Quick verdict: the best forex demo accounts in Australia right now
I rate Pepperstone's demo as the best in Australia for active traders: 30 days, an AUD 50,000 virtual balance and the full platform stack from MT4 to TradingView, renewable. For raw-spread testing I would send you to IC Markets, and for multi-asset practice CMC Markets is my pick. This is an editorial comparison of broker-stated terms: balances and expiry come from each broker's published signup terms, and our availability records, re-read 1 October 2026, cover only some Australian offers. We have not systematically timed signup to first practice trade, and this is not a measured live-fill comparison. Focus Markets' offer is historical: it ceases operations 30 October 2026, per a notice supplied 1 October 2026.
- Pepperstone: 30-day demo, AUD 50,000, full platform stack.
- IC Markets: renewable 30-day demo for raw-spread testing.
- CMC Markets: unlimited demo with 12,000+ instruments.
- Plus500: unlimited demo, no card or ID needed.
- eToro: unlimited USD 100,000 demo with CopyTrader.
- OANDA: unlimited demo with MarketPulse research.
- FP Markets: 30-day renewable demo with share CFDs.
- IG Markets: unlimited demo with ProRealTime charting.
- Capital.com: unlimited demo with the Investmate app.
- Blueberry Markets: MetaTrader demo with 24/7 support.
- Focus Markets: ceases operations 30 October 2026 (notice supplied 1 October 2026).
Expiry and virtual balance change the practice value more than anything else, and they vary broker to broker, so check both before you open a demo.
Use a demo to test platform feel, position sizing and order types. It’s the wrong place to estimate your real-world P&L, and we’ll explain why further down.
Demo account comparison table
| # | Broker | Demo length | Virtual funds | Platforms | Instruments | Visit broker | More details |
|---|---|---|---|---|---|---|---|
| 1 | #1 Top demo account PepperstoneAFSL 414530 | 30 daysrenewable | AUD 50,000customisable |  MT4 MT5 cTrader TradingView+1 more platforms, listed in this broker's detailsMT4, MT5, cTrader, TradingView, proprietary | 90+ forex pairs, 1,200+ shares, indices, commodities, crypto | Visit Pepperstone | |
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| 2 |  IC MarketsAFSL 335692 | 30 daysrenewable | Customisable (default AUD 50,000) | MT4MT5cTrader | 60+ forex pairs, 2,000+ CFDs | Visit IC Markets | |
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| 3 |  CMC MarketsAFSL 238054 | Unlimited | Customisable (default AUD 10,000) | Next GenerationMT4 | 12,000+ instruments | Visit CMC Markets | |
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| 4 |  Plus500AFSL 417727 | Unlimited | AUD 40,000 | Plus500 WebTrader (proprietary) | 2,800+ CFDs | Visit Plus500 | |
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| 5 |  eToroAFSL 491139 | Unlimited | USD 100,000 | eToro app and web (proprietary) | Six asset classes, 3,000+ stocks | Visit eToro | |
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| 6 |  easyMarketsAFSL 246566 | Unlimited | AUD 10,000 | easyMarkets web/appMT4MT5TradingView | 270+ instruments | Visit easyMarkets | |
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| 7 |  FP Markets30-day renewable demo with share CFDsAFSL 286354 | 30 daysrenewable | Customisable | MT4MT5cTraderTradingView | 10,000+ CFDs | Visit FP Markets | |
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| 8 |  EightcapAFSL 391441 | 30 daysrenewable | Customisable | MT4MT5TradingView | 800+ instruments | Visit Eightcap | |
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| 9 |  OANDAunlimited demo with MarketPulse researchAFSL 412981 | Unlimited | AUD 100,000 | OANDA TradeMT4MT5TradingView | 70+ forex pairs, indices, metals | Visit OANDA | |
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| 10 |  Fusion MarketsAFSL 385620 | 30 daysrenewable | Customisable | MT4MT5cTraderTradingView | 250+ instruments | Visit Fusion Markets | |
