Demo Trading Competitions
Demo trading competitions are an increasingly popular way to test your skills against other traders in a risk-free environment. These competitions, hosted by online brokers and trading platforms, allow participants to trade with virtual funds and compete for prizes, such as cash or trading credits.
This guide uncovers the pros and cons of trading demo competitions, alongside entry criteria and standard terms and conditions. Our team also rank the best UK brokers with demo trading competitions:
Brokers With Demo Trading Competitions
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Founded in 1989, CMC Markets is a reputable broker publicly listed on the London Stock Exchange. It holds authorisation from top-tier regulators such as the FCA, ASIC, and CIRO. The brokerage, which has received multiple awards, boasts a global membership exceeding one million traders.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA Web, MT4, TradingView Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30 (Retail), 1:500 (Pro) -
Founded in 2006, FxPro has built a reputation as a reliable non-dealing desk (NDD) broker, providing trading access across more than 2,100 markets to over 2 million clients globally. It has received over 100 industry awards, reflecting its favourable conditions for active traders.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, Futures, Spread Betting FCA, CySEC, FSCA, SCB, FSA FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (Retail), 1:500 (Pro) -
Established in 2009, Vantage provides trading on more than 1,000 short-term CFD products to over 900,000 clients. Forex CFDs are available from 0.0 pips on the RAW account via TradingView, MT4, or MT5. Regulated by ASIC, Vantage ensures that client funds are kept in separate accounts. Traders looking to copy strategies will benefit from a wide array of social trading tools.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Spread betting FCA, ASIC, FSCA, VFSC ProTrader, MT4, MT5, TradingView, DupliTrade Min. Deposit Min. Trade Leverage $50 0.01 Lots 1:30 -
Established in 2008, NordFX is an offshore CFD brokerage catering to over 1.7 million clients across 190 countries. It provides trading opportunities in forex, stocks, commodities, indices, and cryptocurrencies. Traders use the MT4 and MT5 platforms, benefiting from zero spreads and minimal commissions. The company offers significant leverage of up to 1:1000, with initial deposits starting at just $10.
Instruments Regulator Platforms Forex, CFDs, indices, commodities, cryptos, stocks MT4, MT5 Min. Deposit Min. Trade Leverage $10 $1 1:1000 -
FXCM, a reputable forex and CFD broker founded in 1999, is headquartered in the UK. It has garnered multiple accolades and operates in several regions, including the UK and Australia. Offering more than 400 assets and comprehensive analysis tools without any commission charges, FXCM is a favoured option among traders. The broker is also under the regulation of leading bodies such as the FCA, ASIC, CySEC, FSCA, and BaFin.
Instruments Regulator Platforms Forex, Stock CFDs, Commodities CFDs, Crypto CFDs FCA, CySEC, ASIC, FSCA, BaFin, CIRO Trading Station, MT4, TradingView, Quantower Min. Deposit Min. Trade Leverage $50 Variable 1:400 -
Founded in 2007, Axi is a forex and CFD broker operating under multiple regulations. Over the years, it has enhanced the trading experience by broadening its stock offerings, upgrading the Axi Academy, and launching a proprietary copy trading app.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, Crypto FCA, ASIC, FMA, DFSA, SVGFSA Axi Copy Trading, MT4, AutoChartist Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30 -
CloseOption, based in Georgia, has over ten years of experience in the trading sector. The firm provides high/low binary options on forex and cryptocurrency markets, offering competitive payouts. Clients benefit from welcome bonuses, round-the-clock customer support, and user-friendly trading platforms.
