Forex Demo Accounts
The idea of fast and effortless enrichment seduces a lot of people, multiplying the popularity of foreign exchange market. People tempted by the promise of profit and forex' advantages do not always care about the risk they have to carry – the lacks of experience and knowledge cause that instead of buying island in Dubai, people cry for their lost savings.
To better prepare people for investing on forex, a lot of agencies allow creating demo accounts which realism represents the conditions of a true market. The demo accounts do not demand investing real money – that’s a trial without any risk.
The list below represents an overview of the most popular and the best providers of the Forex Demo Accounts.
eToro
www.eToro.com
eToro is a company registered in 2006, on Cyprus, offering free practice accounts, the all-time personal account manager and all the services (forums, manuals, newsletter and also phone and chat) that might be useful for becoming an experienced forex trader. eToro singles out of the rest because of its simple, clear and fast platform and very low minimum deposit ($50) and up to 1:400 leverages
AVA FX
www.avafx.com
The Ava FX (since 2006, Virgin Islands) concentrates mostly on new, private investors and their training, not only large institutions, allowing them to open a free $100,000 account. AVA supports its users with 24-hour helpdesk, forums and manuals. Offers two trading platforms: AVA Trader by AVA FX and Meta Trader by Meta Quotes. The minimum deposit is $100 and flexible leverage up to 1:200.
Advanced Currency Markets
www.ac-markets.com
Advanced currency Markets (ACM) is a currency trading company based in Geneva, Switzerland with offices in Asia and USA. ACM offers a 30-day free demo account. A mini size demo account is not available but you can customize the size of your regular account. With your one practice account you can access four trading platforms. You can select from Advanced Trader (offers high performances and extra stability), Advanced Web Trader (protects your data behind company's firewall and is compatible with Mac web browsers), Advanced Flash Trader (extremely flexible with top range technical features) or Advanced Mobile Trader ( Wap or iPhone dedicated version). With ACM you can trade 27 currency pairs and Spot Gold & Silver, and also benefit from real-time position monitoring, full reporting, real-time charts and news, analysis reports, and economic calendar for free.
Alpari US
www.alpari-us.com
The Alpari (US) was registered in 2006 in the United States. The company offers extremely high standards of customers’ service, providing the whole needed support. The minimum deposit is only $1 and 1:100 leverage. Alpari US (in opposite to Alpari UK!) offers three types of free demo accounts: MetaTrader 4 (the standard account), Alpari Direct (offering newer – powered by Currenex - technology and tools enabling higher volumes trading, faster speed, and competitive pricing) and Alpari Direct Pro (dedicated to money managers and institutional traders – higher volumes, fast execution speeds and specialized order management).
Citibank
www.CitiFXpro.com
The Citibank is widely known for its banking services, but it is also active on the forex trading market offering accounts on CitiFX pro platform. The demo account is costless but enables all the services accessible for the real accounts. In addition, a user has a possibility to trade not only through the downloadable tool, but also through the website or mobile. Citibank provides phone support.
CMS Forex
www.cmsfx.com
CMS Forex is a professional Forex broker based in New York and founded in 1999. With this broker you can open a free Forex demo account without any time or size limitations. CMS Forex provides its demo users with fully functional advanced VT Trader 2.0 platform. The platform offers a real-time, chart-based currency trading and allows you to customize its interface to meet your personal needs. It is really easy to use and intuitive enough to be helpful for beginners. As a demo user you also have access to over 100 Technical Indicators, Dow Jones News and fast price feeds.
DBFX Deutsche Bank
www.DBFX.com
Deutsche Bank became one of the world’s leaders and a major participant in forex. Company founded in 1960 in Frankfurt am Main, expanded its range, recently having offices in 73 countries. Euromoney marked Deutsche Bank No. 1 Foreign Exchange House in the World in 2005, 2006 and 2007. The company offers dbFX Trading Platform with minimum deposit of $5,000. The demo accounts, enabled for free, allow to start with virtual $50,000, depending on the real market conditions and the whole bank’s research with live streaming price quotes and charts. The trial lasts for 60 days, after which the account automatically expires.
