CFD Demo Accounts
CFD demo accounts provide a risk-free opportunity for traders to practice strategies, get to grips with platforms and test out brokers. This article will explain in more detail what CFD demo accounts are, how they work and how you can compare different brokers and their paper trading offerings. We have also provided a list of our top CFD demo trading brokers below.
Best CFD Demo Accounts
Here is a summary of why we recommend these brokers in January 2026:
- Interactive Brokers - Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
- UnitedPips - UnitedPips supports CFD trading on a narrow selection of currencies, metals and cryptos. It somewhat compensates for the meagre asset range with high leverage up to 1:1000, seriously amplifying potential profits or losses, and spreads that don’t change with market conditions.
- Plexytrade - Plexytrade offers a modest selection of CFDs, providing opportunities to speculate on upward/downward price movements across 15 indices, 48 US stocks, 3 commodities, 4 metals, and 5 cryptos. The free margin calculator allows you to work out how much you need to put down to open and maintain leveraged positions.
- xChief - You can trade a competitive range of CFDs encompassing crypto, indices, energies and metals, with very high leverage up to 1:1000. ECN pricing is available, with spreads from 0.0 pips and low commissions from $2.50. A Cent account is also available for those on a smaller budget.
- Focus Markets - Focus Markets has clearly been built for crypto traders, offering an impressive 90+ derivatives, including major tokens like Bitcoin, Ethereum and Ripple. With high leverage, a commission-free trading account and fast execution on MT5, it delivers a reliable environment for active crypto traders.
- InstaTrade - InstaTrade offers the flexibility to trade CFDs across various markets, from stocks and indices to forex and commodities. Where it excels is its dynamic leverage up to 1:1000, amplifying potential returns and losses with negative balance protection preventing accounts from falling below zero.
CFD Demo Accounts Comparison
| Broker | CFD Leverage | Minimum Deposit | Minimum Trade | Regulators |
|---|---|---|---|---|
| Interactive Brokers | 1:50 | $0 | $100 | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| UnitedPips | 1:1000 | $10 | 0.01 Lots | IFSA |
| Plexytrade | 1:2000 | $50 | 0.01 | - |
| xChief | 1:1000 | $10 | 0.01 Lots | ASIC |
| Focus Markets | 1:500 | $100 | 0.01 Lots | ASIC, SVGFSA |
| InstaTrade | 1:1000 | $1 | 0.01 | BVI FSC |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| FTSE Spread | 0.005% (£1 Min) |
|---|---|
| GBPUSD Spread | 0.08-0.20 bps x trade value |
| Stocks Spread | 0.003 |
| Leverage | 1:50 |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
Cons
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
UnitedPips
"UnitedPips is ideal for traders seeking leveraged trading opportunities, the security of fixed spreads, and the flexibility to deposit, withdraw, and trade cryptocurrencies - all in one sleek TradingView-powered platform."
UnitedPips Quick Facts
| FTSE Spread | NA |
|---|---|
| GBPUSD Spread | 1.3 |
| Stocks Spread | NA |
| Leverage | 1:1000 |
| Regulator | IFSA |
| Platforms | UniTrader |
| Account Currencies | USD |
Pros
- UnitedPips’ platform performs well, with an intuitive design that will appeal to beginners, while the TradingView integration delivers powerful charting tools without overwhelming users, making it straightforward to execute trades efficiently.
- UnitedPips offers impressive leverage up to 1:1000 with zero swap fees or commissions, which can enhance potential returns for day traders and swing traders looking to control prominent positions with less capital.
- Although being handed off mid-chat due to shift changes during testing was frustrating, customer support is generally good with quick, helpful responses, and 24/7 support via phone and email for regional teams is a definite advantage.
Cons
- Unlike brokers such as IG, UnitedPips is an offshore broker not regulated by any 'green tier' financial authorities, raising concerns for traders seeking assurance and protection under well-established regulatory frameworks.
- UnitedPips' selection of tradable instruments is still minimal, comprising a bare minimum selection of forex, metals and crypto. There are no equities, indices or ETFs, which may be a drawback for experienced traders looking for diverse opportunities.
- UnitedPips lacks comprehensive research, while the educational content for beginner traders is woeful. Compared to brokers like eToro, which offers tutorials, webinars, and advanced courses, UnitedPips offers minimal resources to help new traders understand key concepts.
Plexytrade
"Plexytrade is a newcomer in the brokerage scene with attention-grabbing features like 1:2000 leverage, zero spreads on select instruments and fast execution speeds of less than 46 milliseconds. However, the absence of regulation is a significant concern, while the non-existent research and educational tools place it far behind industry frontrunners."
Plexytrade Quick Facts
| FTSE Spread | 0.8 |
|---|---|
| GBPUSD Spread | 0.8 |
| Stocks Spread | 5 |
| Leverage | 1:2000 |
| Platforms | MT4, MT5 |
| Account Currencies | USD, EUR |
Pros
- Plexytrade accommodates a range of trading methods and short-term strategies, including scalping, hedging, and automated trading.
