Demo trading accounts are a great way to test a broker’s platform and experiment with trading strategies with virtual money. We have tested, ranked and reviewed what we think are the best demo trading accounts in the UK to help you choose the right broker for testing your trading.
Best Demo Trading Accounts Compared
| Demo Account | Virtual Balance | Demo Length | Demo Markets | GMG Rating | More Info | Risk Warning |
|---|---|---|---|---|---|---|
 | £10,000 | 12 weeks | 13,500 | See Demo | 69% of retail investor accounts lose money when trading CFDs with this provider | |
 | £200-£50k | 60 days | 20 | See Demo | 75.3% of retail investor accounts lose money when trading CFDs with this provider | |
 | £10,000 | No limit | 17,000 | See Demo | 70% of retail investor accounts lose money when trading CFDs and spread bets with this provider. | |
 | £10,000 | No limit | 12,000 | See Demo | 69% of retail investor accounts lose money when trading CFDs with this provider | |
 | $100,000 | 20 days | 1,000+ | See Demo | 65% of retail investor accounts lose money when trading CFDs with this provider | |
 | $1m | No limit | 7,000 | See Demo | 62.5% of retail investor accounts lose money when trading CFDs with this provider | |
 | $100,000 | No limit | 2,976 | See Demo | 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money | |
 | £10,000 | 12 weeks | 13,500 | See Demo | 69% of retail investor accounts lose money when trading CFDs with this provider. | |
 | £100,000 | 30 days | 2,100 | See Demo | 76% of retail investor accounts lose money when trading CFDs with this provider | |
 | £200,000 | 14 days | 3,981 | See Demo | 66.95% of retail investor accounts lose money when trading CFDs with this provider |
Our picks of the Best Demo Trading Accounts Reviewed
❓Methodology: Our experts chose what we think are the best demo trading accounts based on:
- Over 20,000 votes in the coveted Good Money Guide annual awards
- Our own experiences testing the demo accounts with real money
- An in-depth comparison of the features that make them stand out compared to alternative demo trading platforms
- Our exclusive interviews with the demo account company CEOs and senior management
City Index: Best Stock Market Demo Account
🏆Award Winner🏆
- GMG rating: (4.3)
- Customer rating: 3.6/5 (98 reviews)
- Virtual Balance: £10,000
- Length: 12 weeks
- Markets: 13,500
69% of retail investor accounts lose money when trading CFDs with this provider
City Index’s demo account lets you trade for 12 weeks with a virtual balance of £10,000 on all the 13,500 markets that are available on the live trading platform.
Is City Index’s demo trading account any good?
City Index have one of the best demo trading accounts on offer as it is essentially a carbon copy of their live trading platform, which includes trading signals, performance analytics and access to the same broad range of tradable assets.
City Index Review
Name: City Index
Description: City Index is one of the oldest spread betting and CFD brokers based in the UK. They were founded in 1983 and offer trading in over 13,500 financial markets, to around 126,000 active clients. City Index is currently owned by StoneX, a US brokerage listed on the NASDAQ valued at $1.75bn.
69% of retail investor accounts lose money when trading CFDs with this provider
Why we like them:
City Index offers some of the best trading tools and analysis to help traders perform better. Their unique post-trade analytics and voice brokerage service make it an excellent choice for large and frequent traders.
Pros
- Excellent trading tools
- Post-trade analytics
- Publically listed (part of StoneX)
Cons
- Trading only, no investment account
- Limited options markets
- No direct market access
-
Pricing
(4)
-
Market Access
(4.5)
-
Online Platform
(4)
-
Customer Service
(4.5)
-
Research & Analysis
(4.5)
Overall
4.3
Pepperstone: Best MT4 & MT5 Demo Trading Account
- GMG rating: (4.1)
- Customer rating: 4.6/5 (78 reviews)
- Virtual Balance: £200-50k
- Length: 60 days
- Markets: 20
75.3% of retail investor accounts lose money when trading CFDs with this provider
Pepperstone’s demo account gives you a balance of up to £50k to test MT4 for 60 days with access to 20 major forex pairs.
Is Pepperstone’s demo trading account any good?
