Trading Demo Competitions

Trading demo competitions are a great way to practise financial speculation without any inherent risk but maintain the possibility of financial reward at the end. Many brokers, especially CFD and forex brokers, offer demo accounts that are funded with virtual capital and mimic real-world market data. Trading demo competitions leverage these benefits in a level playing field tournament amongst traders with a particular broker. This 2024 guide breaks down how they work, the kind of prizes available and how to choose the best ones.

Best Brokers For Demo Trading Competitions

These 10 brokers offer the best demo trading competitions based on our tests:

Trading Demo Competitions Comparison

Trading Demo Competitions Comparison
Broker Demo Competition Minimum Deposit Minimum Trade Platforms Regulator Visit
RoboForex logo
$10 0.01 Lots R StocksTrader, MT4, MT5, TradingView IFSC Visit
Vantage logo
$50 0.01 Lots ProTrader, MT4, MT5, TradingView, DupliTrade FCA, ASIC, FSCA, VFSC Visit
FxPro logo
$100 0.01 Lots FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade FCA, CySEC, FSCA, SCB, FSC Visit
CMC Markets logo
$0 0.01 Lots Web, MT4 FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA Visit
FBS logo
$5 0.01 Lots MT4, MT5 ASIC, CySEC, FSC, FSCA Visit
NordFX logo
$10 $1 MT4 - Visit
Axi logo
$0 0.01 Lots MT4, AutoChartist, DupliTrade FCA, ASIC, DFSA, FMA Visit
SuperForex logo
$1 0.01 Lots MT4 IFSC Visit
CloseOption logo
$5 $1 Own National Bank of Georgia Visit
Grand Capital logo
$10 0.01 Lots MT4, MT5 FinaCom Visit
FXCM logo
$50 Variable Trading Station, MT4, TradingView, eSignal FCA, CySEC, ASIC Visit
Alpari logo
$5 0.01 Lots MT4, MT5 FSC, SEBI, JFSA Visit
JustMarkets logo
$1 0.01 Lots MT4, MT5 CySEC, FSA, VFSC Visit
OctaFX logo
$100 0.01 Lots MT4, MT5, AutoChartist SVGFSA, CySEC Visit
Baxia Markets logo
$50 0.01 Lots MT4, MT5 SCB, FSA Visit

#1 - RoboForex

Why We Chose RoboForex

RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.

"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures
  • Regulator: IFSC
  • Platforms: R StocksTrader, MT4, MT5, TradingView
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:2000

Pros

  • The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
  • The broker offers leverage up to 1:2000 for certain account types, which is among the highest in the industry. This high leverage allows day traders to maximize their trading potential, albeit with a corresponding increase in risk.
  • The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping day traders to minimize transaction costs.

Cons

  • Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the IFSC in Belize, lowering the level of regulatory protections for traders.
  • RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
  • While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.

#2 - Vantage

Why We Chose Vantage

Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
  • Regulator: FCA, ASIC, FSCA, VFSC
  • Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade
  • Minimum Deposit: $50
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
  • Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
  • The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders

Cons

  • Unfortunately, cryptos are only available for Australian clients
  • The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
  • It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection

#3 - FxPro

Why We Chose FxPro

Founded in 2006, FxPro is an established forex, CFD and spread betting broker offering 2100+ assets to over 2 million clients worldwide. The broker is regulated in 4 jurisdictions and offers reliable 24/5 customer support, earning it a high trust and safety score. FxPro has also picked up more than 100 industry accolades for its competitive trading conditions, including fast execution and deep liquidity.

"FxPro is best for experienced traders looking for wide market access, premium research tools and advanced charting platforms. The competitive fees and fast execution will serve serious short-term traders, whilst the BnkPro investment service will appeal to those looking for long-term e-money solutions."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Futures
  • Regulator: FCA, CySEC, FSCA, SCB, FSC
  • Platforms: FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)

Pros

  • There are 4 superior day trading platforms, including a proprietary solution with over 50 indicators, 7 chart types and an impressive 15 chart time frames
  • FxPro maintains its position as a top no dealing desk (NDD) broker, with fast execution speeds under 13ms and co-located trading servers with Tier 1 banks
  • Comprehensive analysis and trading tools are available for seasoned traders, including signals powered by Trading Central and VPS hosting

Cons

  • FxPro's services are mainly geared towards experienced investors and beginners may find the broker's fees and accounts complex
  • The broker charges a $10 inactivity fee after 6 months of account dormancy, though this is more lenient than many brokers
  • There are only a handful of payment methods available, compared to the 10+ offered at top competitors like AvaTrade

#4 - CMC Markets

Why We Chose CMC Markets

Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.

"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
  • Regulator: FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
  • Platforms: Web, MT4
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

Pros

  • CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
  • The web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) is also supported.
  • CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.

