Demo Account is a perfect opportunity for beginner traders to try out the services of the broker in advance without putting their finances at risk. It is often useful for experienced traders for testing their new strategies, as well. In any case, a demo account is something that every Forex trader uses and values. It comes without any costs and is a free way to simulate trading under real market conditions.
However, Demo accounts come with certain restrictions. One of the main drawbacks is the fact that usually, they operate for a limited time or limited funds available. Most of the free demo accounts operate for 14, 21, or 28 days. A Few of them might even offer free demo account for two months. But, it is not common to come across a broker with a Forex demo account no time limit. Lately, as more and more people appeared who decided to enter the realm of Forex the concept of unlimited trading on a demo account came into demand.
Unlimited Forex demo accounts are helpful for those people who otherwise have no time to spend several hours a day learning how to trade Forex. Hence, for many beginner traders, 3 or 4 weeks are not enough to gain enough experience in trading to switch to real trading accounts. But, it can be very difficult to find unlimited demo account alternatives on the market as there is a maximum of few dozen brokers that actually provide them. We will be covering the best Forex brokers who offer free Forex demo account with flexible or no time limit, at all.
Most of the Forex brokers that you will encounter in the list below are the leading brokerage companies worldwide. All of them are regulated by top-tier financial market regulators and operate in multiple jurisdictions. Therefore, you do not need to worry about the accessibility of their services no matter where you live. Moreover, the majority of them have flexible minimum deposit requirements usually starting at 5 US dollars in case you decide to switch to a real trading account with them. Find the complete list of the Forex brokers offering flexible or unlimited demo accounts below.
CySEC, FCA, ASIC
MT4, MT5, WebTrader
CySEC, CBI, FSA, FFAJ, BVI FSC, FSCA, FSRA
MT4, MT5, WebTrader, AvaTradeGO
Swedish FSA, Finansinspektionen
cTrader, MetaTrader 4, MetaTrader 5
SVGFSA, FCA, DFSA, FSCA, FSA
From 30% to 100%
Risk Warning: YOUR CAPITAL MIGHT BE AT RISK
FCA, CySEC, FSA
MT4, MT5, WebTerminal
ASIC, CySEC, FSA, BVI
WebTrader, MT4, TradingView
FCA, CySEC, DIFC, CIMA
WebTrader, MT4, MT5, IRESS
ASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA
MT4, MT5, cTrader, TradingView
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% 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.
Most frequent users of Forex demo accounts are actually beginner traders. Even if you acquire extensive theoretical knowledge in trading currency pairs or other securities, in practice it will look completely different. Moreover, it is not recommended to start trading immediately with real money if you have no practical experience whatsoever. That is why Forex demo accounts for beginners are not only helpful but crucial as well. Demo accounts are found with almost every single Forex broker operating on the market free of charge. However, many of them will usually be strictly limited in time or in funds available.
Demo accounts present numerous advantages and benefits for beginner Forex traders. Below are the most important features of these accounts:
The most popular demo accounts are MetaTrader 4 accounts. MetaTrader 4 is the number one trading platform in the world, especially for trading currency pairs. MT4 was designed to specifically suit the needs and requirements of Forex traders. That is why demo accounts with MT4 accessibility are in high demand. Compared to proprietary platform demo accounts, MetaTrader 4 demo has several advantages.
With MetaTrader 4 demo accounts you get a live version of the original MetaTrader software that you can download and run on your desktop. You will be accessing several trading windows and hundreds of financial markets to choose from. There are no restrictions, therefore, you can trade commodities, currency pairs, indices, or cryptocurrencies on MT4 demo accounts. Furthermore, you will be receiving free add-ons and indicators that come with the real trading accounts. Usually, you will have limited access to the indicators, however, you can use pivot points, order history, and the Renko indicator. Common add-ons that come with the MT4 demo account Forex are mini terminals, stealth orders, and alarm managers. You can use them to customize your trading platform fully.
As we previously mentioned it is very rare to find a broker with an unlimited demo account option. Firstly, it would mean that the customer has a chance to never open a real trading account with a broker and never deposit money since instead he or she can just enjoy demo account services forever. Therefore, many brokers are afraid to miss on profits and that is why they limit their demo accounts. However, some brokers know that all demo traders realize that without opening a real trading account they will never generate any income through trading. Hence, trading using a demo account till the end of your life would simply look like a PC game that you enjoy playing. One of the brokers that decided to provide a Forex demo account no time limit and no funds limit is Plus500.
Plus500 is a famous Forex broker, which is considered to be one of the most reliable brokers. The broker offers unlimited demo account services to all of its clients. New registering users have a chance to open a demo account without time limits or available fund limits. It means that after opening the account will not expire. In case traders run out of money on demo accounts, the broker will automatically re-fill the account balance. As soon as the balance of a trader drops below 200 EUR the system will automatically credit the virtual money to the demo account. The available virtual funds on the demo account Forex of Plus500 is 40,000 EUR. Furthermore, the demo account users will get free educational resources from the broker such as video tutorials and guides on the basics of Forex trading.
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