Day trading simulators are used by traders of all skill sets. Whether you’re a newbie that wants to learn the ropes of investing or an experienced pro that wants to test a new strategy – day trading simulators are a great tool to have on your side.
In this guide, we review the best day trading simulators for 2021 and show you how to get set up with a demo account today.
In This Guide
Below you will find a list of which online brokers offer the best day trading simulator platforms. We review each provider in more detail further down.
In order to use a top-quality day trading simulator – you will need to open an account with a brokerage site. After all, the best day trading simulator platforms will mirror live market conditions. As such, you should choose a day trading simulator provider that you actually intend on using when you start staking with money.
With this in mind, below you will find a list of the 10 best day trading simulator brokers for 2021.
eToro is an online broker that is now used by over 20 million people. The platform is simple to use and offers a huge number of asset classes. Once you open an account – which should take you no more than a few minutes, you will have access to the provider’s day trading simulator. This mirrors actual market conditions in terms of price movements, liquidity, and volatility.
The paper trading simulator at eToro comes loaded with $100,000 in demo funds and you use it for as long as you wish. In fact, switching between ‘demo’ and ‘live’ mode can be achieved at the click of a button. When it comes to supported markets, eToro covers dozens of forex trading pairs across the majors, minors, and exotics. You can also trade commodities like oil, gold, silver, platinum, natural gas, wheat, and sugar.
If you are more of a traditional long-term investor, eToro also supports 2,400+ shares from 17 international stock exchanges. ETFs from the likes of Vanguard and iShares and also available, as are cryptocurrencies such as Bitcoin and Ethereum. All of the aforementioned assets can be accessed via the demo account facility – which is why eToro stands out as the best day trading simulator for 2021.
Presumably, you will be looking to day trade with real money at some point. When you do, you’ll be pleased to know that you can invest and trade on the eToro platform without paying any commissions. Spreads apply to CFDs trades and USD-denominated deposits are free. Non-USD payment methods come with a small charge of 0.5%. Supported payment methods include debit cards, credit cards, e-wallets like Paypal, and bank transfers.
The minimum deposit for real money trading will depend on where you are located – but typically averages just $200. The minimum trade value is $25 on cryptocurrencies and $50 on stocks, ETFs, and other assets. We should also mention the social trading platform that eToro offers. Not only does this allow you to discuss trading ideas with other eToro users, but you can also use the copy trading tool. This allows you to copy an experienced day trader like-for-like – paving the way for passive trading.
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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
If you’re searching for the best day trading demo account for beginners – you might want to consider using Capital.com. This regulated forex and CFD provider is very popular with first-timers – as its trading platform is really user-friendly. It’s super easy to find markets on the platform and placing orders is a breeze – even for newbies.
The day trading simulator offered by Capital.com is available to all users once an account has been opened. This should take you a couple of minutes and does not require a deposit to be made. As we would expect, the demo account facility at Capital.com mirrors live market conditions. You will be able to access a wide range of assets – inclusive of stocks from a magnitude of exchanges, ETFs, forex, metals, cryptocurrencies, energies, and more.
Capital.com also offers an education department that is well worth making use of, while you get to grips with its day trading simulator. In terms of fees, Capital.com does not charge any commissions – so everything is built into the spread. You can deposit and withdraw funds for free – with the minimum account balance standing at just $20. Supported payment types include e-wallets, bank transfers, and debit/credit cards.
76.25% of retail investor accounts lose money when trading CFDs with this provider.
One of the best day trading simulator free platforms that we came across was Libertex. The primary standout feature offered by this top-rated CFD trading site is that it charges tight spreads. On the other side, the platform makes its money by charging a very small commission that in most cases - amounts to less than 0.01% per slide.
This is an ideal pricing structure for day trading pros that wish to target small but frequent gains. The day trading simulator at Libertex can be accessed without you needing to make a deposit. Instead, you simply need to open an account - which should take you a couple of minutes at the most. Then, you will have access to real day trading market conditions alongside demo funds of €/£/$ 50,000 (depending on location).
