	500:1
Customer Support	Email, live chat, and phone support.
Educational Content	Video tutorials and trading glossary.
Regulation	ASIC, FSCA, FSA, FSC, and CySEC.

6. Pepperstone

Pepperstone has built a strong reputation for delivering high-speed execution of 30 ms and low spreads starting from 0.0 pips, which are seamlessly integrated into its demo account. Traders have access to leverage up to 500:1, real market conditions, and over 1,200 tradable assets, providing a highly realistic trading environment. The demo account offers access to all of Pepperstone’s key platforms, including MetaTrader 4, MetaTrader 5, cTrader, and TradingView. These platforms come with built-in indicators and charting tools like you’d find with a real money account.

Moreover, Pepperstone allows traders to practice for as long as needed with $50,000 in virtual funds. The platform is also rich in educational resources, offering webinars, tutorials, and detailed guides to support your learning journey. You can also incorporate the market analysis page into your strategy, as it covers economic events with expert commentary. 

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$50,000
Spreads and Commission	Varies based on account:Spread – from 0.0 pips Commission – From no commission to $3 per lot
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, and TradingView
Asset Types	Forex, commodities, indices, cryptocurrency, stocks, and ETFs.
Tradable Assets	Over 1,200
Currency Pairs	Over 90
Leverage	500:1
Customer Support	Email and phone support.
Educational Content	Webinars, educational videos, and trading guides.
Regulation	FCA, CySEC, ASIC, BaFin, CMA, and DFSA.

7. IC Trading

IC Trading is known for offering one of the market’s most realistic demo trading environments. This broker replicates its ECN-like conditions in the demo account, giving traders access to raw spreads starting from 0.0 pips and lightning-fast execution speeds under 40 ms. Up to 500:1 leverage is provided on forex with no commission once you transition to a live account.

The demo account is available on MetaTrader 4, MetaTrader 5, and cTrader, ensuring traders can test strategies on their preferred platforms. Over 2,250 tradable assets are available, including forex, commodities, indices, stocks, bonds, and cryptocurrency, giving you a wide range of instruments to explore. The unlimited demo allows you to practice until you’re fully confident, making it a solid choice for serious traders.

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$5,000,000
Spreads and Commission	Varies based on account:Spread – from 0.0 pips Commission – From no commission to $3.50 per lot
Trading Platforms	MetaTrader 4, MetaTrader 5, and cTrader.
Asset Types	Forex, commodities, indices, stocks, bonds, and cryptocurrency.
Tradable Assets	Over 2,250
Currency Pairs	Over 60
Leverage	500:1
Customer Support	Email, live chat, and phone support.
Educational Content	Tutorials and blogs
Regulation	Financial Services Commission of Mauritius

8. XM

XM offers a well-rounded demo trading experience that appeals to traders who value education and high-leverage strategies. With access to over 1,000 tradable assets across forex, stocks, indices, and commodities, XM provides a comprehensive range of instruments to practice with on MetaTrader 4, MetaTrader WebTrader, and MetaTrader 5. XM’s in-depth educational resources, including webinars, tutorials, and platform guides, are available to demo account holders. They are the perfect place to start if you’re learning the trading basics.

The demo account gives traders time to practice and refine strategies. Spreads start from 0.0 pips, and leverage goes up to 1000:1, providing a risk-free environment for testing different trading techniques. We also tested the customer support and found it helpful, so if you encounter any issues understanding a feature or finding the right assets, they are more than willing to help.

Feature	Information
Varies based on account: Sprea d – from 0.0 pips Commission – From no commission to $3.50 per lot	Yes
Demo Funds Available	$100,000
Spreads and Commission	Varies based on account: Spread – from 0.0 pips Commission – From no commission to $3.50 per lot
Trading Platforms	MetaTrader 4, MetaTrader 5, and MetaTrader WebTrader.
Asset Types	Forex, stocks, indices, and commodities.
Tradable Assets	Over 1,000
Currency Pairs	Over 55
Leverage	1000:1
Customer Support	Email, live chat, and phone support.
Educational Content	Educational videos, webinars, platform tutorials, and XM Live.
Regulation	ASIC, CySEC, DFSA, FCA, FSCA, and FSC.

9. FBS

FBS stands out with its incredibly high leverage, offering up to 3000:1, making it a top choice for traders looking to experiment with high-risk, high-reward strategies. The demo account offers access to forex, stocks, indices, and commodities on popular trading platforms – FBS App, MetaTrader 4, and MetaTrader 5. All come with the standard indicators and trading tools you’ll find on a regular account. 

