Best free Forex simulators: trade risk-free like a pro
Forex trading can be highly rewarding, but it also comes with significant risks. Before diving into live markets, it’s essential to practice in a risk-free environment. Forex simulators (also known as demo accounts) allow traders to test strategies, understand market dynamics, and gain confidence without risking real money.
In 2025, several platforms will offer advanced forex simulators with realistic market conditions. Below, we explore the best free forex simulators available today, along with their key features.
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) demo accounts for practicing
Platforms: MT4, MT5
Best for: Beginners and advanced traders
MT4 and MT5 are the most popular trading platforms, offering powerful demo accounts with real-time price feeds. Many brokers provide free demo accounts with virtual funds (usually $10,000 to $100,000).
➡ Top 5 Forex brokers with demo accounts
✅ Pros:
- Realistic market conditions
- Supports automated trading (Expert Advisors)
- Available on desktop, web, and mobile
❌ Cons:
- Some brokers limit demo account duration (30-90 days)
Example brokers offering MT4/MT5 demo:
TradingView paper trading
Platform: Web and mobile
Best for: Technical Traders
TradingView is a favorite among charting enthusiasts. Its Paper Trading feature allows users to simulate trades with real-time data.
✅ Pros:
- No sign-up required (free version available)
- Advanced charting tools
- Social trading ideas from the community
❌ Cons:
-
Limited to TradingView’s broker integrations
cTrader demo
Platform: cTrader
Best for: Professional traders
cTrader is known for its sleek interface and advanced order execution. Brokers like BlackBull Markets offer free cTrader demo accounts.
✅ Pros:
- Level II pricing (market depth)
- Better for scalping and algorithmic trading
❌ Cons:
-
Fewer brokers support cTrader compared to MT4/MT5
eToro virtual portfolio
Platform: eToro
Best for: Social and Copy trading
eToro’s $100,000 virtual portfolio is perfect for beginners who want to practice copy trading.
✅ Pros:
- Simulates social trading
- User-friendly interface
❌ Cons:
- Limited to eToro’s asset selection
ForexTester for practicing FX trades
Platform: Desktop (Paid and free trial)
Best for: Historical strategy testing
ForexTester allows traders to replay past market movements and test strategies.
✅ Pros:
- Historical data replay
- Great for backtesting
❌ Cons:
- The free trial is limited
Top 5 FX & CFD brokers for practicing on demo accounts
If you’re ready to transition from demo trading to live markets, here are the best brokers to consider:
XTB
- Regulated: FCA, CySEC, KNF
- Platforms: xStation 5 (user-friendly)
- Minimum deposit: $0
- Pros: Free advanced trading courses
BlackBull Markets
- Regulated: FMA (NZ), FSA (Seychelles)
- Platforms: MT4, MT5, cTrader
- Minimum deposit: $0 (ECN accounts available)
- Pros: Tight spreads, good for scalping
eToro
- Regulated: FCA, CySEC, ASIC
- Platforms: Proprietary (social trading)
- Minimum deposit: $50
- Pros: Best for copy trading
Risk disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
AvaTrade
- Regulated: Central Bank of Ireland, ASIC
- Platforms: MT4, MT5, AvaTradeGO
- Minimum deposit: $100
- Pros: Fixed and floating spreads
Exness
- Regulated: FCA, CySEC, FSCA
- Platforms: MT4, MT5, Exness Terminal
- Minimum deposit: $10
- Pros: Ultra-fast execution, high leverage
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Forex trading simulators - FAQ