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
-
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 -
Grand Capital is a MetaTrader broker offering welcome bonuses, trading competitions, and an easy-to-use copy trading service. With multiple account options and over 400 assets, it caters to different investors and strategies. New users can set up an account and begin trading quickly.
Instruments Regulator Platforms CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options FinaCom MT4, MT5 Min. Deposit Min. Trade Leverage $10 0.01 Lots 1:500 -
MultiBank FX, a reputable broker since 2005, provides forex and CFD products. With over 20,000 instruments, numerous local payment options, and round-the-clock multilingual support, it is favoured by traders worldwide. New clients benefit from bonus offers and can use the popular MT4 and MT5 trading platforms.
Instruments Regulator Platforms Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSC MultiBank-Plus, MT4, MT5, cTrader Min. Deposit Min. Trade Leverage $50 0.1 Lots 1:500 -
Founded in 2005, FXOpen is a well-regulated broker that has drawn over one million traders. Tailored for active trading, it offers a diverse range of over 700 markets. The platform facilitates high-frequency trading, scalping, and various algorithmic strategies through the use of expert advisors (EAs).
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs FCA, CySEC, FC TickTrader, MT4, MT5, TradingView Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (EU, UK), 1:1000 (Global)
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.