HomeForex TradingTop 10 Best Demo Stock Trading Account to Practice in Australia

Top 10 Best Demo Stock Trading Account to Practice in Australia

This article will examine the top 10 best demo stock trading accounts.

If you want to trade stocks online but want to get a feel for the market first, a demo trading account can be a good option. 

You’ll be able to purchase and sell stocks using ‘paper money,’ which means you won’t have to risk any of your own money in the process.

This article will go through the top stock trading demo account platforms and show you how to get started right now.

Demo Stock Trading Account
Photo credit: Domicibulkova

What is a Demo Stock Trading Account?

A demo trading account is funded solely with virtual funds yet has the same capabilities and technical indicators as a live account.

How to Practice Trading for Free

Making money through day trading necessitates both practice and knowledge. 

A day-trading simulator—also known as a “demo account”—might not be able to replicate all of the stresses and hazards associated with trading with real money. Still, it can help you learn and refine trading tactics.

Practicing with a day-trading simulator can help you gain confidence in your trading judgments. 

You don’t have to be concerned about making a mistake when trading.

You can use a simulator to keep track of market conditions and experiment with different charting tools and indicators.

Top 10 Best Demo Stock Trading Apps in Australia

FP Markets – Australia’s Best Demo Account

ASIC-regulated On MT4 (desktop/browser) and MT5 (desktop/browser/app), FP Markets offers a free demo account where you can trade 60 Forex pairs as well as stocks, metals, commodities, and indices.

 The fund will be active for as long as you wish it to be and will only be closed after 30 days of inactivity.

The executing (the demo account is virtual) and spreads are the only variations between the demo and actual accounts at FP Markets.

 Compared to a demo account, the live account uses ECN pricing, which has several sources of liquidity, resulting in variable spreads.

Read also:

Most Reliable Broker: BlackBull Markets

BlackBull Markets, as an honest ECN/STP broker, eliminates the inherent conflict of interest with market makers.

BlackBull Markets is also one of the most trusted brokers globally, having received recognition from Deloitte and being regulated by the New Zealand FMA and the Seychelles FSA.

All three account types offered by BlackBull Markets have a demo account: Standard, Prime, and Institutional.

It comes with $100,000 USD/AUD pre-loaded and will stay open for 30 days before prompting you to open a live account.

Pepperstone – ECN Demo Account of the Year

Pepperstone, based in Melbourne, is known worldwide for its lightning-fast trade execution and a beginner’s package that most ECN brokers lack. 

Pepperstone offers free demo accounts that allow clients to trade 80+ Forex pairs on MT4, MT5, and cTrader platforms, as well as 24/7 customer assistance. 

Unless you have a live account, in which case you can request a non-expiring demo account, the demo account expires after 30 days.

The performance and conditions of the demo and live accounts are identical, except that the demo account contains 500,000 AUD in virtual funds.

Best cTrader Demo Account – FxPro

FxPro is a well-known and well-regulated broker and one of the most prominent names in the industry.

cTrader access sets the platform choice apart from many others since it supports a wide range of trading platforms.

The cTrader sample account, available on desktop and mobile apps for Android and iOS, comes with $100,000 in virtual funds and is valid for 180 days.

FxPro offers a single live account type that allows you to trade 70 different Forex pairs.

Best $10,000 Demo Account: Marketsx

Marketsx is a brand-new trading platform run by Markets.com, a CySEC and ASIC-regulated market maker. 

The Marketsx demo account is only filled with $10,000 in virtual funds, but it is unlimited and only expires after 90 days of inactivity.

The demo account mirrors live trading circumstances, which are particularly favorable compared to Markets.com’s direct competitors.

Best MT5 Demo Account – XM

XM, a genuine market maker broker, regulated by ASIC and CySEC, was named Global Forex Broker of the Year 2020 at the Global Forex Awards. 

The XM demo account comes with a virtual amount of USD 100,000 and is available on both the MT4 and MT5 platforms. 

The demo account at XM is similarly unlimited, and you can use it in conjunction with a live account.

The MT5 Demo Account from XM is designed for traders who wish to do more than just trade Forex.

Admirals – MT4 Demo Account of the Year

Admirals offer an enhancement of the standard MT4 package with the MT4 Supreme Edition, which is regulated by three leading international bodies, including ASIC (AFSL: 410681). 

The MT4 Supreme Edition offers a superior trading experience throughout Admirals’ extensive product offering, including 50 Forex pairs, indices, commodities, stocks, ETFs, bonds, and cryptocurrencies.

Best Mobile Demo Account: AvaTrade

AvaTrade is one of the world’s most well-known and well-regulated brokers.

AvaTrade’s web trader platform, MT4, MT5, and its mobile app, AvaTradeGO, provide a free demo account. Over 1250 instruments, including Forex, cryptocurrencies, stocks, commodities, and indices, are available to demo traders. 

The demo account comes with USD 100,000 pre-loaded and expires after 21 days. 

Best Copy Trading Demo Account on eToro

eToro is the original social trading and copy trading platform, and its sample account is easy to use.

 Unlike traditional platforms such as MetaTrader or cTrader, the eToro platform encourages traders to follow the tactics of other clients rather than engaging in comprehensive chart research. 

The demo account at eToro never expires and can be topped up at any time by contacting customer care.

eToro is worth a demo account for a trader searching for copy trading and a less standard style.

Watch the video below to know the best Demo Stock Trading Account to Practice in Australia:

EasyMarkets – Best Demo Account With No Limits

EasyMarkets was one of the first internet brokers, having launched in 2001. 

EasyMarkets, which ASIC has regulated since 2003, CySEC since 2007, and the FSA since 2020, offers simple accounts and one-of-a-kind trading tools. 

On both MT4 and the easyMarkets platform, an easyMarkets demo account is accessible.

While the trial account on both platforms can be used indefinitely, the demo account on the easyMarkets platform allows traders to try out some of the broker’s unique features, such as dealCancellation, Freeze Rate, and easyTrade.

Demo stock trading account is a crucial tool utilized by investors of all shapes and sizes, regardless of whether they are first-time stock traders or seasoned pros. 

They let you practice stock trading without losing your own money, as well as test out a new technique in a risk-free environment.

If you want to start trading stocks right now from the comfort of your own home using a demo account, eToro’s setup process only takes a few minutes.

close
Coin Decimal

Don’t miss these tips!

We don’t spam! Read our privacy policy for more info.

RELATED POSTS

Leave A Reply

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -

Recent Posts