What are the Best Demo Trading Accounts in the UK?

Demo accounts are a great way to begin mastering trading without risking any real money. We recommend using a demo account until you become consistently profitable for about 4-6 months.

But first you’ll need to choose the right platform.

Our comparison looked at the best functionality, user experience and pricing with minimum restrictions.

So, let’s dive in and explore the top demo trading accounts available in the UK.

What Makes a Good Demo Trading Account?

When it comes to demo trading accounts, not all are created equal.

So, what makes a good demo trading account? We think there are six key criteria to consider:

• Realistic Simulations –  A good demo trading account should simulate real market conditions as closely as possible. This means the account should have access to the same trading tools and indicators as the real platform and provide real-time market data and pricing.
• User-Friendly Interface – The interface of the demo trading account should be user-friendly and easy to navigate.
• Flexibility – The best demo trading accounts offer flexibility in terms of the types of assets you can trade and the amount of virtual money you can use. This allows you to test different trading strategies and gain market experience.
• Support and Resources – A good demo trading account should provide access to support and educational resources. This could include access to customer support, tutorials, webinars, and other resources.
• Time Limit – The best demo trading accounts do not have a time limit. This means you can practice and refine your trading strategies for as long as you need before jumping into the real market.
• Disposable Funds – A good demo trading account should provide a sufficient virtual disposable amount, similar to what you would expect to trade within the real market. This will allow you to practice realistic trading amounts and develop your risk management skills.

It’s important to note that some demo trading accounts may provide a virtual disposable amount much higher than what you would trade within the real market. While this may seem good initially, it can create unrealistic expectations and encourage risky trading behaviour.

The 5 Best Demo Trading Accounts in the UK

eToro, Best Overall Demo Account

Pros

• £100 000 of Disposable Funds
• Unlimited Practise Time
• Copy Trader Feature
• Social Newsfeed

Cons

• No Desktop Platform

Among the myriad of choices, eToro stands out as a front-runner, boasting one of the best demo account features on the market. 

This well-regarded social trading platform, founded in 2007, offers a perfect blend of accessibility, versatility, and a realistic trading environment, making it an ideal choice for beginners.

Its social aspect makes it a great choice if you want to train and observe other experienced traders before trading for real yourself.

eToro’s demo account gives you access to 5000 trading instruments.

• Stocks and Shares – eToro allows you to trade more than 2000 stocks and shares, with a focus on major international exchanges, such as NYSE, NASDAQ, LSE, and more.
• Exchange-Traded Funds (ETFs) – eToro provides a selection of 250 ETFs that track different indices, sectors, and industries, making it easier for users to create a well-balanced investment portfolio.
• Cryptocurrencies – eToro has established itself as a leading platform for cryptocurrency trading, offering trading with more than 50 digital currencies, such as Bitcoin, Ethereum, Ripple, and Litecoin,
• Forex (Foreign Exchange) – You can access more than 50 currency pairs, including major pairs like EUR/USD, GBP/USD, USD/JPY, and minor and exotic pairs.
• Commodities – eToro’s commodity trading options include 30 popular assets, such as gold, silver, oil, and natural gas.
• Indices – eToro offers a range of global indices, such as the US30, GER30, and JPN225, allowing traders to gain exposure to different markets and diversify their portfolios.
• Smart Portfolios – eToro’s SmartPortfolios are professionally managed portfolios that combine various assets based on a predefined market strategy. 
• Charts and technical analysis – This feature will help you analyse the markets and identify trading opportunities. It includes candlestick charts, trend lines, and technical indicators such as moving averages and oscillators.
• Risk management tools – eToro’s risk management tools enable you to limit your potential losses. They allow you to set a specific price at which you want to buy or sell an asset, which can help protect your investments from market volatility.
• eToro Academy – eToro Academy is a comprehensive online trading school that publishes courses, videos, webinars, and articles on several trading topics. The academy covers topics such as technical analysis, fundamental analysis, risk management, and trading psychology.
• Market News and Analysis – eToro’s news feed helps you stay up-to-date with the latest market developments. It includes articles, videos, and market analysis from eToro’s team of analysts.
• Social Trading – eToro’s social trading features enable you to connect with other traders, share trading ideas, and collaborate on trading strategies. Users can also follow and copy the trades of other traders on the platform, which is incredibly valuable for learning from other traders and potentially improving your own trading performance.

How to Open a Demo Account with eToro?

