Which CFD brokers offer free demo accounts in the UK?
Verdict
- Pepperstone is the UK broker we would practise with: its five platforms (own app, MT4, MT5, cTrader, TradingView) cover every style, so what you learn carries over to a live account with the same firm.
- Demo terms such as length, virtual balance and which platforms are included change often and are not part of the account documents we checked, so confirm them on each broker's sign-up page.
- A demo shows you the platform and the cost structure; it cannot show you live slippage, partial fills or how you react to losing real money.
- When you move to live trading, Pepperstone's £10 minimum and retail negative balance protection keep the first step small.
Most UK traders want a demo for two reasons: to learn a platform and to see what trades really cost. Pepperstone is our first choice for both, because the platforms are standard tools you can take anywhere and the costs are published line by line. Here is how to use a practice account properly.
Why we start beginners on Pepperstone's platforms
Practising on a broker-only platform teaches you one company's buttons. Pepperstone's UK accounts run on MetaTrader 4, MetaTrader 5, cTrader and TradingView as well as its own web platform and app, so the habits you build transfer if you ever move. Pepperstone Limited is FCA-authorised (684312), and its published costs, such as a 1.1-pip average on EUR/USD on Standard and raw spreads plus commission on Razor, are easy to check against the figures you see in practice. Check the current demo terms on Pepperstone's sign-up page before you register.
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Five things to test before you trade with real money
- Order types: place, edit and cancel a stop-loss and a take-profit until you can do it without thinking.
- Position sizing: work out what one point or pip is worth at your size, and check it against the platform's figure.
- Margin: open a position and note how much margin it uses; UK retail leverage is capped at 1:30 on major FX and 1:5 on shares.
- Costs: on a commission account, find where the commission appears and confirm it matches the published rate (Pepperstone Razor: $3.50 per side on MT5, $3.00 on cTrader FX).
- Overnight charges: hold a position past the daily cut-off and see the financing line appear.
What a demo cannot teach you
Practice fills are simulated. On a live account, a stop can fill worse than its level in a fast market; Pepperstone's UK terms say plainly that stops are not guaranteed. Spreads can widen around announcements. And losing £200 of your own money feels different from losing virtual funds: Pepperstone's own UK risk warning says 73.6% of retail accounts lose money on its spread bets and CFDs.
Moving from practice to a live account
Start live with the smallest size the platform allows, and keep the same platform you practised on so the only new variable is real money.
| Pepperstone | Capital.com | |
|---|---|---|
| Minimum deposit | £10 | 20 GBP |
| Platforms | Own app, MT4, MT5, cTrader, TradingView | Web, app, MT4, MT5, TradingView |
| Spread betting | Yes | Yes |
| Guaranteed stop-loss | No | Yes |
| Retail negative balance protection | Yes | Yes |
Sources
Account, platform and risk terms as published.
How long should I use a demo account?
Until you can place, adjust and close trades with stops without mistakes, and you understand the cost of each trade. For most people that is a few weeks, not months.
Do demo results predict live results?
Not reliably. Demo fills ignore real slippage and the pressure of real losses, so expect live results to be worse at first.
Can I practise spread betting as well as CFDs?
Pepperstone offers both account types live in the UK. Check on its sign-up page which account types its practice accounts cover.
Practice results do not reflect live trading. CFDs and spread bets are complex and leveraged, and real accounts can lose money rapidly. Not investment advice; confirm demo and account terms with the broker.