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| 11 |  IG Marketsunlimited demo with ProRealTime chartingAFSL 515106 | Unlimited | Not stated | IG web platformMT4ProRealTime | 17,000+ markets13,000+ share CFDs | Visit IG Markets | |
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| 12 |  Capital.comunlimited demo with the Investmate appAFSL 513393 | Unlimited | Not stated | Capital.com WebTraderMT4MT5TradingView | 5,500+ instruments | Visit Capital.com | |
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| 13 |  Blueberry MarketsMetaTrader demo with 24/7 supportAFSL 535887 | Not stated | Not stated | MT4MT5Blueberry X app | 50+ forex pairs, indices, share CFDs, crypto, commodities | Visit Blueberry Markets | |
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| 14 |  Focus Marketsceases operations 30 October 2026 (notice supplied 1 October 2026)AFSL 514425 | 30 days (historical, broker-stated; ceases operations 30 October 2026) | Not stated | MT5 | 800+ CFDs | Closure notice Focus Markets | |
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Demo lengths and default balances are broker-stated figures from each broker’s published signup terms. Our availability records, re-read 1 October 2026, cover only some Australian offers, so not every broker or term here was checked against its signup flow. The Focus Markets row is historical: the broker ceases operations 30 October 2026, per a notice supplied 1 October 2026, and we did not time its signup.
Focus Markets ceases operations on 30 October 2026, according to a client notice Noam Korbl supplied to us on 1 October 2026. If you hold an account there, close your open positions and withdraw your funds before 30 October 2026, because all positions will be closed and accounts terminated by the end of that trading day. Residual funds remain withdrawable through Focus Markets Group after that date. Our funded Raw account was part of the 22 to 24 September 2026 capture, which measured 0.08 pips on EUR/USD and a 0.47 pip eight-pair average. The 30-day MT5 demo is a historical broker-stated offer, and I would not open a new account or demo with a broker that is winding down. If you are using the demo elsewhere on this page, treat it as practice before funding an account.
Watch: Best forex demo accounts.
Risk warning: CFDs are leveraged products and carry a high risk of loss. Most retail CFD accounts lose money. Review the broker's PDS and TMD before trading.
1. Pepperstone: best demo for active forex traders
I'd put Pepperstone's demo first for active forex traders. It runs across MT4, MT5, cTrader, TradingView and the Pepperstone web platform, so you can practise on whichever platform you intend to trade live, and the virtual balance lets you test order placement and platform workflow with no real money on the line. Demo terms are broker-stated, so confirm current conditions before you sign up. Pepperstone holds ASIC AFSL 414530.
Average spread
EUR/USD 0.10 pips (Raw, measured May to June 2026)
8-pair avg 0.46 pips (Raw, measured May to June 2026)
Trading platforms
MT4, MT5, cTrader, TradingView, Pepperstone Trading App
Minimum deposit
A$0
Regulation
ASIC AFSL 414530
Broker's Detail
Pepperstone has grown since its 2010 Melbourne founding into one of Australia's largest forex brokers, holding ASIC AFSL 414530 since 2013. It also holds Tier-1 licences with the FCA (UK), BaFin (Germany), CySEC (Cyprus), CMA (Kenya) and DFSA (Dubai).
I recommend the Razor (RAW) account: EUR/USD spreads from 0.0 pips with AUD 7 round-turn commission per standard lot. The Standard account is commission-free with EUR/USD from roughly 1.1 pips, but it's only for beginners. Across the five supported platforms, MT4, MT5, cTrader and the Pepperstone Trading Platform work on both accounts, while TradingView is available on the Razor account only, not on Standard.
Funding is fee-free via PayID, BPAY, card and PayPal. AUD-denominated accounts available. Retail leverage follows ASIC's standard retail caps, with negative balance protection and AFCA dispute coverage standard. Customer support runs 24/7 by live chat.