Opening an eToro demo account is a straightforward process. Follow these simple steps:

• Visit eToro – Go to the eToro website and click “Join Now.”
• Register – Fill out the registration form with your personal details, such as your name, email address, and password.
• Switch to Virtual – Once you have created an account, log in to your dashboard and click “Virtual Trading.”
• Start Trading – You will then be directed to the eToro demo account to start trading with virtual funds.

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees

Pepperstone, Best Demo Account for Advanced Trading Tools

Pros

• £50 000 to Get Started
• You can Extend the 30 Days Time Limit
• Great for FOREX and CFDs
• Competitive for Active Traders

Cons

• Oriented Toward Confirmed Traders
• Not Ideal if you're looking for More Instruments

Founded in 2021, Pepperstone offers an excellent demo trading account for anyone looking to practice trading with advanced, user-friendly tools.

The broker’s spreads are some of the tightest in the industry, enabling you to execute trades at a lower cost and potentially increase your profits.

Pepperstone is one of the best options if you’re interested in advanced market and order monitoring, with some of the most advanced trading tools we’ve seen anywhere.

Pepperstone’s Demo Account Trading Instruments

Pepperstone is mainly focused on FOREX and CFDs, making it the right option to trade those instruments.

Let’s take a look at what you can trade on the platform.

• Forex – Pepperstone is well-known for its extensive range of Forex trading options. With over 180 currency pairs available, the broker provides traders ample opportunities to capitalise on the ever-changing foreign exchange market.
• CFDs – Contract for Differences (CFDs) is another popular trading instrument offered by Pepperstone. CFDs allow you to speculate on various financial instruments’ price movements without owning the underlying asset. 
• Index CFDs: To gain exposure to broader market trends without investing in individual stocks.
• Commodity CFDs: To choose from various commodities, such as gold, silver, oil, and natural gas.
• Cryptocurrency CFDs: To profit from the cryptocurrency market’s volatility without actually owning the digital asset.
• Share CFDs: To trade on popular companies like Apple, Amazon, and Google.

Pepperstone’s trading academy offers courses taught by experienced traders on Forex trading, CFDs, and several trading topics.

How to Open a Pepperstone Demo Account?

• Go to the Pepperstone website – visit www.pepperstone.com
• Click on “Join Now” – Click on the “Join Now” button at the top right-hand corner of the website’s homepage.
• Fill out the registration form – Once you click on the “Demo Account” button, you’ll be redirected to the registration page where you’ll need to fill out a registration form. The form requires you to enter basic personal information such as your name, email address, country of residence, and phone number.
• Choose your trading platform – After filling out the registration form, you must select the platform you want to use for your demo account. Pepperstone offers two trading platforms: MetaTrader 4 and MetaTrader 5.
• Download the trading platform – Once you’ve selected it, you must download and install it on your device. The download link will be provided on the registration page.
• Access your demo account – After you’ve installed the trading platform, open it and log in to your demo account using the credentials provided to you via email.
• Start trading – Now that you’ve logged in to your demo account, you can start trading with virtual funds in a risk-free environment.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.9% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Trade Nation: Best Demo Trading Account for Beginners

Pros

• Beginners Friendly
• Simple and Transparent
• Great Customer Support

Cons

• Limited Tools and Insights for Advanced Traders
• Only £10 000 Available

Trade Nation focuses very specifically on low spreads and quick execution. This makes it an ideal choice if you don’t have much trading experience yet and want to practice with a demo account.

Intuitive and straightforward, the platform has a clean interface that makes finding the tools and resources easy.

Pepperstone also insists on transparency regarding its fees and the absence of hidden costs.

The platform provides access to real-time market data and insights so that you can stay up-to-date on the latest trends and movements in the market.

The available funds may seem low, but it is relevant for beginner traders, who might not invest £100 000 right away. We believe this gives a much more realistic experience to the demo account.

Trade Nation Trading Instruments

Trade Nation is mainly focused on FOREX and CFDs, meaning that, even though several classic instruments are unavailable, this broker is an excellent option if you plan to trade those two particular markets.

Trade Nation Demo Account Key Features

Trade Nation tools are designed to be user-friendly and accessible, providing real-time data and analysis to help traders stay on top of market trends without going too technical.

Real-Time News –  Trade Nation’s real-time news feed publishes economic indicators, corporate announcements, political developments, and more, accompanied by a brief summary, expert commentary, and a link to the full article if you want to dig deeper.