Instruments Regulator Platforms Binary Options on Forex & Cryptos National Bank of Georgia Own Min. Deposit Min. Trade Leverage $5 $1
CMC Markets
FXPro
Vantage FX
NordFX
FXCM
Axi
CloseOptionSafety Comparison
Compare how safe the Demo Trading Competitions are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
| CMC Markets | ✔ | ✔ | ✔ | ✔ | |
| FXPro | ✔ | ✔ | ✘ | ✔ | |
| Vantage FX | ✔ | ✔ | ✘ | ✔ | |
| NordFX | ✘ | ✘ | ✘ | ✘ | |
| FXCM | ✔ | ✔ | ✘ | ✔ | |
| Axi | ✔ | ✔ | ✘ | ✔ | |
| CloseOption | ✘ | ✘ | ✘ | ✔ |
Payments Comparison
Compare which popular payment methods the Demo Trading Competitions support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
|---|---|---|---|---|---|---|
| CMC Markets | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| FXPro | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| Vantage FX | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| NordFX | ✘ | ✘ | ✔ | ✔ | ✔ | ✘ |
| FXCM | ✔ | ✔ | ✔ | ✘ | ✘ | ✔ |
| Axi | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| CloseOption | ✘ | ✘ | ✘ | ✘ | ✘ | ✘ |
Mobile Trading Comparison
How good are the Demo Trading Competitions at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| CMC Markets | iOS & Android | ✘ | ||
| FXPro | iOS & Android | ✘ | ||
| Vantage FX | iOS & Android | ✘ | ||
| NordFX | iOS & Android | ✘ | ||
| FXCM | iOS and Android | ✘ | ||
| Axi | iOS & Android | ✘ | ||
| CloseOption | iOS & Android | ✘ |
Beginners Comparison
Are the Demo Trading Competitions 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 |
|---|---|---|---|---|---|
| CMC Markets | ✔ | $0 | 0.01 Lots | ||
| FXPro | ✔ | $100 | 0.01 Lots | ||
| Vantage FX | ✔ | $50 | 0.01 Lots | ||
| NordFX | ✔ | $10 | $1 | ||
| FXCM | ✔ | $50 | Variable | ||
| Axi | ✔ | $0 | 0.01 Lots | ||
| CloseOption | ✔ | $5 | $1 |
Advanced Trading Comparison
Do the Demo Trading Competitions offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| CMC Markets | Expert Advisors (EAs) on MetaTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✘ | ✔ | ✔ |
| FXPro | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✘ | ✔ | ✘ |
| Vantage FX | Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | ✘ | 1:30 | ✔ | ✘ | ✘ | ✘ |
| NordFX | Expert Advisors (EAs) on MetaTrader | ✘ | 1:1000 | ✔ | ✘ | ✘ | ✘ |
| FXCM | - | ✘ | 1:400 | ✘ | ✘ | ✘ | ✘ |
| Axi | Expert Advisors (EAs) on MetaTrader, Myfxbook | ✔ | 1:30 | ✔ | ✘ | ✔ | ✘ |
| CloseOption | - | ✘ | - | ✘ | ✘ | ✘ | ✘ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Demo Trading Competitions.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| CMC Markets | |||||||||
| FXPro | |||||||||
| Vantage FX | |||||||||
| NordFX | |||||||||
| FXCM | |||||||||
| Axi | |||||||||
| CloseOption |
Our Take On CMC Markets
"Equipped with advanced charts and a broad array of tradable CFDs, including an unmatched selection of currencies and bespoke indices, CMC Markets offers an excellent online platform for traders at any level."
Pros
- We've upgraded the 'Assets & Markets' rating due to frequent product enhancements in early 2025. These include extended trading hours for US stocks and the introduction of new share CFDs.
- The CMC web platform offers an exceptional user experience with sophisticated charting tools for trading and customisable options, suitable for both novice and seasoned traders. It supports MT4 but not MT5, and TradingView will be available from 2025.
- CMC provides competitive pricing with narrow spreads and low trading fees, except for stock CFDs. The Alpha and Price+ programmes offer additional benefits for active traders, including discounts on spreads of up to 40%.
Cons
- Although there have been improvements, the online platform still needs further refinement to match the user-friendly trading experience offered by competitors such as IG.
- Trading stock CFDs comes with a relatively high commission, particularly when compared to low-cost brokers such as IC Markets.
- The CMC Markets app provides a comprehensive trading package; however, its design and user experience lag behind market leaders such as eToro.