Forex Capital Markets
www.FXCM.com
Forex Capital market is a Forex trading company based in New York, USA, and regulated in the United States, Australia, Canada, the United Kingdom, and Hong Kong. With Forex Capital Markets you will receive a 30 days free Forex demo account with up to $50,000 in practice money. The practice account truly stimulates real Forex market and allows you to buy and sell currencies with live prices, access free real-time charts, streaming news and live 24/7 support. Before you start the demonstration account you can watch free video introduction to FCM trading platform. The video clearly explains the way the platform works and provides information on fees and charges.
Forex.com
www.Forex.com
Forex.com is a company based in New York, a member of National Futures Association. With Forex.com Forex demo account you can test your strategies under real market conditions with no risk and free of charge for 30 days. You are not obliged to start a live account. You can start a mini demo account with $250 or a regular size account with minimum $2,500 and up to $50,000.
As a demo account user you are given a free access to ForexTrader platform and can benefit from real-time executable quotes in 37 currency pairs and spot gold, and powerful charting package for technical analysis. You can also access 24-hour news headlines and up to date currency market research that will help you optimally adjust your operations to current situation on the market.
Forex Club
www.fxclub.com
Forex club is a currency trading company based in New York, USA. It offers a demo account for new users to learn how to trade Forex by making real trades using virtual money. Demo accounts offered by Forex Club are free with no trial period limitation and allow you to trade up to 10,000,000 USD. As a demo user you can access two intuitive trading platforms: Express FX and Classic FX. The first one provides the users with simplified interface and is more suitable for beginners but you will be charged 0,4$ commission and 0,15$ rollover charge per every 1000 USD traded. Classic FX is free but is recommended for more advanced Forex traders. Both of the platforms include real-time quotes, charts and news. With your Forex demo account you will receive 10 free interactive on line Forex seminars as well.
MF Global FXA Securities, Ltd.
www.fxasec.com
MF Global FXA Securities, Ltd. is a financial instrument business company based in Tokyo, Japan. It is registered with Japan Securities Dealers Association(JSDA), The Financial Futures Association of Japan(FFAJ) and Japan Investor Protection Fund(JIPF). The company offers a free demo account with a trail period of a month. There is no mini demo account available and a regular size practice account is $20,000.
To start trading virtual money you have to download Chart Trader trading platform for free and apply for a practice account. You will instantly be sent a personal ID and password to your email address. The company also provides free assistance to help you during trading hours and allows you to benefit from their free training materials.
FXDD
www.fxdd.com
FXDD is a 24-hour operating Forex broker based in New York. For new Forex traders the company offers a free demo account for 90 days. You can start a mini-size demo account or a regular account but the size of the account depends on the platform you want to use.
FXDD gives you access to four currency trading platforms: MetaTrader 4, FXDD Trader, FXDD Auto and PowerTrader, and provides you with platform comparison, so you can easily select the right one for you.
The free Forex demo account operates in an environment that truly simulates a real account with full capacity and access to all options available with real account.
FX Solutions
www.fxsolutions.com
FX Solutions is a foreign currency trading company founded in 2001. FX Solutions is regulated as a Forex Dealer Member by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association. You can start your Forex demo account with this company for 30 days and select the amount of virtual money that you would like to deposit (from $250 to $10,000). One user name and password will allow you to access three trading platforms; GTS Web, GTS Pro or FX AccuCharts.
The main advantage of the account are automated execution speed and the fact that over 98% of all orders are automatically executed. You can trade currencies with real-time trading prices, set your stops and limits, and select leverage up to 400:1 for Forex and up to 200:1 on CFD. The company offers fixed spreads so you can get in and out of the trade when you want to.