Cons

  • The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
  • Trading stock CFDs incurs a relatively high commission, especially compared to the cheapest brokers like IC Markets.
  • Despite improvements, the web platform still requires enhancements to make it as intuitive to trade on as software from rivals like IG.

#5 - FBS

Why We Chose FBS

FBS is an award-winning forex and CFD broker based in Cyprus. The broker has a strong global reputation with authorization from the CySEC and ASIC, amongst others regulators. The brand has 17 million clients in over 190 countries, attracted by a diverse range of markets and the reputable MetaTrader platforms.

"FBS is a great choice for traders of all experience levels and budgets with various account types, plus MetaTrader 4 and MetaTrader 5 access. That said, the broker's Cent account and intensive forex course will be particularly beneficial for beginners."

- DayTrading Review Team
  • Instruments: CFDs, forex, indices, shares, commodities, cryptocurrencies
  • Regulator: ASIC, CySEC, FSC, FSCA
  • Platforms: MT4, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (EU & Restricted Countries), 1:3000 (Global)

Pros

  • The MetaTrader terminals deliver a comprehensive day trading environment at FBS, including up to 21 timeframes and 6 pending orders
  • The broker’s NDD technology ensures fast order execution within 0.4 seconds and no requotes
  • There’s a great choice of account types for short-term traders including crypto, cent and ECN options, with decent forex spreads at 0.7 pips

Cons

  • Account availability, platform access and market coverage all vary by jurisdiction
  • There's a limited range of assets overall, including only 35+ currency pairs
  • There’s no copy trading solution which would offer an alternative way to trade and is offered at many top competitors like Skilling

#6 - NordFX

Why We Chose NordFX

Founded in 2008, NordFX is an offshore CFD broker offering forex, stock, commodities, indices and crypto trading to over 1.7 million clients in 190 countries. Traders access markets through the MetaTrader 4 platform and benefit from low commissions, spreads from zero and decent extra features. Minimum deposits start from just $10 and very high leverage is available up to 1:1000.

"NordFX's biggest advantages are available to upper-tier account holders, so this is a good option for experienced, higher volume traders looking for ECN, zero-spread trading. That said, the lack of regulation is a notable concern and the broker's market coverage is weak compared to alternatives."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, commodities, cryptos, stocks
  • Platforms: MT4
  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Leverage: 1:1000

Pros

  • The broker offers some extra features to enhance the trading experience, including in-depth market analysis and educational resources
  • The straightforward copy trading service will suit beginners or improving traders, with just a $100 minimum deposit to get started
  • There’s a good range of day trading tools available, including a VPS, calculators, live signals and an economic calendar

Cons

  • Minimum spreads in the Standard account are 2 pips, which is wider than equivalent accounts at many competitors - Vantage, for example, offers minimum quotes from 1.1 pips
  • The lack of strong regulatory oversight is a major concern as clients will receive limited safeguards
  • With only around 100 instruments, NordFX’s market coverage is uncompetitive vs most alternatives

#7 - Axi

Why We Chose Axi

Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.

"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies
  • Regulator: FCA, ASIC, DFSA, FMA
  • Platforms: MT4, AutoChartist, DupliTrade
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:400

Pros

  • The $0 minimum deposit, zero-commission pricing structure, and user-friendly copy trading service will appeal to beginners
  • The broker's inactivity fee terms are fairly generous, only charging a $10 fee after a long inactivity period of 12 months - some brokers charge after only 3 months
  • Experienced traders can benefit from the Axi Select funded trader programme, offering funding up to $1 million and up to 90% profit share

Cons

  • The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
  • The tightest round-trip commission fees of $3.50 are only available to those who can deposit $25,000
  • The Axi Select program requires a $500 minimum deposit to enter the first Seed stage

#8 - SuperForex

Why We Chose SuperForex

Established in 2013, SuperForex is an offshore CFD and forex broker offering highly leveraged trades on 400+ instruments via the popular MetaTrader 4 platform. The broker has gained clients in over 150 countries and is regulated by the Belize IFSC. With a range of STP/ECN account types, including swap-free, micro and zero spread, this broker continues to suit traders with different styles and setups. SuperForex also offers a range of welcome bonuses and trading contests.

"SuperForex will suit experienced traders looking for high leverage rates and premium membership packages. The broker also continues to stand out for its wide selection of beginner-friendly accounts, although the lack of top-tier regulation is a notable drawback."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Cryptos, Commodities
  • Regulator: IFSC
  • Platforms: MT4
  • Minimum Deposit: $1
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:2000

Pros

  • Various accessible payment methods are supported, including crypto, with zero fees and fast processing times
  • Traders can receive 5% annual interest on their account equity - a great way to earn passive income
  • There’s a good range of STP and ECN account types to choose from, as well as crypto and cent accounts

Cons

  • The Belize IFSC is not considered a top-tier regulatory provider, so clients may receive fewer financial safeguards
  • The 0.5-pip minimum spreads in the standard ECN accounts are not as tight as some of the cheapest ECN brokers, such as Pepperstone

#9 - CloseOption

Why We Chose CloseOption

CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software.

