Best Demo Forex Trading App 2023

For this list, we have searched and tested several demo forex trading apps offered by brokers.

We opened real accounts and deposited between $4,000 and $8,000 with each broker. Then we placed real trades in each popular market to get the real spreads. We also contacted the customer support team to solve issues that we had encountered. Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

We handpick the best demo forex trading apps based on our trading data and experience as a trader.

What is Demo Account in Forex?

A Demo (demonstration) Account is a virtual training account that enables prospective traders or investors to try out the user experience of the trading platform and test different trading strategies before opening a Live Account without facing the risks associated with the real market.

Demo accounts became popular with the spread of the high-speed internet at the beginning of the 2000s. Many online brokerage companies began adopting demo accounts to help newcomers and experienced traders alike hone their skills and learn new strategies.

• Demo accounts are popular among traders in forex, stocks, and commodities markets.
• Demo accounts enable traders to test strategies using fake funds and replicating real market offerings. The funds cannot be withdrawn by no means.
• Many educational institutions use trading demo accounts as a means of teaching the basics of investing in stock markets.
• Demo accounts are designed not only for beginners but for professionals as well who want to test new strategies.
• It is crucial to test a demo account before putting in real money, especially when you do not know where to start. However, using a demo account also comes with its drawbacks as a false sense of confidence and a lack of aggression that is present in the real market.

The use of a demo account is typically limited in time; it can be active for 30 or 90 days. However, some brokers offer unlimited demo accounts (like eToro and CMC Market) enabling simultaneous use of Demo and Live account by just switching between these modes.

The choice of the trading app or platform depends solely on each trader’s preference.

Here are some of the pros and cons of a demo account:

	Demo Account	Live Account
Funding	❌	✔️
Withdrawal	❌	✔️
Risk	No	Yes
Account Verification	Not Required	Required
Commissions	$0	Depends on the Broker
Execution Type	Instant	Market

Best Demo Trading App

The majority of forex brokers support both iOS and Android applications with demo accounts. Due to their limited capabilities, trading apps are mainly used as additional monitoring devices for desktop platforms. Read our article about Trading Apps.

To select the best demo trading apps, we have searched and tested several forex brokers offering a demo account. We opened real accounts and deposited money with each broker respectively. We also placed real trades to make sure that the brokers are safe to trade with and trustworthy.

• ActivTrades – Best Demo Forex Trading App for iOS Overall
• IG Markets – Best Demo Forex Trading App for Beginners
• CMC Markets – Best Demo CFD Trading App
• OANDA – Best Demo Crypto Trading App

Best Forex Trading App iOS Overall

We picked ActivTrades as the best demo forex trading app for iOS overall.

Founded in 2001, ActivTrades is a global Forex and CFD broker regulated by the United Kingdom, Luxembourg, and the Bahamas. The broker offers a vast range of tradable instruments in forex, indices, stocks and commodities segments.

ActivTrades offers a risk-free demo account to test-trade best strategies. Traders can trade up to $10,000 virtual funds. The broker platform offerings include industry-standard MT4 and MT5 platforms, as well as the ActivTrader proprietary platform available on iOS. The platform offers exclusive tools and indicators for advanced trading.

Best Forex Demo Trading App for Beginners

We picked IG Markets as the best demo forex trading app for beginners.

IG is one of the industry-leading companies in CFD and Forex markets, with thousands of trading instruments in forex, stocks, indices, commodities, futures, and cryptocurrencies.

When it comes to education, IG has the best offering in the market. Its IG Academy offers a variety of comprehensive educational resources. IG is a MetaTrader broker offering an unlimited demo account that is regarded as one of the best. It offers to practise and test different trading strategies with unlimited virtual cash.

Best CFD Trading App Demo

We chose CMC Markets as the best demo forex Trading app CFD trading.

Operating for over 30 years, CMC Markets offers clients to trade over 10,000 tradable instruments. The broker is publicly-traded which makes it a safe broker to trade with.

The broker is famous for its Next Generation trading platform which opens up many new long-term opportunities. Additionally, the broker offers MetaTrader 4 which is considered industry-standard.

CMC Markets demo account enables to test-trade CFDs on stocks, indices, currency pairs, commodities, and treasures £10,000 of virtual funds. The platform also gives access to advanced charting tools.

Demo Crypto Trading App

We picked OANDA as the best demo forex trading app for cryptocurrency trading.

OANDA, founded in 1996, is a well-known Australian forex and CFD provider with a great variety of trading tools offering to trade in forex, shares, cryptocurrencies, commodities, indices, and metals.

OANDA offers CFD crypto trading with 4 major cryptocurrencies – Bitcoin, Bitcoin Cash, Etherium, and Litecoin – using MT4 and MT5 platforms available on desktop, mobile, and tablets. The broker offers a minimum deposit and a 10% margin.

OANDA offers an unlimited demo account under real market conditions. The broker offers test-trade different strategies like scalping, hedging, or Leverage change to improve your skills before risking your money.

Cryptocurrencies can be traded either on the exchange which requires opening an electronic crypto wallet or on a CFD basis without owning the actual asset but rather speculating on price movements. Most forex brokers offer crypto trading on a CFD basis.

Top Brokers with iOS App List

Apart from the shortlisted brokers, here is a complete list of brokers that offers dedicated demo forex trading apps and platforms, which we have tested and reviewed.

Forex Broker	Demo Account	Test Details	Broker Review
Admiral Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
ActivTrades	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	ActivTrades Review
FXTM	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Capital.com	Yes	Deposit Amount: Over €3,500 Total Trade: 15 trades	Capital.com Review
XTB	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
RoboMarkets (RoboForex)	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	RoboMarkets (RoboForex) Review
FBS	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	FBS Review
ThinkMarkets	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	ThinkMarkets Review
AvaTrade	Yes	Deposit Amount: Over €4,000 Total Trade: 21 trades	AvaTrade Review
CMC Markets	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	CMC Markets Review
Vantage FX	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
Plus500	Yes	Deposit Amount: Over €6,000 Total Trade: 18 trades	Plus500 Review
eToro	Yes	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
Trading 212	Yes	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review
Fortrade	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	Fortrade Review

FAQ and More on Mobile Forex Trading Apps

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to Demo forex trading apps below.

Day Trading Demo App

Day trading is a trading strategy that requires opening and closing positions within the same day. The goal is to earn a small profit to compound those gains over time.

The best demo trading platforms for day trading are:

• Interactive Brokers
• Forex.com
• TradeStation

Options Trading Demo App

Trading of options in the forex market differs from those in other markets. Forex traders can trade options without taking actual delivery of assets but on a CFD basis.

Here are some of the best demo forex trading apps with CFD options trading:

• Plus500
• IG

Demo Stock Trading App

Stocks on the forex market are traded on a CFD basis solely. Many forex brokers offer stock CFD trading on demo accounts to test-trade the strategies first. The choice of the trading app solely depends on the traders’ preferences and particular needs.

Here are some of the best stock CFD trading Apps with demo accounts:

• Fidelity
• Plus500
• CMC Markets