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Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.
Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.
Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.
A Forex demo account is a free practice account that lets you trade live market prices with virtual funds. It’s the safest way to learn how Forex trading works, test strategies, and explore trading platforms before using real money. Offered by most regulated brokers, demo accounts provide a realistic trading environment that mirrors live market conditions.
In this guide, we explain why it’s important to use a demo account, tips to get the most from your demo account, and common mistakes to avoid.
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For over a decade, we’ve set the standard in forex broker reviews—collecting thousands of data points yearly to deliver unbiased, expert-backed insights.
Skip the trial and error! Below, you’ll find the best forex brokers in the Philippines for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence.
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Broker | Official Site | Unlimited Demo | Support Hours | Platforms | Regulated | Website Language: English | Support Language: English | Compare | ||
|---|---|---|---|---|---|---|---|---|---|---|
 | No | 24/5 | USD 100 | MT4, MT5, Avatrade Social, AvaOptions |        | Yes | Yes | |||
 | No | 24/7 | USD 200 | MT4, MT5, cTrader, TradingView |    | Yes | Yes | |||
 | No | 24/7 | USD 0 | MT4, MT5, cTrader, TradingView, Pepperstone Platform |    | Yes | Yes | |||
 | Yes | 24/5 | USD 10 | MT4, MT5, NAGA Web App | | Yes | Yes | |||
 | No | 24/5 | USD 5 | MT4, MT5 |  | Yes | Yes | |||
 | Yes | 24/5 | USD 0 | MT4, MT5, HFM Trading App |  | Yes | Yes | |||
 | Yes | 24/7 | USD 5 | MT4, MT5, FBS App | | Yes | Yes | |||
 | Yes | 24/5 | USD 0 | MT4, L2 Dealer, TradingView |    | Yes | Yes | |||
 | No | 24/5 | USD 0 | xStation5 |  | Yes | Yes | |||
 | Yes | 24/7 | AUD 0 | MT4, MT5, cTrader, TradingView |  | Yes | Yes |
Select another broker to another broker to compare features, fees, and platforms side by side.
Find Your Ideal Forex Broker
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0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
AvaOptions, Avatrade Social, MT5, MT4
400:1
Founded in Ireland in 2006, AvaTrade is an well-regulated broker with a free demo account available on its webtrader platforms MetaTrader 4 and MetaTrader 5 and its mobile app, AvaTradeGO. With the demo account on AvaTradeGO, traders can trade 1250+ instruments, including Forex, cryptocurrency, stocks, commodities, and indices, and access its innovative risk management tools. The AvaTradeGO mobile app has a sophisticated dashboard with a set of trading tools and indicators, clear zoomable charts, and many more helpful features.
AvaTrade's demo account includes a 100,000 USD balance. It expires after 21 days but can be extended by contacting customer service. AvaTrade also offers a full library of educational materials and analysis tools to help beginners get started.
The app is tailored for first-time traders, offering an easy-to-use interface and integrated market trends for faster learning.
Traders can practice without worrying about expiry dates, allowing them to learn at their own pace.
Access risk management and market analysis tools even in demo mode—rarely found in other brokers.
Includes video tutorials, strategy guides, and a glossary—all accessible without a live account.
You can’t demo test Expert Advisors (EAs) on MT4 or MT5, which may limit aspiring algo traders.
Support for demo users may be delayed outside of working hours.
AvaTrade | Best for: Beginners who want an intuitive, mobile-friendly demo trading experience with added tools and educational content.
FxScouts
YouTube
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0.1 pips
CMA, FSA-Seychelles, SCB, CySEC
USD 200
TradingView, cTrader, MT5, MT4
500:1
IC Markets provides a true market conditions demo with tight spreads and fast execution.
Users can test across multiple platforms including cTrader—a rare offering for Filipino traders.
Simulate real-world conditions with access to forex, indices, crypto, and commodities.
Your demo trades won’t get interrupted due to platform maintenance or timeouts.
Beginners may feel overwhelmed without structured education.
