Best Forex Demo Accounts for 2025

Written by Steven Hatzakis
Edited by Jeff Anberg
Fact-checked by Joey Shadeck

November 28, 2025

Steven Hatzakis

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.

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Steven Hatzakis has been reviewing forex brokers for nearly ten years and has 25+ years of experience as a forex trader. His broker reviews are unbiased and independent, and his expertise is sought after for global FX conferences and speaking events around the world. Learn how we test.

Opening a free forex demo account, commonly known as paper trading, is a convenient and safe way to test trading software without risking real money in a live account.

In this guide, I’ll share my favorite demo account offerings from the top forex brokers; these demo accounts will let you try out some of the best trading platforms on the market before taking the plunge into trading forex with real money.

Which forex brokers can I open an account with?

Select your country of residency below to see which regulated forex brokers will accept you as a new customer for trading forex.

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Company	Average spread (EUR/USD) - Standard account	Minimum Deposit	Overall Rating
IG	0.91 info	£250.00
Interactive Brokers	0.59 info	$0
Saxo	1.0 info	$0
CMC Markets	1.3 info	$0
FOREX.com	1.00 info	$100
Charles Schwab	1.27 info	$0
XTB	0.92 info	$0 info

Best forex brokers for demo accounts

The following highly rated forex brokers offer demo accounts, also called paper trading, that allow you to test out their trading platforms without risking any of your real money. Here are my picks for the best forex demo accounts:

Overall Score

5.0/5

Top broker for demo accounts

Minimum Deposit: £250.00
Trust Score: 99
Tradeable Symbols (Total): 19537

Why we like it

Review

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets. Read full review

Pros

Outstanding platforms and tools
Over 19,000 tradeable instruments
Competitive pricing

Cons

No predefined layouts on the flagship web platform
Limited product range on MT4

Overall Score

5.0/5

Best demo account for experienced traders

Minimum Deposit: $0
Trust Score: 99
Tradeable Symbols (Total): 8500

Why we like it

Review

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite. Read full review

Pros

Robust platform for professional traders
Wide range of global markets
Thorough research offering

Cons

Trader Workstation platform is likely too complicated for inexperienced traders

Overall Score

5.0/5

Award-winning platform suite

Minimum Deposit: $0
Trust Score: 99
Tradeable Symbols (Total): 71000

Why we like it

Review

Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities. Read full review

Pros

Flagship platform is top of the line
Over 40,000 tradeable instruments
Excellent customer service

Cons

High minimum deposit

Overall Score

5.0/5

Standout charting features

Minimum Deposit: $0
Trust Score: 99
Tradeable Symbols (Total): 12029

Why we like it

Review

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments. Read full review

Pros

Low trading costs
Excellent web and mobile platforms
Robust research materials

Cons

Educational offering could be improved

Overall Score

5.0/5

Real-time pricing and MT5 demo

Minimum Deposit: $100
Trust Score: 99
Tradeable Symbols (Total): 5500 info

Why we like it

Review

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader. Read full review

Pros

Multiple high-quality platforms
Excellent market research
Wide range of markets

Cons

Only about 600 instruments are available on the MT5 platform, compared to over 4,500 on non-MetaTrader platforms

Overall Score

5.0/5

Virtual trading environment built into thinkorswim

Minimum Deposit: $0
Trust Score: 99
Tradeable Symbols (Total): 40000

Why we like it

Review

Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim. Read full review

Pros

Outstanding platform in thinkorswim
Thorough research offerings
Excellent educational materials

Cons

Does not offer copy trading
Forex pricing is slightly higher than industry average

Overall Score

5.0/5

Well-balanced offering

Minimum Deposit: $0 info
Trust Score: 96
Tradeable Symbols (Total): 7184 info

Why we like it

Review

As a trusted multi-asset broker, XTB offers outstanding customer service, a wide variety of forex and CFDs, and an excellent overall trading experience. Its xStation 5 trading platform is well-designed and packed with innovative features, and XTB’s offers comprehensive educational content and market research. Read full review