Pepperstone spread table (averaged over our May to June 2026 test cycle):
| Pair | Razor avg spread (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.10 | 0.45 | 0.55 |
| AUD/USD | 0.10 | 0.45 | 0.55 |
| GBP/USD | 0.20 | 0.45 | 0.65 |
| USD/JPY | 0.10 | 0.45 | 0.55 |
| EUR/GBP | 0.30 | 0.45 | 0.75 |
Broker Screenshots
2. IC Markets: best for raw-spread testing
I'd use IC Markets for raw-spread testing. Its demo runs across MT4, MT5 and cTrader, so you can practise on the platforms the Raw account supports, and it placed second in our demo comparison. Simulated orders are not an independent test of live execution, so treat the demo as platform practice rather than fill evidence. IC Markets holds ASIC AFSL 335692.
Average spread
EUR/USD 0.11, GBP/USD 0.24, AUD/USD 0.09 pips (Raw, measured September 2026)
8-pair avg 0.26 pips (Raw, measured September 2026)
Trading platforms
MT4, MT5, cTrader, TradingView
Minimum deposit
A$200
Regulation
ASIC AFSL 335692
Broker's Detail
IC Markets, founded in Sydney in 2007, is one of Australia's longest-running ECN brokers and has held AFSL 335692 since 2009. The Raw Spread account delivers EUR/USD spreads from 0.0 pips with AUD 9 round-turn commission (A$4.50 per side), while the cTrader RAW account bills USD 3.00 per USD 100,000 traded per side, converted to the account currency. The Standard account is commission-free with spreads from 1.0 pips.
Liquidity is sourced from 25+ Tier-1 banks and dark pools, delivering true ECN execution that suits scalpers and EA traders. MT4, MT5 and cTrader are available. Over 2,250 tradeable instruments span forex, indices, commodities, bonds, shares and crypto CFDs.
Minimum deposit is $200, higher than the $0 brokers in this list. Funding is fee-free via PayID, BPAY and card. Retail leverage follows ASIC's standard retail caps, with AFCA dispute coverage and negative balance protection.
IC Markets spread table (averaged over our September 2026 test cycle):
| Pair | Raw Spread avg (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.11 | 0.64 | 0.75 |
| AUD/USD | 0.09 | 0.64 | 0.73 |
| GBP/USD | 0.24 | 0.64 | 0.88 |
| USD/JPY | 0.15 | 1.01 | 1.16 |
| AUD/JPY | 0.41 | 1.01 | 1.42 |
Broker Screenshots
3. CMC Markets: best multi-asset demo
I'd point multi-asset traders to CMC Markets. Its unlimited demo on the Next Generation platform gives access to the full range of more than 12,000 instruments across forex, indices, commodities, shares and treasuries. It placed third in our demo comparison and does not expire. CMC has held ASIC AFSL 238054 since 2004.
Average spread
EUR/USD 0.08, GBP/USD 0.14, AUD/USD 0.08 pips (Raw, measured September 2026)
8-pair avg 0.56 pips (Raw, measured September 2026)
Trading platforms
Next Generation, MT4, CMC Stockbroking, TradingView
Minimum deposit
A$0
Regulation
ASIC AFSL 238054
Why higher here? Demo Fit weights how well the practice account rehearses real trading. CMC's demo never expires and covers the full 12,000-instrument range with platform parity to the live build, which lifts it above its #25 sitewide position. See the ranking method ↓
Broker's Detail
Founded in London in 1989 and operating in Australia since 2002, CMC Markets is one of the longest-tenured CFD brokers in the AU market. The AU entity holds AFSL 238054. The group is LSE-listed and also holds FCA (UK), BaFin (Germany), MAS (Singapore) and CIRO (Canada) licences.
Standard account spreads start from 0.5 pips on EUR/USD with no commission; FX Active pairs tighter spreads with a commission. CMC also runs a separate stockbroking service for direct ASX share investing. The Next Generation platform is paired with MT4 (no MT5 or cTrader on the AU entity).