The demo account allows traders to test strategies without pressure to transition to live trading quickly. FBS also offers a wealth of educational resources through FBS Academy, making it a fantastic platform for improving trading skills while practising risk-free trading. You can trade over 100 assets, including over 40 currency pairs, with spreads from 0.7 pips.

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$1,000,000
Spreads and Commission	Varies based on account:Spread – from 0.7 pips Commission – From no commission to $3.50 per lot
Trading Platforms	FBS app, MetaTrader 4, and MetaTrader 5.
Asset Types	Forex, stocks, indices, and commodities.
Tradable Assets	Over 100
Currency Pairs	Over 40
Leverage	3000:1
Customer Support	Email, live chat, and phone support.
Educational Content	FBS Academy
Regulation	CySEC

10. VT Markets

VT Markets provides a great demo trading environment with access to MetaTrader 4 and MetaTrader 5, two of the most powerful platforms in the industry. You can also trade with the VT Markets app and WebTrader. The broker offers a wide range of tradable assets, including forex, stocks, indices, ETFs, bonds, and commodities, making it ideal for traders testing multiple markets without financial risk. 

The demo account is unlimited and mirrors real market conditions, with spreads starting from 0.0 pips and leverage up to 500:1. Besides its robust trading features, VT Markets offers a comprehensive educational hub through VT Markets Academy, allowing traders to refine their knowledge while they practice. Flexibility, academic support, and advanced trading tools make VT Markets a great trading choice.

Feature	Information
Offers a Demo Account for Traders?	Yes
Demo Funds Available	$5,000,000
Spreads and Commission	Email, help centre, live chat.
Trading Platforms	Email, help centre live chat.
Asset Types	Forex, stocks, indices, ETFs, bonds, and commodities.
Tradable Assets	Over CFDs 1,000
Currency Pairs	Over 40
Leverage	500:1
Customer Support	MetaTrader 4, MetaTrader 5, WebTrader, and the VT Markets app.
Educational Content	VT Markets Academy
Regulation	ASIC, FSCA, and Mauritius FSC

What Is a Trading Demo Account?

A trading demo account is a virtual trading environment that mimics real market conditions. It allows users to practice trading without risking any real money. The account provides access to real-time price movements, charts, and trading platforms, allowing traders to execute simulated trades as they would in a live market.

Demo accounts are designed to help beginners and experienced traders. Beginners can learn the mechanics of trading, familiarise themselves with various trading platforms, and test different strategies. For professional traders, demo accounts offer a space to refine complex strategies on new asset classes without financial pressure. They are invaluable for gaining confidence and improving trading skills before transitioning to live trading.

How Can I Open a Free Demo Account For Trading?

Brokers make the process of accessing a demo account straightforward. Here’s a step-by-step guide to help you get started:

• Choose a Broker: Select a demo trading broker offering an unlimited and free demo account. Look for platforms that provide the asset classes, tools, and leverage that match your trading style.
• Sign Up: Visit the broker’s website or download their app. Fill in a simple registration form with basic details like your name, email address, and phone number. Some brokers may ask for a few extra details, but demo account sign-up usually doesn’t require too much information.
• Select the Demo Option: Most brokers allow you to choose between a live and paper trading account once registered. Select the demo account option.
• Access the Trading Platform: After setting up your demo account, you’ll get access to the trading platform. Brokers usually offer platforms like MetaTrader 4, MetaTrader 5, or their proprietary software. You can practice trading in real-time with virtual funds provided by the broker.
• Start Trading: You can place simulated trades in the demo environment once the platform is ready. This allows you to explore the platform, practice trading strategies, and get comfortable with the tools before committing any money.

When should we transition from demo trading to live trading?

Ideally, you should switch once you’ve consistently demonstrated positive performance in your demo account for an extended period, 1 to 3 months. During this time, aim to execute a significant number of trades (at least 100-500), as this provides a clearer picture of your strategy’s success over various market conditions.

Key indicators that you’re ready to transition include consistent profitability, emotional control while trading, and a thorough understanding of risk management. If your demo results reflect stability and discipline, it’s a good sign you’re prepared to move into live trading. However, although mechanics are the same, live trading introduces psychological challenges like the fear of losing real money, so manage expectations as you begin.

Pros and Cons of Demo Trading Accounts:

Are There Trading Demo Accounts Without Sign-Up?