Pepperstone’s demo account isn’t that great compared to their live trading platform. Yes, you can trial the standard, Razor or spread betting demo, you can also choose how much you want to trade with from £200 to £50,000.
But, you only get access to a handful of forex pairs (no commodities, stocks or indices) and you can’t set your own leverage, something you can do with other MT4 demo accounts.
It’s a real shame, because the live MT4/5 account from Pepperstone is excellent, it has won “best MT4 broker” in our awards many times, but the demo really lets them down. You also don’t get access to any of the indicators, or research that you do with the main account.
Pepperstone Review
Name: Pepperstone
Description: Pepperstone were founded in 2010 in Australia and have since then grown to be a global brokerage with international offices and around 400,000 active clients. They offer spread betting and CFDs on 1,200 major market instruments, which means they focus on the most heavily traded assets, mainly forex and indices trading. Of those 900 are shares on the major stocks on international exchanges.
75.6% of retail investor accounts lose money when trading CFDs with this provider.
Why we like them
Pepperstone is a good choice for traders that want to automate their trading strategies through MT4. As far as MT4 brokers they are one of the biggest and best and offers so good EA packages.
Pros
- Tight pricing
- Wide range of MT4 markets
- Pre-built MT4 indicator packages
Cons
- Limited market access
- Only third-party platforms
-
Pricing
(5)
-
Market Access
(3.5)
-
Online Platform
(4)
-
Customer Service
(4)
-
Research & Analysis
(4)
Overall
4.1
IG: Best Spread Betting Demo Account
- GMG rating: (4.7)
- Customer rating: 3.9/5 (674 reviews)
- Virtual Balance: £10,000
- Length: No limit
- Markets: 17,000
70% of retail investor accounts lose money when trading CFDs and spread bets with this provider.
IG’s demo lets you trade over 17,000 markets with a virtual £10k in a spread betting and CFD account with no expiry.
Is IG’s demo account any good?
IG’s demo account is excellent as it mirrors the pricing and features of its live platform. You get access to a £10k account for both spread betting and CFDs (so £20k in total), which means you can explore the difference in execution and trade order styles. Plus you get access to their news, trading signals and research without having to deposit funds.
IG Review
Name: IG
Description: Founded in 1974 as Investors Gold Index, then IG Index, now just “IG” is one of the world’s largest margin trading brokers. IG offer CFDs, FX and Spread Betting (in the UK) alongside share trading and prime brokerage to over 313,000 active clients and offers 17,000 tradable markets. IG also recently introduced physical share dealing and smart portfolios for longer-term investors.
70% of retail investor accounts lose money when trading CFDs and spread bets with this provider.
Is IG a good trading platform?
Yes, IG provides an excellent all-round trading and investing brokerage service. IG pioneered online trading and financial spread betting for private clients and remains not only one of the largest online trading platforms, but also one of the best. IG stands out through deep liquidity, high market range and excellent added value such as trading tools and analysis.
Pros
- Vast range of markets
- Excellent liquidity & DMA equities
- Listed on the London Stock Exchange
Cons
- Customer service can be slow
- No DMA futures trading
- Still charges inactivity fee
-
Pricing
(4.5)
-
Market Access
(5)
-
Online Platform
(5)
-
Customer Service
(4)
-
Research & Analysis
(5)
Overall
4.7
CMC Markets: Best Forex Trading Demo Account
- GMG rating: (4.6)
- Customer rating: 3.7/5 (146 reviews)
- Virtual Balance: £10,000
- Length: No limit
- Markets: 12,000
74% of retail investor accounts lose money when trading CFDs with this provider
CMC Markets demo lets you trade on over 12,000 markets with a virtual and risk free £10,000 with no time limit.
Is CMC Markets demo trading account any good?
CMC Markets’ demo is about as good as demo accounts can get. It offers all the main functionality of their live trading platform, including the excellent client sentiment tool, that allows you to see what profitable traders are long or short of.
CMC Markets Review
Name: CMC Markets
Description: CMC Markets is one of the original spread betting and CFD brokers based in the UK. They have been providing forex trading services since 1989 and are now listed on the London Stock Exchange. The broker has over 300,000 active clients trading online and is operated from 13 global offices, with headquarters in The City of London.