$0 minimum deposit and fee-free AU funding via bank transfer, PayID and PayPal. Retail leverage follows ASIC's standard retail caps. Negative balance protection and AFCA dispute coverage standard. Customer support runs 24/5 by live chat, email and phone.
CMC Markets spread table (CMC Markets column: indicative standard-account pricing, not from our measured capture):
| Pair | CMC Standard (typical pips) | Avg of 8 measured standard accounts (September 2026) |
|---|---|---|
| EUR/USD | 0.5 | 0.83 |
| AUD/USD | 0.6 | 0.87 |
| GBP/USD | 0.9 | 1.20 |
| USD/JPY | 0.7 | 1.14 |
| EUR/GBP | 0.7 | 1.44 |
| EUR/JPY | 1.2 | 2.07 |
| AUD/JPY | 1.2 | 2.09 |
4. Plus500: best demo for absolute beginners
I'd recommend Plus500 for absolute beginners. It's an unlimited practice account that can be opened with just an email, no card or ID needed to start, on the same clean WebTrader interface as the live product. It placed fourth in our demo comparison. Plus500AU holds ASIC AFSL 417727.
Average spread
EUR/USD 1.0 pips (Standard, advertised, recorded 29 July 2026)
Trading platforms
Plus500 WebTrader, app
Minimum deposit
A$100
Regulation
ASIC AFSL 417727
Why higher here? Demo Fit weights demo length, practice conditions and platform access, which lifts Plus500 above its #10 sitewide position. See the ranking method ↓
Broker's Detail
Plus500 is London Stock Exchange-listed (FTSE 250) and ASIC-regulated under AFSL 417727 since 2012. It runs a markup-pricing model on a proprietary platform with no MT4/MT5/cTrader.
I'd point a complete beginner toward Plus500's demo because the spreads are baked into the price (no commission). The advertised EUR/USD spread is 1.0 pips, a Plus500 figure recorded 29 July 2026, not one we captured ourselves. The platform is deliberately simple: a single account type, a clean trade ticket and 2,800+ CFD instruments. Guaranteed stop-loss orders are available for a small premium.
The minimum deposit sits at $100. You can fund with no fee from Plus500 via card, Google Pay, PayPal, BPAY and bank transfer. Retail leverage follows ASIC's standard retail caps. AFCA dispute coverage and negative balance protection standard.
Plus500 spread table (Plus500 column: advertised, not from our measured capture):
| Pair | Plus500 advertised (pips) | Avg of 8 measured standard accounts (September 2026) |
|---|---|---|
| EUR/USD | 1.0 (recorded 29 July 2026) | 0.83 |
Broker Screenshots
5. eToro: best demo for copy trading
I'd use eToro for copy-trading practice. It's an unlimited demo with a USD 100,000 virtual balance on its own platform, allowing a trial of CopyTrader and Smart Portfolios and the full social feed before committing funds. There is no time limit on the practice balance. eToro holds ASIC AFSL 491139.
Average spread
EUR/USD 1.0 pips (Standard, advertised, recorded 6 June 2026)
Trading platforms
eToro Web, eToro App
Minimum deposit
US$50
Regulation
ASIC AFSL 491139
Why higher here? Demo Fit rewards rehearsing what you actually came to do, and this is the only demo here where copy trading itself can be practised. eToro's #27 sitewide score reflects its costs, not its demo. See the ranking method ↓
Broker's Detail
Founded in Tel Aviv in 2007 and operating in Australia since 2018 under AFSL 491139, eToro is the world's largest social trading platform with 30M+ registered users globally.
Direct share investing across US, AU, UK and EU exchanges sits on eToro's proprietary platform alongside forex and CFD trading, with unleveraged share trades at US$2 each. CopyTrader automatically replicates other traders' positions; Smart Portfolios bundle thematic baskets. There's no MT4, MT5, cTrader or TradingView trading.