A few trading brokers allow traders to use demo accounts without a signup process. These platforms offer instant access to demo trading environments, allowing users to test the features without sharing personal information or going through a lengthy registration process.

Pocket Option is a notable example. Its homepage offers access to demo trading, allowing you to practice trading immediately. Brokers like this are helpful if you want to explore platform features quickly or test strategies without commitment.

On WR Trading, you can use our free trading demo simulator where you do not need to sign up, just click the staring button in the upper section to get started with a virtual balance of $10,000. You can try out trading with the free simulated demo account of WR Trading.

Which Markets Are Available in a Trading Demo Account?

The markets available in a trading demo account largely depend on the broker, but most brokers offer access to the following asset classes:

• Forex: The most popular market in demo accounts, allowing traders to practice with major, minor, and exotic currency pairs.
• Stocks: Many brokers offer access to global stock markets, allowing you to trade shares of major companies.
• Indices: Demo accounts often include primary indices like the S&P 500, FTSE 100, and DAX, allowing you to speculate on broader market movements.
• Commodities: Commonly traded commodities like gold, silver, oil, and agricultural products are often available in demo environments.
• Cryptocurrencies: Some brokers allow demo trading in popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

Which Trading Platforms and Software Are Available for Demo Trading?

Demo trading accounts offer access to various powerful platforms with unique features. Below are some of the most popular platforms used by brokers for demo trading:

MetaTrader 4 (MT4)

MetaTrader 4 (MT4) is one of the most popular trading platforms globally, especially for forex traders. Known for its user-friendly interface, MT4 offers a set of charting tools, technical indicators, and the ability to automate trading strategies. Traders can perform in-depth technical analysis with customizable charts and access historical data to backtest strategies. MT4’s simple order management system makes it perfect for beginners, while its advanced tools suit professional traders.

MetaTrader 5 (MT5)

MetaTrader 5 (MT5) is the more advanced successor to MT4. While it retains many features of MT4, it introduces several enhancements, including more asset classes like stocks, commodities, and futures, making it ideal for multi-asset traders. Compared to MT4, T5 provides improved order execution, more timeframes, and a broader selection of indicators. It also supports netting and hedging options, making it more versatile for traders using different strategies.

In demo trading, MT5 allows you to explore more markets, test trading algorithms with its built-in strategy tester, and use its advanced Depth of Market (DOM) feature to understand market liquidity better. Many traders transition to MT5 as they move into multi-asset portfolios, and demo accounts give you a risk-free way to explore its advanced features.

TradingView

TradingView is a browser-based platform known for its sleek, modern interface and robust charting tools. It’s favoured by traders who prefer a web-based platform without needing all the information. TradingView allows you to create highly customizable charts, use hundreds of indicators, and access community-driven trade ideas and strategies. TradingView provides access to real-time market data and social trading features, allowing traders to collaborate, share insights, and learn from others in the community.

cTrader

cTrader is known for its easy-to-use design and fast trade execution, making it highly popular among forex and CFD traders. Unlike MetaTrader, cTrader has a cleaner, more modern interface with straightforward navigation. It offers advanced charting, one-click trading, and built-in algorithmic trading tools through cAlgo.

Proprietary Platforms

Many brokers offer proprietary trading platforms tailored to their specific services. These platforms are designed with the broker’s trading environment in mind, offering unique features such as integrated research tools, in-house indicators, or enhanced support for particular asset classes.

Proprietary platforms can vary significantly between brokers, but they often offer a more seamless user experience with the broker’s features, like account management, customer support, or personalised trading dashboards. Using a demo account on these platforms lets traders get accustomed to the broker’s interface and unique tools, helping them determine if the platform meets their needs.

Can You Demo Trade via Applications?

Yes, many brokers offer demo trading via mobile apps. These apps allow you to practice trading from anywhere with full access to real-time data, charts, and order placement tools. Brokers like BlackBull Markets, Vantage Markets, RoboForex, Moneta Markets, and FP Markets all provide mobile apps that support demo accounts. These apps mirror the functionality of their desktop platforms, giving traders the flexibility to test strategies, monitor markets, and place trades directly from their smartphones or tablets.

Conclusion

Demo trading accounts are invaluable tools for traders of all levels. They offer a risk-free way to practice strategies, explore markets, and get comfortable with trading platforms. At WR Trading, we’ve covered some of the best platforms for demo trading, such as BlackBull Markets, Pepperstone, FBS, and more. Since demo accounts are free, consider testing multiple brokers to find the perfect match for your trading needs.

Frequently Asked Questions on Demo Account for Trading: