Best CFD Demo Accounts
CFD demo accounts are a great way for UK investors to practise trading risk-free. Not just ideal for new or inexperienced investors, a paper trading profile can be the ideal place for traders to test a new strategy in a simulated environment. This guide will cover the pros and cons of using a CFD demo account, how they work and tips for getting started. We also list the best UK CFD demo accounts.
Top CFD Demo Accounts UK
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In our recent assessment, Pepperstone remains a top-tier CFD broker, renowned for its speed and reliability. With execution times averaging 30ms and a remarkable 99.90% fill rate, traders benefit from a smooth experience free from requotes and dealing desk disruptions. Additionally, it offers extensive opportunities with access to more than 1,300 assets.
In our recent tests, Pepperstone’s demo reflected live spreads—EUR/USD averaged 0.1–0.3 pips with Razor accounts. Execution proved swift, with little slippage and over 1,000 assets available. The interface precisely mimicked the real trading environment. No personal information was needed, offering a 30-day trial with up to $50,000 virtual funds.
FTSE Spread GBPUSD Spread Leverage 1.0 0.4 1:30 (Retail), 1:500 (Pro) Stocks Spread FCA Regulated Platforms 0.02 Yes MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower -
XTB provides an extensive choice of over 2,100 CFDs, covering forex, indices, commodities, stocks, ETFs, and cryptocurrencies, depending on location. In the EU and UK, leverage is capped at 1:30, while global clients and professional traders can benefit from leverage up to 1:500. Renowned for its trading resources and tutorials, XTB excels in helping traders devise effective short-term strategies.
In our assessments, XTB’s demo accurately replicated its live xStation 5 platform, featuring over 5,000 assets like forex, indices, commodities, stocks, and crypto. Execution was rapid through CEC liquidity, with EUR/USD spreads starting at approximately 0.6 pips and minimal slippage. Setup required only an email, provided a $100,000 virtual balance, and the demo had no expiration.
FTSE Spread GBPUSD Spread Leverage 1.8 1.4 1:30 Stocks Spread FCA Regulated Platforms 0.2% Yes xStation -
FXCC provides a modest selection of CFDs beside forex, including metals, energies, indices, and cryptos. Nevertheless, it distinguishes itself by offering high leverage of up to 1:500. This feature appeals to seasoned traders wishing to enhance their purchasing power while betting on market fluctuations.
In FXCC's demo mode, trading mirrored live ECN conditions with rapid order execution, minimal slippage, and accurate MT4 data. Standard spreads began at 1.2 pips for EUR/USD, with no hidden fees. Setup needed just an email and came with $50,000 virtual funds, and the demo was unlimited—perfect for thorough strategy testing.
FTSE Spread GBPUSD Spread Leverage Variable 1.0 1:500 Stocks Spread FCA Regulated Platforms NA No MT4, MT5 -
Trade over 2,250 CFDs anytime from Monday to Friday across key markets, including forex, commodities, indices, stocks, and bonds. IC Markets leverages deep liquidity and cutting-edge bridge technology to offer ideal trading conditions for scalpers, hedgers, and algorithmic traders.
In our thorough analysis, IC Markets' demo replicated live Raw and Standard account conditions with extremely narrow spreads—EUR/USD from 0.0–0.1 pips and a $3.50 fee per lot on Razor. Execution was exceptionally swift with minimal slippage. Through MT4/MT5/cTrader, more than 1,300 instruments were accessible. Setup needed just an email; $50K virtual balance, no expiration.
FTSE Spread GBPUSD Spread Leverage 1.0 0.23 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) Stocks Spread FCA Regulated Platforms 0.02 No MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower -
The platform provides access to over 8,000 CFDs across stocks, indices, forex, and commodities. Suited for experienced traders, the TWS platform includes more than 100 order types and algorithms. It also delivers top-tier market data from trusted sources like Reuters and Dow Jones.
Using Interactive Brokers' demo mirrored the live TWS platform, featuring global market access and advanced order types. Execution speed felt genuine, although fast-moving assets experienced slight slippage. Basic details were needed for setup. With a virtual balance of $1M, paper trading started post-account approval.
