Trading help, book reviews, risk management, and interviews.

Disclaimer

The contents of this blog do not constitute investment advice. Trading CFDs and Forex can be very risky and you can lose much more than your initial deposit. Seek professional advice before making any trades.

CFD trading demo accounts

Before you start risking your money with a live CFD trading account you will probably want to try some demo accounts from different brokers. Practice accounts will help you to familiarise yourself with the mechanics of buying and selling, and help to evaluate the various trading platforms that CFD brokers provide.

If you are thinking of opening a live account after opening a demo account then I suggest you research the trading costs, facilities and initial balance requirements of the live account to make sure that the account is suitable for you before you spend too much time with their demo account.

IG Index

IG are one of the largest CFD and spread betting brokers in the UK. Their parent company IG Group is a FTSE 250 listed company.

With IG Index you can open a £100,000 demo account using their browser based trading platform ‘PureDeal’. The account gives you live prices and charts, and allows you to trade CFDs, forex and commodities.

The demo account is unfortunately only valid for 14 days after which it will automatically expire – so you’ll need to start using it right away!

Sign up for a IG Index demo account

GFT Global Markets

GFT Global Markets is UK subsidiary of the US based Global Futures & Forex. They are based in Canary Wharf.

They offer two versions of their trading platform – DealBook® 360 which is a downloadable application, and DealBook® WEB which is a browser trading platform.

As well as offering a CFD demo account you can also get a spot forex demo account or a spread betting demo account.

You have the option to chose between 5 initial balances between £2500 and £50,000 so you can select the amount which is closest to how much you are likely to be dealing with.

Sign up for a GFT demo account

Saxo WebTrader / SaxoTrader

Saxo WebTrader is a web based trading platform provided by Saxo Bank – they are an investment bank. They also offer a downloadable trading platform which can be installed after you have signed up for the practice account.

The account is valid for 20 days and you get a 100,000 Euro balance in your account.

Sign up for a Saxo WebTrader demo account
Sign up for a SaxoTrader demo account

RBS marketindex

Marketindex is a CFD trading service from the RBS bank. They acquired this CFD brokerage service when they bought ABN Amro.

The trading software works through your browser so no additional downloads are needed.

Open a RMS marketindex demo account

City Index

With City Index your can sign up for a £10,000 demo account which is valid for two weeks. As with many other brokers the platform is browser based.

Sign up for a City Index demo account

Pro Spreads

Pro Spreads offer a training spread betting account. This is a spread betting account rather than a CFD account but the mechanics are very similar. As this is technically ‘betting’ rather than ‘trading’ any gains (if you open a live account) will be free of capital gains tax.

By default the demo account is only valid for one week but you can phone them up to request a longer period.

Open a Pro Spreads demo account

CMC

CMC do not appear to offer a demo account however if you want to know more about their service I have a full review of CMC’s MarketMaker trading platform.


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