Best Forex Demo Accounts (2020) | The Ultimate Guide for Regulated Forex Brokers Account

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Forex demo accounts provide traders with an invaluable opportunity to test new investment strategies, implement unorthodox trading approaches along with learning how to better utilize an investment platform without the risk involved in live trading.

Not only is this an immeasurable advantage for day traders of all experience levels but it also provides brokerages with an ability to better earn prospective long-term trader’s trust while cultivating a long-term business relationship with your broker.

Throughout the course of this guide you will discover the following:

  • What To Look For With Forex Demo Accounts
  • Where To Find The Best Forex Demo Accounts
  • Online Trading Systems To Test With Demo Accounts
  • Self-Questions To Ask Yourself Before Trading Forex Live

Forex Demo Accounts – What To Look For

It is important to understand that each forex trading platform is different.

Not all forex brokerages offer demo accounts nor the advantages, tools, and resources that are typically accompanied by such an investment vessel.

Some forex platforms implement a proprietary trading platform that is unique to that broker however many online forex trading brokers support both the MetaTrader4 (MT4) and MetaTrader5 (MT5) platform.

When it comes to finding a reputable forex demo account, it is imperative that you only consider signing up with regulated brokers.

While these underlying differences between forex brokerages may vary greatly, most tend to provide relatively the same features as one another such as:

  • Forex Quotes
  • Live News Feed
  • Real-Time Charts
  • Complete Trade History
  • Technical Analysis Tools
  • Drawing Tools (For Charting/Strategies)
  • Mechanism Used For Buying/Selling Currencies

One common mistake that new traders tend to make when it comes to finding forex demo accounts to test would be to use demo accounts with unregulated brokers.

Why is this?

Simple, you wouldn’t want to become familiar with the functionality of a specific trading platform if you don’t have any intentions of investing with that platform.

** Note: You should have NO INTENTION of investing with an unregulated forex broker, it may be against your government’s jurisdiction and you are doing yourself a serious disservice but not investing with a regulated brokerage. **

Now, to get us wrong, you can do that but there really isn’t a logical explanation as to why you would when the forex industry offers plenty of regulated and trustworthy brokers as it is.

Forex Demo Accounts – Where To Find The Best

Finding the best forex demo accounts will come down to where you reside.

Given that regulation is heavily enforced and for your protection as an investor, it makes sense to only consider regulated forex brokers that fall in the line with your governing jurisdiction.

Below are 5 Industry-Leading Regulated FX Brokers To Consider:

Forex.com

Regulated By: ASIC, CySEC & MAS

Regulated For: USA, UK, Australia, Japan, Canada, Cayman Islands, Hong Kong, and Singapore

Supported Assets: Forex, Indices, Commodities, Cryptocurrencies, Bonds, and ETFs

3 Core Features: Industry-Leading FX Broker, 180+ Global markets, and Unparalleled Customer Support

Forex-demo
Get a FREE Demo Account With Forex.com Today!

AVATrade

Regulated By: CySEC & SFC

Regulated For: Ireland, Australia, Japan, British Virgin Islands, Europe, and South Africa

Supported Assets: Forex, CFDs, Commodities, Cryptocurrencies, Bonds, and ETFs

Core Features: 200+ instruments to trade, mobile + desktop + tablet + web-based trading with AvaTrader & MetaTrader4, and fixed/flexible spread accounts

AvaTrade-demo
Get a FREE Demo Account With AvaTrade Today!

CMTrading

Regulated By: FSCA

Regulated For: South Africa

Supported Assets: Stocks, Commodities, CFD, and Cryptocurrencies

3 Core Features: 140+ investable assets, mobile + desktop + web-based supported trading, and supports forex trading robots and EA (Expert Advisors)

CMTrading-demo
Get a FREE Demo Account With CMTrading Today!

NSBroker

Regulated By: MFSA, FCA, BaFin, AMF & CONSOB

Regulated For: Non-US, Non-Canada and Non-Japan

Supported Assets: Forex, Futures, Indexes, and Cryptocurrencies

3 Core Features: Industry-Low Spreads, Mobile Trading Compatible, and Zero Commission

NSBroker-demo
Get a FREE Demo Account With NSBroker Today!

HotForex

Regulated By: CySec

Regulated For: Europe and St. Vincent

Supported Assets: Forex, CDFs, Indices, Commodities, Cryptocurrencies, Bonds, and ETFs

3 Core Features: Multiple trading bonuses, EAs + Scalping + Hedging supports, and winner of 18 Industry Awards

HotForex-demo
Get a FREE Demo Account With HotForex Today!