FTSE Spread GBPUSD Spread Leverage 0.005% (£1 Min) 0.08-0.20 bps x trade value 1:50 Stocks Spread FCA Regulated Platforms 0.003 Yes Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower -
IC Trading excels in CFD trading, offering more than 2,250 assets across popular markets such as forex, commodities, indices, stocks, and bonds. With advanced bridge technology and substantial liquidity, the broker ensures favourable conditions for traders seeking leveraged short-term opportunities.
In testing, IC Markets' demo replicated live ECN conditions, featuring rapid execution (0.02 ms) and narrow spreads - EUR/USD from 0.0–0.1 pips with a $3.50 commission per lot. Over 1,000 instruments were available through MT4/MT5/cTrader. Registration required just an email, offering a $50K virtual balance with no expiry. Perfect for new traders, scalpers, and algorithmic strategists.
FTSE Spread GBPUSD Spread Leverage 2.133 0.23 1:500 Stocks Spread FCA Regulated Platforms Variable No MT4, MT5, cTrader, AutoChartist, TradingCentral -
Eightcap provides an extensive selection of trading options with over 800 CFDs covering equities, indices, bonds, commodities, and digital currencies, subject to regional availability. Traders can access leverage ranging from 1:30 to 1:500. The platform is distinguished by its sophisticated tools, including an AI-powered economic calendar that tracks over 25 countries with filters for varying impact levels. Despite these strengths, Eightcap's selection of commodities, especially softs such as cotton and wheat, along with its range of precious metals and energy assets, remains limited and could benefit from further development.
In our tests, Eightcap's demo account matched actual trading conditions with live pricing and execution. Accessible via MT4, MT5, and TradingView, it offers over 1,000 instruments like forex, indices, commodities, stocks, and crypto. Setup merely required an email, offering a $5,000,000 virtual balance for 30 days, extendable on request. Perfect for both novice and experienced traders seeking realistic practice.
FTSE Spread GBPUSD Spread Leverage 1.2 0.1 1:30 Stocks Spread FCA Regulated Platforms 0.03 (Apple Inc) Yes MT4, MT5, TradingView
Pepperstone
XTB
FXCC
IC Markets
Interactive Brokers
IC Trading
EightcapSafety Comparison
Compare how safe the Best CFD Demo Accounts are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
| Pepperstone | ✔ | ✔ | ✘ | ✔ | |
| XTB | ✔ | ✔ | ✔ | ✔ | |
| FXCC | ✘ | ✔ | ✘ | ✔ | |
| IC Markets | ✘ | ✔ | ✘ | ✔ | |
| Interactive Brokers | ✔ | ✔ | ✘ | ✔ | |
| IC Trading | ✘ | ✘ | ✘ | ✔ | |
| Eightcap | ✔ | ✔ | ✘ | ✔ |
Payments Comparison
Compare which popular payment methods the Best CFD Demo Accounts support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
|---|---|---|---|---|---|---|
| Pepperstone | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| XTB | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| FXCC | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| IC Markets | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| Interactive Brokers | ✔ | ✔ | ✘ | ✘ | ✘ | ✘ |
| IC Trading | ✔ | ✔ | ✔ | ✔ | ✘ | ✘ |
| Eightcap | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
Mobile Trading Comparison
How good are the Best CFD Demo Accounts at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| Pepperstone | iOS & Android | ✘ | ||
| XTB | iOS & Android | ✔ | ||
| FXCC | iOS & Android | ✘ | ||
| IC Markets | iOS & Android | ✘ | ||
| Interactive Brokers | iOS & Android | ✔ | ||
| IC Trading | iOS & Android | ✘ | ||
| Eightcap | iOS & Android | ✘ |
Beginners Comparison
Are the Best CFD Demo Accounts good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
| Pepperstone | ✔ | $0 | 0.01 Lots | ||
| XTB | ✔ | $0 | 0.01 Lots | ||
| FXCC | ✔ | $0 | 0.01 Lots | ||
| IC Markets | ✔ | $200 | 0.01 Lots | ||
| Interactive Brokers | ✔ | $0 | $100 | ||
| IC Trading | ✔ | $200 | 0.01 Lots | ||
| Eightcap | ✔ | £100 | 0.01 Lots |
Advanced Trading Comparison
Do the Best CFD Demo Accounts offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| Pepperstone | Expert Advisors (EAs) on MetaTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✘ | ✔ | ✘ |
| XTB | Open API | ✔ | 1:30 | ✘ | ✘ | ✔ | ✘ |
| FXCC | Expert Advisors (EAs) on MetaTrader | ✘ | 1:500 | ✔ | ✘ | ✔ | ✘ |
| IC Markets | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | ✘ | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | ✔ | ✘ | ✔ | ✘ |
| Interactive Brokers | Capitalise.ai & TWS API | ✘ | 1:50 | ✘ | ✔ | ✔ | ✔ |
| IC Trading | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✘ | 1:500 | ✔ | ✘ | ✔ | ✘ |
| Eightcap | TradingView Bots | ✘ | 1:30 | ✔ | ✘ | ✔ | ✘ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Best CFD Demo Accounts.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| Pepperstone | |||||||||
| XTB | |||||||||
| FXCC | |||||||||
| IC Markets | |||||||||
| Interactive Brokers | |||||||||
| IC Trading | |||||||||
| Eightcap |
Our Take On Pepperstone
"Pepperstone is a premier trading platform, providing tight spreads, swift execution, and sophisticated charting tools for seasoned traders. Beginners benefit from no minimum deposit, comprehensive learning materials, and outstanding 24/7 support."
