A free forex demo account allows you to practice forex in a live trading environment. You can test your FX skills, try out new trading strategies, systems and trading platforms without any financial risk involved. The table below provides you with a list of reputable forex brokers with totally free practice accounts.
XM provides non-expiring practice accounts with $100,000 virtual funds. Get access to real-time charts and rates. Choose from 7 trading platforms, including Metatrader 4.
Forex.com offers $50,000 forex practice accounts for 30 days. Metatrader 4 practice account availble.
Hotforex offers two types of demo accounts: DemoHotForex and DemoCurrenex. Demo accounts are valid for 30 days.
Why apply for a forex demo account?
Forex demo trading is great to get started in currency trading with no money at risk. It is the only way to test a forex broker's trading platform under real market conditions before you decide to open a live trading account. You can open a free demo in less than a minute and be up and running with the broker's platform in less than 10 minutes.
A practice account allows you to:
Test and learn the broker's trading platform with no obligation.
Learn to trade forex without any risk.
Test your trading strategies with real-time data and charts.
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Risk Disclosure: Trading forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.