Forex Demo Accounts
Forex demo accounts are a safe and convenient way to practise online trading. The best paper trading accounts will replicate the conditions of a real-money account with access to platform features and live pricing. In this guide, we cover how FX demo accounts work and how to get the most out of simulated profiles. We have also compiled a list of the top forex demo accounts in 2025.
Best Forex Demo Accounts UK
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Pepperstone provides forex spreads on the EUR/USD averaging just 0.12 pips with their Razor account. This is highly competitive. Their extensive portfolio includes over 100 currency pairs, which exceeds what most rivals offer. Furthermore, Pepperstone stands out by offering three unique currency indices: USDX, EURX, and JPYX, which are rare on other platforms. They have been recognised with our 'Best Forex Broker' award twice.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.4 0.1 0.4 Total Assets FCA Regulated Platforms 100+ Yes MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower -
XTB offers access to over 70 currency pairs, with competitive spreads averaging about 1 pip for major pairs. Its xStation platform is user-friendly, providing traders with top-tier charting tools, over 30 indicators, and diverse order types to support different strategies and risk management needs.
GBPUSD Spread EURUSD Spread GBPEUR Spread 1.4 1.0 1.4 Total Assets FCA Regulated Platforms 70+ Yes xStation -
FXCC champions its competitive forex trading environment. ECN spreads can drop to an impressive 0.0 pips during busy trading periods. Offering more variety than many competitors, it supports over 70 currency pairs. Furthermore, traders benefit from MT4, renowned for its exceptional charting capabilities, specifically designed for forex trading.
GBPUSD Spread EURUSD Spread GBPEUR Spread 1.0 0.2 0.5 Total Assets FCA Regulated Platforms 70+ No MT4, MT5 -
Vantage provides over 55 currency pairs, exceeding the industry norm, giving traders ample opportunities. With a robust liquidity pool, forex spreads start at 0.0 pips on the ECN account, often beating other options. Additionally, there are no commissions, deposit fees, or hidden charges.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.5 0.0 0.5 Total Assets FCA Regulated Platforms 55+ Yes ProTrader, MT4, MT5, TradingView, DupliTrade -
IC Markets remains dedicated to offering tight 0.0-pip spreads on major currency pairs like EUR/USD, ensuring outstanding execution with an average speed of 35 milliseconds. Ideal for traders seeking high performance, those dealing in large volumes can also enjoy rebates of up to $2.50 per forex lot.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.23 0.02 0.27 Total Assets FCA Regulated Platforms 75 No MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower -
FxPro provides over 70 currency pairs, though minors are excluded, and is renowned for its rapid execution and tight spreads, averaging 0.45 pips on EUR/USD. Traders can design, evaluate, and implement short-term strategies using the top-tier MT4 platform with expert advisors for algorithmic trading.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.6 0.45 0.73 Total Assets FCA Regulated Platforms 70+ Yes FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower -
IG provides an extensive selection of over 80 currency pairs through its own web platform, mobile app, or MetaTrader 4. For advanced charting and forex analysis, the ProRealTime software is available. Testing shows forex spreads are competitive, beginning at 0.1 pips on major pairs such as EUR/USD.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.9 0.8 0.9 Total Assets FCA Regulated Platforms 80+ Yes Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
Pepperstone
XTB
FXCC
Vantage FX
IC Markets
FXPro
IG IndexSafety Comparison
Compare how safe the Forex 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 | ✘ | ✔ | ✘ | ✔ | |
| Vantage FX | ✔ | ✔ | ✘ | ✔ | |
| IC Markets | ✘ | ✔ | ✘ | ✔ | |
| FXPro | ✔ | ✔ | ✘ | ✔ | |
| IG Index | ✔ | ✔ | ✔ | ✔ |
Payments Comparison
Compare which popular payment methods the Forex 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 | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| Vantage FX | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| IC Markets | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| FXPro | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| IG Index | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
Mobile Trading Comparison
How good are the Forex 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 | ✘ | ||
| Vantage FX | iOS & Android | ✘ | ||
| IC Markets | iOS & Android | ✘ | ||
| FXPro | iOS & Android | ✘ | ||
| IG Index | iOS & Android | ✔ |
Beginners Comparison
Are the Forex 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 | ||
| Vantage FX | ✔ | $50 | 0.01 Lots | ||
| IC Markets | ✔ | $200 | 0.01 Lots | ||
| FXPro | ✔ | $100 | 0.01 Lots | ||
| IG Index | ✔ | $0 | 0.01 Lots |
Advanced Trading Comparison
Do the Forex 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 | ✔ | ✘ | ✔ | ✘ |
| Vantage FX | Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | ✘ | 1:30 | ✔ | ✘ | ✘ | ✘ |
| IC Markets | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | ✘ | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | ✔ | ✘ | ✔ | ✘ |
| FXPro | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✘ | ✔ | ✘ |
| IG Index | Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | ✔ | 1:30 (Retail), 1:222 (Pro) | ✔ | ✘ | ✔ | ✔ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Forex Demo Accounts.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| Pepperstone | |||||||||
| XTB | |||||||||
| FXCC | |||||||||
| Vantage FX | |||||||||
| IC Markets | |||||||||
| FXPro | |||||||||
| IG Index |
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
- 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 offers rapid execution speeds of approximately 30ms, enabling swift order processing and execution, making it ideal for traders.