Tobias Robinson
Reviewer
Pros
- Over the years, Pepperstone has consistently garnered recognition from DayTrading.com’s annual awards. Recently, it was honoured as the 'Best Overall Broker' in 2025 and was the 'Best Forex Broker' runner-up the same year.
- Pepperstone presents itself as an economical choice for traders, offering spreads as low as 0.0 in its Razor account. The Active Trader programme provides rebates up to 30% on indices and commodities, plus $3 per lot on forex.
- Pepperstone now offers spread betting via TradingView, delivering a streamlined and tax-efficient trading experience with sophisticated analytical tools.
Cons
- Pepperstone doesn't offer cTrader Copy, a favoured feature for copying trades found in the cTrader platform, which is available on other platforms such as IC Markets. However, Pepperstone has launched its own user-friendly copy trading app.
- Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies.
- Although its market range has improved, its crypto offerings remain limited compared to brokers specialising in this sector, lacking real coin investment options.
Our Take On XTB
"XTB emerges as an ideal option for novice traders, offering the impressive xStation platform, zero commission pricing, no required minimum deposit, and outstanding educational resources, many of which are conveniently integrated into the platform."
Pros
- XTB ensures swift access to funds, providing fast withdrawals with same-day payments for requests made before 1 pm.
- XTB offers a diverse range of over 7,000 instruments, including CFDs on shares, indices, ETFs, commodities, forex, and cryptocurrencies. The platform also provides real shares, real ETFs, share dealing, and the latest addition, Investment Plans, serving both traders seeking short-term gains and investors focused on long-term growth.
- XTB has raised its interest rate on uninvested funds and introduced zero-fee ISAs for UK clients, offering access to 3,000 stocks and 700 ETFs for diverse investment opportunities.
Cons
- Trading fees are competitive, with average EUR/USD spreads of about 1 pip. However, they are not as low as the most affordable brokers, such as IC Markets. Additionally, an inactivity fee applies after a year.
- The research tools at XTB are commendable but have the potential to excel further. Enhancing them with access to top-tier third-party services like Autochartist, Trading Central, and TipRanks would significantly elevate their offering.
- XTB lacks a raw spread account, a feature increasingly offered by competitors such as Pepperstone. This omission might not satisfy traders seeking the most competitive spreads.
Our Take On FXCC
"FXCC remains a top choice for forex traders, offering over 70 currency pairs, very tight spreads from 0.0 pips in tests, and high leverage up to 1:500 with the ECN XL account."
Pros
- FXCC is a trusted and licensed broker under the regulation of CySEC, a leading European authority ensuring excellent safeguarding standards.
- FXCC has introduced MT5, which in our evaluations, mirrored the trading conditions of MT4 by offering swift execution, improved charting, and market depth tools.
- There are no limitations on short-term trading techniques such as trading and scalping.
Cons
- The range of research tools, such as Trading Central and Autochartist, is quite limited. Leading platforms in this category, like IG, offer more advanced features.
- FXCC's exclusive MetaTrader platform is a limitation, especially when compared to more versatile options like AvaTrade, which offers five different platforms to cater to various trader needs.
- The variety of currency pairs surpasses most options, but the choice of other assets is limited. Notably, stocks are absent.