Global Forex Trading
www.gftForex.com
Global Forex Trading (GFT) is a division of Global Futures & Forex, Ltd. founded in 1997 and now serving customers in more than 120 countries. With a GFT Forex demo account, you can speculate on rising and falling markets using free software. You have a choice of a completely customizable GFT’S DealBook® 360 including pricing for over 60 currency pairs, free commentary from industry leaders and experts, and Forex news, or streamlined, and easy-to-use web-based trading platform DealBook® WEB, or DealBook® Mobile suitable for your cell phone, PDA or BlackBerry®. The length of your trial period is variable and you can start either a mini account with $250 or a regular size account with $2,500 minimum. GFT's demo users can gratuitously use trading software in real market conditions, customize their trading platforms and access live customer and technical support.
Interbank FX
www.IBFX.com
The Interbank was registered in 2001, in Salt Lake City. It provides wide forex trading services basing on the Meta Trader platform – specified by $1 minimum deposit and up to 200:1 leverage. The company is known for its ‘no dealing desk’ agency model, trading tools and special customer care that effected in numerous awards – Best Online FX Provider, Best Chairman, Inc 500 and Best Foreign Exchange Broker. The demo account offered by Interbank includes real-time quotes, charts, news, commentary, best support and a free forex education. The account doesn't demand any fees and the time of usage is not restricted (only 20 days of inactivity expire the account).
Keytrade Bank
www.KeyTradePro.com
The Keytrade Bank from Belgium belongs to the Credít Agricole Group – one of the leaders of European banking. The Keytrade – with its full autonomy and tradition – connects the customer care that’s possible to offer only by the small financial companies with the power and strength of one of the largest banking groups. The Keytrade Bank offers free online trading platform (Keytrade Pro) with the free, 20-day trial which includes live trading on streaming prices, always actual market news, economic calendar and the introductory quicktour. The specialists answer questions by the phone. There’s also a newsletter containing useful information.
MG Forex
www.MGForex.com
MG Forex is a part of MG Financial company from New York, since 1992 one of the best known names in the world of finances. The trading platform offered by the company is MG DealStation FX which – regulated by NFA and CFTC – accepts minimum deposit of $50 and leverage up to 100:1. The demo accounts are accessible for free – without the time limit (you just have to log in at least once per three months). The account – beside investing virtual money – do not differ from the paid ones. New users have similar access to technical analysis, charting package and all the support, and – it’s new – free thirty-day access to Dow Jones Newswires live feed.
MIG Investments
www.MIGFX.com
MIG Investments is a regulated Swiss Forex broker founded in 2003. MIG Investments allows you to start a Forex demo account with deposit from $5,000 to $50,000. You will receive a 90-day trail period to access world Forex market with all trading features identical to the live system.
With MIG demo account you can benefit from real-time charts and live prices. You will be offered one of the most competitive spreads on the market while using modern and user-friendly MIG Trading Platform. MIG forex demo account is a good opportunity for non-English speakers because MIG team members speak over 20 languages to supports their customers all over the world.
Murphy and Williams Financial Group
www.mwheadway.com
The Murphy and Williams Financial Group is registered in London and offers a wide range of financial services, especially applying to forex trading. The accounts are based on popular Meta Trader platform with minimum deposit of $1. The demo accounts offered by the Group are completely free. The users of demo accounts get the same features as the real clients. The only difference is limited time – demo account expires after ninety days.
Saxo Bank
www.SaxoBank.com
The Saxo Bank was founded in 1992 in Copenhagen, Denmark (European Bank status since 2001). Offers an own Saxo Trader platform enabling $2,000 of minimum deposit and the 200:1 leverage. The company provides whole support that might be needed – newsletters, online, phone and chat. Saxo Bank offers the free demo accounts workable on three platforms – SaxoWebTrader (through the web-browser), SaxoTrader (downloadable) and SaxoMobileTrader. Every new user starts with $100,000 of virtual money and has a twenty-day period to experience and familiarize with Saxo Bank platforms. The trial allows to check and use all the tools from the paid-accounts, but after twenty days the free account expires.
UFX Bank
www.UFXBank.com
The UFX Bank offers creating a $10,000 free demo account that works basing on ParagonEX Trader platform.