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 -
FOREX.com maintains its status as a leading foreign exchange broker, providing access to more than 80 currency pairs at highly competitive rates. Standout features include EUR/USD spreads starting at 0.0 and a $5 commission per $100k traded. Additionally, its SMART Signals feature aids traders by pinpointing price trends in major global markets.
GBPUSD Spread EURUSD Spread GBPEUR Spread 1.3 1.2 1.4 Total Assets FCA Regulated Platforms 80+ Yes MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral -
Eightcap provides over 50 currency pairs, matching the industry norm but falling short of leaders like CMC Markets, which offers more than 300. Nonetheless, Eightcap distinguishes itself with institutional-quality spreads starting from 0.0 pips on major pairs such as EUR/USD. The broker's competitively low commissions at $3.50 per side further enhance its appeal. Eightcap also equips traders with comprehensive forex data, including essential fundamentals, bullish and bearish signals, and a calendar monitoring significant foreign exchange market events.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.1 0.0 0.1 Total Assets FCA Regulated Platforms 50+ Yes MT4, MT5, TradingView -
PrimeXBT provides trading services for more than 50 major, minor, and exotic currency pairs, with the benefit of margin trading and no commission fees. Our recent assessments show the platform to be fast, dependable, and well-equipped, featuring three chart types, ten timeframes, and 91 technical indicators. This makes it ideal for those employing active trading strategies.
GBPUSD Spread EURUSD Spread GBPEUR Spread Variable 0.1 Variable Total Assets FCA Regulated Platforms 45+ No Own
Pepperstone
XTB
FXCC
Vantage FX
IC Markets
FXPro
IG Index
Forex.com
Eightcap
PrimeXBTSafety 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 | ✔ | ✔ | ✔ | ✔ | |
| Forex.com | ✔ | ✔ | ✘ | ✘ | |
| Eightcap | ✔ | ✔ | ✘ | ✔ | |
| PrimeXBT | ✘ | ✔ | ✘ | ✔ |
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 | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| Forex.com | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| Eightcap | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| PrimeXBT | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
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 | ✔ | ||
| Forex.com | iOS & Android | ✘ | ||
| Eightcap | iOS & Android | ✘ | ||
| PrimeXBT | 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 | ||
| Forex.com | ✔ | $100 | 0.01 Lots | ||
| Eightcap | ✔ | £100 | 0.01 Lots | ||
| PrimeXBT | ✔ | $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) | ✔ | ✘ | ✔ | ✔ |
| Forex.com | Expert Advisors (EAs) on MetaTrader | ✘ | 1:30 | ✔ | ✔ | ✔ | ✘ |
| Eightcap | TradingView Bots | ✘ | 1:30 | ✔ | ✘ | ✔ | ✘ |
| PrimeXBT | ✔ | ✘ | 1:1000 | ✘ | ✘ | ✔ | ✘ |
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 | |||||||||
| Forex.com | |||||||||
| Eightcap | |||||||||
| PrimeXBT |
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.
FAQ
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.