Pros

xStation 5 platform is an industry standout
Robust selection of trading tools
Excellent customer service

Cons

Pricing is just average

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top picks for demo accounts

Best Broker for Demo Accounts - IG

Company	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account	Virtual Trading (Demo)
IG		£250.00	0.91 info	Yes

IG is my top pick for brokers that offer forex demo accounts in 2025. In addition to offering demo trading accounts with access to its versatile trading platforms, I’ve found from years of testing IG’s offerings that it delivers stellar research, excellent educational content, one of the best forex trading apps, and a wide range of available markets.

Opening a demo account with IG also includes access to their IG Academy, a series of educational courses that helped IG win our 2025 Annual Award for #1 Education. This resource allows you to benefit from the learning experience of simulated trades while also exploring their well-designed online courses covering forex basics.

These offerings put beginner forex traders in a great position to open a live account using real funds once they finish test-driving the platform with a virtual balance. IG’s demo accounts offer access to both their proprietary trading platform (winner of our 2025 Annual Awards for #1 Web Platform and #1 Mobile App) as well as MetaTrader 4 (MT4). Read my full-length IG review to learn more about why I’ve rated IG so highly for so many years.

Best demo account for experienced traders - IBKR

Company	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account	Virtual Trading (Demo)
Interactive Brokers		$0	0.59 info	Yes

Interactive Brokers (IBKR) is another great option for experienced traders seeking a paper trading account for simulated trading. IBKR is a highly trusted multi-asset broker that ranks among the best forex brokers, differentiating itself with a wide offering of investments and a vast number of markets you can access from its platform.

A demo account provides access to these platforms, which includes its powerful charting and extensive software suite (IBKR won our 2024 Annual Award for #1 Platform Technology). The platform comes packed with plenty of research and trading tools that can satisfy even the most demanding traders.

The ability to test run Interactive Brokers’ platform in a simulated environment is a boon to professional traders (IBKR’s desktop platform may be too complicated for inexperienced traders). Read my full-length review of Interactive Brokers to learn more.

Interactive Brokers research Traders Insight daily analysis article detail

Award-winning platforms and tools - Saxo

Company	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account	Virtual Trading (Demo)
Saxo		$0	1.0 info	Yes

Another strong pick on our list of the best brokers for forex demo accounts is Saxo, a well-regulated, highly trusted broker that ranks for many key categories. The broker's impressive SaxoTraderGO and SaxoTraderPRO platform suite helped it snag our 2025 Annual Award for #1 Platforms & Tools.

Saxo provides a great demo account to test these trading platforms, which are available for web, mobile, or desktop. You can also access its charts, trading signals, and versatile order entry tickets. One thing I like about Saxo’s order entry ticket is the ability to switch instrument types, such as when trading forex as either a spot or an option.

Live account minimum deposits were also recently lowered for its entry-level classic account, making it easy to transition from a demo account to a live account after you learn the trading software. Saxo provides outstanding research content, high-quality educational materials, and access to a substantial range of global markets. Read my full-length Saxo review to learn more.

SaxoTraderGO web platform US election geopolitical market event theme.

Saxo's research daily articles forex market analysis

FAQs

What is a demo or paper trading account?

A paper trading account, also known as a demo account, simulator, or virtual practice account, is like a free trial to using a broker’s trading platform for investing or trading in the financial markets. Frequently these test accounts are funded with a free allotment of fake currency to test out the software by making simulated trades. Once you have familiarized yourself with the trading platform in demo mode, you can decide whether you want to open a live version of the trading platform by funding a real account.

What are the advantages of forex demo accounts?

Learning to trade

While any gains or losses generated in a demo trading account shouldn’t be used as an indication of how well you’ll trade with real money, a demo account is still a good way to get started and learn some trading basics or troubleshoot an automated trading script.