At Libertex, you will have access to many popular asset classes - including but not limited to indices, stocks, ETFs, crypto assets, forex, and commodities. The broker is well established in the trading scene - first opening its doors back in the late 1990s. The minimum deposit for real money trading is just $100 ($10 minimum for all subsequent deposits). Instant payment methods include debit and credit cards, as well as e-wallets like Paypal.
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83% of retail investors lose money trading CFDs at this site.
If you are looking for the best free day trading simulator for currencies, Forex.com is well worth considering. This top-rated forex trading site gives you access to over 80 currency pairs. You can trade online or via the Forex.com app. In fact, Forex.com also gives you access to third-party trading platforms like MT4.
To start using the free day trading simulator at Forex.com - you will need to open an account. Once you do, you can then use the demo account for 30 days. This is perhaps the biggest flaw with Forex.com - as the best day trading simulator brokers will give you unfettered access to its demo facility for as long as you wish.
Nevertheless, if you decide to upgrade to a real money account at Forex.com - there is no minimum deposit if you transfer funds from your bank account. The minimum stands at $100 if opting for a Paypal or debit/credit card deposit. In terms of fees, Forex.com offers several account types - so commissions will depend on the one you opt for. Most traders go with the Standard Account - as all trading commissions are built into the spread.
67% of retail investors lose money trading CFDs at this site
TD Ameritrade is one of the most popular stock trading brokers in the US. As such, it makes sense that this age-old brokerage site offers one of the best day trading demo accounts for stocks. In order to gain access to the TD Ameritrade demo account facility, you will first need to open an account. Then, you will be required to install the thinkorswim trading platform.
This is the primary trading platform development used in-house by TD Ameritrade and it is particularly popular with experienced investors. This is because it comes packed with advanced trading tools and market indicators. Once you have opened up the thinkorswim platform, click on the 'paperMoney' button underneath the login box.
In doing so, you will then be able to trade stocks in live market conditions without needing to risk any money. If you then decide to use TD Ameritrade to buy and sell assets with real capital - there is no minimum deposit. You will have access to thousands of stocks here - with US-listed shares available on a commission-free basis. TD Ameritrade also offers a top-rated mobile trading app that also comes with a demo account facility.
Your capital is at risk.
If you are looking for the best day trading simulator app - Interactive Brokers stands out for us. The IBKR Mobile app is proprietary to Interactive Brokers and is available on both iOS and Android devices. We like this day trading simulator app because it comes packed to the rafters with features and tools.
For example, all conditions mirror actual market activity - and you'll be able to test out strategies across any of its supported asset classes and exchanges. If you are trading OTC spot metals or currencies, you will get access to real-time data feeds. This top-rated day trading simulator app also comes with financial news feeds and heaps of technical indicators. If you are an advanced trader, you'll also find the market scanner, options strategy lab, and risk navigator tools of interest.
When it comes to the fundamentals, Interactive Brokers offers thousands of financial markets across 33 countries. This includes everything from stocks, mutual funds, and ETFs to currencies, metals, and energies. You can also trade financial derivatives like options and futures. The platform is regulated in the US and there is no minimum deposit - should you wish to upgrade to a real money account. Finally, US-listed stocks and ETFs can be bought and sold commission-free.
Your capital is at risk when trading forex with this provider
AvaTrade is a great option if you are looking to connect MT4 or MT5 to a day trading simulator-free platform. The process of getting started is very simple - as you merely need to register your personal details. Then, AvaTrade will send your account login details for MT4 or MT5 - depending on which platform you want to use.
Once you are logged into the MT4/5 demo account - you can then start trading straight away without needing to deposit or risk any capital. AvaTrade focuses on CFD instruments - covering various popular marketplaces. This includes forex, commodities, indices, stocks, and more. There are no commissions at AvaTrade - so all fees come via the spread.
AvaTrade has grown its customer base at a rapid pace over the past few years - with the broker aiming to go public later in 2021. It is licensed in six jurisdictions - so safety should be of no issue. All markets offered by AvaTrade can be traded with leverage. Limits will depend on the market and your country of residence. If you want to trade for free on your mobile - demo facilities are also offered on the AvaTradeGO app - which is available on iOS and Android.
71% of retail CFD accounts lose money with this provider.
