Best MT4 Demo Accounts

Compare MT4 demo accounts with up to $100,000 in virtual funds. Open an account online in minutes to get started.

Best brokers

  1. FxProAward Best MetaTrader Broker 2020
  2. AvaTradeAward Best Mobile Trading Platform 2021
  3. HYCMAward Best Forex Broker UAE, 2022
  4. HF MarketsAward Best CFD Trading Conditions, 2021
  5. PepperstoneAward Best Forex Broker Overall - Compareforexbrokers, 2022

Broker reviews

FxPro (FxPro.com) is a global broker, winner of 95+ awards including "Best MetaTrader Broker" in 2020. Trade 250+ instruments across a wide range of asset classes on MT4/5 or cTrader. FxPro accepts all trading styles without restrictions.

  • Risk warning: 84.69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Spread Betting work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
  • Regulators: Bahamas, Cyprus (EU), South Africa, UK

$500
deposit

1:200
leverage

Instant
execution

$500
deposit

1:200
leverage

Market
execution

$50000
deposit

1:200
leverage

Market
execution

AvaTrade (AvaTrade.com) is an award-winning online broker. Trade CFDs on Forex, crypto-currencies, shares, metals and more on MetaTrader 4 or 5. AvaTrade accepts all Expert Advisors except those with a focus on arbitrage.

  • Risk warning: 77.82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, Copy trading
  • Regulated entity (UAE): Ava Trade Middle East Ltd (ADGM No. 190018)

$100
deposit

1:400
leverage

Instant
execution

$100
deposit

1:30
leverage

Instant
execution

$100
deposit

1:400
leverage

Instant
execution

$100
deposit

1:30
leverage

Instant
execution

$100
deposit

1:400
leverage

Instant
execution

HYCM (HYCM.com), formerly HY Markets, is an award-winning regulated online broker. Trade over 300 instruments on fixed or variable spreads over MetaTrader 4 or 5.

  • Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5
  • Regulated entity (UAE): HYCM Capital Markets (DIFC) Limited (No. F000048)

$100
deposit

1:500
leverage

Instant
execution

$100
deposit

1:500
leverage

Instant
execution

$200
deposit

1:500
leverage

Instant
execution

HotForex (HFM.com) is an award-winning Forex and CFD broker, with accounts tailored to new and experienced traders. Trade a wide range of markets including Forex, stocks, indices and commodities through MetaTrader 4 or 5.

  • Markets: Forex (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, Currenex, Copy trading, Mirror trading
  • Regulated entity (UAE): HF Markets (DIFC) Limited (DFSA No. F004885)

$5
deposit

1:1000
leverage

Market
execution

$100
deposit

1:500
leverage

Market
execution

$100
deposit

1:500
leverage

Market
execution

Pepperstone (Pepperstone.com) is an award-winning broker regulated in 7 jurisdictions. Trade over 1,200 instruments on MetaTrader 4, 5 or cTrader. Pepperstone allows all trading styles, with no restrictions, and rewards large traders with volume-based discounts.

  • Risk warning: Between 74% and 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading, Mirror trading
  • Regulated entity (UAE): Pepperstone Financial Services (DIFC) Limited (DFSA No. F004356)

$200
deposit

1:30
leverage

Market
execution

$200
deposit

1:30
leverage

Market
execution

$200
deposit

1:30
leverage

Market
execution

$200
deposit

1:30
leverage

Market
execution

Advantages of a demo account

If you're new to Forex, a demo account will help you learn to trade, without putting your capital at risk. Hone your skills and gain confidence in your abilities in your own time. If you're looking for learning material, check our trading books section for free PDFs that touch on technical analysis, fundamental analysis and trading psychology.

And if you're an experienced trader, a demo account could help you test a new trading strategy with virtual money. However, we'd like to call out that you could use MetaTrader 4's built-in Strategy Tester to assess and optimise Expert Advisors against historical data, without having to open a demo account.

Last but not least, you could use a demo account to test-drive your future broker's platform before making your first deposit. All the brokers featured in this article provide the same features in their demo account, as they do in their real-money account.

Disadvantages of a demo account

Demo accounts are simulations, no matter how closely they aim to replicate live trading conditions. You're unlikely to ever experience price quirks such as gapping or slippage in a demo environment. Yet these often make trading significantly more challenging.

Importantly, a demo account will remove emotions of fear and greed that you'll experience when trading with real money. Yet, these emotions can often get in the way of successful trades, by prompting you to exit loss-making positions early, or chase assets whose price has risen too far, too fast. That's why some traders recommend learning to trade with a real-money account, even if this means trading small sizes initially.


AvaTrade

AvaTrade Account [BVI]

Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and... More

  • $100 deposit
  • 1:400 leverage ?
  • 0.9 pips EUR/USD
  • Regulators: Australia, BVI, Cyprus (EU), Gibraltar, Israel, Japan, South Africa, UAE
Risk warning: 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

HYCM

Raw Account

Trade CFDs on raw spreads from 0.2 pips plus a $4 commission per round, on MetaTrader 4 or 5. This ... More

  • $200 deposit
  • 1:500 leverage ?
  • 0.2 pips EUR/USD
  • Regulators: Cayman Islands, Cyprus (EU), Saint Vincent and the Grenadines, UAE, UK
Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

HotForex

Islamic Account [MT4]

Trade Forex as well as CFDs on shares, indices and metals on floating spreads without commission. ... More

  • $100 deposit
  • 1:500 leverage ?
  • 1.2 pips EUR/USD
  • Regulators: Cyprus (EU), Mauritius, Saint Vincent and the Grenadines, Seychelles, South Africa, UAE