Free demo account for forex and CFD trading

Entering a real market can be very difficult and risky, that’s why smart FX and CFD traders use a demo account. This account provides a safe place for anyone who wants to give a go to trading forex, stocks, indices, commodities and cryptocurrencies without risking their hard made money. Let’s have a quick look at what everything a demo account is good for:

  • Touching the market with our own hands and getting the feeling of trading
  • Testing a broker’s platform
  • Testing and verifying trading plans and strategies
  • Identifying our strengths and weaknesses (so you know what you need to work on)

Plus500 demo account (highly recommended)

Plus500 is a popular CFD broker that features in its offer a free unlimited demo account. This account can be set up in a matter of seconds, the only required information is your name and your email address. A deposit is not compulsory. The broker has a no commission policy and the spreads are superior. Plus500 has a very intuitive trading platform and the customer support is available in 16 languages.

  • Website: https://www.plus500.com (Review)
  • Minimum deposit: 100
  • Minimum deposit in order to create demo account:$ 0
  • The time period for which the demo can be used: Unlimited
  • The number of imaginary chips: 50 000 (currency of your choosing)
  • Regulated: Yes, in Europe by the CySEC and FCA, in Australia by the ASIC

76.4% of retail CFD accounts lose money.

How should be demo accounted properly used

Simply put, the purpose of a demo account is to learn how to trade. However, that is easier said than done. In order to get the most experience from trading on a demo account, you need to act as if you were trading with real money. Only then you can find out, whether you will have a solid chance on the real market. The setting of your demo account should mirror conditions which you will have with your real account. Why would you trade 100 000 imaginary chips, when you don’t plan to trade with this capital on a real account? Why would you invest 25% of your funds in a single trade, just because you feel like it? I highly recommend doing the same things as if you really had your own money on the line. Otherwise, you might end up learning bad habits which cannot be that easily unlearned later.

Build a winning and working trading system

I love the famous quote “Fail to plan and you plan to fail“. It describes exactly what a lot of people come across in trading. Random trades without a proper plan don’t have any meaning and are most likely doomed to failure. If you fall into the category of people people who do not have a plan yet, then this is your time, because that’s exactly what a demo account is for. To prepare a strict trading plan, which will include everything (entry levels, exit levels, MM and so on). You need to have the ability to repeat your previous results and only a trading plan can provide that. There is no space for an outcome which you can not repeat when it comes to trading.
Free demo account for forex and CFD trading

XM.com demo account

XM.com is popular European based broker that offer offers very fair spreads, MT4 and MT5, WebTrader, free webinars and more. Forex traders can also take advantage of free trading signals that the broker provides.

  • Website: http://www.XM.com (Review)
  • Minimum deposit: $ 5 
  • Minimum deposit in order to create demo account: $ 0
  • Time period for which the demo can be used: unlimited
  • The number of imaginary chips: 10 000
  • Regulated: Yes, in Europe by the CySEC and FCA

68.1% of retail CFD accounts lose money.

IQ Option demo account

IQ Option is another major player in the FX industry. The company has its own unique in-house built platform where one can start trading with as little as $10. A demo account does not require any initial deposit and can be used simultaneously with a real account, no time restrictions apply.

  • Website: https://www.IQOption.com (Review)
  • Minimum deposit: 10 
  • Minimum deposit in order to create demo account: $ 0
  • Time period for which the demo can be used: Unlimited
  • The number of imaginary chips: 10 000
  • Regulated: Yes, by the CySEC

76%  of retail CFD accounts lose money.

Michael

Hi, I'm Michael and my area of expertise is forex and cryptocurrency trading. I specialize in technical analysis, namely in chart pattern setups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. I do not give investment advice, but for general inquiries please use the comment section under any article.
Michael

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Broker of the month
December 2019
1 ETFinance Visit nowReview

71% of retail CFD accounts lose money.

Top 5 Forex/CFD brokers
1 GMOTrading
4.6
Visit nowReview
2 iTrader
4.4
Visit nowReview
3 IQ Option
4.2
Visit nowReview
4 Plus500
3.9
Visit nowReview
5 Forexcom
3.4
Visit now

Between 69-81.65% of retail investor accounts lose money when trading CFDs.


All those commodities are going to have to rise in value as we are in short supply and we are printing too much money.

Free demo account for forex and CFD trading
Peter Schiff
Stock broker, financial commentator, CEO of Euro Pacific Capital Inc.