Account currency is USD only, so AUD funding converts at deposit and withdrawal. $50 USD minimum deposit; funding via card, PayPal, bank transfer and select e-wallets. Retail leverage follows ASIC's standard retail caps. AFCA dispute coverage standard.
eToro spread table (eToro column: indicative standard-account pricing, not from our measured capture):
| Pair | eToro typical spread (pips) | Avg of 8 measured standard accounts (September 2026) | Lowest measured RAW account incl. commission (September 2026) |
|---|---|---|---|
| EUR/USD | 1.0 | 0.83 | 0.33 |
| AUD/USD | 1.0 | 0.87 | 0.33 |
| GBP/USD | 2.0 | 1.20 | 0.34 |
| USD/JPY | 1.0 | 1.14 | 0.58 |
| EUR/GBP | 1.5 | 1.44 | 0.33 |
Broker Screenshots
Honourable mentions
More demos worth knowing about, each with a specific use case:
- easyMarkets: unlimited demo with the easyMarkets fixed-spread platform. Right pick if you want to test the broker’s fixed-spread model and guaranteed stop-loss orders in a risk-free environment.
- FP Markets: 30-day demo across MT4, MT5, cTrader and TradingView. Strong for traders who want a Pepperstone-style platform stack with a slightly different commission structure.
- Eightcap: 30-day demo on MT4, MT5 and TradingView. Notable for the integration with TradingView.
- OANDA: unlimited demo with AUD 100,000 in virtual funds. The OANDA fxTrade demo includes the broker’s research suite, which is one of the strongest in the AU market.
- Fusion Markets: 30-day demo on MT4, MT5, cTrader and TradingView. The Fusion Zero account demo is useful if you’re cost-comparing against IC Markets and Pepperstone Razor.
- Mitrade: free demo with no expiry that opens in Demo mode showing A$50,000 at sign-up. Worth a look if you want to test the workflow on a demo that mirrors the live app before funding anything.
- Interactive Brokers: free paper-trading version of Trader Workstation, which takes two to four weeks of paper trading to learn. A sensible pick if you can commit that runway before going live.
What makes a good demo account
At first glance most demos look similar. The differences become obvious once you start using them.
Virtual fund size
A demo balance far larger than the intended live capital can teach the wrong lessons about position sizing. My suggestion is to practise with a virtual balance in the same ballpark as planned live capital, and to check whether the broker’s settings allow the balance to be changed. Some platforms permit adjustment; others start at a fixed default, so note that limitation when planning practice.
Results earned on an oversized virtual balance do not establish that a comparable live loss would be affordable for you. Keeping the practice balance plausible keeps the arithmetic honest.
Expiry
Demo expiry and inactivity conditions vary by broker and by platform. The table records each broker’s stated offer, not a universal guarantee of renewal or duration, so treat the listed terms as the starting point and confirm current conditions with the issuer before you rely on them.
Choose the practice window that suits the intended use. A shorter demo suits a focused evaluation before a decision; an open-ended one suits ongoing experimentation. Neither choice obliges a move to a funded account, and the right length depends on the purpose behind it.
Real conditions versus simulated conditions
I would look closely at how the broker describes the demo’s price feed, because a demo can establish the platform, the layout and the quoted prices, but simulated orders do not independently demonstrate live fill speed, liquidity venue or slippage. If a broker says its demo mirrors live conditions, treat that as a claim to check on a live account rather than a measured result. In my view the demo is for practising execution decisions, not for proving where or how fast your live fills happen.
A single difference between a demo quote and a live quote does not establish that the two use different price sources, and it is not evidence of misconduct. If you already hold records for both, compare equivalent instruments, account types and times of day. I would not open or fund a live account solely to run this comparison.
Platform parity
My preference is to check the specific order controls, charts and tools the process actually needs in the selected platform. Features available in a demo do not guarantee an identical live build or identical execution, so confirm anything the workflow depends on before committing money.
Check signup requirements
Signup requirements vary by broker and platform. Some ask for little more than contact details, others request identity information up front. A request for identity documents alone says nothing about quality or compliance, so what I would check is what information the chosen Australian entity asks for and whether the screen is explicitly a practice account.