I want to emphasize that the results you see in your demo account can vary greatly from results achieved in a live account. For this reason, paper trading accounts are best used to learn how to use the software effectively. Those attempting to test an actual trading strategy are better off using a live account with a small amount of risk capital to provide more realistic results.

schoolLearn more about forex trading

Want to learn more about the fundamentals of forex trading? Check out my in-depth, Forex 101 educational series covering everything you’ll need to know about forex and currency trading. I dive into the ins and outs of leverage, explain how pips work, and more.

Backtesting strategies

Some demo accounts allow you to backtest an automated trading system, such as when using an automated trading strategy with forex trading platforms like MetaTrader or TradingView.

It is important to note that just because a trading strategy performs well within the backtesting environment of a demo account does not mean it will perform well when applied to a live trading environment.

I highly recommend instead testing any live trading strategies with a small amount of real funds to ensure the performance meets your expectations before scaling your investment capital higher.

MetaTrader 5 MT5 desktop platform strategy tester start page.

MetaTrader 5 MT5 desktop platform strategy tester results.

MetaTrader 5 MT5 desktop platform strategy tester.

Testing different signals and tools

Another benefit of using a demo account is that you can access the features available within the platform before using them with real funds in a live account.

For example, if a broker offers forex trading signals within the demo platform, you can test using them by replicating the trade or copying the signal in the demo account.

Be aware that some brokers may restrict access to certain premium features unless you have a live account already. Regardless, a free demo account can be a great way to preview any available features within the software that you want to explore without taking any risk.

Additional advantages

A demo account can complement your learning experience while consuming free educational content from a broker. It can serve as an essential tool while taking a free forex trading course or reading educational articles as it allows you to put some of the theory into practice.

Even for more experienced traders, demo accounts can be useful to reveal possible pain points or troubleshoot errors with your algo trading strategy that you can attempt to redress with assistance from the broker before funding your account with real money.

Is it free to open a demo account to trade forex?

Yes, it is free to open a demo account for forex trading. There may be some differences between brokers where some will allow you to open a free demo account independent of their live ecosystem, by providing only a name and e-mail, while others might require that you first open a live account. Additionally, some brokers may only offer trial periods for their paper trading accounts.

What is the best forex broker offering a demo account?

IG is our number one overall forex broker for 2025, and my top pick for simulated trading as it offers a robust demo account from within its client portal where you can see all of your simulated accounts across its various available account types, including forex, CFDs, options, spread betting, and share trading. The IG demo provides access to their web platform as well as the mobile app, using the same demo username and password across the board. They also offer a separate MetaTrader 4-focused demo account (read our MetaTrader 4 guide here).

IG trading mobile app pattern recognition signals

Are forex demo accounts accurate?

Yes, forex demo accounts are an accurate representation of how the broker’s trading platform technology works. While simulated prices may not be completely aligned with real-time market prices, the simulation is sufficient to replicate the general experience even if it can’t be relied upon to predict how well you’ll succeed with live trades. I recommend using demo accounts solely to learn or troubleshoot the software before using a live account. There are far too many real-world variables like order rejection or slippage that don’t appear in simulated trades. It’s important to keep in mind that your trading performance in a demo account is entirely hypothetical and your trading strategy will often be different when risking actual money. Real-world trading strategies should always be tested live with a small amount of capital that you are willing to lose.

Our testing

Why you should trust us

Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.

How we tested

At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:

For Apple, we use MacBook Pro laptops running macOS 15.3, and the iPhone XS running iOS 18.3.
For Android, we use the Samsung Galaxy S20 and Samsung Galaxy S23 Ultra devices running Android OS 15.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.

star_rate ForexBrokers.com Overall Rankings

Now that you've seen our picks for the best brokers on this guide, check out ForexBrokers.com's overall broker rankings. We've evaluated over 60 forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Also take a look at our full-length, in-depth forex broker reviews.

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There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

About the Editorial Team

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Jeff Anberg is a Senior Editor at ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.