9 brokers compared · 2026

The best forex demo accounts in 2026

A forex demo account lets you trade live prices with virtual money, so you can learn a platform and test a strategy before you risk anything. Demo accounts are free at every broker on this page. The best ones run on the same platform and pricing as the live account you would open next. Rules differ between brokers, and some demos expire after a set period, so check the terms when you sign up.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01IGPractise on the IG web platform and app, then move to a top-tier regulated live account.
02PepperstoneDemo on MT4, MT5, cTrader or TradingView with the same pricing as the live accounts.
03OANDAPractise with OANDA, then go live with no minimum deposit, in the US and abroad.
04XMTry MT4 or MT5, then open a live account from a $5 deposit.
05IC MarketsTest scalping strategies and expert advisors on MT4, MT5, cTrader or TradingView.
06FOREX.comDemo on the FOREX.com platform, MT4, MT5 or TradingView, including for US traders.
07eToroPractise with a virtual portfolio on eToro’s simple app, including CopyTrader.
08Charles SchwabpaperMoney on thinkorswim for US traders.
09XTBLearn the xStation 5 platform before opening a live account with no minimum deposit.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	IGTraders who want the biggest market range and top-tier safety	4.8	0.9pips	n/a	$0	FCAASICBaFin+5	MT4TradingView	Visit Review
02	PepperstoneActive traders who want tier-1 regulation and raw pricing	4.6	1.1pips	$8all-in	$0	ASICFCACySEC+4	MT4MT5cTraderTradingView	Visit Review
03	OANDAUS beginners and API traders	4.3	1.4pips	$6all-in	$0	CFTCNFAFCA+4	MT4TradingView	Visit Review
04	XMBeginners funding a small first account	4.1	1.6pips	$8all-in	$5	CySECASICDFSA+2	MT4MT5	Visit Review
05	IC MarketsScalpers and algo traders who want raw spreads	4.4	0.8pips	$8all-in	$200	ASICCySECFSA (Seychelles)+1	MT4MT5cTraderTradingView	Visit Review
06	FOREX.comUS traders who want MT4/MT5 and strong research	4.5	1.4pips	$7all-in	$100	CFTCNFAFCA+4	MT4MT5TradingView	Visit Review
07	eToroCopy trading and social investing	4.2	1.0pips	n/a	$50	FCACySECASIC+2	Own platform	Visit Review
08	Charles SchwabExisting Schwab clients and thinkorswim fans	4.5	1.2pips	n/a	$0	SECFINRACFTC+1	Own platform	Visit Review
09	XTBEuropean beginners who want a polished platform	4.5	0.9pips	n/a	$0	KNFFCACySEC+3	Own platform	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

IG

Practise on the IG web platform and app, then move to a top-tier regulated live account.

4.8/5

IG is the world’s largest CFD provider by revenue and one of the safest brokers you can choose. It offers 80+ forex pairs and more than 17,000 markets overall, with excellent platforms, research and education.

Pros

FTSE 250 listed, 50 years in business
Huge range of 17,000+ markets
Tight EUR/USD spreads from about 0.6 pips

Cons

MT5 and cTrader are not offered
Some fees on share CFDs and data subscriptions

EUR/USD: 0.9 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: FCAASICBaFinMAS+4
Platforms: IG Web, IG App, MT4, ProRealTime

Pepperstone

Demo on MT4, MT5, cTrader or TradingView with the same pricing as the live accounts.

4.6/5

Pepperstone matches IC Markets on cost while offering stronger tier-1 regulation, including the FCA and BaFin. Its Razor account delivers raw spreads with a low commission across MT4, MT5, cTrader and TradingView, and there is no minimum deposit.

Pros

Razor account with raw spreads and $7 round-turn commission
FCA, ASIC, CySEC and BaFin regulation
MT4, MT5, cTrader and TradingView

Cons

Product range is narrower than IG or Saxo
Not available to US residents

EUR/USD: 1.1 pips
Raw / lot: $8.0
Min. deposit: $0
Regulators: ASICFCACySECBaFin+3
Platforms: MT4, MT5, cTrader, TradingView

OANDA

Practise with OANDA, then go live with no minimum deposit, in the US and abroad.

4.3/5

OANDA was one of the first online forex brokers and is still one of the most trusted in the US. There is no minimum deposit, trade sizes start at a single unit, and its REST API, TradingView integration and MT4 support appeal to both beginners and systematic traders.

Pros

No minimum deposit and flexible position sizing
Long track record and multiple tier-1 licences
Popular REST API for automated trading

Cons

Standard spreads are average for US brokers
Smaller pair selection than FOREX.com or tastyfx

EUR/USD: 1.4 pips
Raw / lot: $6.0
Min. deposit: $0
Regulators: CFTCNFAFCAASIC+3
Platforms: OANDA Web, OANDA App, MT4, TradingView

XM

Try MT4 or MT5, then open a live account from a $5 deposit.

4.1/5

XM is one of the most popular forex brokers worldwide, especially in Asia, Africa and Latin America. A $5 minimum deposit, micro lots, frequent webinars and a well-built mobile app make it beginner-friendly, while the XM Zero account offers raw pricing for more active traders.