Our Take On IC Markets
"IC Markets provides excellent pricing, swift execution, and easy deposits. With cutting-edge charting tools like TradingView and the Raw Trader Plus account, it continues to be a preferred option for intermediate and advanced traders."
Pros
- In 2025, IC Markets earned DayTrading.com's accolade for 'Best MT4/MT5 Broker' due to its top-tier MetaTrader integration. This achievement highlights the broker's continuous refinement over the years to enhance the platform experience.
- IC Markets provides some of the industry's narrowest spreads, offering 0.0-pip spreads on major currency pairs. This makes it an extremely cost-effective choice for traders.
- Access over 2,250 CFDs across diverse markets like forex, commodities, indices, shares, bonds, and cryptocurrencies. This variety enables traders to employ diversified strategies.
Cons
- Although there are four top-tier third-party platforms available, the absence of in-house software or a trading app tailored for novice traders is notable.
- The tutorials, webinars, and educational resources require enhancement, lagging behind competitors such as CMC Markets, which diminishes their appeal to novice traders.
- Interest is not paid on idle cash, a feature gaining popularity with alternatives such as Interactive Brokers.
Our Take On Interactive Brokers
"Interactive Brokers ranks highly for seasoned traders due to its robust charting platforms, live data, and bespoke layouts via the new IBKR Desktop app. Its competitive pricing and sophisticated order choices appeal to traders, and its wide equity options are industry-leading."
Pros
- The new IBKR Desktop platform combines the top features of TWS with customised tools such as Option Lattice and MultiSort Screeners, providing an impressive trading experience for traders of all skill levels.
- IBKR offers an economical environment for traders, featuring low commissions, narrow spreads, and a clear fee structure.
- IBKR consistently offers unparalleled access to global equities, with thousands of shares available across over 100 market centres in 24 countries, including the recently added Saudi Stock Exchange.
Cons
- Support can be sluggish and frustrating. Tests reveal that you may face challenges reaching customer service quickly, which could result in delays in issue resolution.
- You are limited to a single active session per account, meaning you cannot use both your desktop programme and mobile app at the same time. This restriction can occasionally lead to a frustrating experience for traders.
- The learning curve for TWS is quite steep, making it tough for novice traders to navigate and grasp all its features. In contrast, Plus500's web platform is far more accessible for those new to trading.
Our Take On IC Trading
"IC Trading offers an ideal environment, featuring top-tier execution speeds of around 40 milliseconds, extensive liquidity, and advanced charting tools, perfect for scalpers, traders, and algorithmic traders."
Christian Harris
Reviewer
Pros
- IC Trading offers top-tier spreads, with some major currency pairs like EUR/USD featuring spreads as low as 0.0 pips, making it an excellent choice for traders.
- IC Trading provides exceptional flexibility, allowing traders to open as many as 10 live accounts and 20 demo accounts. This enables the management of distinct profiles for various activities, including manual and algorithmic trading.
- Trading Central and Autochartist provide valuable technical analysis and actionable ideas. These tools are readily available within the account area or on the cTrader platform.
Cons
- Although IC Trading operates under the reputable IC Markets group, it is licensed by the FSC in Mauritius, a regulator known for its limited financial transparency and lack of robust safeguards.
- Customer support was inadequate during testing, with multiple live chat attempts going unanswered and emails ignored. This raises significant concerns regarding their capacity to manage urgent trading issues.
- Unlike IC Markets, IC Trading lacks support for social trading via the IC Social app or the ZuluTrade platform.
Our Take On Eightcap
"Eightcap excels for traders, offering diverse charting platforms, educational Labs, and AI tools. With over 120 crypto CFDs, it stands out in crypto trading and has won our 'Best Crypto Broker' award twice consecutively."
Pros
- With spreads starting at 0 pips, minimal commission charges, and leverage up to 1:500 for select clients, Eightcap delivers affordable and flexible trading opportunities. These conditions suit various strategies, such as trading and scalping.
- Eightcap has excelled in all essential trading areas, surpassing all rivals to clinch our 'Best Overall Broker' award for 2024. It also earned the titles of 'Best Crypto Broker' and 'Best TradingView Broker' for 2025.