Our Take On FXPro
"FxPro is an excellent choice for traders, offering swift execution speeds under 12ms, reduced fees since 2022, and outstanding charting platforms like MT4, MT5, cTrader, and FxPro Edge."
Pros
- FxPro uses a 'No Dealing Desk' (NDD) model for swift and transparent order execution, usually within 12 milliseconds, making it well-suited for short-term trading strategies.
- FxPro provides four dependable charting platforms, including the user-friendly FxPro Edge. It features more than 50 indicators, 7 types of charts, and 15 different timeframes.
- FxPro's Wallet is a notable feature enabling traders to securely manage their funds. It ensures additional protection and ease by separating unused funds from active trading accounts.
Cons
- There are no passive investment options such as copy trading or interest on cash. While traders might not find these essential, competitors like eToro, which accommodate both active and passive investors, offer more extensive services.
- FxPro, with its $10M funded demo account and expanding Knowledge Hub, mainly caters to experienced traders. Beginners might find its account and fee structure challenging to understand.
- FxPro offers customer support five days a week around the clock, accessible via various platforms, and the service quality is reliable based on tests. However, the absence of weekend support can be a drawback for traders requiring help beyond standard market times.
Our Take On Vantage FX
"Vantage is an ideal choice for CFD traders looking for a well-regulated broker with access to the dependable MetaTrader platforms. With a swift sign-up process and a minimum deposit of $50, starting trading is simple and fast."
Pros
- Vantage upholds a high trust score through its solid reputation, backed by premier regulation from the FCA and ASIC.
- The trading software suite is outstanding, featuring the acclaimed MT4 and MT5 platforms.
- With a minimal deposit requirement of just $50 and no funding fees, this broker stands out as an excellent option for novice traders.
Cons
- To access optimal trading conditions, a substantial deposit of $10,000 is required. This includes a commission of $1.50 per transaction per side.
- It's unfortunate that some clients must register with the offshore firm, which provides reduced regulatory safeguards.
- Based on tests, average execution speeds of 100ms to 250ms are slower compared to other options.
Our Take On NordFX
"NordFX offers competitive conditions solely for top-tier accounts, ideal for seasoned traders pursuing zero-spread trading via MetaTrader. The minimum deposit is $100 for MT4 and $200 for MT5."
Pros
- NordFX has enhanced its charting tools for seasoned traders by incorporating MT5 alongside MT4, offering quicker, multi-threaded processing.
- A wide array of trading tools enhances the trading environment, such as VPS hosting, calculators, live signals, and an economic calendar.
- The user-friendly trading service might attract novice or advancing traders, requiring only a £100 initial deposit to begin.
Cons
- The absence of robust regulatory oversight at NordFX raises concerns. Clients face limited protection, with no negative balance safeguards and no segregated accounts.
- While NordFX provides competitive pricing with its Zero accounts, it lags behind more cost-effective brokers such as IC Markets. Conversely, its Pro accounts come with some of the highest spreads in the market, starting from 10 pips.
- NordFX offers a limited market range, featuring just approximately 100 instruments. The selection of shares is especially sparse, with only about 20 available.
Our Take On FXCM
"FXCM remains a leading choice for traders using automated strategies, offering four robust platforms, strategy backtesting, and algorithmic trading via APIs. It is also ideal for active traders, providing discounted spreads and minimal to zero commissions on popular assets."
Pros
- The broker provides reduced spreads and additional benefits for seasoned traders through the Active Trader account.
- Traders have access to premium tools such as a market scanner, forex signals, and research from the third-party site eFXPlus.
- The proprietary Trading Station platform is an excellent option for traders seeking a comprehensive tool for their short-term and automated strategies.
Cons
- There are no retail account options available for traders, and Cent/Micro account alternatives are also absent.
- The live chat support is often sluggish and inconsistent when compared to leading competitors.
- While FXCM primarily caters to seasoned traders, the absence of managed accounts is unfortunate.