69% of retail investor accounts lose money when trading CFDs with this provider
Is CMC Markets legit?
Yes, CMC Markets has always offered, and still does one of the best trading platforms for high-frequency and active traders. It’s a good choice for those who want to trade on tight spreads, with a platform built on exceptional tech.
Pros
- Excellent trading platform
- Good liquidity
- Unique sentiment tools
Cons
- Trading only, no investing account
- Limited smaller cap stocks
-
Pricing
(5)
-
Market Access
(4)
-
Online Platform
(5)
-
Customer Service
(4)
-
Research & Analysis
(5)
Overall
4.6
Saxo: Best CFD Demo Trading Account
- GMG rating: (4.6)
- Customer rating: 3.6/5 (72 reviews)
- Virtual Balance: $100,000
- Length: 20 days
- Markets: 1,000+
70% of retail investor accounts lose money when trading CFDs with this provider
Saxo’s demo account lets you trade with $100,00 virtual funds on around 1,000 physical stocks, CFDs and forex pairs for 20 days.
Is Saxo’s demo account any good?
Saxo’s demo account is hit-and-miss. The real, live platform is institutional grade with most things, most traders could want. But, the Saxo demo is a bit of a letdown.
It’s great for functionality and getting a glimpse at the look and feel, but the market range is limited. For instance, you cannot trade indices or commodities (as far as I could tell when testing it). Also, when you first open it up you only have access to around 150 stocks, I had to go into the research tab to enable forex and CFDs.
Plus, pricing is delayed (which it also is on the main platform), but it would be better to give potential customers some betting insight into this epic platform, than what is currently on show.
Saxo Review
Name: Saxo
Description: Saxo is one of the largest CFD brokers worldwide and provides direct market access to equities, bonds, forex, futures and options as well as being a major liquidity and infrastructure provider to wealth managers, banks and smaller brokers.
65% of retail investor accounts lose money when trading CFDs with this provider
Is Saxo Markets a good broker?
Yes, Saxo is a good choice for more sophisticated traders. The platform, analysis, and direct market access may be too complicated for beginners. But, for experienced traders its coverage, commissions and research are unrivalled.
Pros
- Direct market access
- Low commissions
- Robust trading platform
Cons
- Seen as a trading platform for professionals
-
Pricing
(4.5)
-
Market Access
(4.5)
-
Online Platform
(5)
-
Customer Service
(4.5)
-
Research & Analysis
(4.5)
Overall
4.6
Interactive Brokers: Best Demo Account For Professional Trading
- GMG rating: (4.6)
- Customer rating: 4.3/5 (869 reviews)
- Virtual Balance: $1m
- Length: No limit
- Markets: 7,000
60% of retail investor accounts lose money when trading CFDs with this provider
Interactive Brokers’ demo account gives you $1m to paper trade with on over 7,000 markets with no time limit.
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.
Interactive Brokers Review
Name: Interactive Brokers
Description: Interactive Brokers is a major US online automated electronic broker company. The financial broker is listed on the Nasdaq Exchange with ticker IBKR. The firm operates in 150 electronic exchanges in 33 countries, and offers trading in 23 currencies. Interactive Brokers has more than 1.75 million institutional and retail customers.
Why we like them
Interactive Brokers is an exceptional trading platform that offers institutional-grade trading capabilities to private clients around the world. IBKR has some of the lowest trading and investing fees and the widest market range in the industry.
Pros
- Very low dealing fees
- Wide market range
- Direct market access
- Complex order types
Cons
- Customer services can be slow
-
Pricing
(5)
-
Market Access
(5)
-
Apps & Platform
(5)
-
Customer Service
(3)
-
Research & Analysis
(5)
Overall
4.6
eToro: Best Demo Trading Account For Small Investors
- GMG rating: (4.1)
- Customer rating: 3.4/5 (273 reviews)
- Virtual Balance: $100,000
- Length: No limit
- Markets: 2,976
51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
eToro’ demo account claims to let you trade with $100k virtual money on nearly 3,000 markets with no time limit.
Is eToro’s demo account any good?