Forex Demo Accounts – Strategies & Trading Systems That Work

Now that you have a better foundation upon which to find free demo accounts with regulated brokerages where you reside it is a perfect opportunity to test various online trading systems, forex trading robots, investment strategies, and custom trading approaches.

Each of the brokerages above allows you to have a free demo account and it is paramount that you practice on their demo platform first (unless you are a seasoned investor) so that way you are familiar with the trading setups and mechanisms used for trade entry, trade exits, stop losses, take profits, and other trading applications.

If you are unsure where you can find online trading ideas, investment strategies or forex trading systems that actually work you can browse these various opportunities:

Weekly Forex Trading Forecast

If you are new to forex trading and would like to benefit from the free financial services offered by Vladimir Ribakov (Internationally Certified Financial Technician + Professional Forex Trader of 13+ Years) then you can Subscribe to Vladimir’s YouTube Channel and catch his weekly forecast trading analysis.

The information and prospective trading setups shared through the investment projections and ideas by Vladimir and Yordan have immeasurable value and have been leveraged by novice and seasoned investors alike for years.

You don’t need a high-calibered trading strategy or extensive forex knowledge to follow the wisdom and apply the insight rendered free of charge, you just need a forex broker account and a modest desire to improve your financial well-being.

Forex Trading Strategies & Webinars

If you are into learning the nitty-gritty of forex trading and you are in it for the long run then you should definitely consider test-driving some of the trading strategies and powerful trading approaches that are broken-down and easy-to-digest on Vladimir Ribakov’s YouTube.

With 49 videos and over 25 hours of documented webinars regarding various forex trading fundamentals, complexities, and trading strategies this Playlist on YouTube videos is the closest thing that you’ll find to a Forex “Holy Grail.”

Forex Webinars Trading Strategies YouTube
Vladimir Ribakov’s Forex Webinars Trading Strategy Playlist (YouTube).

Forex Trading Systems, Robots & Softwares

The demand for powerful, accurate, and consistent forex trading systems and software have been in heavy demand over the past decade.

With automated processes and trading solutions proving more efficient, accurate, and rewarding than many forms of manual investing it is difficult to blame traders for seeking out the best-of-the-best trading systems.

Among one of the best performing forex trading systems available in 2020 would be the sRs Trend Rider Pro.

During the time of composing this publication, the sRs Trend Rider Pro had reflected a success rate of 80.95% from March 1st, 2020 to March 27th, 2020.

These results can be verified through the Performance Page of our Trading Systems.

Additionally, you can learn about other high-powered and accurate trading systems below:

Forex Demo Accounts – Questions To Ask Yourself Before Going Live!

A common rule of thumb to employ before trading with a live forex broker account would be to practice no less than 50 to 100 demo trades.

This way you are familiar with how the trading mechanisms, tools, and features of the brokerage before you potentially risk your funds through improper trading protocols.

Some questions you should consider asking yourself before committing would be:

  1. How do I execute a stop order?
  2. How can I place a limit order?
  3. Am I allowed to set a stop and a limit at the time of trade entry?
  4. Are the supported spreads fixed or variable?
  5. What is the average spread offered?
  6. What are the supported lot sizes I may trade?
  7. Are lot sizes able to be mixed and matched?
  8. Should my Internet connection fail, do I have an alternative form to trade?

If you are unable to answer some of the questions above you should consider learning the answers to those questions before committing your hard-earned money, the last thing you want to do is lose money to simple and easily avoidable mistakes.   

The Bottom Line

When finding the best forex demo accounts make sure you only create demo accounts with brokerages that are regulated for where you reside, therefore, when the time is ripe and comes you’ll be a near-veteran on how to use the platform.

These may seem like remedial recommendations but you’d be surprised to learn how many traders jump the gun too early or lose funds through easily avoided mistakes.

Remember, the purpose of practicing on a demo account is to hone your investment skills, familiarize yourself with the functionality of a forex platform, and test various trading strategies and approaches.

Don’t forget the fundamentals when it comes to trading forex online, they are absolutely essential and are the foundation upon which you construct your forex trading journey.

With that being said, if you need help finding a regulated brokerage where you reside please don’t hesitate to drop us a comment below or shoot us an email at support@vladimirribakov.com and we’ll be more than happy to get you started on the right path.

Thank you for your time and may your forex trading ventures be all your imagined and more.

Tim Lanoue

Guest Blogger

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