Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This page is general information, not financial advice. Advertiser disclosure.
Pepperstone offers the most complete FCA-regulated forex demo account in the UK, with a customisable practice balance across MT4, MT5, cTrader and TradingView. A demo account lets you trade live market prices without risking real money, using virtual funds, before you commit to a live account.
Which forex demo account is best in the UK?
Pepperstone has the best forex demo account in the UK, covering all four major platforms with a practice balance you set yourself. CMC Markets, Plus500, eToro and OANDA all run unlimited demos, and Trade Nation’s fixed-spread demo prices exactly like its live account. Pick the demo that runs the platform you plan to trade.
Ranked on how closely each demo mirrors the live account you would actually trade, judged on platform coverage, a realistic practice balance and duration. It is not a ranking of our overall broker scores, so a simpler broker can sit above a higher-scoring one here.
- Pepperstone: demos on all four major platforms, balance you set.
- CMC Markets: unlimited demo, realistic practice balance near £10,000.
- Plus500: unlimited demo on the simplest platform here.
- eToro: unlimited demo with the full copy-trading features.
- OANDA: unlimited demo across OANDA web, OANDA mobile, MT4, MT5, TradingView.
- Trading 212: practice mode inside a most-downloaded UK app.
- Trade Nation: fixed-spread demo, practice pricing matches live.
Demo account comparison table
Practice balances are virtual funds, not real money, and are shown in rough GBP terms. All seven demos are free. We open and test every FCA-regulated broker on this page with a live, GBP-funded account, and the demo terms in the table are a desk-based assessment of each broker’s published UK terms.
| # | Broker | Demo length | Practice balance | Platforms | Visit broker | More details |
|---|---|---|---|---|---|---|
| 1 |  Pepperstone#1 Top demo account | 30 days, renewable | ~£50,000, customisable |  MT4 MT5 cTrader TradingView+1 more platforms, listed in this broker's detailsMT4, MT5, cTrader, TradingView, proprietary | Visit Pepperstone | |
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| 2 |  CMC Markets | Unlimited | ~£10,000 | Next GenerationMT4 | Visit CMC Markets | |
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| 3 |  Plus500 | Unlimited | ~£40,000 | Plus500 WebTrader | Visit Plus500 | |
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| 4 |  eToro | Unlimited | ~£100,000 (US$100,000) | eToro app and web | Visit eToro | |
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| 5 |  OANDA | Unlimited | ~£100,000 | OANDA webMT4MT5TradingView+1 more platforms, listed in this broker's detailsOANDA web, OANDA mobile, MT4, MT5, TradingView | Visit OANDA | |
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| 6 |  Trading 212 | Unlimited | ~£50,000 | Trading 212 app and web | Visit Trading 212 | |
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| 7 |  Trade Nation | Unlimited | Not publicly stated | TN Trader | Visit Trade Nation | |
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Demo length, practice balance and platform details were captured from each broker’s UK website on 10 July 2026. Brokers change demo terms without notice, so confirm the current terms before signing up.
Each demo below is free and comes from an FCA-regulated broker with FSCS cover. CFDs carry a high risk of loss and most retail accounts lose money once trading live, so treat the practice run as preparation, not a guarantee.
1. Pepperstone: every platform, your balance
CFDs carry high risk. Retail leverage is FCA-capped.
- Average spread
- 0.1 pips avg, Razor (raw), tested July 2026
- Trading platforms
- MT4, MT5, cTrader, TradingView
- Minimum deposit
- £10
- Regulation
- Pepperstone Limited (FRN 684312)
◎ Standout: the only demo in this set that runs all four major platforms, with a balance you set yourself.
Why we recommend Pepperstone
Pepperstone Limited (FRN 684312) is the only broker here whose demo covers all four major platforms, so you can trial MT4 against cTrader against TradingView before committing. You can also set the practice balance to match what you will actually fund, which keeps position sizing honest.
The 30-day limit is the catch. It renews on request, but an unlimited demo elsewhere removes that friction. For most traders the platform choice is worth the extra step.
Pros & cons
- Demos on MT4, MT5, cTrader and TradingView
- Customisable practice balance for realistic position sizing
- Demo pricing tracks the live Razor account, confirm current terms
- The 30-day demo needs renewing on request
- Raw-account pricing adds complexity for a first demo
- No simple one-tap proprietary app
2. CMC Markets: the realistic unlimited demo
CFDs carry high risk. Retail leverage is FCA-capped.
- Average spread
- 0.65 pips avg, FX Active (raw), tested July 2026
- Trading platforms
- Next Generation, MT4
- Minimum deposit
- £0
- Regulation
- CMC Markets UK plc (FRN 173730)
◎ Standout: a genuinely useful default balance rather than a fantasy million.