Requires account creation to extend demo use beyond 30 days.
IC Markets | Best for: Traders who want a demo account with raw spreads and real-time market depth for professional simulation.
FxScouts
YouTube
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0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
1000:1
Pepperstone is recognized for its ECN demo account, especially the Razor account, which is tailored for those keen to understand raw spreads, complemented by a substantial 500,000 USD in virtual funds. While Pepperstone is known for fast trade executions and a beginner-friendly environment, a limitation is the demo account's 30-day expiration, though this can be extended for live account holders.
Try MT4, MT5, and cTrader under raw and standard account conditions before going live.
Ideal for users wanting to test bots or build strategies with historical data.
Guided content on using indicators, drawing tools, and order types helps fast-track learning.
Traders benefit from transparent demo-pricing that reflects real execution models.
Account must be re-registered or connected to live account to continue using it.
DupliTrade or Myfxbook Autotrade aren’t testable without a live account.
Pepperstone | Best for: Serious learners who want to test EAs and compare MT4, MT5, and cTrader without switching brokers.
FxScouts
YouTube
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0.7 pips
FRSA, FSA-Seychelles, CySEC
USD 10
NAGA Web App, MT5, MT4
1000:1
Allows you to explore top trader portfolios and simulate copy trades before going live.
Gamifies the learning experience—ideal for new traders motivated by rankings.
Trade major assets like forex, crypto, and stocks without real risk.
NAGA provides suggestions and risk alerts based on what others are doing.
More suited for social-style traders than pure chartists or scalpers.
NAGA uses its own proprietary platform, which may not appeal to traditional users.
NAGA | Best for: Social traders in the Philippines looking to combine demo practice with community learning and leaderboards.
FxScouts
YouTube
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0.6 pips
DFSA, FSC, ASIC, CySEC
USD 5
MT5, MT4
500:1
XM is a market maker offering trading on Forex, stock CFDs, commodities, equities, precious metals and energies. It also has a low-cost stockbroking service. The demo account at XM is funded with a 100,000 USD virtual balance, does not expire after a set time, and is available on both the MT4 and MT5 platforms. XM’s MT5 Demo Account is aimed at traders who want to trade more than just Forex:
Practice with 100+ assets across both platforms, ideal for standard and micro lots.
Perfect for true beginners looking for a step-by-step approach.
Helps transition from demo to live without high capital requirements.
Beginners receive 1-on-1 guidance before and after live account creation.
Might not be ideal if you’re testing scalping strategies in demo mode.
Crypto pairs are available only on live accounts in select regions.
XM | Best for: Filipino beginners who want guided webinars, free bonuses, and a structured demo trading journey.
FxScouts
YouTube
Select another broker to another broker to compare features, fees, and platforms side by side.
A Forex demo account simulates real trading with virtual money. It mirrors live market conditions so you can practise trading, understand leverage, and build experience without financial risk.
When you open a demo account, your broker gives you a balance of virtual money, usually between USD 10,000 and USD 100,000. You can use it to place trades, test strategies, and explore different order types in real time.
You’ll see real spreads, charts, and price movements—exactly as you would in a live account—but any profits or losses are simulated.
Demo accounts also use the same trading platforms as live accounts—like MT4, MT5, cTrader, and TradingView—so you can learn their tools and layouts without risk.
While demo trading feels realistic, it’s not identical to live trading. Execution is often faster, slippage is minimal, and the emotional pressure is missing. But as a learning environment, it’s the most accurate simulation available.
A demo account is an essential step for every trader. It lets you learn the markets, practise safely, and build confidence before trading real money.
Demo accounts show you how Forex trading works—how orders, spreads, and leverage affect results—without financial risk. It’s the fastest way to build practical understanding.
Trading can be emotional. Practising in a demo environment helps you stay calm and disciplined during wins and losses, preparing you for live trading.
You can try new ideas and adjust your approach under real market conditions. The feedback you get in demo trading is invaluable for refining your strategy.