- In 2021, Eightcap enhanced its lineup, now providing an extensive range of cryptocurrency CFDs. It offers crypto/fiat and crypto/crypto pairs, along with crypto indices for comprehensive market exposure.
Cons
- The demo account is available for 30 days, after which it requires a request for extension. This is less convenient than XM's offering, which provides an unlimited demo mode.
- Eightcap must enhance its range of over 800 instruments to rival top competitors like Blackbull Markets, which offers 26,000+ assets, especially improving its limited commodities selection.
- Despite a helpful array of educational guides and e-books in Labs, Eightcap lags behind IG's extensive resources for aspiring traders. IG boasts a dedicated Academy app and features 18 diverse course categories.
What Is A CFD Demo Account?
A CFD demo account is a simulated profile offered by many of the best online brokers. They aim to recreate the virtual experience of a live trading scenario.
Also known as paper trading accounts, these profiles essentially provide a risk-free opportunity for investors to learn platform features and get to grips with how contracts for difference work. They also provide a great setting for experienced traders to build and test a new or risky strategy.
Today, the majority of brokers offer some sort of practice environment for UK traders. However, the amount of virtual funds available and the duration that demo profiles remain active for varies. Brokers with CFD demo accounts also provide different financial assets with varying access to instant and delayed market data.
Demo Accounts Vs Live Accounts
The main difference between a CFD demo account and a live profile is that you do not risk losing any money with a practice account. You can place trades, amend charts or play with leverage, safe in the knowledge that your simulated positions won’t result in any financial losses. Pre-determined or flexible virtual balances are provided so you don’t have to practise trading with any of your personal capital.
The best brokers with CFD demo accounts will simulate real-time market conditions, meaning you can practise against live price shifts. Virtual leverage, spreads and commissions may also be applied to accurately mirror the live trading experience.
With that said, there are some key differences between CFD demo accounts and live trading profiles:
- Additional Fees – You will not incur actual costs with a demo account profile. This means there are no overnight financing charges, trading commissions or floating/fixed spreads to pay. Equally, access to the broker’s CFD trading platform should be provided for free.
- Flexibility – You have full flexibility within a paper trading account to open various positions of different sizes to explore different strategies. The only caveat is that most brokers will often have a minimum and maximum trade size.
- Price Movements – Positions opened via a paper trading profile will not normally be subject to slippage or out-of-hours price movements. Slippage is the difference between your order price (or expected price) and the actual price you end up buying or selling at.
Brokers Offering CFD Demo Accounts
Below is a list of several CFD brokers that offer demo accounts to UK investors:
- CMC Markets – Up to £10,000 in virtual funds, simple online registration (email address only), no time limit, available on proprietary terminal or MT4, secure login
- FXCM – Up to £50,000 in virtual funds, simple online registration (email address only), no time limit but only Monday to Friday paper trading, secure login
- XTB – Up to £10,000 in virtual funds, simple online registration (email address and contact number), 4-week time limit, available on proprietary terminal or MT4, secure login
- IG – Up to £10,000 in virtual funds, more detailed online registration (name, email address and contact number), no time limit, available on proprietary terminal or MT4, secure login
- eToro – Up to £100,000 in virtual funds, live account sign-up is required before being able to select ‘virtual portfolio’, no time limit to switch between live and virtual profile. Clients can also utilise the copy trading feature in the demo account setting
Importantly, all of the examples above provide paper trading services for free.
Pros Of CFD Demo Accounts
- No Risk – CFD demo accounts are a great way to practise a new strategy, learn trading techniques or make risky decisions without the chance of losing real money
- Learning – A demo profile without a time limit means you can spend time identifying any strategy shortcomings or faults and highlight key success points when making CFD trading decisions. It might also be worth keeping a journal
- Build Confidence – Making investing decisions and being rewarded with hypothetical profit can build trading confidence. Additionally, experiencing failure can help tighten risk management strategies before real money is on the line
- Practise – Paper trading profiles are ideal for complete novices to get to grips with trading CFDs. Play around with charting features or experiment with a new indicator without risking cash
Cons Of CFD Demo Accounts
- Access To Features – Some brokers do not permit access to all trading terminals, tools or instruments within a CFD demo account. This may include being able to use advanced graphs, copy trading features or strategy builders
- Emotional Disconnect – The comfort of trading with virtual funds in a completely simulated environment does not allow you to experience the psychological emotions of trading with real funds. It is easy to become risk-averse when high stakes aren’t on the line
- Real-Life Trading Conditions – A broker may not provide access to truly live trading conditions within a paper trading profile. You may experience simulated pricing, tighter spreads or reduced commissions
- Commissions – Not all brokerages will reflect the true expenditure associated with a live trading account. You may practise a specific strategy and come out with an acceptable profit margin within a demo profile. However in real-money trading, trading fees could quickly eat away at profits
- Slippage – Typically, orders within a demo account are executed instantly. Therefore, inexperienced investors may get a false feeling of confidence that doesn’t take into account real-life slippage (when the price at which your order is executed does not match the price at which it was requested)
Getting Started
Choose A CFD Demo Account
Firstly you will need to find a broker that offers CFD demo accounts to new or existing clients. Information may be found on the broker’s homepage, via the FAQ section or in the account registration area.
