Best Demo Stock Trading Accounts

Irrespective of whether you’re a first-time investor or a seasoned pro, demo stock trading accounts can be an invaluable tool to make use of.

Put simply, you will be able to buy and sell stocks in live market conditions – but without risking any of your own capital.

In this guide, we compare the 9 most popular demo stock trading accounts in the market right now.

Just remember – in the vast majority of cases, demo stock trading accounts are offered by online brokers. As such, you should choose a demo account provider that you will eventually intend to use for real money trading. 

Most Popular Demo Stock Trading Accounts Reviewed

In choosing the most popular stock trading demo account, you will need to take into account a range of important factors.

For instance, it’s probably wise to open a demo account with an online broker that you plan to use once you are ready to trade with real money.

As such, you’ll first want to check out where the platform stands in terms of fees, commissions, account minimums, and payment methods.

Moreover, you should check how much you will be given in paper funds and whether the demo account comes with an expiry date. Most importantly, make sure that the demo account mirrors live market conditions.

We consider the above metrics and more in our reviews of the most popular demo stock trading accounts – which you will find below.

1. eToro – Overall Most Popular Demo Stock Trading Account

eToro is home to one of the most popular stock trading demo accounts. Once you have opened an account with this provider, you can switch your portfolio over to demo mode. This will then give you unfettered access to the eToro platform – but without needing to risk any capital.

In fact, you will not be required to deposit any funds in order to gain access to the eToro demo platform. You will be given $100,000 in paper trading funds, which is more than enough to get to grips with both the eToro platform and the stock markets. Moreover, if you burn through your paper trading balance, you can replenish it at any time.

We also like the eToro stock trading demo account as there is no time limitation. Instead, you can switch between real and demo mode at any given time. At eToro, you can use your newly created demo account to buy and sell thousands of stocks across more than a dozen markets. This includes stocks listed in the US, Canada, Europe, Asia, and more.

You can also use the demo account to buy cryptocurrency and ETFs. Most importantly, the eToro demo platform mirrors live market conditions. When you are ready to invest with real money, the eToro stock trading platform requires a minimum deposit of just $10 if you’re from the US or the UK. Otherwise, the minimum stands at just $50.

Deposits made in US dollars will attract no fees regardless of the payment methods being used. Supported deposit types are inclusive of e-wallets, debit/credit cards, online banking, and ACH. eToro is regulated by the SEC and FINRA to offer stock trading services in the US. The platform is also licensed by regulators in the UK, EU, and Australia.

When it comes to convenience, this is where eToro really stands out. As you will notice when using its demo account feature, searching for markets and placing orders is simple – even if you are a complete beginner. This is also the case with the eToro stock trading app, which also comes with demo fund functionalities.

In terms of fees, eToro does not charge anything to use its demo account tool. If you decide to buy and sell stocks in live market conditions, you will not be charged any commissions. Moreover, the minimum real-money stock trade is just $10. This means that once you eventually decide to switch over to real mode, you won’t need to risk large sums of capital.

Finally, we should note that eToro offers a copy trading feature. This allows you to choose an eToro trader and subsequently copy their portfolio and future investments. As such, you can trade stocks without needing to research the markets, or place, buy or sell orders. Finally, eToro also offers professionally-managed investment baskets via its smart portfolio tool.

Your capital is at risk. 79% of retail investor accounts lose money when trading CFDs with this provider.

2. Webull – Demo Account With $1 Million in Paper Trading Funds

Webull is also popular with US-based investors that seek access to a live stock trading demo account. At this broker, your paper trading balance will come pre-loaded with $1 million. Although this is far more than you will likely need, this reduces the risk of burning through your demo balance.

The Webull demo account links to the real financial markets, which means that you will be trading in live conditions. You will also have access to technical indicators and chart drawing tools, if you are looking for a demo account that will enable you to learn advanced investment strategies. 

