Been trading crypto for a while but want to get into forex now. Need a solid demo account to practice without the usual gimmicks.
Looking for something with real spreads and decent execution speed. Most demos I’ve tried feel too disconnected from live trading conditions.
Forex.com demo worked best for me. Real spreads no BS.
Open demo accounts with a few brokers and test them during live market hours.
Look for conditions that reflect what you’ll experience with real money. Some brokers make their demos appear better than they are.
Transitioning from crypto, it’s crucial to grasp how forex timing functions differently.
OANDA and XM have solid demos with variable spreads. Skip the ones with unlimited virtual cash - they’ll teach you bad habits.
This video covers the popular demo options pretty well.
Forex moves way slower than crypto - actually helps you learn proper risk management.
TD Ameritrade’s thinkorswim has the best forex demo I’ve used. Spreads match real conditions and it doesn’t freeze during news events like other platforms.
Here’s what nobody tells you - test your demo during different volatility periods. Practice when EUR/USD moves 20 pips vs 80 pips. Execution feels completely different.
Most brokers give you better fills on demo than live trading. Whatever slippage you see, expect worse with real money. Plan your entries around this.
Don’t demo for more than 2-3 months. You need real money psychology to actually learn anything.
FXCM demo actually tracks real spreads during news events when everything goes crazy.
Most brokers give you 30 days on demo accounts. Don’t get stuck practicing forever. Coming from crypto, forex will feel slow. But 50 pips on EUR/USD is huge. Focus on steady wins instead of hunting for moonshots. That crypto strategy of holding through drawdowns? Forget it. Forex moves differently and you need tight stops or you’ll get wrecked.
IG’s demo runs on real market data with actual spreads. I’ve been testing strategies there before going live - conditions match up pretty well.
Pro tip: reset your demo balance to match your real account. I started with 50k virtual when I only had 2k real money. Totally screwed up my risk management.
Test during different market sessions too. London/NY overlap gives you the most realistic conditions. Skip weekend demos - liquidity’s fake anyway.
Stick with one demo for at least a month. Platform hopping won’t teach you anything about execution or how spreads blow out during news.
Try TradingView’s demo with real broker feeds connected.
MT4 and MT5 demos from major brokers give you the most realistic conditions. Skip proprietary platforms because they oversimplify everything. Find brokers with live spreads on their demos. Most retail brokers do this now, but some still use fixed spreads that don’t match reality. IC Markets, Pepperstone, and FXCM have solid demo setups with execution speed that matches live conditions. Don’t use demos with fake 100k starting balances. Start with what you’ll actually trade live so your position sizing stays realistic from day one.