Which CFD brokers offer free demo accounts?
Verdict
- Pepperstone is the CFD broker we would practise with in Australia, but demo-account terms are not part of the verified facts we hold for any broker, so we do not quote demo lengths, virtual balances or platform lists.
- Check the current demo on each broker's sign-up page; what you can usefully test there is the platform, the order tickets and the cost structure.
- A practical alternative to a long demo is a very small live account: Pepperstone's minimum deposit is $10 and Capital.com's is $20.
- Pepperstone's five platforms (its own app, MT4, MT5, cTrader and TradingView) let you practise on the same software you would trade with.
Most CFD brokers advertise a free practice account, but the terms change often and we only publish what we have checked on the broker's own pages. So rather than a list of demo terms, this page shows how to use a demo well and where the real differences between brokers show up.
Our choice for practising: Pepperstone
Practise at the broker you are likely to trade with, so that what you learn carries over. For Australians that is Pepperstone: licensed by ASIC (AFSL 414530), with Standard and Razor accounts, five platforms and costs published in enough detail to rehearse with. Confirm its current demo terms on the account-opening page before you rely on them.
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What to rehearse on a CFD demo
- Place, move and cancel stop-loss and take-profit orders until it is automatic.
- Work out margin by hand at the ASIC retail caps: 1:30 on major FX, 1:20 on major indices and gold, 1:5 on shares.
- Calculate a round trip before you trade it: one lot of EUR/USD on Pepperstone Razor MT5 costs about $8 (0.1-pip average plus USD 3.50 per side).
- Hold a position past the daily rollover to see how the swap is booked.
- Use the platform you will trade on live; in Australia, MT4 and TradingView are Razor-only at Pepperstone.
What a demo can't show you
- Real fills: Pepperstone states execution 'from 50 milliseconds, with a 99.32% fill rate', based on its own trades from January to March 2026, but only a live account shows what you get.
- Withdrawals: on the Australian table, PayID and cards take up to two business days and bank transfers up to seven.
- Your own reaction to losing real money, which is where most early mistakes come from.
- Weekend gaps and fast markets, which demo sessions rarely capture.
Comparing brokers once you've practised
Minimum deposits are from each broker's published figures; platform lists are from their main sites.
| Broker | ASIC licence | Minimum deposit | Platforms |
|---|---|---|---|
| Pepperstone | AFSL 414530 | $10 | Own app, MT4, MT5, cTrader, TradingView |
| Capital.com | AFSL 513393 | $20 | Own web and app, MT4, MT5, TradingView |
| IC Markets | AFSL 335692 | $0 in our data | MT4, MT5, cTrader, TradingView |
| eToro | AFSL 491139 | $10 | Own web platform and app |
Sources
Broker pages behind the figures above.
Do demo prices match live prices?
Not always. Demo orders don't meet real liquidity, so fills can look better than they would be live.
Should I use a demo before opening a Pepperstone account?
It helps you learn the platform. To test real costs and a withdrawal, a live account funded with Pepperstone's $10 minimum tells you more.
Which platform should I practise on?
The one you will trade on. If you plan to use Pepperstone's Standard account in Australia, practise on MT5, cTrader or its app, since MT4 and TradingView need Razor.
CFD trading is high risk: leverage means a small market move can cost you a large share of your balance, quickly. These products are complex. We give general information, not investment advice; costs and conditions change, so verify them with the broker.