Trading Experience
Trading Conditions
Account Types
Trading Platforms

Best Forex Demo Accounts In SA 2020

Total 11 | Sort by :
Trading Experience
Trading Conditions
Account Types
Trading Platforms
  • Trading conditions:


    AvaTrade has a free demo account so you can acquaint yourself with how Forex trading works and get a feel for the platform. It's also a handy tool to practice your trading or test expert advisors. 

    With 100,000 USD virtual funds, the demo account accurately simulates AvaTrade’s real account and will only expire after 21 days, though this can be extended by getting in touch with customer support.

  • Trading conditions:

    CM Trading

    CM Trading offers a demo account for all account types on the MT4 platform, but not for the Sirix platform. Unlike most brokers, the demo account will only be available after you open a live account and fund it.

    Demo accounts at CM Trading are unlimited and exactly mirror trading conditions on your live account. 

  • Trading conditions:


    XM offers demo accounts for the MT4 and MT5 platforms and they both mirror exactly the trading experience on the live accounts.

    The virtual balance for both demo accounts is set at 100,000 USD and neither account is time-limited, which is perfect for testing trading strategies or learning an unfamiliar platform.

  • Trading conditions:


    HotForex demo accounts exactly simulate the live accounts on both the MT4 and MT5 platforms. You will have to register with myHF in order to open a demo account, but will not be required to open a live account.

    Demo accounts on both platforms have unlimited usage and come with a 100,000 USD virtual balance.

  • Trading conditions:

    IG Markets

    As the world’s largest financial spread betting and CFD broker by revenue, and winning highly-acclaimed awards such as Broker of the Year 2018 (UK Forex Awards) and Best CFD Provider 2017 (Investment and Wealth Management Awards), IG Markets is an attractive choice for both the beginner and the seasoned trader.

    With regulation from the FCA, ASIC, and the FSCA, award-winning technology and over 195,000 clients worldwide IG Markets is a principal player in the CFD, Forex trading and spread betting industries.

  • Trading conditions:


    You will need to open a live account with eToro to receive access to the demo account, which accurately simulates the unique trading platform at this broker.

    The demo account has a 100,000 USD virtual balance and is unlimited as long as you have your live account open.

    If you have never traded with eToro before, it is recommended that you use the demo account until your fully comfortable with eToro's platform, as is it quite distinct from any other.

  • Trading conditions:


    Tickmill offers an unlimited demo account on the MT4 platform and often runs demo account contests and promotions. 

    The Tickmill demo account is loaded with 100,000 USD but will expire after seven days with no login from the user.

  • Trading conditions:


    While you need to register in order to gain access to the Plus500 demo account, you do not need to open a live account.

    The demo account is unlimited and gives you 50,000 USD to practice with - this will be reimbursed once your level drops below 200 USD.

    The proprietary Plus500 platform is quite distinct from other brokers, so getting comfortable with the demo account is strongly advised before you start trading with a live account.

  • Trading conditions:

    FP Markets

    FP Markets demo accounts are free and unlimited for practice purposes and are direct mirrors of the live markets. They come with $50,000 virtual currency and the signup process is fast and easy – FP Markets advertises that you can start trading within 30 seconds of registration.

    Demo accounts are available on MT4, MT5 and the IRESS institutional platform.

  • Trading conditions:


    easyMarkets offers an unlimited demo account both on MT4 and easyMarkets' own web-based platform, though you will need to open a live account before you can access it.

    The demo account is particularly useful if you want to test easyMarket's proprietary trading platform which features additional tools such as dealCancellation, Freeze Rate, and Inside Viewer.

  • Trading conditions:


    As part of FXTM's excellent education section for new traders, it offers a demo account mirroring each of its six live accounts (both market maker and ECN).

    All versions of the demo account are unlimited (they won't expire), which is an important consideration for testing new strategies as well as learning the ropes. 

Select up to three brokers to add to your custom comparison

All Forex Brokers in South Africa

What is a Demo Account?

A demo account is a beginner Forex trading account used to learn how to trade without risking real money. This account type uses a virtual account balance which makes it a good stepping stone to a live account if you are happy with your progress.

How to Choose A Demo Account?

How to compare Forex Brokers

How does a Forex Demo Account work?

A demo account works the same way as a live trading account. They use the same trading platform, trading data and customer support, where the only difference is that the profit and loss are not real.

Are Demo Accounts Accurate?

Demo accounts use real-time market data, so the trading experience is no different than on a live account. The only way that they are not accurate is the gains and losses of your trades are not real since the account is funded with virtual money.

How do you open a Forex Demo Account?

Opening a demo account only takes a few minutes. To get started:

  1. Visit a Forex broker where you would like to open an account
  2. Complete your personal information
  3. Verify your phone number or email address
  4. Follow the instructions on your screen and in your email.

Here is a video tutorial of my opening my demo account.

How long do Demo Accounts Stay Open?

Demo accounts remain open for different lengths of time depending on the broker but generally vary in length from 7 days to unlimited.

Forex Demo Accounts - How long do they stay open?

Demo accounts will often stay open indefinitely once the trader opens a live account, and are the most suitable testing environment for new tools and strategies before trying them out in live trading.

The Best MT4 Demo Accounts

The best MT4 demo accounts offer real market conditions, premium charting packages for free, give beginner traders access to educational content, and trading using mobile phone applications.

Broker Min. Deposit Min. Spread
AvaTrade USD 100 0.7 pips Visit Website
Read Review
XM USD 5 0.1 pips Visit Website
Read Review
Khwezi Trade ZAR 2000 0.6 pips Visit Website
Read Review
CM Trading USD 250 1.5 pips Visit Website
Read Review
FxPro USD 100 0.6 pips Visit Website
Read Review
FXTM USD 10 0.1 pips Visit Website
Read Review
FP Markets USD 100 0.1 pips Visit Website
Read Review

We have a guide to setting up MT4 should you need the assistance getting started and more detail where we compare MT4 Forex brokers side-by-side.

The Risks of Forex Trading

Forex trading is very risky, and much of the risk is hard to manage.

If you are concerned about making trading losses, or if you feel that you can make smarter trades, you should take note of the following: A tiny percentage of traders consistently predict the market and fewer still make significant returns, so starting with a risk-free account is a wise move.  The FCA published that 82% of traders who will lose money on these products, so it is highly recommended to open a demo first and apply the risk management that is available to you before investing money.

Recommended Reading

If you are new to trading and don’t know how forex trading works, it is wise to start your reading here, and then move off to learning to trade Forex, and how to open a trading account


Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.