- 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.
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.
- Although its market range has improved, its crypto offerings remain limited compared to brokers specialising in this sector, lacking real coin investment options.
- Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies.
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
- Top-notch customer support, available 24/5, includes a welcoming live chat with response times under two minutes during tests.
- XTB ensures swift access to funds, providing fast withdrawals with same-day payments for requests made before 1 pm.
- Setting up an XTB account is straightforward and fully online, requiring only a few minutes. This simplicity eases new traders into the world of trading.
Cons
- 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.
- XTB has stopped supporting MT4, restricting traders to its own platform, xStation. This decision may discourage experienced traders accustomed to using the MetaTrader suite.
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 offers competitive and transparent ECN spreads starting from 0.0 pips, with no commissions. This makes it one of the most cost-effective forex brokers available.
- There are no deposit fees other than standard cryptocurrency mining charges, which benefits active traders.
- FXCC has introduced MT5, which in our evaluations, mirrored the trading conditions of MT4 by offering swift execution, improved charting, and market depth tools.
Cons
- Unaware traders might face steep withdrawal fees, such as a notable $45 for bank transfers.
- While the MetaTrader suite excels in technical analysis, its outdated design detracts from the overall trading experience, particularly when contrasted with contemporary platforms such as TradingView.
- 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.
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
- Opening a live account is both straightforward and swift, requiring under 5 minutes to complete.
- With a minimal deposit requirement of just $50 and no funding fees, this broker stands out as an excellent option for novice traders.
- The trading software suite is outstanding, featuring the acclaimed MT4 and MT5 platforms.
Cons
- It's unfortunate that some clients must register with the offshore firm, which provides reduced regulatory safeguards.
- To access optimal trading conditions, a substantial deposit of $10,000 is required. This includes a commission of $1.50 per transaction per side.
- Based on tests, average execution speeds of 100ms to 250ms are slower compared to other options.
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
- As a well-regulated and reputable broker, IC Markets focuses on client safety and transparency to provide a dependable global trading experience.
- IC Markets provides reliable 24/5 support, especially for account and funding queries, drawing from direct experience.
- 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.
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.
- IC Markets provides metals and cryptocurrencies for trading through CFDs, though the selection is narrower compared to brokers such as eToro. This limits opportunities for traders focused on these asset classes.
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'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.
- 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 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.
Cons
- 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.
- 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.
- 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.
Our Take On IG Index
"IG offers a complete package with an intuitive online platform, top-tier beginner education, advanced charting tools through its TradingView integration, real-time data, and swift execution for seasoned traders."
Pros
- IG provides a wide range of professional and engaging educational materials, such as webinars, articles, and analyses, tailored for traders.
- As a seasoned broker, IG adheres to stringent regulatory standards across various regions, ensuring significant trust.
- IG stands out with its extensive range of instruments, offering stocks, forex, indices, commodities, and cryptocurrencies. Additionally, it has recently introduced US-listed futures and options, along with an AI Index. These options enhance opportunities for diversification in trading.
Cons
- In the UK and EU, negative balance protection is available. However, US clients lack account protection and guaranteed stop losses.