FXCM has been offering online trading services for over 20 years. This brokerage site is particularly popular with those that wish to deploy automated trading strategies via algo systems of forex EAs. You can install your chosen trading robot via a number of supported third-party platforms - inclusive of MT4, ZuluTrade, and NinjaTrader.
Furthermore, FXCM offers a third-party marketplace that allows you to purchase proven algo strategies and systems. Best of all, FXCM offers a fully-fledged day trading simulator that is free to use. All you need to do is open an account and you can use the demo facility via your chosen platform. This comes packed with $/£ 50,000 in paper trading funds. When it comes to supported markets, FXCM offers a diverse asset library.
For example, you can trade shares, indices, forex, crypto assets, hard metals, energies, and more. This platform does not charge any trading commission - so again, it's only the spread that you need to be aware of. You can also trade your chosen asset with margin. If you are based in the UK or Ireland, FXCM also offers a financial spread betting platform that can be trialed via a demo account.
Financial derivative markets like futures and options are getting more and more popular in the retail investor space. This is because they offer a more flexible approach to financial speculation - both in terms of long/short capabilities and being able to trade with leverage. If this is something you wish o try for yourself - consider TradeStation.
This top-rated US-based brokerage site covers an abundance of options and futures market - most of which center on stocks. With that said, there are also derivative markets that cover currencies, indices, treasuries, metals, and more. To trade these complex financial instruments in a risk-free manner - you'll first need to open an account with TradeStation.
Then, it's just a case of opening up the free day trading simulator and practicing your chosen strategies. If you decide to upgrade to a real money account, TradeStation charges just $0.50 per options contract. Futures start from just $1.50 per contract - which is also very competitive. If you decide to diversify into the stock market, you can buy US-listed shares without paying any commissions. The main drawback with TradingStation is that is a bit thin on the ground when it comes to international assets.
Your capital Is at risk.
Trading 212 is a popular share dealing and CFD trading platform that is popular with newbie investors. This is because the platform charges no commissions and there is no minimum deposit policy. In fact, at Trading 212, you can invest in or trade your preferred financial instrument at a stake of just $1.
This is because Trading 212 offers full support for fractional ownership across all of its assets. We also think that Trading 212 offers one of the best day trading simulator platforms as you do not need to open an account to gain access. On the contrary, you simply need to download the iOS/Android app and click on the 'Demo' button. Then, you will have access to live market conditions in a risk-free manner.
All demo accounts come with a paper trading balance of $/£50,000 - but you can reset this at any given time. As such, even if you blow through your balance, you can continue to use the Trading 212 simulator. Supported markets at this brokerage platform include more than 10,000 stocks and ETFs from a variety of exchanges. Crucially, buying assets at Trading 212 is 100% commission-free. You can also trade CFD instruments - such as forex, commodities, and indices.
With virtually all top-rated brokers now offering a day trading simulator of some sort - knowing which one to go with can be challenging. We would suggest choosing a provider that you actually intend on using once you get around to trading with real capital. This is because you will have already got to grips with how the platform itself works.
Nevertheless, if you're still looking for a bit of inspiration - below we discuss the core metrics to look out for when choosing the best day trading simulator for you.
All of the best day trading simulator providers discussed today will give you a fixed amount of paper funds when you use the demo account. For example, at eToro, you will get a balance of $100,000 while at Trading 212 it is $/£ 50,000. It is important to note that you should only paper trade with stakes that mirror your actual budget.
For example, if you are looking to deposit $200 into your chosen brokerage account - you shouldn't be paper trading with large stakes. In fact, following the risk management rule of 1% - a $200 deposit should see you using the day trading simulator at a stake of no more than $2 per position!
The best day trading simulator brokers - such as eToro, allow you to use the demo account facility for as long as you wish. However, some providers in the space will only allow you to use the demo platform for a limited number of days.
This is the case with Forex.com - which only permits access to its day trading simulator for a maximum of 30 days. This is problematic - as you might want to come back to the demo account facility at a later date to test out a new trading strategy or system.
Perhaps the most important metric to consider in your search for the best day trading simulator is whether or not you will have access to full functionality. For example, when using the eToro demo account, everything mirrors actual market conditions. This means that you will have access to the same financial markets, asset price movements, and liquidity levels.