Signal Centre – Trade Nation’s Signal Centre is an all-encompassing trading instrument designed to provide valuable market intelligence, indicators, and evaluations. 

It is powered by Autochartist, a sophisticated automated technical analysis tool, and PIA First, a prominent provider of independent trading assessments. 

The Signal Centre includes chart patterns, key levels, performance statistics and trading signals to help you make the most of the markets.

Risk Management – Like many regulated brokers, Trade Nation ensures you can manage your risk efficiently thanks to integrated tools such as:

• Stop-loss orders to close a trade when the price reaches a certain level and limit potential losses.
• Take-profit orders to close a trade when the price reaches a certain profit level. This allows you to lock in your profits and avoid the risks of holding a trade for too long.
• Negative balance protection prevents you from losing more money than you have in your account.

Trade Nation Educational Resources

The broker’s educational resources may seem limited at first, but they are a great compromise between quality information and beginner-friendly insights.

Although advanced traders may want more around gaining a deeper understanding of the markets, technical analysis, and trading psychology, you will find what you need if you are getting started, which may be the case if you’re looking for a demo account.

Some essential resources include:

• Insights Hub – This section offers expert insight, market reactions, and how-to tips. It covers various topics, including market news, trends, and economic events that may impact financial markets.
• Part-time to Pro – This collection of articles is designed to help traders transition from part-time trading to becoming professional traders.
• Trading explained – This section covers the basics of trading, including an introduction to various financial instruments, trading strategies, and risk management techniques. It aims to provide a comprehensive understanding of trading concepts.

Although Trade Nation resources are not the most complete in the industry, they are easily digestible by beginners, written by experts, and overall quite reassuring if you’re only starting to dabble into the trading world and don’t want to trade on arid platforms or be overwhelmed by information.

How to Open a Trade Nation Demo Account?

Trade Nation’s demo account opening is extremely straightforward. Just follow those simple steps:

• Visit tradenation.com and click “Try on Demo” at the homepage’s top.
• Fill in the registration form with your details, including your name, email address, and phone number.
• Answer a few simple questions – Describe your experience as a trader and your goals, and give information about your employment situation and estimated funds.
• Select your account type – You can open a practice account or apply for a live one.
• Answer a few questions about your knowledge of the trading world. This ensures you’re getting into trading with basic information about how it goes daily.
• Select your trading platform and currency – Trade Nation offers access to 2 platforms: their In-House platform and MT4, a third-party provider used by many forex brokers.
• Start Practicing – Once you’ve selected your platform, you can start trading your £10 000 virtual funds.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

XTB, Runner Up Best Demo Trading Platform

Pros

• £100 000 to Practice With
• User-Friendly and Performant Platform
• Quality Customer Support

Cons

• Inactivity Fees

With over 20 years of experience in the industry, XTB has built a reputation for providing top-notch trading services, innovative technology, and a robust platform to trade on.

If you are a beginner and want to try on their demo account, you’ll have access to a user-friendly and performant platform to get familiar with the cruel world of trading.

XTB Demo Account Trading Instruments

XTB offers access to 1 500 financial instruments, allowing you to try several trading products and strategies before switching to a live account.

• Forex Trading –  XTB provides 57 currency pairs to trade, including majors, minors, and exotics.
• Indices – The broker allows you to trade on over 40 indices worldwide, including the S&P 500, FTSE 100, and Nikkei 225.
• Commodities – With XTB, you’ll have a choice of 22 commodities to trade on, such as oil, gold, and silver. 
• Stocks – XTB offers CFD trading on over 1 828 global stocks from the UK, US, Germany, and other countries, allowing you to speculate on the future price movements of these stocks without actually owning them. 
• Cryptocurrencies – XTB has also introduced trading on cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Although we would not advise trading crypto to beginners, having the option is always a good thing.
• ETFs – ETFs provide a low-cost and diversified way for investors to gain exposure to a specific market or industry. With XTB, you will be able to trade over 100 of them.

XTB Trading Tools

XTB’s trading tools are integrated into the broker’s proprietary trading platform: xStation.

xStation is one of the most advanced and user-friendly trading platforms available. It is web-based and provides a mobile app, meaning you can access it from your desktop, laptop, tablet, or mobile device. 

One of the key features of xStation is its powerful charting capabilities. The platform provides access to advanced charting tools and technical indicators, allowing you to analyse market trends and identify potential trading opportunities. In addition, xStation allows you to view multiple charts simultaneously, making it easy to keep track of multiple assets at once.

