CFD Trading Demo Account Comparison | Test for free

Are you looking for a free and unlimited CFD demo account? – Then you are exactly right on this page! With more than 7 years of experience in the CFD trading scene I present you in the following table the top 5 demo accounts for beginners and advanced traders. Also inform yourself about the important features of a demo account and learn from my experiences in the following texts.

Characteristics of a good CFD Demo Account

When choosing a CFD demo account, the provider plays a very important role. The demo account does not always reflect reality. In addition, you should pay attention to the conditions of the CFD broker when choosing, because you want to start with real money even after the practice phase. For a beginner, the decision is not always easy, which is why I have created this page.

I have paid attention to the following points during my testing and comparison to find the perfect CFD demo account. In the table above you will find 5 top providers that meet these criteria.

Criteria for a good CFD Demo Account:

  • The provider is regulated and licensed
  • The CFD demo account is free and unlimited
  • Favourable trading fees and competitive spreads
  • Professional support and service also for demo accounts
  • Wide range of assets
  • The execution simulates real money trading

What is a CFD Demo Account?

A CFD demo account is an account with virtual credit. It imitates with “play money” the trade with real money. You can use it to simulate trading transactions or to test new strategies and markets. Overall, the practice account is best suited to try out a CFD broker and decide on a suitable provider.

Fees and trade executions can be tested comfortably in the demo account before the first deposit is made.

Gain your first experience with CFD trading

With a free CFD demo account you have no time pressure and can collect your first experiences in peace. I recommend it especially to beginners to practice trading in the demo account and not to start too fast with real money trading.

The trader should have made a profit in the demo account for a few weeks before he makes his first real money trade. Gain experience with new strategies and develop your own. The trading platforms of CFD brokers offer you many tools and analyses. For a beginner the abundance of information is usually very confusing, which is why the demo account has its advantage here.

Demo account vs. real money trading

However, there are serious differences between the demo account and real money trading. The execution and handling is the same for both regulated and serious CFD brokers, but the trader is exposed to stronger emotions in real money trading. In the CFD demo account the trader does not risk money. Many traders are emotionally attached to their money because they have worked hard for it.

Emotions must be suppressed in CFD trading to become successful in the long run. Fear or greed are two very bad emotions in trading. Depending on the size of the position this emotion can become stronger and stronger and lead to wrong decisions.

In summary, trading in both accounts is difficult to compare. Every trader reacts differently when trading for real money. In the end it is up to you personally.

Prevent emotions: The transition to real money trading

Many traders fear emotions or blame them for their losses. To prevent negative emotions, I can tell you a few simple tricks from my experience:

Risk management:

My experience has shown that the trader becomes highly emotional when using the wrong risk management. This means that many traders override their account and risk too much. If you use a sensible risk management and stick to it in the long run. Then you will have hardly any emotions. You have to set yourself certain rules.

Many hedge funds and also big traders have a maximum size of 1 – 2% of the total account per position. Not more than 1 – 2% is risked. This risk management allows you to handle your positions conscientiously.

Set a loss limit:

If you do day trading it is helpful to set a daily loss limit. If you reach this loss limit, you may not continue trading. This can prevent enormous wrong decisions.

CFD DEMO ACCOUNT TRADING PLATFORM UNDER TEST

What can a CFD trading platform offer? – Most CFD brokers offer the worldwide known Metatrader 4/5. This is a universal trading platform for various financial products. It is available for any device and you only need one login.

The Metatrader is equipped with numerous functions for analysis and interpretation of charts. Own strategies can be developed very fast. Also external tools can be inserted easily. Depending on the trading style you can configure and adapt really “everything” independently. Use free indicators or drawing tools for technical analysis.

If you have a little programming knowledge, this software can also be used to design automatic programs depending on the strategy. In summary the Metatrader is suitable very well for the CFD demo account and all my recommended providers have this software in the portfolio.

Advantages of the Metatrader:

  • Available for every device
  • You need only one login
  • Free indicators and analysis tool
  • Automatic trading possible
  • User-friendly and individually adaptable

Open your CFD Demo Account

A CFD demo account takes only a few seconds to open today. You only need a few personal details and you can already access the trading platforms directly. I recommend that you use your correct data if you want to start trading real money later. Real money trading is only allowed by the broker for verified traders.

Educate yourself further in the CFD Demo Account

Knowledge is the key to success in CFD trading. Many brokers offer a professionally developed training and learning center. Additionally, webinars, coaching or analyses are also offered. These options are also available for traders in demo accounts and you can train yourself in peace.

In the CFD demo account you can also benefit from the training materials of the brokers:

Glossary and FAQ:

Frequently asked questions are answered here or trading terms are explained here. You can look up any trading word and expand your knowledge in a few seconds.

Trading Tutorial:

Many CFD brokers offer tutorials on how to use the trading platform. Mostly this is done by video recording. If you are a complete newcomer, then you should definitely watch these videos. Furthermore, can be pointed to strategies for trading.

Webinars:

Take part in free webinars. Coaches discuss the latest market news with you or show you tips and tricks for trading. In my opinion, webinars are the best way to learn more.

1 to 1 coaching sessions:

Only a few brokers offer this service. Get a complete personal trading guide for the platform. This is also only possible with a demo account.

My conclusion about the CFD Demo Account Comparison 2020

Almost every CFD broker offers a free and unlimited CFD demo account in 2020. In the table above I have presented you my top 5. They offer the best overall package of wide choice of markets, competitive spreads and good service.

The demo account is best suited to gain your first experience in trading contracts for difference. CFDs are not an easy to understand financial product, so as a beginner you need a little practice. The practice account should be used to train your own skills and learn how to use the trading platform.

Comprehensively, the trader can also train himself in the learning centers of CFD brokers and thus increase his skills. In summary, the demo account is one of the most important accounts for a beginner and advanced trader.

Good luck with your trading!

The best CFD demo accounts (read the full reviews):

  • GBE Brokers
  • BDSwiss
  • XTB
  • MARKETSX
  • IQ Option

Read my other articles about CFD Trading:

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