- Despite lacking regulation, Plexytrade provides negative balance protection and reinforces safety protocols by holding client funds in segregated accounts.
- Plexytrade offers among the highest leverage we’ve seen, up to 1:2000, catering to advanced traders willing to forego regulatory protections.
Cons
- With around 100 instruments, Plexytrade restricts the flexibility of investors who prefer to trade across various assets, especially compared to Blackbull with its 26,000 securities.
- Plexytrade lacks regulation in major jurisdictions, significantly increasing the risks of opening an account and depositing funds.
- Deposits and withdrawals are exclusively facilitated through cryptocurrencies, as Plexytrade does not support bank cards, bank wire transfers, or e-wallets.
xChief
"xChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."
William Berg, Reviewer
xChief Quick Facts
| FTSE Spread | 70 |
|---|---|
| GBPUSD Spread | 0.9 |
| Stocks Spread | 50 |
| Leverage | 1:1000 |
| Regulator | ASIC |
| Platforms | MT4, MT5 |
| Account Currencies | USD, EUR, GBP, JPY, CHF |
Pros
- xChief delivers a high-quality day trading environment via the MT4 and MT5 platforms, with market-leading charts, indicators and tools
- Traders can access a copy trading solution via the MetaQuotes Signals service
- The broker offers a turnover rebate scheme geared towards active investors, as well as trading credits and several other occasional bonuses
Cons
- The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
- xChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards
- The total range of 150+ assets is much lower than most competitors who typically offer hundreds
Focus Markets
"Focus Markets is perfect for experienced traders familiar with MetaTrader 5, offering flexible crypto transactions (USDT and BTC) and access to over 90 cryptocurrencies for seamless speculation, deposits, and withdrawals."
Focus Markets Quick Facts
| FTSE Spread | 1.2 |
|---|---|
| GBPUSD Spread | 0.0 |
| Stocks Spread | Variable |
| Leverage | 1:500 |
| Regulator | ASIC, SVGFSA |
| Platforms | MT5 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, SGD |
Pros
- Focus Markets is regulated by ASIC – one of the most respected regulatory bodies in the financial industry with robust safeguards like negative balance protection, ensuring you can’t lose more than your balance in volatile markets.
- While its meagre four commodities won’t meet the needs of some serious traders interested in softs and metals, Focus Markets offers a huge suite of 90+ cryptos, providing short-term opportunities on high-reward, high-risk assets.
- Focus Markets excelled in the deposit and withdrawal category during testing, offering more base currencies than most competitors, including USD, CAD and EUR - and a range of traditional and popular crypto payment options, including BTC and USDT.
Cons
- Regulatory protection is a location lottery at Focus Markets – Australian traders benefit from strong ASIC oversight, but those using the SVGFSA-registered entity face limited recourse options in disputes.
- Focus Markets’ 24/5 support lacks direct phone help and unresponsive live chat, while email replies took a full business day during our latest tests. This slow support is a major drawback for active traders who need quick resolutions.
- Focus Markets still has a long way to go to compete with the best brokers - with virtually zero research tools and education, plus limited value-add features like VPS hosting, copy trading and swap-free accounts.
InstaTrade
"Although InstaTrade offers active trading on a comprehensive platform, it stands out with its fairly unique Fixed Income Structured Product (FISP), providing passive investment opportunities with up to 50% returns in 6 months if conditions are met. "
InstaTrade Quick Facts
| FTSE Spread | 660 |
|---|---|
| GBPUSD Spread | 0.2 |
| Stocks Spread | 8 (Apple Inc) |
| Leverage | 1:1000 |
| Regulator | BVI FSC |
| Platforms | InstaTrade Gear, MT4 |
| Account Currencies | USD, EUR, RUB |
Pros
- Despite an average investment offering of around 300 assets, InstaTrade offers a particularly strong suite of currency pairs, catering to advanced traders seeking opportunities in volatile exotics.
- InstaTrade TV, consisting of video interviews and valuable market insights spanning equities, cryptos and more, helps identify opportunities and inform short-term trades.
- InstaTrade claims to "guarantee" returns through the structured element of its passive trading solution (FISP), with applications approved within 24 hours.
Cons
- InstaTrade is registered in the offshore jurisdiction of the British Virgin Islands, resulting in limited regulatory safeguards for retail investors.
- InstaTrade’s growing educational tools provide valuable information for aspiring traders, but still trail category leaders like eToro with no structured course based on experience level.
- Marketing of the FISP, especially phrasing around the “guarantee of profitability” and the “elimination of risks of trading on financial markets” raises concerns.
How Do CFD Demo Accounts Work?
A demo account works just like a normal CFD account, only there is no material buy-in. Rather than depositing your own money, a demo account is funded with virtual capital that you spend in a simulated trading environment. However, the market movements are still accurate and brokers will still implement virtual trading fees, like spread markups and commissions, to maintain realism.