Pros

Very low $5 minimum deposit and micro accounts
Excellent free education, webinars and daily analysis
MT4 and MT5 on every account type

Cons

Standard account spreads are wider than raw-spread rivals
No cTrader or native TradingView trading

EUR/USD: 1.6 pips
Raw / lot: $8.0
Min. deposit: $5
Regulators: CySECASICDFSAFSCA+1
Platforms: MT4, MT5, XM App

IC Markets

Test scalping strategies and expert advisors on MT4, MT5, cTrader or TradingView.

4.4/5

IC Markets is one of the largest true-ECN style brokers by forex volume. Its Raw Spread account pairs near-zero EUR/USD spreads with a flat commission, and it supports MT4, MT5, cTrader and TradingView, which makes it a default choice for scalpers, EA users and high-volume day traders.

Pros

Raw spreads averaging around 0.1 pips on EUR/USD
MT4, MT5, cTrader and TradingView all supported
Fast execution suited to scalping and expert advisors

Cons

$200 minimum deposit is higher than XM or Exness
Limited in-house research and education

EUR/USD: 0.8 pips
Raw / lot: $8.0
Min. deposit: $200
Regulators: ASICCySECFSA (Seychelles)SCB (Bahamas)
Platforms: MT4, MT5, cTrader, TradingView

FOREX.com

Demo on the FOREX.com platform, MT4, MT5 or TradingView, including for US traders.

4.5/5

FOREX.com is owned by NASDAQ-listed StoneX and is one of the largest forex brokers in the United States. It offers 80+ currency pairs on its own platform, MT4, MT5, TradingView and NinjaTrader, with both spread-only and commission-based RAW pricing.

Pros

Owned by StoneX, a NASDAQ-listed financial services group
Wide platform choice including MT5 and TradingView
RAW pricing account for active traders

Cons

Standard account spreads are average
Forex only for US clients

EUR/USD: 1.4 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: CFTCNFAFCACIRO+3
Platforms: FOREX.com Web, FOREX.com App, MT4, MT5

eToro

Practise with a virtual portfolio on eToro’s simple app, including CopyTrader.

4.2/5

eToro is the best-known social trading platform. Its CopyTrader feature lets you automatically mirror other investors, and one account covers stocks, ETFs, crypto and CFDs on forex. Forex spreads are higher than specialists, and there is no MetaTrader.

Pros

Market-leading copy trading
Very easy to use for beginners
Stocks, ETFs, crypto and forex in one account

Cons

Forex spreads are wider than ECN brokers
$5 withdrawal fee and currency conversion fees

EUR/USD: 1.0 pips
Raw / lot: n/a
Min. deposit: $50
Regulators: FCACySECASICFSRA (ADGM)+1
Platforms: eToro Web, eToro App

Charles Schwab

paperMoney on thinkorswim for US traders.

4.5/5

Charles Schwab offers spot forex through the award-winning thinkorswim platform, inherited from TD Ameritrade. It is ideal if you already invest with Schwab and want to add currency trading without opening another account, though spreads are wider than forex specialists.

Pros

thinkorswim is one of the best charting platforms available
One login for stocks, options, futures and forex
Exceptional research and education

Cons

Wider spreads than tastyfx or Interactive Brokers
Forex requires a margin account and separate approval

EUR/USD: 1.2 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: SECFINRACFTCNFA
Platforms: thinkorswim Desktop, thinkorswim Web, thinkorswim Mobile

XTB

Learn the xStation 5 platform before opening a live account with no minimum deposit.

4.5/5

XTB is a publicly listed European broker with an excellent in-house platform, xStation 5, no minimum deposit and strong education. Forex spreads are competitive and commission-free on the Standard account.

Pros

Listed on the Warsaw Stock Exchange
xStation 5 is fast and intuitive
No minimum deposit

Cons

No MetaTrader since 2024
Not available in the US

EUR/USD: 0.9 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: KNFFCACySECDFSA+2
Platforms: xStation 5, XTB App

How we chose these brokers

Same as live: The demo uses the platform, spreads and execution of the live account you would open.
Platforms: Demo access on MT4, MT5, cTrader, TradingView or the broker’s own app.
Easy upgrade: A clear path to a live account with a low or no minimum deposit.
Regulation: The live account behind the demo is covered by a tier-1 regulator.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

Is a forex demo account free?

Yes. Demo accounts are free and use virtual money, so you cannot lose real funds. Some expire after a period of inactivity; the broker can usually reset or reopen them.

How long should I trade on a demo account?

Until you can follow a written plan consistently, size every position correctly and understand the platform. Many traders practise for at least a few weeks before going live, then start with a small live account.

Is demo trading the same as live trading?

Not quite. Demo fills can be faster than live fills, there is no slippage on some demos, and trading virtual money removes the emotional pressure of real losses. Treat demo results as a best case.

Which broker has the best demo account for beginners?

IG, OANDA and eToro have the most beginner-friendly platforms to practise on. If you plan to use MetaTrader, a Pepperstone, XM or IC Markets demo lets you learn MT4 or MT5 directly.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.