You can trade on Interactive Brokers with the IBKR demo account. But there are some serious problems with it, but also some excellent features. I’ve tested the Interactive Brokers demo account and compared it to the live version so you can get the most out of their demo account.
Interactive Brokers Demo Account Review
Name: IBKR Paper Trading
Description: Interactive Brokers' demo account gives you $1m to paper trade with on over 7,000 markets with no time limit. 60% of retail investor accounts lose money when trading CFDs with this provider
Is Interactive Brokers demo account any good?
The downloadable IBKR Workstation demo is excellent. The portal version I gave up on fairly quickly. That’s the problem with demo accounts. They only have a few minutes to capture your attention and the easiest one to access through IBKR is also the worst. The web-based portal has very limited functionality and you can only see stocks. If you want to trade indices, forex or commodities you can’t get any pricing. Far better is the downloadable IBKR Workstation, an absolutely epic trading platform that high-frequency trading hedge funds use. If you have the patience to download and install the software, it is probably the best demo trading platform around.
- Workstation is excellent
- Lots of functionality
- Full range of markets
- Portal is very limited
- Hard to navigate
- Have to download software
Research & Analysis
One of the benefits of the Interactive Brokers demo is there is no time limit to how long you can use it. But, on the downside it does not take into account fees when you trade.