ECN Demo Accounts

Published on 30/09/2023

Compare ECN demo accounts with balances up to US$ 5 million. Test drive platforms and strategies before trading real money.


4.8 / 5 FP Markets

Trade over 1,000 instruments on flexible leverage up to 1:500 on the MT4/5 and cTrader platforms. FPMarkets.com is a true ECN broker and accepts all trading styles without restrictions.

  • Likes
  • Flexible leverage up to 1:500.
  • Trade over 1,000 financial instruments.
  • Trade on MT4/5 or cTrader without restrictions.
  • Copy trading service is available.
  • Customer support is available 24/7.
  • Dislikes
  • No TradingView integration is available for now.
  • No investor compensation fund in the event of bankruptcy.
Our take on FP Markets

We've traded through this broker's MT5 Raw account and can vouch for its low spreads and reliable trading environment. Its Raw account is designed for day traders and scalpers, and its Standard account will suit all others.

We also like the breadth of instruments available through its platform. You'll find over 70 currency pairs, as well as gold and silver priced in US dollars, euros and Aussie dollars. You can also go long or short on stocks and government bonds through over 40 ETFs.

Its free educational content also sets it apart from the competition. Fund your account to get access to trading signals from Trading Signal and Autochartist. You'll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books.

Read review ▷

How to use your demo account

A demo account is smart way to test a new broker. You'll get a feel for the broker's professionalism and turnaround times within days of opening your account.

We suggest opening demo accounts with several brokers and executing identical trades over a number of days to get a read on spreads and/or commissions. Compare them against your current broker and between one another to see who you the best value for money.

Likewise, a demo account is a good way to test a new trading platform. Look out for charting capabilities, ways to customise your experience and manage your risks. Our reviews call out which platform(s) each broker supports. You'll find that most support MetaTrader 4 and 5, and an increasing number support cTrader and TradingView.

What a demo cannot do for you

However, there is one thing that ECN demo accounts cannot emulate: liquidity. Slippage is part and parcel of ECN trading because you rely on other market participants to hit your orders. The greater the number of participants, the deeper the liquidity and the easier it becomes to trade in and out.

To get a view on liquidity, ask your broker about his liquidity providers. The more liquidity providers he works with and the stronger their balance sheet, the stronger the execution. However, that information rarely is publicly available because it's of a commercial nature.

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Author

About the author

I'm Stefan, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.

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