Forex Demo Trading offers new traders the opportunity to see how the market works without risking real funds. The top five South African forex brokers with demo accounts are: IG, Plus500, Tickmill, Pepperstone, and AvaTrade.
Suppose you’re interested in trying out different features of a trading platform that you’re interested in, but you don’t want to risk any real funds.
In these scenarios, finding the right forex brokers with a demo account can help you tremendously.
For this TRU Insight, we’ll break down our review experts’ top picks for the best forex broker demo accounts. These brokers—IG, Plus500, Tickmill, Pepperstone, and AvaTrade—can help you learn the basics of forex trading.
Note that our experts have over a decade of experience analyzing the markets and reviewing brokers for their performance and platform features.
Hence, they are equipped with the right set of expertise to provide an unbiased and factual examination of broker platforms.
Keep reading to gauge their honest feedback on the top forex brokers with demo trading accounts.
Do You Need a Demo Account?
As a new trader, you would particularly benefit from demonstration accounts (or demo accounts). They help you see how the market works and introduce you to the financial market before deciding to use the platform’s live accounts.
But which forex trading demo accounts do you choose?
To answer this question, let’s look at these top forex brokers with demo trading accounts in South Africa:
- AvaTrade
- Plus500
- Pepperstone
- IG
- Tickmill
Top 5 South African Forex Brokers with Demo Trading Accounts
Taking into consideration demo account performance and other factors, our experts listed five of the best forex brands catering to beginners.
Below is a tabular comparison of the five brokers with a forex demo account:
| Forex Broker | Minimum Deposit | Trading Platforms |
| Pepperstone | $0 | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView |
| AvaTrade | $100 | MT4, MT5, WebTrader, AvaTrade App, AvaSocial, AvaOptions, DupliTrade |
| Tickmill | $100 | MT4, MT5, WebTrader, ZuluTrade, TradingView |
| IG | $0 | MT4, ProRealTime, L2 Dealer, IG proprietary software, TradingView |
| Plus500 | $100 | Proprietary, desktop, and mobile platforms |
After careful assessment of their trading platforms and minimum deposits, our experts considered these brokers for their outstanding educational resources and demo accounts.
Let’s take a closer look at each of these forex demo trading account providers:
1) Plus500
Plus500 offers excellent trading conditions for those looking to try forex trading while having access to a wide range of tradable assets. All of these are available on its proprietary platform.
Its forex demo account allows you to practice your trading strategies and understand its platform features and instruments better.
Creating a demo account requires you to provide an email address and password.
One of the things that our experts appreciate is that the platform allows customers to customize the amount of their demo funds and reset them whenever they wish to.
They also note that users can easily switch between demo and live trading accounts to practice any strategy they have in mind.
2) Pepperstone
Pepperstone offers one of the best trading conditions with various instruments and markets that provide traders with a smooth trading experience.
If you are not comfortable making trading decisions and placing orders while staking your real money immediately, our experts recommend using their demo trading account.
This will allow you to benefit from a risk-free way to explore MT4, MT5, and cTrader platforms.
3) AvaTrade
AvaTrade’s demo account offers one of the best solutions for developing trading strategies and learning how to trade.
Based on our expert’s testing, AvaTrade users can open unlimited demo trading accounts that enable them to test the MT4 and MT5 platforms, as well as AvaTrade’s proprietary WebTrader platform.
Trading on the go is also not a problem with AvaTrade, as you can also open a demo account through their AvaTrade mobile app.
According to our experts, the difference between the standard and professional demo account types is the trade pricing.
Learn More: AvaTrade Broker Review 2025: Fees, Features, and Regulations
4) Tickmill
Joining Tickmill will help you make the most of trading with a retail forex broker. Tickmill’s forex demo account allows you to trade over 180 CFD instruments without risking your actual funds.
Its CFD and forex trading demo accounts allow you to explore its MT4 and MT5 platforms, allowing you to advance your trading skills.
Based on our experts’ experience, the demo account will be active only 28 days after you create it. Still, upon registering, they found that you can open up to seven demo trading accounts.
Learn More: Tickmill Review: Is It a Safe Broker in 2025 – TradersUnited
5) IG
IG is a reliable forex broker that can help you take the first steps in the forex market. As one of the long-standing online trading platforms in the industry, IG offers you a wide selection of trading tools.
One of these tools is a demo account that, according to our experts, comes with a virtual balance of USD 20,000, which you can use for trying trades.
While it is a useful tool for beginners, IG’s demo account is also ideal for experienced traders who want to test their forex trading strategies.
Is A Trading Account Useful?
New traders, in particular, can benefit from a demo account. It introduces them to the financial market, allowing them to view how the market works.
To benefit from a forex demo account, it’s important to take the opportunity to learn whether your strategy works by opening an account with the amount of money you plan to begin with.
If you want to learn how real traders benefit from demo accounts with their respective brokers, join the discussion with millions of traders at CommuniTrade.
Frequently Asked Questions (FAQs)
How Do I Open a Forex Demo Account?
To open a forex trading demo account, you need to sign up with a legit broker that offers these accounts through their website.
Note that you may need to give some basic information before you can download their trading program. This includes your name and contact information. After this, you can start practicing.
Which MetaTrader is Best for Beginners?
In general, MetaTrader 4 (MT4) is considered better for beginners due to its user-friendly, simple interface. Another factor that beginners favor about the platform is its focused approach to forex trading.
On one hand, recent news about the MetaTrader platforms involves the platform crashing in China, with local authorities allegedly viewing popular retail trading apps as potential scams.
That said, it’s important to stay vigilant when it comes to trading platform safety.
Read More: What is Meta Trader 4 (MT4)? – TradersUnited
How Good is Pepperstone?
Pepperstone is an excellent forex broker with a demo trading platform for anyone looking for a reliable platform for CFD trading.
It is ideal for professional traders seeking a large number of tradable assets and access to third-party trading tool integrations.
Learn How to Use Forex Demo Trading Accounts Properly
Several forex brokers in South Africa offer advanced features on their trading platforms to help their users learn and earn. Among these benefits is a reliable demo account.
While brokers often offer forex demo accounts to encourage their traders to open a live account, traders benefit by testing their strategies against real-life trading scenarios simulated within the demo account.
Learn how forex brokers with demo accounts can help you in your trading journey at CommuniTrade. Discover how demo trading accounts work and how to use them properly to maximize usage.
Join millions of traders today and learn more about forex trading at CommuniTrade.