Before signing up, check the terms of the chosen Australian entity: what information is requested, whether any payment details are sought, and whether the screen is clearly labelled as a practice account. Requirements differ between brokers, so confirm rather than assume, and treat any unexpected request as a question to put to the broker.
How to use a demo account properly
In my view the demo’s value is in testing your platform workflow and logging a reproducible process: the order types you use, the sizing you apply, the records you keep. Simulated profit is not a forecast of live returns, and a tidy demo record does not by itself establish anything about your future results.
Backtest your strategy
The MT5 Strategy Tester can test an Expert Advisor against historical data. The MT5 Strategy Tester documentation, checked 3 October 2026, distinguishes modelled ticks from broker-supplied real tick data, and the history available to you depends on the broker and server your account connects to. Check what history your chosen platform provides before relying on a backtest.
Interpretation depends on the backtest’s inputs: the data period, the tick modelling, the spreads and commissions assumed, and the costs applied. Any sample, whatever its size, cannot certify future profit, so treat the results as one input to your judgement rather than proof.
Simulate position sizing
Virtual tickets let you rehearse lot size and see the effect of your stop-distance and risk-input choices on the resulting position. My view is that this rehearsal is the practical value of a demo for sizing, not a substitute for deciding your own risk approach, and I do not recommend a specific risk percentage here.
Set the demo balance to an amount that is meaningful to you, then rehearse lot size with self-chosen inputs and track each practice trade in a spreadsheet. The goal is consistent, repeatable sizing, not virtual profit. I recommend pairing the demo with the position size calculator to set each lot from a personal risk-per-trade choice. On a practice ticket, calculate pip value and use the profit and loss calculator in AUD to keep the arithmetic in the currency intended for trading.
Practise the platform
The demo is where I’d stress-test the platform itself, because order types, hotkeys, charting layouts, alerts, trailing stops and partial closes all behave differently across MT4, MT5, cTrader, TradingView and proprietary platforms. Place a buy stop, modify it, partial close half, trail the rest, set an alert on a different chart, and verify everything fired as expected.
When you find yourself fighting the platform on the demo, I’d take that as a warning: you’ll fight it harder with real money. Switch platforms or switch brokers.
It’s not a money-printing simulation
Virtual capital carries no real loss, so the response to a losing practice trade may be quite different once money is at stake. In my view that gap is the demo’s main limitation, and it is a reason to treat simulated discipline as unproven rather than as evidence of live behaviour.
A profitable month on demo doesn’t predict a profitable month live. I treat the demo as a platform-and-process test, not a P&L forecast.
Transition to live with caution
A demo alone is not a sufficient reason to open or fund a live CFD account. Before any decision, read the issuer’s PDS and target market determination, and weigh whether you could afford the loss. ASIC’s Moneysmart CFD risk guidance, checked 3 October 2026, explains the risks of live CFD trading.
Demo account limitations
Brokers don’t always make the limitations obvious. They are real and they matter.
Simulated fills and slippage
Moneysmart’s CFD guidance, checked 3 October 2026, notes that the price you receive can differ from your order quote during fast markets or low activity. A simulation does not independently evidence how live slippage will behave, so treat simulated fills as unverified.
Document the assumptions behind your simulated results, including the fills you were given, and treat those fills as unverified for live execution. I would not read a clean demo run as a prediction either way; it is a record of what happened in simulation, no more.
Virtual money and live decisions
A virtual loss has no real financial consequence, so reactions in a demo may differ from reactions with real money at stake. In my view that is worth holding in mind when interpreting practice results, rather than assuming the two settings will match.
Log practice decisions as they are made, including entries, exits and the reasoning recorded at the time. That log helps with reviewing the process, but it cannot establish how anyone will respond emotionally or financially to live trading, so treat it as a record of simulation, not a suitability test.
Comparing demo and live conditions
Differences between demo and live conditions can have multiple causes, and I hold no data showing any broker on this list has misrepresented demo performance. Before attributing a cause to a noticed difference, compare the documented conditions of each account type, and raise the question with the broker directly.