XTB has also integrated several risk management tools into xStation, including negative balance protection and margin alerts. This helps you manage their risk and avoid potential losses, ensuring that their trading experience is profitable and secure.

Automated trading

XTB offers multiple automated trading features, including Expert Advisors (EAs), trading robots, and custom trading strategies. These features are designed to help you execute trades without manual intervention.

One of the leading automated trading features offered by XTB is Expert Advisors (EAs)., a software program that can be integrated into the XTB trading platform to automate various aspects of trading.

EAs can be programmed to execute trades based on specific criteria, such as market conditions, technical indicators, and price movements.

Trading robots are pre-built trading strategies that can be customised to suit individual trading needs. These robots are designed to analyse market data and execute trades automatically based on predefined parameters. You can also create your own custom trading strategies.

Trading Academy – XTB’s Trading Academy is a treasure trove of learning materials designed to suit traders at various journey stages. The academy is divided into four sections: Basic, Intermediate, Expert, and Premium. Each section is tailored to a specific skill level, ensuring that everyone, from beginners to seasoned traders, can benefit from these resources.

Webinars – Webinars are an excellent way to learn from industry experts in real time.

XTB offers a robust schedule of live webinars covering various topics, including market updates, technical analysis, fundamental analysis, and trading psychology. These webinars are hosted by experienced XTB analysts and are designed to help you stay informed about current market trends and hone your skills.

Video Tutorials – For those who prefer a visual approach to learning, XTB offers an extensive library of video tutorials. These tutorials cover a wide array of topics, from platform walkthroughs and trading tools to in-depth explanations of various trading strategies and concepts.

Market News and Analysis – Any trader must keep up-to-date with market news and analysis.

XTB provides traders with regular market updates, expert analysis, and insightful articles through its News and Analysis section. This resource helps you stay informed about the latest market developments and provides valuable context for your trading decisions.

How to Open an XTB Demo Account?

To open a demo account with XTB, please follow these steps:

• Visit the XTB website – Go to the XTB website at https://www.xtb.com/ and click on the “Demo” button at the top right corner of the page.
• Fill out the registration form – Fill out the registration form with your personal information, such as your name, email address, and phone number.
• Choose your trading platform – Choose the platform you want to use for your demo account. XTB offers several platforms, including xStation 5, MetaTrader 4, and MetaTrader 5.
• Start trading – Once your account is activated, you can start practising trading with virtual funds and familiarise yourself with the platform and trading tools.

(capital risk applies)

CMC Markets, Best Demo Trading Account for Unlimited Practice Time

Pros

• Great amout of instruments and pairs
• Customisable trading experience

Cons

• CFD Fees on the high side

When it comes to trading, practice makes perfect. Not everyone is ready to take the leap after just 30 days.

CMC Markets Demo Account offers the rare opportunity to practice trading strategies on its performant trading platform for unlimited time.

Founded in 1989, the broker combines a user-friendly and powerful trading platform, advanced trading tools and an outstanding number of pairs to trade on.

CMC is one of the best options if you want to learn the tricks of the trade while taking your time.

CMC Market’s Demo Account Trading Instruments

CMC Market is an excellent choice if you’re planning on practising with multiple instruments to find the ones that are right for you. The brokers offer access to over 12 000 of them.

Two types of trading are available: CFDs and Spread Betting.

• FOREX – CMC Markets provides access to over 330 forex pairs, including majors, minors, and exotics. You can trade forex on the CMC Markets platform 24 hours a day, five days a week, and take advantage of tight spreads, fast execution, and advanced charting tools.
• Indices – CMC Markets offers over 80 indices from around the world, including the FTSE 100, S&P 500, and the Nikkei 225. With CMC Markets, you can trade these indices with leverage, which means you can open larger positions with a smaller initial investment.
• Commodities – CMC Markets gives you access to over 100 commodities, including precious metals, energy, and agricultural products. Commodities can be volatile but can also provide diversification and a hedge against inflation.
• Shares – The broker enables you to trade over 9,000 shares from 23 countries, including the UK, US, and Japan. You can trade shares with CMC Markets as individual stocks or as part of a share basket, which allows you to invest in a group of shares with a single trade.
• ETFs – Over 1,000 ETFs are available for trading from around the world, including equity ETFs, fixed-income ETFs, and commodity ETFs. ETFs can provide diversification and exposure to different markets, sectors, and asset classes.
• Cryptocurrencies – CMC is open to over 21 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. A short warning, though, cryptocurrencies can be highly volatile, and we would not recommend practising with this instrument on your demo account.

