FREE FOREX DEMO TRADING ACCOUNT
Open a FREE LIFETIME paper trading account with an online Forex Broker
"You cannot trade or access the Forex markets without a Forex broker. A broker provides access to the market via a trading platform.
This page will help you to open your first FREE trading account. It will help you to start practicing.
Feel free to email me any questions
My recommended demo trading accounts are with online Forex brokers that
- Are easy to use
- Offer reliable trading platforms
- Do not have aggressive sales tactics
- Provide unlimited free demo trading with lifetime access
- Are highly regulated and offer a transparent trading service
- Offer both desktop and mobile app trading
Just use the links below to get started
How to open a demo account and start trading with an online Forex broker
Step 1 - Open a FREE demo trading account
The Forex brokers I recommend are IC Markets and Darwinex. Both are well-regulated. They will not require your card details to open a demo trading account. Just click on the links below. If you are still deciding which broker to use, I suggest IC Markets.
Once the account is open, you should receive demo login details by email. These credentials are for your brokerage account online portal.
Step 2 - Open a MetaTrader 4 (MT4) Account
Once logged into the brokerage online portal, request a demo trading account. Some brokers open a demo trading account for you upon registering. If your broker has, you should have received an email about this.
To open a practice account, click on the relevant option. It may be under 'accounts' or 'trading accounts.' Look for a button that states 'demo account.'
When opening the demo account, options may exist regarding which trading platform to choose. I suggest MT4. This is the most popular Forex trading platform for Forex traders.
You will be asked about account leverage. Choose somewhere around 1:30. This is the industry standard. More about leverage will be explained later on my website.
You will also be asked about account currency and account type. The account currency is your choice. I suggest your local currency. The account type should be 'Raw Spread' or 'Standard.'
Step 3 - Download MetaTrader 4 (MT4)
Once the demo trading account is requested, you will receive an email confirmation with login details. These login credentials are for the virtual MT4 trading account. They are different from your brokerage online portal login details. They will include an account name, a password, and a server.
Alternatively, you can download the MT4 app and log in on your phone, mobile, or tablet.
Step 4 - Sign in to MetaTrader and Start Trading
Make a note of your MT4 login details. Open MetaTrader. Click on the coloured bars at the bottom right of the platform. There should be a login option. Enter your login details (account number, server, and password). It can take up to 30 seconds for the login to process.
You are now good to go!
If you want to learn how to navigate the MT4 trading platform, then I have a free MT4 trading guide.
Not ready to start trading demo? Consider free online charting software
If you aren't ready to start trading on a demo trading account, open a free basic account with TradingView.
TradingView offers price charts for free. Their price charts for Forex are great!
You can practice technical analysis and get a feel for the markets.
You can open a free basic account by clicking on the logo below...