To gain access to the Webull demo trading facility, you will first need to open an account. You will also need to upload some ID so that your account is verified. There is, however, no requirement to deposit any trading capital to start using the Webull demo account.  

In terms of supported markets, Webull allows you to buy and sell thousands of US-listed stocks. Apart from a small number of ADRs, international stocks are thin on the ground. You can also use your demo account to trade stock options, ETFs, and cryptocurrencies. If you decide to trade with real money, Webull supports deposits via ACH and domestic bank wires.

Your capital is at risk.

3. Interactive Brokers – Paper Trading Account With Access to Thousands of Markets

Interactive Brokers is a popular trading platform that serves millions of clients in the US and beyond. This platform is a wise choice if you wish to build a diversified portfolio of assets across stocks, index funds, ETFs, bonds, and more.

You might also consider using Interactive Brokers if you wish to engage in a short-term trading strategy, as its highly advanced interface comes packed with tools and chart reading features. In terms of its demo trading account, Interactive Brokers offers a free trial. This allows you to access its IBKR trading suite across desktop and mobile without needing to risk any funds.

Although you can trade risk-free, data is delayed by 10-15 minutes. Although this shouldn’t disadvantage long-term investors, this is a major drawback for short-term day traders. You can upgrade your free trial to a real Interactive Brokers account at any time. If you do, you can trade US-listed stocks from just $1 on a commission-free basis.      

4. TD Ameritrade – Risk-Free Demo Account via Thinkorswim Platform

If you’re an experienced technical trader that seeks an advanced interface, TD Ameritrade is well worth considering. This popular broker is home to thinkorswim, which offers a full suite of chart analysis tools, screeners, technical indicators, and more.

If you want to try thinkorswim via a demo account, you will first need to register with TD Ameritrade. Then, you will need to download the thinkorswim software to your desktop device, before switching the toggle to ‘paperMoney’.  If you find that thinkorswim is for you, real money accounts require no minimum deposit and you can trade US-listed stocks commission-free.

5. Fidelity – Create Stock Investment Strategies and Ideas via Active Trader Pro

Fidelity does not offer a demo account per se, insofar that you will not be able to trade with paper funds.

You can, however, try its native platform – Active Trader Pro, for free. This advanced platform comes pre-loaded with all of the tools and features that you will need to day trade stocks.

This includes customizable charts, real-time insights, and technical indicators. You can use Active Trader Pro to generate investment ideas and strategies before you upgrade to a real money Fidelity account.

In choosing Fidelity, you can buy US-listed stocks without paying any commission. You can also access bonds, index funds, ETFs, and more.

6. TradeStation – Trade Stocks, Options, and Futures via a Demo Account Platform

TradeStation is a popular online broker for those that seek low trading fees. You can trade US-listed stocks, ETFs, options, and futures without paying any commissions.

If you want to test-drive the platform first, TradeStation offers a free stock trading demo account for all registered users. The account will mirror that of real market conditions, which is a major advantage.

We also like that you will be offered an unlimited amount of paper trading funds, so you can use the demo account without worrying about burning through your bankroll.

TradeStation also offers a huge database of historical stock data, so its demo account is for testing new strategies and investment ideas. If you’re an experienced investor, you will like the TradeStation demo account for its advanced orders and strategy automation tools.

7. Schwab – Learn Technical Analysis in Real Stock Market Conditions

Schwab is another platform that does not give you access to paper trading funds. Instead, when you switch over to demo mode with this provider, you will have unfettered access to its advanced trading suite.

For instance, you will be able to use its demo platform to perform technical analysis via indicators and drawing tools. You can also practice entering and exiting orders, and observe Level II pricing data.

You can also view the full list of stocks that can be traded at Schwab. With this in mind, this demo account will only be suitable if you are thinking about using Schwab to trade with real money, but you want to test its platform out first.

8. Ally Invest – $50,000 Practice Account for 30 Days

If you’re a beginner, Ally Invest offers the most popular demo trading account for stocks. Its website and mobile app for iOS and Android offer a simple and burden-free way of buying and selling stocks. And, all US-listed stocks on this platform can be traded commission-free.