I found it impossible to open a demo account with eToro and place some paper traders, so I can’t tell you if it’s any good I’m afraid. So, not being able to do something as simple as open a demo account when clicking on the button that says demo account, says all I want to say.
eToro Review
Name: eToro
Description: eToro is a social trading platform that lets their users share new and existing CFD positions and their investment portfolios. eToro was founded in 2007 in Tel Aviv, Isreal and has grown to offer investing and trading on 3,000 global assets (including real cryptocurrencies) to 30 millions users worldwide.
51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Is eToro a good broker?
Yes, eToro does have its flaws for experienced investors, but if you are just getting started eToro is a great introduction to financial markets. eToro is actually a very innovative trading platform offering copy trading, social networking and unleveraged CFDs.
Pros
- Really simple to use
- Social and copy-trading
- Set your own leverage
- Pre-built sector portfolios
Cons
- Can only trade and invest in USD
- No SIPPs or ISA
- No direct market access
-
Pricing
(4)
-
Market Access
(4)
-
Online Platform
(4.5)
-
Customer Service
(4)
-
Research & Analysis
(4)
Overall
4.1Forex.com: Best Demo Account For Currency Trading
- GMG rating: (4.2)
- Virtual Balance: £10,000
- Length: 12 weeks
- Markets: 13,500
69% of retail investor accounts lose money when trading CFDs with this provider.
Forex.com’s demo account lets you trade with £10,000 in virtual funds on over 13,500 markets for 12 weeks.
Is the forex.com demo account any good?
If you are a budding forex trader and looking for somewhere to paper trade, then forex.com’s demo account is a good place to start. You get the same forex trading signals, post trade analytics and market access as you do with the live platform.
Forex.com Review
Name: Forex.com
Description: Forex.com is one of the largest forex brokers operating globally and owned by NASDAQ listed institutional broker StoneX. Forex.com offers traders access to 5,500+ assets including 80+ currency pairs, thousands of stocks, popular commodities, indices and cryptocurrencies (pro accounts only in the UK). Pricing is competitive especially for those on their RAW spread account or active trader program.
69% of retail investor accounts lose money when trading CFDs with this provider.
Why we like Forex.com:
If you are a forex trader, then Forex.com’s trading signals, platform and trading performance data make it one of the best platforms for currency trading.
Pros
- Trading Signals
- Post Trade Analytics
- Forex Specialists
Cons
- Limited Market Range
- No DMA
-
Pricing
(4)
-
Market Access
(3.5)
-
Online Platform
(4.5)
-
Customer Service
(4)
-
Research & Analysis
(5)
Overall
4.2
ThinkMarkets: Best Textbook Paper Trading Platform
- GMG rating: (4)
- Virtual Balance: $200,000
- Length: 14 days
- Markets: 3,981
66.95% of retail investor accounts lose money when trading CFDs with this provider
ThinkMarkets’ demo account gives you £200k in virtual funds for 14 days to trade on nearly 4,000 markets.
Is ThinkMarkets’ demo trading account any good?
I’d say thank ThinkMarkets have an absolutely text book demo account. It’s a simple platform that lets you tap away on the major markets and demonstrates the order execution as well as the look and feel. But they keep the added value, like trading signals reserved for live accounts. So top marks for making it both easy to use and as a gateway to get traders wanting more.
Think Markets Review
Name: Think Markets
Description: ThinkMarkets is a multi-awarded provider of online trading services. Regulated by the Financial Conduct
Authority (FCA), this reputable broker offers spread betting and CFD trading on global financial markets,
such as forex, stocks, indices, commodities, ETFs, and futures.
ThinkMarkets offers traders the flexibility to trade on a wide range of cutting-edge and advanced trading
platforms, including its proprietary trading platform, ThinkTrader.
68.31% of retail investor accounts lose money when trading CFDs with this provider.
Summary
ThinkMarkets is known for its excellent trading conditions. Forex traders benefit most from its ThinkZero account, with spreads as low as 0.0 pips. Its feature-rich platforms also come with superior tools, such as Signal Centre, Traders’ Gym, and TrendRisk Scanner, all designed to support traders with market insights and trading ideas.