Our Take On Axi
"Axi excels for forex trading on MetaTrader 4 with over 70 currency pairs, MT4 NextGen features, and tight spreads starting at 0.2 pips on the Pro account."
Pros
- Based on our tests, Axi's new trading app is highly intuitive. It offers practical filtering options to align strategies with individual risk preferences.
- Experienced traders are invited to join the Axi Select funded trader programme via the broker's international branch. This scheme offers up to $1 million in capital with the benefit of a 90% profit share.
- Axi provides an excellent MT4 experience, enhanced by the NextGen plug-in for sophisticated order management and analytics, with low execution latency around 30ms.
Cons
- Even with the expansion of stock CFDs in the US, UK, and EU markets, its range still falls short compared to companies like BlackBull, which provide thousands of equities for varied trading opportunities.
- Axi lags by solely providing MT4, while competitors have upgraded to MT5, cTrader, TradingView, and bespoke platforms, delivering a smoother user experience with enhanced tools.
- Although Axi delivers excellent performance, its support is not available 24/7. This unavailability can be inconvenient for traders operating in different time zones or requiring help beyond regular trading hours.
Our Take On CloseOption
"CloseOption is an excellent choice for traders looking for an intuitive binary options platform offering substantial returns and sign-up incentives."
Pros
- CloseOption hosts weekly trading competitions, awarding cash prizes to traders.
- New traders can begin with just a £5 minimum deposit.
- Free practice account
Cons
- Binary options are exclusively offered for both traditional currencies and cryptocurrencies.
- CloseOption lacks regulation by a reputable financial authority.
- Clients must deposit over $50,000 to be eligible for the highest returns.
What Is A Demo Trading Contest?
A demo trading competition is a simulated contest that allows traders to compete against each other using a virtual bankroll. The winner, or winners, are typically those that generate the highest returns within a specified period, often a few weeks or months. Some may have additional criteria, such as the number of trades made or the risk management techniques used.
Demo trading competitions are normally organised by online brokers, allowing aspiring investors to test their strategies, gain experience and improve their trading skills. They are also offered as a way to attract new traders and encourage existing investors to become more active.
The virtual money used in the competitions is provided by the hosting broker, and participants can use it to trade a variety of financial instruments, such as forex, stocks, and commodities.
Prizes are given to the top-performing traders. Rewards may include cash gifts, trading credits, or other incentives. The value of the prizes varies depending on the size of the competition and the broker or trading platform offering it. CloseOption, for example, offers an $850 cash reward to its winner.
CloseOption Demo Contest Winners
How To Take Part
Registration
Investors normally register for demo trading competitions by providing their contact details and creating a contest account with the hosting brokerage. Some firms may also request that you open a live account before entering.
There will be a window of time whereby traders can enter, and the terms and conditions of the competition will be stated. Read these carefully before entering.
Virtual Trading
Traders are given a predetermined amount of virtual money to use for online trading, often between £10,000 and £1000,000.
Importantly, the virtual trading environment is designed to simulate live market conditions, and traders can test their strategies without risking real money.
Ranking
Demo trading contests typically last for a set period, ranging from several days to a few months.
During this period, the best brokers with demo trading contests will host a live leaderboard showing the latest rankings. Leaderboards are usually updated daily. The traders with the highest ROI or profit percentage are ranked at the top of the leaderboard.
Prizes
The value of the prizes may vary depending on the size of the competition and the broker or trading platform hosting it. For example, Axi’s top prize is $1,000, whereas IC Markets goes up to $10,000.
Winners are normally contacted by email when the demo trading contest finishes. Prizes are then credited to client accounts.
Pros Of Demo Trading Competitions
- Risk-free trading – Traders can test their strategies and ideas without risking real money.
- Learning opportunity – Demo competitions can be a great way to learn about different markets. Traders can test their skills, learn from their mistakes, and refine their trading systems.
- Motivation – Trading demo competitions can be a fun and engaging way to try out new approaches. The competitive aspect of contests can also motivate traders to improve.