"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."

- DayTrading Review Team
  • Instruments: Binary Options on Forex & Cryptos
  • Regulator: National Bank of Georgia
  • Platforms: Own
  • Minimum Deposit: $5
  • Minimum Trade: $1

Pros

  • New traders can get started with a $5 minimum deposit
  • The user-friendly platform is compatible with most web browsers
  • Multiple global payment methods are available

Cons

  • Binary options are only available on fiat and digital currencies
  • Clients need to deposit $50,000+ to qualify for the best payouts
  • CloseOption is not regulated by a well-regarded trading authority

#10 - Grand Capital

Why We Chose Grand Capital

Grand Capital is a MetaTrader broker with welcome bonuses, trading competitions and an intuitive copy trading service. Several account types and 400+ assets provide trading opportunities for various types of investors and strategies. New users can also open an account and start trading in a matter of minutes.

"Grand Capital is a good broker for traders familiar with MetaTrader plus passive investors interested in copy trading and LAMM solutions. On the downside, the broker's regulatory credentials lag behind competitors."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options
  • Regulator: FinaCom
  • Platforms: MT4, MT5
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • GC Invest platform for copy trading
  • Fast and easy account opening
  • Full range of investments including dedicated GC Option brand for binaries

Cons

  • Basic education and market research
  • High spreads on some assets
  • Limited regulatory oversight

What Are Trading Demo Competitions?

Trading demo competitions are a more fun way to earn money trading on the forex, cryptocurrency and commodity markets without staking any real money. Through these tournaments, brokers provide demo accounts to traders who try to make as much profit as possible in a set amount of time. Some brokers may measure performance in different ways, such as profitability/risk ratio. Demo trading applies live market prices and is carried out on genuine trading platforms to mimic real trading as accurately as possible.

Once a competition has begun, traders must do their best to generate profit by trading their demo funds on the financial markets offered by the broker, be they ETFs, CFDs or stock indices. Competitions will often have specific sets of rules to follow, presenting unique challenges to clients by varying leverage limits, automated trading, assets and more.

Brokers offer tournaments with durations that can range from a single trading day to month or year-long contests. The best trading demo competition prizes will often be for the longer periods of competition but there can be good prizes on offer for shorter contests too. Prizes are assigned after competitions close and trading results are finalised based on a leaderboard of the highest scoring traders. Rewards are not only for winners, though, with some of the biggest trading demo competitions paying out across ten leaderboard places.

How Do Trading Demo Competitions Work?

Entering A Demo Competition

Trading demo competitions will often have a window in which traders can sign up to take part, which can often be around a week. Before entering a tournament, potential competitors can look at the rules and terms and conditions of the tournament as well as the offered prize fund. Entrants should read the rules carefully to ensure they are fair and reasonable. Additionally, the biggest trading demo contests will allow competitors to see the size of the field and the historical data from previous competitions.

It is normally a straightforward process to sign up for a competition, though some brokers that run trading demo competitions require entrants to possess a live trading account with them to qualify. Many tournaments will also be locked to a set trading platform to ensure a level playing field, so entrants should make sure they are familiar with the specific software.

Demo Account Is Assigned

Each competition entrant is provided with a fresh demo account shortly before the competition starts supplied with a fixed amount of demo capital to trade with. The account might have limits on available trading leverage in line with competition rules or it may be up to traders to independently ensure that they do not break tournament regulations.

Competition Opens

At a set time, the competition will open and traders will have until the competition ends to make as much profit as they can. Trading demo competitions from different brokers will often have their own sets of rules, with some limiting the total number of trades allowed, amount of leverage, the use of EAs and available trading assets.

Performance Tracking

Once the trading demo competition is underway, entrants will want to know how they are performing and how their gains or losses stack up against others. The biggest tournaments provide leaderboards where traders can measure their performance against their competitors’ trades. Entrants can quickly see if they are in a prize-winning position and how aggressively they need to trade if not. Performance data is often also available from past trading demo competitions to give users an idea of the kind of returns that are required to finish in a winning position at the end of the competition.

Competition Ends

At the competition close time, all open trades will automatically be closed and no more trading is allowed. The amount in each demo account at this time is final and will be used to calculate a trader’s leaderboard position and potential prize eligibility.

Final Leaderboard Published & Prizes Allocated

Once all trading has ceased o, profits are finalised for each user. The final rankings of all competition entrants are now decided with prizes awarded to entrants based on these rankings. Rewards are often either in the form of withdrawable cash or trading credit to be used on the broker’s site. The former is often more appealing to entrants but the latter can also be useful and is generally worth more. If a trader is comfortable with the platform and trusts the broker, this credit can be used to generate more profit and then be withdrawn later.