Why higher here? Demo Fit weights demo length, practice conditions and platform access, which lifts CMC Markets above its #6 sitewide position. See the ranking method ↓
Why we recommend CMC Markets
CMC Markets UK plc (FRN 173730) gives its demo a practice balance near £10,000 rather than a fantasy million, which sounds stingy and is actually the point: you practise at the scale you will trade. Next Generation's full charting is available in demo, with no time limit, so the platform's learning curve costs nothing.
The depth that makes it valuable also makes it slower to learn than Plus500 or eToro. Traders who want a realistic balance and full charting without a clock running get the most from it.
Pros & cons
- Unlimited demo duration
- Realistic default balance near £10,000
- Full Next Generation charting available in demo
- Default balance may not be customisable, confirm with CMC
- Platform has a real learning curve
- No MT5 demo path
3. Plus500: simplest practice environment
CFDs carry high risk. Retail leverage is FCA-capped.
- Average spread
- 0.8 pips avg, Retail CFD (spread-only), tested July 2026
- Trading platforms
- Plus500 WebTrader and app
- Minimum deposit
- £100
- Regulation
- Plus500UK Ltd (FRN 509909)
◎ Standout: the smoothest demo-to-live switch, because both run inside the same app.
Why higher here? Demo Fit weights demo length, practice conditions and platform access, which lifts Plus500 above its #25 sitewide position. See the ranking method ↓
Why we recommend Plus500
Plus500UK Ltd (FRN 509909) runs an unlimited demo that is a one-tap switch inside the same app as the live account, which makes the demo-to-live transition the smoothest here. The pricing you practise with is the same markup model you will pay live.
The platform's simplicity means there is less to learn, and less to grow into. It suits a first demo more than a long-term home for an active trader.
Pros & cons
- Unlimited demo inside the live app
- Same spread-only pricing model as the live account
- Easiest platform to learn in this set
- No MetaTrader demo path
- A large default balance encourages oversized practice trades
- CFD-only, so no share investing to practise
4. eToro: practise copy trading risk-free
CFDs carry high risk. Retail leverage is FCA-capped.
- Average spread
- 1 pips avg, Retail (spread-only), tested July 2026
- Trading platforms
- eToro app and web
- Minimum deposit
- US$50
- Regulation
- eToro (UK) Ltd (FRN 583263)
◎ Standout: the full CopyTrader feature set works in the demo, risk-free.
Why higher here? Demo Fit weights demo length, practice conditions and platform access, which lifts eToro above its #27 sitewide position. See the ranking method ↓
Why we recommend eToro
eToro (UK) Ltd (FRN 583263) includes the full CopyTrader feature set in its unlimited demo, so you can test copying real strategies with virtual money, which is one of the most useful things a beginner can rehearse.
The virtual balance runs to roughly US$100,000, far above a realistic first deposit, so size positions as if the account were a few hundred pounds, not six figures. The environment is USD-based, so factor in conversion when you go live.
Pros & cons
- Copy trading works in the demo
- Unlimited duration
- Same app as the live account
- Oversized default balance encourages unrealistic sizing
- USD-based environment differs from a GBP live reality
- Spreads are among the widest in this set
5. OANDA: multi-platform demo, no live minimum
CFDs carry high risk. Retail leverage is FCA-capped.
- Average spread
- 0.94 pips avg, Standard CFD (spread-only), tested July 2026
- Trading platforms
- OANDA web, OANDA mobile, MT4, MT5, TradingView
- Minimum deposit
- £0
- Regulation
- OANDA Europe Limited (FRN 542574)
◎ Standout: an unlimited multi-platform demo with the easiest graduation path here.
Why lower here? Demo Fit weights demo length, practice conditions and platform access, rather than the all-round strengths behind OANDA's #2 sitewide position. See the ranking method ↓
Why we recommend OANDA
OANDA Europe Limited (FRN 542574) pairs an unlimited demo across its own web and mobile platforms plus MT4, MT5 and TradingView with an easy graduation path: OANDA lists no minimum deposit on the live account, so a first funded account can be as small as the demo taught you to trade.
Like eToro, the default virtual balance is unrealistically large, so set your own mental cap. The platform choice is a strength once you know which one you want, and a distraction before then.
Pros & cons
- Unlimited demo across OANDA's own platforms plus MT4, MT5 and TradingView
- No minimum deposit on the live account to graduate to
- Demo tracks the live platforms closely, confirm current terms
- Large default balance needs a self-imposed cap
- No cTrader
- The breadth of platform choice can overwhelm a first-timer
6. Trading 212: practice mode in a popular app
CFDs carry high risk. Retail leverage is FCA-capped.
- Average spread
- 1.4 pips avg, CFD (spread-only), tested July 2026
- Trading platforms
- Trading 212 app and web
- Minimum deposit
- £1
- Regulation
- Trading 212 UK Ltd (FRN 609146)
◎ Standout: practice mode inside the app many UK beginners download first.