This is really important - as the main purpose of simulators is to prepare you for real money trading. Unfortunately, some of the brokers that we came across only provide partial access to the markets. This means that when using the respective day trading simulator - access to certain features or functionalities will be limited.
It goes without saying that you need to choose a day trading simulator that offers your preferred market. Whether that's stocks, indices, forex, commodities, or futures - be sure to check that the broker supports your chosen asset.
All you need to do is provide some basic personal information alongside your contact details.
This is another reason why we think that eToro is the best day trading simulator - as the broker offers thousands of assets. This is inclusive for traditional assets like stocks and index funds - as well as CFD instruments that cover metals, energies, currencies, and more.
If you are looking to become a consistently profitable day trader - then you will need access to research and analysis tools. This will allow you to make smart and logical trading decisions - as opposed to following third-party advice.
As such, you'll want to choose a day trading simulator that comes packed with technical indicators and market sentiment tools. The latter should include up-to-date financial news developments so that you can trade in a well-informed manner. An additional tool that is worth mentioning is the eToro copy trading feature.
This will see you mirror the buy and sell positions of an experienced trader - subsequently allowing you to benefit from passive investing. In fact, you can use this feature via the eToro demo account.
Wondering how to use a day trading simulator in the most effective way possible? If so, we are now going to walk you through the process of using the eToro demo account.
Like most of the best day trading simulators discussed on this page - eToro requires you to register an account before you can gain access. Don't worry, as this should take you no more than a few minutes.
On the left-hand side of the dashboard - you see a small tab labeled 'Real Portfolio'. This is just below your username. Click it, and change it to 'Virtual Portfolio'.
In doing so, you will now see that your balance stands at $100,000. As such, you are now free to use the eToro day trading simulator in a 100% risk-free manner.
Click on the 'Trade Markets' button to view what assets eToro supports. You can break this down further by clicking on the type of market - such as crypto day trading or stocks.
You can also search for the specific asset that you wish to trade. In the example above, we are searching for 'EURUSD'.
You will now see an order box. Set up your trade parameters - such as whether your want to place a buy/sell order, your stake, and stop-loss/take-profit prices.
Click on the 'Set Order' button to place your risk-free paper trade.
If you are happy with the eToro demo facility and wish to start trading with real money - you can switch back to 'Real Portfolio' mode by clicking the tab below your username.
You will, however, need to deposit some funds because you trade with your own capital. At eToro, the regulated broker supports a wide range of payment methods. This includes debit/credit cards, e-wallets (including Paypal), and bank transfers.
Day trading simulators are a super-useful tool used by investors of all shapes and sizes. Whether you want to learn how online trading works or to wish to test out a new strategy - the best day trading simulators allow you to achieve this goal on a risk-free basis.
We found that the best broker offering a free day trading simulator is eToro. Once you register, you'll have access to live market conditions across thousands of assets. The broker is commission-free too - so when you eventually decide to start trading with real money, you'll be doing so in a cost-effective environment.
Otherwise referred to as a 'demo account' or 'paper trading' facility, day trading simulators allow you to trade financial assets without risking any money. Instead, you will be trading with demo funds. The best day trading simulators will mirror actual market conditions and offer full functionalities.
Commission-free broker eToro offers the best day trading simulator. You can trade each and every market that eToro offers on its real-money accounts - but in a risk-free manner. The demo account comes with $100,000 in paper funds and you don't need to deposit any money to gain access.
Our top-rated day trading simulator broker - eToro, also offers a demo account facility via its Android and iOS app.
If you are looking to learn how to trade via a free demo account - you can get started with newbie-friendly broker eToro in minutes. The platform is simple to navigate and you can use the free demo account for as long as you wish.
Yes, in the vast majority of cases - practice trading platforms offered by brokers will mirror real market conditions.
If you're looking for the best backtesting platform for stocks - consider eToro. You will be able to trade more than 2,400 stocks in a risk-free manner by using the eToro demo account.
In order to trade on MT4 via a demo account, you first need to register with a suitable broker. The broker must, of course, offer support for MT4. Once you have registered, you can sign into your MT4 demo account with the username and password you choose when registering with the respective broker.
Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck, InsideBitcoins, Blockonomi, Learnbonds, Buysharesand the Malta Association of Compliance Officers.
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