Before trading with real money, you might consider the Ally Invest demo account. This comes pre-loaded with a paper trading balance of $50,000. Moreover, the demo platform mirrors actual trading conditions. The main drawback here is that the Ally Invest demo account is only active for 30 days.

9. TradingView – Third-Party Charting Tool Supported by Many Brokers

TradingView is the only entry on our list of the most popular demo stock trading accounts that isn’t a brokerage firm. On the contrary, TradingView is a third-party trading platform that is integrated with multiple online brokers.

Put simply, it offers an advanced way to analyze the stock markets from a technical standpoint. This includes a significant number of economic and technical indicators and fully customizable charts. TradingView allows you to share ideas and market insights with like-minded investors.

However, do note that in order to use TradingView to place trades with demo funds, you will need to go through a broker that supports its platform.

Most Popular Demo Stock Trading Accounts Reviewed

If you’re still unsure as to which provider is the most popular demo stock trading account for you – consider the comparison table below:

How do Stock Demo Accounts Work?

In most cases, the most popular stock demo accounts allow you to buy and sell equities without risking any of your own trading funds. Instead, you will be given paper trading money, which you can use to enter and exit positions.

You should find that your chosen stock paper trading account mirrors actual market conditions. This means that the stock price movements – as well as volatility and market depth, will replicate the data that you would see if you were trading with real money.

• As a result, stock market paper trading accounts allow you to practice new ideas and strategies without risking any capital.
• You can also use a demo account to get to grips with a broker that you are considering using.
• Moreover, and perhaps most importantly, stock accounts can be an invaluable tool if you have never traded stocks previously.
• Not only can you learn how to search for stocks and place orders – but utilize charts and research other tools.

The most popular demo stock trading accounts that we came across simply require you to register to gain access.

This means that you will not be required to make a deposit into your account. Instead, you only need to do this when you want to trade stocks with real money.

Benefits of Stock Demo Accounts

In the sections below, we discuss the many benefits offered by the most popular stock demo accounts currently in the market.

For First Time Investors

Let’s suppose that you are completely new to the investment scene and thus – you have never previously traded stocks. In this scenario, making a deposit into a brokerage alone can be an intimidating process.

This is before you even get to the point of researching stocks, searching for the company on the platform, and subsequently placing an order.

This is where the most popular demo stock trading account providers come in.

This means that you can use the platform for as long as you want without risking any capital. Only when you are sure that the broker is right for you might you consider making a deposit.

Test New Strategies

At the other end of the spectrum, you might be an experienced stock investor with a new trading strategy that you are thinking of deploying.

Under normal circumstances, the only way that you would be able to test this strategy is to put your money on the line via a real trading order. However, by using a demo account, you can achieve the same goal without risking a cent.

This is because when you use a demo account, you are given an allocation of ‘paper’ funds.

Learn Risk Management Methods 

Another benefit that the most popular demo stock trading accounts offer is that you can get a firm grasp of how to create and deploy risk management methods. At the forefront of this is placing stop-loss and take-profit orders.

The former allows you to instruct your chosen broker to close an outstanding stock position if it goes down by a certain percentage (e.g. 5%) or it hits a specific price (e.g. $110.50/share).

Take-profit orders, on the other hand, allow you to lock in a predefined target as soon as it is matched by the markets. This can also be deployed as a specific share price or a percentage rise.

Trial a New Broker

We also like demo accounts as they allow you to test-drive a broker that you are thinking about using before depositing any funds. After all, there are dozens of brokers in the online space.

As such, it can be difficult to know which platform is right for you. But, by starting off in demo mode and trading with paper funds, you can make an informed decision without being required to make a deposit.

Conclusion

In summary, demo accounts allow you to trade stocks in a 100% risk-free environment. This is because instead of risking your own money, you will be trading with paper funds.

FAQs on the Most Popular Demo Stock Trading Accounts