- IG imposes a monthly inactivity fee of $12 after two years, discouraging occasional traders.
- Based on tests, stock and CFD spreads remain less competitive than the lowest-cost brokers, such as CMC Markets.
How Does A Forex Demo Account Work?
Forex demo trading accounts came to light in the early 2000s, following an explosion in the online investment landscape facilitated by high-speed internet services.
Paper trading profiles essentially simulate real market conditions. They are offered by online brokers to give prospective users insights into how their trading platforms, tools and products work. The aim is to recreate the experience of live forex trading.
Pre-determined or flexible virtual balances are provided so clients don’t have to practise with personal capital. The top apps and platforms offer an unlimited virtual balance with no expiry. With that said, some paper trading profiles are only available for a set period, for example, 30 days.
Ultimately, paper trading accounts offer a safe space to practise investing, learn platform features or test a new forex strategy without risking real cash. Popular with beginners, in particular, many of the best brokers in the UK offer a free forex demo trading account.
Pepperstone forex demo account
Differences Between Demo Accounts & Live Accounts
There are some key differences between forex demo trading accounts and real-money profiles:
- Execution – In a demo account environment, investors do not have to contend with broker liquidity and volume differentials. In a live forex account, trades must be ‘filled’, which can lead to delays in fast-moving, highly volatile markets. However, trades made in a simulated environment are normally executed instantly.
- Fees – Forex demo accounts are free. There is no minimum deposit requirement or charge to use platform features, including advanced charting, technical indicators or news feeds.
- Pricing – A demo feed may be based on a live feed, however there may be delays in the reflection of prevailing market prices. These can range from a few seconds to several minutes.
Pros Of Forex Demo Account
- Risk-Free – Forex trading demo accounts are a great way to practise a new strategy or make risky decisions without the possibility of losing real money.
- Learn – Opening a forex practice account essentially provides access to free training. Alongside a demo account, the top brokers also provide educational content and resources such as tutorials, webinars and online glossaries,
- Practise – Learn how to open and close forex trades, plus use risk management tools like stop-loss and take-profit orders. Demo accounts also offer a good opportunity to test strategies on more volatile, exotic forex pairs.
- Manage Emotions – Being rewarded with a hypothetical profit can build confidence. Experiencing failure can also finesse tighter risk management strategies when it comes to live forex trading.
Cons Of Forex Demo Accounts
- Access To Features – Some forex exchanges do not provide retail traders with access to all trading platforms, tools or apps in the demo account setting. This can include access to historical pricing, advanced charting tools or third-party strategy bots.
- Unrealistic Expectations – The experience and results when trading on a demo account don’t always accurately reflect the real-money trading environment. An unlimited bankroll and no slippage can give a false sense of confidence.
- Emotional Disconnect – The comfort of trading forex currency pairs in a virtual environment does not allow you to experience the psychological emotions of trading with your own money. It is easy to become overconfident and take greater risks when your personal funds aren’t on the line.
How To Compare Forex Demo Accounts
Free Services
Most UK brokers offer completely free forex demo accounts. Nevertheless, look out for brokerages that require funding to a live account before being able to access paper trading services.
IG and FXCM are examples of brokers with demo profiles available at no cost.
Educational Content
Some platforms provide access to free educational resources alongside their demo account. This is particularly useful for forex beginners.
Admiral Markets, for example, offers a forex 101 online trading course that can be used alongside its demo account. The free course is separated into nine modules, with access to professional guidance, glossaries and integrated tutorial support.
Time Limit
The best forex demo trading accounts will have no time limit or expiry. This means you can always return to the paper trading environment to test or refine a new strategy or investing system.
City Index provides a free demo account service. Retail traders can trial advanced features including TradingView charts, Trading Central analysis and more. However, a 12-week time limit applies which may deter some beginners.
Competitions
Some brokers also offer forex demo contests and competitions. Online tournaments usually require participants to generate the most profit with virtual funds.
As well as a great way to test your skills against other traders, some platforms and apps offer real cash prizes with capital that can be used in the real-money environment.
Note, rules, terms and conditions, plus eligibility vary by broker and contest.
