What are the best sites offering demo accounts to practice on?

Sharky

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Edited by timsk Oct' 2010
This thread was originally in the Trading FAQ sub-forum. It's now linked in post #3 of the catchall FAQ Can You Recommend a Data Feed, Charting Software & Broker?
 
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If you want tight spreads Oanda is hard to beat. Their Platform/charts aren't the best but usable and they are web/java based. FXSolutions would be my next choice. More robust platform desktop based and better charting.
 
For Commodity Futures Trial Programs

Look into RJO Futures, Open E Cry and Daniels Trading (dtPro).
They all have the same program but they use a different name for the program. Each has a 2 week real time quote trial. You can get one and about the time that trial runs out you can get registered for the next one until you have used 6 weeks of trial. Pretty good if you ask me. The programs are very good. You can trade(Mock) day or night. If anyone gets the program and needs some help getting it set up, let me know and I will do what I can to help.

Do a Google search for the companies above to locate the trials.

Cheers. :clap:
 
CMSFX has a pretty good trading platform. Here's a promo shot they have on their site.

cms1.jpg


I've been using it for awhile now and it has some pretty good extras.

A note: I'm not affiliated with CMSFX. I just like their stuff.

good trading
RT... :idea:
 
Thanks for the links.
I have tried OEC to start and do like the system and it's good to learn that others use their type software.
I am totally new to futures trading and am paper trading until I learn more about it.
This is really a great site for new traders (potential).
 
I must make a correction to my post quoted below. I opened a live account with the a little bit ago. Easy to do actually. However, I started getting calls about when I was going to fund it. I told them I would send funds in about a week.

rtsurvivor said:
CMSFX has a pretty good trading platform. Here's a promo shot they have on their site.

cms1.jpg


I've been using it for awhile now and it has some pretty good extras.

A note: I'm not affiliated with CMSFX. I just like their stuff.

good trading
RT... :idea:
Click to expand...


Evidently that did not go over very well. I started getting pressure callS to fund the account. Now that's not that big a deal to most, but to me it kills a lot of deals. So, I no longer have an account with CMSFX. :rolleyes:

Their platform is still good. I just don't like the aggravation. :sleep:

OK, I'm now looking at a new place. Interbank FX. (IBFX) There is some really good information on their site and a ton of trading tools. One really good one is something they call PRS. (Pattern Recognition Service.) (y)

There's a DEMO and Complete version for member traders.

Here's a pic of one of the patterns they get with scanning all time frames and pairs.

prs1.jpg


This stuff can come in pretty handy if you're a pattern trader. I downloaded it today so I don't have that much experience with it yet. But, so far I'm impressed. :clap:

Anyhow, 1st impressions with IBFX are very hig. (y)

Good trading
RT... :idea:
 
rtsurvivor said:
I must make a correction to my post quoted below. I opened a live account with the a little bit ago. Easy to do actually. However, I started getting calls about when I was going to fund it. I told them I would send funds in about a week.




Evidently that did not go over very well. I started getting pressure callS to fund the account. Now that's not that big a deal to most, but to me it kills a lot of deals. So, I no longer have an account with CMSFX. :rolleyes:

Their platform is still good. I just don't like the aggravation. :sleep:

OK, I'm now looking at a new place. Interbank FX. (IBFX) There is some really good information on their site and a ton of trading tools. One really good one is something they call PRS. (Pattern Recognition Service.) (y)

There's a DEMO and Complete version for member traders.

Here's a pic of one of the patterns they get with scanning all time frames and pairs.

prs1.jpg


This stuff can come in pretty handy if you're a pattern trader. I downloaded it today so I don't have that much experience with it yet. But, so far I'm impressed. :clap:

Anyhow, 1st impressions with IBFX are very hig. (y)

Good trading
RT... :idea:
Click to expand...
I'd back up this comment on IBFX. They give you $50K to play with so you're not going to lose all that - and if you do, just open another account - they don't hassle you for deposits and the demo goes on forever, as far as I can see. Whether it bears an exact relationship to their Live account, I don't know, I am happy to use the facilities of an MT4 platform which this is, but I must confess that I use IG and CMC for my actual trading. I like big firms, with lots of capital, properly regulated, to hold my money! IBFX is US based; I don't know their capitalisation but a lot of these MT4 traders have off-shore addresses and have very low capital reserves so it pays to investigate any with whom you are thinking of placing money.

Reason I mention the relationship between Live and Demo is that very often you find that there is not the same alacrity in accepting your trades when you go live and you may also start to get re-quotes on prices. It's also fairly well-known that the Metatrader lessors offer various software tricks to their lessees, some of which give the brokers a lot of control of your trading. Never forget that they can see your whole trade on their screens, limits and stops, a bit like showing your cards to the dealer in a casino.

IBFX were recently fined $100K for allowing their advertising to give the impression that they are NDD (non dealing-desk) traders, when this is not the case. However, their Demo platform is fine, they can't harm you there!

Good Luck!
 
s & p

I want to day trade the S & P mini but most brokerages want $25000 account to start. First I would like to practice on a demo. Any suggestions on a discount broker and a good free trade demo?
 
Ava FX have a good platform and easy to open demo account. They trade alomst everything, have tight spreads and run 24 hours. In addition, with a real money account you can trade from $0.1 a pip.

I have a friend who uses them and I've tried the demo - impressive. www.avafx.com They are in Cyprus so who know about regulation but they've been going a while.
 
I have been using IBFX's pattern recognition software for some time now. I have to say it works great. Of course you need to be prudent. It took several months to figure out which combination of the quality/breakout/trend indicator that shows for each pattern worked best for me. I'm using it on a live account, but I would recommend trying it on a demo until you find what works best for you.

Good Luck!
Peter
 
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