A broker demo account is a free simulation of the real platform, without having to complete an open account form or fund your account. Instead, you are usually asked for only 5 fields of information to create your free account with no strings attached.
A broker demo account is a great way for new investors to learn about the stock market and how to invest or trade. By using a broker demo account, you can get a feel for the platform without committing.
Moreover, it saves a lot of time as a demo usually takes 2 minutes, a maximum of 5 to create. Have a look at our investing reviews if you believe there might be a broker worth exploring.
The benefits in a nutshell
A demo account is a great tool for new investors because it allows you to test out different strategies without risking any real money. This can be a great way to learn about the different types of orders that can be placed and how the stock market works.
If you are looking for a particular instrument, platform feature, or feeling, it is the way to find out if the broker you opened a demo account with, is a good fit.
A list of brokers offering a demo account
Bear in mind, that this list is neither extensive nor applicable in all regions. However, it will give you a good starting point if you are unsure where to look:
- Interactive Brokers
- Charles Schwab
- TD Ameritrade
- Saxo Bank
- IG markets
How long does a demo account last?
Most demo accounts last for 30 days, but some brokers may offer longer or shorter periods. It’s usually not shorter than 20 days, meaning you have plenty of time to make up your mind. If you are for whatever reason not able to explore the platform of the broker in that time, most will grant you an extension if you request one.