Best demo account for forex trading – A demo account for forex trading can make life easier for you. It will shorten the learning curve. It allows you to trade with dummy capital. When you lose money in a demo account, it won’t impact your actual capital.
There are a few brokers offering demo account for forex trading. However, the question is, which is the best demo account for forex trading?
We will today not only highlight the top 3 accounts for demo forex trading but also what exactly it is.
What is a forex demo account?
In short, a forex demo account is a practice account. The capital is virtual. You can easily practice social trading on it. Our platform provides you access to hundreds of professional traders to mimic their trading using a demo account. It will help you gauge their effectiveness and profitability.
The market data and the forex demo account are real. Only the capital is virtual. It means that it makes the entire learning process painless for you.
Now that you are aware of the same, let us look at the best demo account for forex trading.
Forex.com is amongst the most reputed forex brokers. It follows the regulation of most of the developed economies in forex trading. It provides demo trading accounts for global traders.
The best thing about this platform is the compatibility with Forex Trader pro and MT4. Both are the industry standard. To simulate real trading, it offers 1:50 leverage for US traders. The duration of the demo account is 30 days. The software allows you to backtest, opt for robo-trading, create or use numerous technical indicators, and follow forex news.
The real simulation trading offered by this platform makes it a perfect choice.
• Compatible with industry-standard software
• Demo account available for global clients
• Complete compatibility with the robot advisors and technical indicators
• Facilitates up to $ 50,000 in the demo account
• You can either use MT4 or Forex Trader pro
Are you a beginner in forex markets?
If yes, the EasyMarkets forex demo account will not disappoint you. It works with MT4 and its software. It offers you $ 10,000 in virtual currency. Moreover, with leverage up to 1:400, you can experience leverage trading.
It has various educational and training resources to make things easy for you. Also, the support team offers multiple channels to help you solve your doubts.
You can cancel the loss-making trades if you use their software. It has a deal cancellation feature. The excellent support and the trading resources on offer sets it apart.
• Compatible with MT4
• Excellent leverage
• Brilliant customer support
• Does not allow US traders
3. PLUS 500:
The USP of PLUS 500 account is that it offers a demo account for an unlimited time. The demo account is free. It also allows you to redeem new capital and virtual currency after the exhaustion of your current one.
It offers you a proprietary trading platform.
The trading platform has indicators and various tools to help you with trading. Eventually, you can switch over to its CFD platform for real forex trading. It offers you $ 20,000 in virtual currency at a time.
If you want to go slow with the learning curve, this demo account for forex trading is sure to grab your attention.
• Reputed broker
• Demo account for unlimited time
• Leverage of 1:30
• Limited educational resources
Finding the best forex demo trading account is not a difficult task. Rather than doing the due diligence, you can follow our guide above. We have only included the top 3 options on our list. Once you choose from this list, you’ll shorten the learning curve and increase your grasp on the forex market.