If it is unclear, it might be worth reaching out to the broker’s customer service team to ask if a practice account is available. Alternatively, use our list of the top CFD demo accounts in the United Kingdom.
Comparing Brokers
The best brokers will provide a free CFD demo account containing all of the features of a live trading profile. This will include access to real-time market conditions, flexible trade sizes, leverage opportunities and wide market access.
It is also worth checking if the paper trading account is available on mobile devices. Get everything you would expect from a desktop paper trading account, including chart trading and technical analysis tools on your smartphone or portable device. Practise monitoring the markets and managing a CFD portfolio while on the go.
Also look out for additional features on the broker’s website that may come in useful when you progress to a live trading account. This could include educational content, a transparent fee structure and 24/7 customer support.
Register For A Demo Account
Once you have found a suitable broker with a CFD demo trading account, create a new profile. This is usually a simple process, requiring online registration only. Most brokers require basic personal details such as an email address and contact number to get started.
You can usually open a CFD demo account for the broker’s proprietary terminal or via the industry-renowned MetaTrader 4. Once an account is created, log in and start trading.
Practice
Once you have registered and opened a paper trading profile, you can begin investing. Spend some time understanding the features of the trading terminal, including all the tools and function buttons. It can feel quite complex at first, particularly for new traders.
Once you feel comfortable with the platform basics, start trialling simple trades before utilising advanced charts, graphs or indicators. Some professionals suggest beginners should place 50+ successful trades before committing to a live trading account.
Remember, there is no monetary risk involved so don’t be afraid to test a technique or strategy that feels risky.
Monitor
As they say, practice makes perfect! Even though no real money is at stake, it is worth taking notes and learning from the experience. You may find an asset of interest, learn a new strategy or become comfortable with a particular trading indicator.
And remember, there is no rush. An interesting find from Barber Lee in the paper ‘Do Day Traders Rationally Learn About Their Abilities’, indicated that 80% of day traders give up within the first two years of trading. With this in mind, start your journey slowly and when you have mastered the basics, invest small amounts to begin with. You can then look to build a long-term CFD investing career.
Bottom Line On CFD Demo Accounts
No matter your experience, CFD demo accounts are a useful tool. They provide a risk-free environment to test strategies, learn platform features or get to grips with a new asset. With no real money investment needed, you can view a broker’s offering before committing to a live profile.
Remember though, don’t become complacent. A false sense of security can be created, which often doesn’t play out in the real world.
FAQs
Why Should I Use A CFD Demo Account?
CFD demo accounts are a great way to practise trading in a risk-free environment. If you want to get into trading CFDs, explore a new platform or refine a strategy, demo accounts can be a good place to start.
What Are The Requirements To Open A CFD Demo Account?
The best brokers will have simple registration requirements to open a free CFD demo account. Often this will involve providing an email address and contact number via an online form. Nevertheless, some brokers may request an initial deposit commitment to a live account to access a paper trading environment.
Are There Any Risks Involved With Using CFD Demo Accounts?
From a monetary perspective, there are no risks. You can often trade with unlimited virtual funds.
Do All Brokers Offer A CFD Demo Account?
Today, the majority of established brokers, including IG, CMC Markets and Barclays, offer a CFD demo account.
How Will I Know If A Broker Offers A CFD Trading Demo Account?
The broker will usually list their demo account options within the ‘accounts’ or ‘trading platform’ sections of their website. If still unclear, contact the broker’s customer service team for support.