Entrants can be disqualified for breaking competition rules either before the final leaderboard is published or afterwards. Traders that narrowly missed out on prize positions should check back in case someone above them drops out.trading demo competitions with real money prizes

Advantages Of Trading Demo Competitions

Drawbacks Of Trading Demo Competitions

Here are a couple of reasons why traders may be put off trading demo competitions:

What To Look For In Brokers That Offer Trading Demo Competitions

If you decide that trading demo competitions are something you’d like to try, then many brokers offer monthly, weekly or even daily tournaments. Here are some things to look for when selecting a broker to compete in demo tournaments:

Authenticity & Reliability

When signing up with any broker for a trading demo competition or otherwise, you should first ensure that the broker is trustworthy and reliable. This is especially important for firms who pay their prizes in trading credit because traders will have to use their platform to wager their rewards.

Prospective clients should research brokers, looking at user reviews from external sources as well as recommendations or warnings from trusted websites. The biggest brokers that run trading demo competitions will often be regulated by an independent governing body, so look out for such certification as an indicator of authenticity.

Important aspects of a broker include the reliability of deposits and withdrawals, safe holding of client funds and stability of the platform.

Prizes & Structure

Naturally, traders will be drawn towards the biggest trading demo competition prizes when browsing brokers. The largest tournaments can offer prize funds worth thousands of dollars, which is an appealing prospect for entrants.

As well as the size of a prize fund, it is also worth checking out the reward structure of each competition. More leaderboard places being paid means a higher chance of winning but also a smaller share of the fund for each winner. You should choose carefully between these factors, depending on your priorities.

Depth Of Field

Another key aspect when choosing whether to enter a specific trading demo competition is the depth of field. While larger prize pools are attractive to individual traders, this will likely increase the number of competitors for a prize. Theoretically, traders will have a better chance at winning with a smaller field, so each entrant has to find a balance between the prize pool and the depth of field.

Information on the number of entrants may be available during the sign-up phase to a competition. Alternatively, most competitions will display past leaderboards showing how many entrants there have been in each contest historically.

How Winnings Are Paid Out

An important factor for traders to consider when looking for brokers that offer trading demo competitions is how the prizes are paid out. Some firms will pay prizes in cash or withdrawable funds while others will pay out in trading credit on their platform. Such funds will need to be traded before being withdrawn. You need to decide whether you are willing to jump through these extra hoops before withdrawing your funds.

Available Trading Platforms

To ensure fairness or to promote a particular trading software, trading demo competitions are often locked into a specific platform. Some of these will be platforms experienced traders are familiar with, such as MetaTrader 4 or MetaTrader 5. Others may be unfamiliar or bespoke to brokers. You should ensure that you are familiar with the trading platforms that contests use or are willing to learn quickly during the competition.Top trading demo competitions

Other Aspects To Consider

Now that you are familiar with the intricacies of trading demo competitions, as well as informed with what to look out for in brokers, you are ready to compete. Here are a few additional things to keep in mind:

Final Word On Trading Demo Competitions

Trading demo competitions draw many people in with their offer of risk-free trading experience and tantalising prizes. Such tournaments are available for almost all forms of financial instruments, from forex and CFDs to cryptocurrency forwards and binary options, providing a little something for everyone. The best trading demo competitions have prize pools worth thousands or tens of thousands of dollars, comprised of pure cash, trading credit or physical items. For experienced traders, the largest tournaments offer a chance to compete with the best around, while beginners can benefit from its risk-free provision of experience.

FAQs

Which Assets Can Be Used In Trading Demo Competitions?

Trading demo contests mainly take place on the forex markets but can also cover cryptocurrency, commodities, CFDs and shares trading. Specific contests may impose limitations on the instruments and assets you are allowed to use, removing some currency pairs, for example, or even whole asset classes.

Can You Make Money From Trading Demo Competitions?

The best trading demo competitions feature monetary prizes ranging from hundreds to thousands of dollars for those who score highly on the leaderboards. It is very possible to make money from tournaments, with up to the top ten leaderboard positions usually taking home a share of the prize pool.

Are Trading Demo Competitions Free?

There is no cost to enter trading demo competitions but some brokers may require entrants to have registered a real money trading account with them first.

Can I Use EAs To Help Me In Trading Demo Competitions?

Whether entrants are allowed to use EAs in trading demo competitions depends on each broker’s specific rules for their contests. There is a good range of brokers that allow EA assisted trading as well as plenty that prohibit it.

How Many People Enter Trading Demo Competitions?

The biggest trading demo competitions often have thousands, if not tens of thousands of competitors. Entrants are drawn in by large prize funds, so look for smaller rewards if you wish to compete against fewer traders.