Platforms & Apps
The best forex demo accounts provide access to leading trading platforms and apps. Whether it’s a proprietary terminal or the industry-established MetaTrader 4 (MT4) and MetaTrader 5 (MT5), check user-friendly and reliable trading applications are available.
Design, functionality and ease of use will differ between terminals. The MT4 forex demo account, for example, facilitates copy trading via signals and automated strategies through Expert Advisors (EAs).
It is also worth looking for mobile-compatible forex trading apps. This means you can extend your practice sessions while on the go.
Forex trading demo accounts are becoming increasingly popular on mobile devices thanks to the integration of intuitive designs, consolidated charting and slick navigation features. Simply check for iPhone (iOS) and Android (APK) compatibility.
The Best Forex Demo Accounts For UK Investors
We have compared some of the top forex demo trading accounts for UK investors based on our detailed reviews:
- EasyMarkets – The EasyMarkets forex demo account is free to download and is available on MT4 and the broker’s proprietary terminal. Investors can test out intuitive features such as Deal Cancellation and Freeze Rate across all 103 currency pairs. The broker also has a comprehensive education platform – Learn Centre. Here, traders can access articles, videos and ebooks with topics including risk management, forex trading strategies and investing psychology.
- IG – Develop your trading skills on one of the top forex demo accounts for beginners. Practise trading with £10,000 in virtual funds, gain exclusive access to educational content with the IG academy and test strategies risk-free via the mobile app. Practise accounts are available on MT4 or the proprietary IG platform. The broker is also authorised and regulated by the Financial Conduct Authority (FCA).
- Pepperstone – A free forex demo account profile with trading opportunities on 80+ currency pairs. Practise profiles can be opened on the MT4, MT5 or cTrader platforms. UK investors can access up to £500,000 in virtual funds. The only downside is the time limit of 30 days. Complete the online application form on the broker’s site with your name, email address and phone number to get started.
IG forex demo account
Getting The Most Out Of Your Forex Demo Account
Below are some top tips to get the most out of your forex demo account from the first login:
Create A Plan
The first step is to develop a trading strategy that you can replicate in a live forex trading account. While you may be trialling a demo account as a complete beginner, it is still worth having the basics planned out from the first sign-in.
Your plan could include the currency pairs you are interested in trading, the time of day that you will be dealing and the strategy you intend to use to inform entries and exits.
Create Goals
Create a checklist of objectives you will meet before switching to a real-money account.
Examples of goals could include executing 25 trades, achieving three months of profitable trading, or making 20% of your initial virtual balance back.
Log Results
A log or journal can be used to document successes and failures. This can help you pinpoint errors and improve trading strategies and systems. It is also good practice to get into before you start trading forex with real money.
Bottom Line On Forex Demo Accounts
The best forex demo accounts for beginners and novice investors will provide access to live trading conditions. Look out for the terms and sign-up requirements, including the size of the virtual bankroll and any expiry period. Also check for free registration and compatibility with a downloadable mobile app.
Use our list of the best forex demo accounts in 2025 to get started.
FAQs
What Is A Forex Demo Account?
A forex demo trading account is a virtual investing profile offered by online brokers. The aim is to recreate the experience of ‘live’ trading but with virtual funds. This means users can place trades, practise strategies or learn platform features in a risk-free environment.
Are Forex Demo Accounts Accurate?
The majority of forex demo accounts offered by the top UK brokers fairly accurately mimic ‘live’ conditions. This means providing real-time pricing that reflects current market conditions, including volume and volatility.
Which Brokers Offer A Free Forex Demo Account On MT4?
Some of the best brokers that offer unlimited access to a forex demo account on the MT4 platform include IG and EasyMarkets. Pepperstone does provide a free demo profile, however, access is restricted after 30 days.
What Should I Consider When Comparing Demo FX Accounts Online?
Before you open a forex demo trading account, decide what you want to achieve from your practice profile. Do you want to test a new strategy, learn how to trade on charts, or trial risk management alerts and tools? Also look at the size of the virtual balance provided and any time limits.
Are Forex Demo Accounts Rigged?
No – forex demo accounts are not rigged and the majority of profiles mirror real trading conditions. With that said, paper trading profiles do not always take into account slippage, requotes and the psychological pressures that come with live forex trading.