Pros
- Wide choice of platforms
- Tight spreads
- Trading signals & analytics
Cons
- No UK shares
- No options trading
-
Pricing
(4)
-
Market Access
(3.5)
-
Online Platform
(4)
-
Customer Service
(4)
-
Research & Analysis
(4.5)
Overall
4
Demo Accounts Versus Trading Live
Before you start trading on a demo account be mindful that you should only use them as a way of exploring a trading platform’s functionality. Trading with real money life is very different from trading with virtual funds in a demo account
Nothing explains this better than this excellent quote from the 1923 book, Reminiscences of a Stock Operator where the protagonist Larry Livingstone is discussing paper trading.
I have heard of people who amuse themselves conducting imaginary operations in the stock market to prove with imaginary dollars how right they are. Sometimes these ghost gamblers make millions. It is very easy to be a plunger that way. It is like the old story of the man who was going to fight a duel the next day.
His second asked him, “Are you a good shot?” “Well,” said the duelist, “I can snap the stem of a wineglass at twenty paces,” and he looked
modest.
“That’s all very well,” said the unimpressed second. “But can you snap the stem of the wineglass while the wineglass is pointing a loaded pistol straight at your heart?”
Demo Trading Account FAQs
A while ago a reader asked us: Are there any no-deposit brokers for CFDs, Forex & or Spread Betting? A no-depost account means one where you can trade the markets without risking any money. The only way to trade the markets without making a deposit is to open a demo account, where you can test a trading platform’s features before committing real funds.
Most brokers offer a demo account where you can trade without depositing funds first. Then yes there are plenty.
However, if you are asking if there are any brokers that allow you to trade the financial markets with no money on account and make real profits the answer is no.
Or indeed, if you are asking if there are any brokers that offer a welcome bonus with no deposit. The answer is again no. Welcome bonuses for CFDs, Forex and Spread Betting are banned by the FCA.
Demo accounts are great if you just want to practice the process of putting trades on, and experiment with stop losses and technical analysis levels.
However, there are lots of brokers that offer demo accounts where you can trade without making a deposit.
- City Index – excellent trading signals and a breakdown of what markets you win and lose when trading (City Index review)
- IG – great allrounder (IG Review)
- CMC Markets – great sentiment tools and technology
- Saxo Capital Markets – for slightly more experienced traders (Saxo Capital Markets Review)
- Spreadex – good for customer service (Spreadex Review)
You can read our reviews of the different products that these brokers offer here:
It is important to note that trading in a simulated environment is very different from trading with real money.
However, odd it may seem, some traders will do well in demo accounts and they lose money in real accounts. The internet is awash with theories that brokers do this deliberately because they are b-booking your trade and profiting from when you lose money.
The reality, however, is that demo traders may be suffering from beginners’ luck, or even adopting a no emotion trading strategy. Not having a strategy is one of the main reasons traders lose money.
The most common mistakes when moving from a demo account to a live account are:
- Not cutting losses
- Not running winning trade
- Overtrading
- Over leveraging
You may also find this article on why most financial spread betting customers lose money useful.
We’ve written a few guides on a demo account trading strategy that may be helpful:
- Top CFD trading strategies
- Three top forex trading strategies that may actually work
- Four spread betting strategies that actually work and some decent brokers to try them with
It’s always worth opening more than one demo account as, whilst all brokers offer access to the same underlying markets that platform can differ dramatically. Although most MT4 brokers offer the same MetaTrader 4 platform they differ quite a lot if a broker has it’s own proprietary financial spread betting, CFD or forex trading platform.
If you are new to trading and looking to experiment with a trading platform here are some top tips to getting started on a trading broker demo account:
- Start small
- Never trade with money you can’t afford to lose
- Trade the products you understand best.
- If you don’t understand what moves a price you’ll have very little chance of making money
The most popular demo market by far is forex trading. You can read our guides to the most traded instruments on trading accounts and CFD, Forex and Spread betting demo accounts here:
You won’t get full access to live prices, research or added value with a demo account. They are generally used to give you an idea of the look and feel of a trading platform. To get the full features you may have to open a live trading account.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