Why higher here? Demo Fit weights demo length, practice conditions and platform access, which lifts Trading 212 above its #19 sitewide position. See the ranking method ↓
Why we recommend Trading 212
Trading 212 UK Ltd (FRN 609146) puts a practice mode inside the same app many UK beginners already download first. Every chart, order type and market in the live app is available in practice mode, so nothing changes at the switch except the money.
Trading 212 is FCA-regulated with FSCS cover, and a live Invest account opens from a very low amount. CFD pricing in practice mode is designed to track live pricing, though you should confirm current terms. The app suits practising investors and casual CFD users more than heavy MetaTrader traders.
Pros & cons
- Practice mode uses the same app as the live account
- Every chart, order type and market carries over to live
- A live Invest account opens from a very low amount
- Best for investors and casual CFD users, not heavy MetaTrader traders
- Demo terms need confirming before you rely on them
- Proprietary platform only, no MT4 or MT5
7. Trade Nation: fixed-spread demo that prices like live
CFDs carry high risk. Retail leverage is FCA-capped.
- Average spread
- 0.5 pips avg, TN Trader (fixed spread), tested July 2026
- Trading platforms
- TN Trader
- Minimum deposit
- £0
- Regulation
- Trade Nation Financial UK Ltd (FRN 525164)
◎ Standout: a fixed-spread demo, so practice pricing equals live pricing.
Why higher here? Demo Fit weights demo length, practice conditions and platform access, which lifts Trade Nation above its #26 sitewide position. See the ranking method ↓
Why we recommend Trade Nation
Trade Nation Financial UK Ltd (FRN 525164) runs its demo on the TN Trader platform with the same fixed spreads as its live accounts. Fixed pricing removes the most common demo-to-live gap, where variable live spreads widen beyond what practice showed. Traders who value that certainty can compare it against our fixed spread forex broker guide.
The demo has no expiry, and a live account has no minimum deposit, so graduating is low-friction. Trade Nation is FCA-regulated with segregated client funds. The market range is narrower than CMC's or IG's, which is the trade-off for the pricing certainty.
Pros & cons
- Fixed spreads mean demo pricing matches live pricing exactly
- No demo expiry to work around, confirm current terms
- A live account has no minimum deposit
- Narrower market range than CMC or IG
- One main platform, TN Trader
- Demo virtual balance is not publicly stated
What makes a good demo account?
Three things separate a useful demo from a sales tool. It should run the full platform you plan to trade on, whether that is MT4, MT5 or a broker’s own app, not a stripped-down version. The spreads it quotes should sit close to the live account, so the costs you practise with are realistic; variable-spread demos can understate real trading costs during volatile sessions, which is why fixed-spread brokers such as Trade Nation are worth a look, because the demo spread and the live spread are the same number. It should also last long enough to matter, whether that is an unlimited demo or one you can renew. A demo that gives you a fortune in fake money on a simplified platform teaches the wrong habits. Practise with realistic costs: one pip on a 100,000 unit lot is close to £8, and you can calculate pip value for any pair before going live.
How to use a demo account properly
Treat the demo like a real account, or it teaches you nothing useful. Set a practice balance close to what you will actually fund, not the maximum on offer, so your position sizing is realistic. Trade the pairs and sizes you intend to trade live. Keep a record of why you entered and exited each trade. Run it for a few weeks before going live, long enough to see how you behave across a winning run and a losing one. If you are still choosing where to start, our guide to beginner-friendly brokers covers the accounts that suit a first live deposit. Once your demo results hold up over a few weeks, move to the FCA-regulated broker rankings to pick a live account. Set the practice size you will actually trade live, and work out position size from a 20 pip stop and 1% risk so the habit carries over.
Demo vs live: what changes
This is the part most demo guides skip, and it matters. On a demo, fills are often instant and slippage is mild, so a live account can feel slower and less forgiving. Spreads on a demo may not always match the live market under stress. The biggest difference is emotional: risking real money changes how you size, when you exit, and how you handle a loss. A trader who is profitable on demo and loses live has usually run into that gap, not a strategy fault. When your demo results hold up, the live accounts to graduate to are ranked in our CFD broker guide. A 30 point move at £2 per point is £60 either way, and the CFD profit calculator shows the result of a demo trade before you risk real money.
Compare brokers by the factor that decides it
The demo is step one; the broker you graduate to matters just as much. Start from the factor that decides it for you.
You are starting out
Simple platforms and demo accounts to learn on before any money is at risk.
The platform decides it
Pick your trading software first, then compare the brokers that carry it.
Cost decides it
The same trade costs different amounts on different account types. These lists rank on the all-in figure.
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About the author
Justin Grossbard is the co-founder and CEO at CompareForexBrokers. He has traded forex since 1998, leads UK broker research and has personally reviewed every FCA-regulated broker on this site. His work has appeared in Forbes, Kiplinger and Finance Magnates, and he holds a Bachelor of Commerce (Honours) and a Master of Marketing.