Each platform is different. A demo account lets you explore charting tools, indicators, and order types until you’re comfortable executing trades efficiently.
Demo accounts use live market data, so you can learn how spreads, volatility, and price movements behave in real time—skills that make a huge difference later on.
A Forex demo account is most useful when treated as real preparation, not just a simulation. These tips will help you build the right habits and confidence before trading live.
Treat your demo balance as if it were your own money. Use realistic position sizes, apply stop losses, and avoid unnecessary risks. This helps you develop discipline and accurate expectations about trading performance.
Use your demo account alongside FxScouts’ Forex Education Centre. Study technical and fundamental analysis, learn how indicators work, and apply what you learn immediately in the demo environment.
Document each trade, including your reasons for entering and exiting. Reviewing your results helps you identify patterns, refine strategies, and build consistency over time.
Experiment with different approaches—trend-following, swing trading, or scalping—and see which suits your goals, temperament, and time availability. The more you test, the more refined and confident your trading plan will become.
Use your demo account until you can trade profitably and consistently for several weeks under different market conditions. That’s a reliable sign that you’ve built both the skill and emotional discipline to handle real money.
A demo account is the best way to prepare for live trading, but beginners often form habits that can slow their progress. These are the most common pitfalls to avoid:
Many traders take oversized positions or skip stop-losses because losses aren’t real. This builds poor habits. Always practise realistic position sizing and use sensible leverage so that your results reflect what’s achievable in a live account.
Placing random trades teaches little. A clear strategy with defined entry and exit rules makes your practice meaningful and helps you measure improvement.
Virtual funds can make trading feel like a game, leading to unrealistic behaviour. Treat every trade seriously so the discipline transfers naturally when real money is involved.
Without reviewing your trades, you can’t see patterns or progress. Spend a few minutes after each session noting why you entered and exited—small reflections lead to major improvements. Having a trading journal allows you to record each trade and find what has worked and what needs refinement. You can use AI for this purpose too.
A few good demo sessions don’t mean you’re ready for real markets. Stay on your demo account until you can trade profitably and consistently under different conditions.
Remember — discipline learned in demo trading is the foundation of your live trading success.
Opening a Forex demo account is quick and straightforward. Most brokers let you register online and start trading within minutes.
If you’re not sure where to start, visit our Best Forex Brokers for Beginners page for trusted recommendations.
A Forex demo account is the safest and most practical way to learn how trading really works. It gives you the time to explore platforms, test strategies, and build experience before making financial decisions.
Take your time while practising. Focus on developing consistency, discipline, and a clear process rather than chasing short-term results. The habits you form now will shape how you trade later.
When you’re comfortable and confident, moving to a live account will feel like a natural next step. Until then, a demo account remains the best place to learn, make mistakes, and grow as a trader.
Find quick answers to common questions about Forex demo accounts, their benefits, and how to choose the right one for your trading journey.
Yes. Most regulated brokers offer free demo accounts so traders can learn their platforms and practise without financial risk.
Some expire after 30–90 days, but many brokers offer unlimited or renewable demo accounts on request.
Yes. You can usually open several demo accounts with the same broker or different brokers to compare platforms and trading conditions.
Mostly yes. They use live market prices, but execution speed and slippage may differ slightly compared to live trading.
A demo account uses virtual funds and removes emotional pressure, while a live account involves real money and the psychology that comes with it.
Stay on your demo account until you’re consistently profitable and confident. There’s no fixed timeline — experience is what matters.
Explore more resources that fellow traders find helpful! Check out these other guides to enhance your forex trading knowledge and skills. Whether you’re searching for the best brokers, educational material, or something more specific, we’ve got you covered.
Discover the top Forex brokers in the Philippines. Compare top platforms, fees and features to make an informed trading choice.
What is Forex trading and how does it work? An easy-to-read guide including how to trade, and how to choose a reliable broker.
Explore the best Forex brokers for beginners in the Philippines with user-friendly platforms, educational resources, and demo accounts.
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