CMC Markets Demo Account Trading Tools

CMC’s proprietary Next Generation platform condenses the broker’s advanced trading features in easy-to-use packaging.

Client Sentiment – This feature makes it easy to see what percentage of CMC Markets clients have bought or sold a particular product. This gives you a clear picture of the market’s expectations and can help you make more informed trading decisions. You can also view the monetary value of these positions as a percentage, providing further insight into the sentiment of other traders. 

When looking at data for a particular product, you have two options to make it more meaningful. You can view data for all clients with an open position in that product or switch to the “Top Clients” view. 

In the “Top Clients” view, you’ll only see data from CMC’s top-performing clients who have made an overall profit over the last three months. This way, you can filter out unnecessary noise and focus on the information that matters most.

CMC client sentiment analysis data is updated every minute, which means you get insights based on almost real-time information. This can be particularly helpful during volatile periods when market prices are prone to rapid changes.

Multiple Layouts – With this feature, you can create and save up to five different trading layouts right within the platform. This means you can enjoy a larger trading dashboard and use your screen space more efficiently. Switching between layouts is also accessible with the quick links in the top navigation toolbar.

Pattern Recognition Scanner – This tool is designed to help you identify potential trading opportunities based on emerging and completed chart patterns such as wedges, channels, and head and shoulders formations. 

With the scanner, you can scan over 120 of CMC’s most popular products every 15 minutes, giving you real-time insights into market trends.

What’s more, You can set up automatic alerts to stay informed about technical trade set-ups and potential trading opportunities. This means you can be notified as soon as the scanner identifies a pattern that meets your criteria and stay ahead of the curve.

Price Projection Box – After a pattern is completed, the Pattern Recognition Scanner generates a price projection box using advanced technical analysis measuring techniques. 

This box highlights where the price action could go on the instrument’s chart, giving you valuable insights into potential price movements.

To help you make informed decisions, the platform also offers an inbuilt backtesting tool that measures the historical performance of each pattern. This allows you to see how frequently the price has hit the projection box in the past.

Module Linking – The ability to group different modules together means that when you change the product shown in one module, all other grouped modules will automatically update to show the new product, saving you time and effort.

You can also link your watchlists to a variety of other tools, including Reuters market news, client sentiment, charts, and order tickets. This allows you to quickly analyse your favourite products and place trades based on the latest market trends and insights.

CMC Markets Demo Account Educational Resources

At CMC Markets, education is a top priority. The company recognises that the financial markets can be complex and overwhelming, particularly for those new to trading. As such, they offer a range of educational resources to help traders confidently navigate the markets.

One of the most popular educational resources offered by CMC Markets is its online learning platform, Learn. This platform is designed to provide traders with a comprehensive education in all aspects of trading. It covers everything from the basics of trading to more advanced strategies and techniques.

Learn offers a range of courses, webinars, and articles accessible to traders of all levels. The courses cover technical analysis, fundamental analysis, risk management, and trading psychology. Traders can work through the courses at their own pace and earn a certificate upon completion.

In addition to the online courses, Learn also offers a wide range of webinars designed to provide traders with up-to-date market insights.

For those who prefer to learn through reading, Learn also offers a vast library of articles that cover a wide range of trading topics. The articles cover everything basic trading concepts and advanced trading strategies.

CMC Markets also offers a range of other educational resources. These include a trading glossary, which provides definitions for standard trading terms, and a range of trading guides covering specific markets and trading instruments.

How to Open a CMC Markets Demo Account?

To open a CMC Markets demo account, you can follow these steps:

• Visit the CMC Markets website (www.cmcmarkets.com) and click on the “Demo Account” button at the bottom of the page
• Fill in your personal information, including your country, name, email address, and phone number.
• Select your trading platform – You will have a choice between the proprietary CMC platform and Meta Trade 4.
• Answer some basic questions about your trading experience and investment goals.

Once you have completed these steps, you should receive an email with instructions on how to log in to your CMC Markets demo account.

(capital risk applies)

Pros and Cons of Using a Demo Trading Account

While demo trading accounts can be a great way to learn about trading, they have disadvantages. Let’s examine the pros and cons of using a demo trading account.

Pros

• Trade Without Risk
• Learn About Trading
• Test Your Strategies
• Get Familiar with the Platform

Cons

• No Real Money Involved
• Unrealistic Trading Conditions
• Limited Time
• No Emotional Attachment