Demo doesn’t test your funding flow
A demo does not demonstrate live deposit handling, identity verification or withdrawal processing, because no real money moves. Rather than funding an account to find out, read the chosen Australian entity’s funding and withdrawal terms. Where we hold funded-account evidence it sits in the individual broker reviews, and I would not generalise it here.
ASIC rules and demo accounts
A practice account does not establish whether a provider is licensed or what protections would apply to a live CFD contract. My suggestion is to check the actual Australian issuer and its licence details before you rely on any demo offer, not to wait until funding, and to read the PDS for the product you would actually be trading.
Australian CFD issuers must hold an AFS licence, and as Moneysmart’s CFD guidance, checked 3 October 2026, states, licensing reduces but does not eliminate risk. ASIC’s 23 October 2020 release, verified 3 October 2026, confirms the product intervention order’s protections, including leverage limits, negative balance protection and margin close-out. Check the issuer on the ASIC registers and read the Product Intervention Order background.
Check that you are using the demo
A practical interface check is worth a minute before trading. I would look for:
- A practice or demo label that stays visible while the platform is open.
- A clearly virtual balance, distinct from any live account display.
- Confirmation of the selected account type before an order is placed, so a practice ticket cannot be mistaken for a live one.
If any of these are unclear, ask the broker to confirm which environment is active before proceeding.
Check complaint eligibility with AFCA
Whether a complaint about a practice account falls within AFCA’s jurisdiction depends on the specific circumstances. The practical step is to check the terms of your chosen issuer and take any eligibility question directly to AFCA rather than inferring it from virtual balances. For live matters you cannot resolve with the broker, AFCA’s free dispute resolution scheme is the next step.
Step-by-step: how to open and use a demo properly
- Pick an ASIC-regulated broker that suits your trading style. Start by choosing from the AU shortlist (Pepperstone, IC Markets, CMC Markets, Plus500, eToro and others). Match the broker to whether platform variety, raw-spread testing, multi-asset access, beginner simplicity or copy trading is needed.
- Sign up for the free demo. Follow the chosen Australian broker’s own signup steps, because requirements vary between brokers: some may ask for identity or other details before or during setup. Check the broker’s published signup terms for what applies to you.
- Set a virtual balance you can work with. Where the platform’s settings permit, choose a balance that is meaningful for the sizing to be rehearsed. If the balance is fixed by default, note that limitation and plan the practice around it.
- Backtest your strategy and rehearse position sizing. Use self-chosen inputs, document the assumptions behind any backtest, and keep a record of each practice trade. A simulated result is not proof of live profitability.
- Stress-test the platform and order types. Place a buy stop, modify it, partial close half, trail the rest and set an alert on a different chart. Confirm everything fires as expected.
- Review live risks before any decision. Read the PDS and target market determination for the live product, and weigh whether a loss would be affordable. A demo creates no obligation to fund an account and no evidence of suitability.
Compare brokers by the factor that decides it
The shortlists below group our broker comparisons by platform, strategy and market focus, so you can compare the factor that matters most to you and narrow the field once you know what you need from a demo.
The platform decides it
Rankings change once the trading software is fixed. Pick yours first, then compare.
Your strategy decides it
What you trade decides it
CFD shortlists re-ranked for the asset class you trade most.
FAQs
Are demo accounts free?
Do demo accounts expire?
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Can you make money on a demo account?
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Best demo for MT4?
What is the best demo trading app in Australia?
Related pages
About the author
Justin co-founded CompareForexBrokers in 2014 and has traded forex since 1998. Based in Melbourne, he leads the site's research, and has written for Forbes, Kiplinger and Finance Magnates, while the Australian Financial Review has cited CompareForexBrokers research. He holds a Bachelor of Commerce (Honours) and a Master of Marketing from Monash University. Justin is the co-founder and CEO of CompareForexBrokers.