- Prizes – Trading demo competitions often offer prizes to the top-performing traders. These can include cash rewards, trading credits, or merchandise.
- Access to new platforms – Participating in demo trading competitions can be a good way to explore new platforms, apps and trading tools before risking money in a live account.
Cons Of Trading Demo Competitions
- Unrealistic trading environment – Traders may take risks and make decisions that they would not make in a real money environment, which can lead to mistakes in a live trading account.
- Lack of emotional involvement – Trading demo competitions do not involve real money, so traders do not experience the true emotional impact of winning or losing cash. This can create a false sense of confidence when investors start trading with real money.
- Limited trading experience – Demo competitions typically have a short time frame, usually a few weeks, which may not provide investors with enough time to gain the necessary experience to become successful in the long term.
- Emphasis on short-term gains – Demo trading competitions often focus on short-term gains rather than long-term profitability. This can encourage traders to take high risks and make impulsive trading decisions.
- Lack of transparency – Some demo trading competitions are not transparent in terms of their rules, scoring system, or selection process.
How To Compare Brokers With Trading Demo Competitions
Rules
Evaluate the terms and conditions of the demo trading competition, including the prizes, scoring system, and duration of the contest.
All demo competitions are good practice, but some will give you better conditions and potential prizes than others, with the biggest trading demo competitions offering prize pots of £10,000+, some of which you may be able to withdraw or use in a live trading environment.
Reputation & Regulation
The best brokers with demo trading competitions hold a license with a trusted regulator. For British traders, the top brokers are regulated by the Financial Conduct Authority.
Several FCA-regulated brokers offer demo competitions, including Axi.
Trading Platform
The trading platform should be user-friendly, stable, and have all the necessary tools for technical analysis and online trading. The demo platform should also simulate real trading conditions as closely as possible.
Among the most popular platforms used for demo trading contests are MetaTrader 4 and MetaTrader 5.
Market Access
Consider the range of markets offered by the broker. Do they offer stocks, forex, cryptos and commodities?
This is important because demo trading competitions should serve as good practice, and the instruments should match those you plan to trade with real money.
Customer Support
Check the quality and availability of customer support. Does the broker offer 24/5 or 247 customer support, and is it available via accessible channels, such as live chat, social media or telephone?
Bottom Line On Demo Trading Competitions
Brokers with demo trading competitions offer a useful and enjoyable way for traders to sharpen their skills and compete with other investors without risking real money. While there are limitations to using demo accounts, such as the absence of psychological pressure, virtual trading contests still provide valuable experience. Traders can refine their strategies, gain confidence in their abilities, and develop the discipline and risk management skills needed to succeed in real-money trading.
To take part in virtual trading contests, see our list of the best brokers with demo trading competitions.
FAQ
What Are Demo Trading Competitions?
Demo trading competitions are virtual investing contests where participants trade with simulated funds provided by the hosting platform or broker. Participants compete against each other to see who can make the most profit within a given time frame. Some demo trading contests also offer prizes, including cash gifts and bonus credit for trading in a live account.
Are Trading Demo Competitions Free To Join?
Most trading demo competitions are free to join. However, some brokers may require a deposit to open a live account before you can take part in the virtual trading contest. Check the entry requirements before opting in.
Can Traders Win Real Money In Demo Competitions?
Yes, some brokers with demo trading competitions offer cash or trading credits to the winners. However, it is important to note that these winnings are usually subject to terms and conditions, such as withdrawal restrictions or time limits.
What Is The Duration Of Trading Demo Competitions?
The duration of demo trading competitions can vary, depending on the hosting platform or broker. Some demo trading contests last for a few days, while others can go on for several weeks or even months.
Are Trading Demo Competitions Good For Traders?
Demo trading competitions can be beneficial for traders in several ways. They provide a risk-free environment for traders to test their skills and strategies and also offer an opportunity to learn from other traders’ techniques. Participating in these competitions can help traders develop discipline, emotional control, and risk management skills.