That being said, the liquidity seen in CFD demo accounts is usually infinite, i.e. orders are instantly filled at the shown price, no matter the asset. The real world, on the other hand, has limited liquidity, so slippage may occur.
Most brokers offer CFD demo accounts for free and with no time limit, so investors can practice trading strategies and explore new markets with no risk to their real money. This is a great way to start trading as you can hold out and only stake real funds when you feel comfortable.
Pros
- Given the simulated nature of CFD demo accounts and the virtual funds, there is no risk of real monetary loss
- Paper trading is a great way to trial a broker or trading platform without any commitment. For example, you may want to explore some new assets, charting tools or indicators without staking money before getting comfortable with them.
- CFD demo accounts are also a great way to refine or test trading strategies, ironing out snags and inefficiencies by identifying mistakes that don’t cost you real money. Once you are producing consistent results, you can take your strategy to the real world.
- Trading with simulated money for some time can give you a taste of inevitable drawdowns and low-yield periods. Experiencing these can help you practise sticking to your strategy and risk management approach until you rise again.
Cons
- While leverage can increase trade sizes, and getting practice in with no risk of loss can be helpful, investors must be careful. CFD demo accounts can provide a false sense of security and lead to taking risks that are too great when you begin live trading.
- The simulated nature of demo accounts does not support all real-life trading characteristics, like slippage. Therefore, orders in a live account may not be filled at the same price as for a demo account and maintaining performance can be difficult
- Some, albeit not all, brokers will use their demo account as an advertising tool for their services. This can often produce tighter spreads and lower trading fees than would realistically be available in a live account, especially in fast-moving, volatile markets.
- CFD demo accounts may come with the full suite of a broker’s additional charting and analysis features, which may come at a cost for live trading accounts.
- While demo accounts can be good to get a feel for a broker or strategy, the safety they provide does not expose you to many of the psychological difficulties of live trading. For example, demo trading is often done with no fear, complacent risk management and overtrading.
How To compare CFD Demo Accounts
Several factors and considerations can be used to differentiate between options and find the best CFD demo accounts:
Platforms
The trading platform that the broker offers can make a significant impact on your experience. Platforms range from sleek and easy-to-use mobile applications that keep things simple to complex and sophisticated desktop trading clients or even proprietary web-based trading systems.
Functionality is an important and personal thing, some traders may want easy access to and integration with online automated trading robots, while others may prefer to carry out their trades manually using one-click trading. Some of the most popular trading platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader.
Markets
All CFD demo accounts will offer a variety of different markets, so it is important to look for one that offers the markets you are interested in. These will often include forex and stocks, while some brokers will also offer cryptos, indices and commodities.
Check out the assets your broker offers on both their demo account and whichever live account you are interested in opening afterwards. CFD trading follows standard market hours for its assets, i.e. exchange trading hours for stocks and indices, 24/5 for forex and 24/7 for cryptos.
Customer Support
Customer service is important for live trading as any lost time can mean you lose money. Using demo accounts can give you a good feel for a broker’s level of customer support, especially as you are likely to have more questions when paper trading. Try to find a broker with active customer support at all times you might be trading.
Education
When opening a CFD demo account, the aim is to learn, so finding a broker with a good range of high-quality educational tools can be very impactful. Some brokers offer one-to-one sessions to support demo trading, while others may have live webinars, online trading courses and educational blog posts.
Fees
While some brokers will offer a free demo account for anyone keen, others are not so accessible. Firms may charge for their demo trading services or require some level of deposit into a live trading account before they let you begin using their CFD demo accounts.
Final Word
CFD demo accounts offer a great way for those inexperienced to get a feel for CFD trading, different brokers and platforms or new markets. Moreover, they are a safe place to try new strategies or refine existing ones, with no risk of financial loss. However, care should be taken as their risk-free nature can result in complacency or an unhealthy risk appetite when it comes to live trading.
FAQs
What Is A CFD Demo Account?
CFD demo accounts are offered by some online brokers and provide risk-free, simulated CFD trading in real-time markets. These accounts are funded with virtual money and work much the same as live trading, albeit with better liquidity and often tighter spreads.
How Does A CFD Demo Account Work?
A demo account lets you execute trade orders on CFD assets based on real-time pricing data and fee structures. However, there is no risk involved as all money is simulated. Traders can usually select how much they wish to fund their account with (up to a predefined maximum) and begin trading immediately.
Why Should I Open A CFD Demo Account?
CFD demo accounts are a great way to explore a more unique area of trading without risking any real money. If you want to get into trading CFDs, try a new broker, platform or asset or refine and get to grips with a new trading strategy, demo trading can be a useful tool.
What Should I Look For In A CFD Demo Account?
There are many things to consider when opening a CFD demo account, including the markets on offer, platforms used and customer service. Don’t forget to think about fees and the broker’s live trading options before opening a demo account.
Do CFD Demo Accounts Have Fees?
CFD demo accounts are often free, though some brokers may charge for them. Moreover, some firms require a small deposit into a live trading account before you can make use of their demo options.