Best Brokers For Trading Simulators
Explore the best trading simulators based on our years and countless hours of hands-on testing.
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When we tried Interactive Brokers' demo, it closely matched the live TWS platform with access to global markets and advanced order types. Execution speed seemed realistic, but fast-moving assets showed some slippage. Setup needed basic details. The virtual balance was $1M, but trading was enabled only after account approval.
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During testing, NinjaTrader's demo offered quick execution and low slippage, perfect for futures and active traders. The platform accurately reflected the live environment, including depth-of-market tools. Setup needed only an email, providing users with a $50,000 virtual balance. The demo had no time limit, ideal for long-term strategy testing.
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When testing eToro USA's demo, execution speeds were slower than ECN brokers but were acceptable for social and crypto trading. The demo closely resembled live trading, offering a $100K virtual balance with full access to stocks, crypto, and ETFs. No KYC was required. Slippage was moderate during volatile times. The demo has no expiration.
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During testing, Plus500’s demo was immediately accessible without personal details or expiration. It closely resembled the live platform, offering CFDs on forex, stocks, crypto, and indices. Execution was quick, but spreads were wider, with EUR/USD averaging 0.8–1.2 pips. The $40,000 virtual balance automatically refilled when used up.
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5OANDA is a well-known broker that excels in quick trade executions, a low deposit requirement, and impressive charting and trading platform functions. The highly-regarded brand has over 25 years of expertise and is overseen by reliable authorities like the NFA/CFTC. It provides 24/7 support for traders and offers flexible contract sizes with automated trade executions.
Compare Top Trading Simulators In Core Areas
| Broker |  |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | ✓ | $0 | $100 | 1:50 | ✗ | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF | Capitalise.ai, TWS API | ✓ | ✗ | |
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✓ | ✓ | $0 | 0.01 Lots | 1:50 | ✗ | NFA, CFTC | Forex, Stocks, Options, Commodities, Futures, Crypto | NinjaTrader Desktop, Web & Mobile, eSignal | USD | NinjaScript or via Automated Trading Interface | ✗ | ✗ | |
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✓ | ✓ | $100 | $10 | ✗ | ✓ | SEC, FINRA | Stocks, Options, ETFs, Crypto | eToro Trading Platform & CopyTrader | USD | ✗ | ✗ | ✗ | |
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✓ | ✓ | $100 | Variable | Variable | ✗ | CFTC, NFA | Futures on Cryptocurrencies, Metals, Agriculture, Forex, Interest rates, Energy, Equity Index future contracts | WebTrader, App | USD | ✗ | ✗ | ✗ | |
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✓ | ✓ | $0 | 0.01 Lots | 1:50 | ✗ | NFA, CFTC | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) | OANDA Trade, MT4, TradingView, AutoChartist | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD | Expert Advisors (EAs) on MetaTrader | ✓ | ✓ | |
| Broker | |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best Brokers For Trading Simulators are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✓ | ✓ | |
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✗ | ✗ | ✗ | |
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✗ | ✗ | ✓ | |
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✗ | ✗ | ✓ | |
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✓ | ✗ | ✗ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best Brokers For Trading Simulators.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
|---|---|---|---|---|
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iOS & Android | ✓ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best Brokers For Trading Simulators are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $0 | $100 | ✓ | ✗ | ||
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $100 | $10 | ✓ | ✗ | ||
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✓ | $100 | Variable | ✗ | ✗ | ||
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best Brokers For Trading Simulators are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Capitalise.ai, TWS API | ✗ | ✗ | ✓ | ✗ | 1:50 | ✓ | ✓ |
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NinjaScript or via Automated Trading Interface | ✗ | ✗ | ✗ | ✗ | 1:50 | ✓ | ✗ |
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✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ | ✓ |
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✗ | ✗ | ✗ | ✗ | ✗ | Variable | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | ✓ | ✗ | 1:50 | ✓ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best Brokers For Trading Simulators.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | USD: 4.8%, GBP: 4.7% | ✗ | ✓ | ✓ | ✗ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | USD: 4.9% | ✗ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best Brokers For Trading Simulators in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best Brokers For Trading Simulators.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✗ | $0 | 0.003 | 0.08-0.20 bps x trade value | 0.12%-0.18% | |
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✗ | $25 | ✗ | 1.3 | Floating | |
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✓ | $10 | $0 | ✗ | BTC 0.75% | |
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✗ | $0 | ✗ | 0.75 | ✗ | |
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✗ | $0 | ✗ | 1.6 | $100 | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best Brokers For Trading Simulators are in terms of number of clients.
| Broker | Popularity |
|---|---|
| Interactive Brokers |
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| eToro USA |
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| NinjaTrader |
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Why Trade With Interactive Brokers?
Interactive Brokers is ideal for seasoned traders due to its robust charting platforms, updated data, and adaptability, especially with the IBKR Desktop application. Its exceptional pricing and advanced order features appeal to traders, and its variety of stocks remains unmatched in the market.
Pros
- The new IBKR Desktop platform combines the advantages of TWS and adds unique tools like Option Lattice and Screeners with MultiSort to make trading accessible and impressive for traders of all levels.
- IBKR, primarily designed for skilled traders, has expanded its appeal recently by eliminating its initial $10,000 deposit requirement.
- Interactive Brokers was named Best US Broker for 2025 by DayTrading.com for its dedication to US traders, ultra-low margin rates, and affordable global market access.
Cons
- TWS's platform may be difficult for beginners to grasp because of its complexity - we were overwhelmed during our initial tests by the sheer volume of tools, features and widgets.
- Only one active session per account is allowed, which means you can't run the desktop version and mobile app at the same time. This can sometimes lead to a frustrating trading experience.
- Customer service may take time to respond, and there may be delays in fixing problems based on tests. It could be difficult to reach the customer service promptly.
Why Trade With NinjaTrader?
NinjaTrader consistently satisfies active futures traders with its low-cost service and high-quality analysis tools. It offers superior charting features, including hundreds of indicators and over 10 chart types.
Pros
- You can access thousands of applications and add-ons from developers worldwide for trading.
- Traders can access a free platform and trade simulation capabilities with the unlimited demo.
- NinjaTrader provides detailed charting software for active traders, complete with custom technical indicators and widgets.
Cons
- Some payment methods require a withdrawal fee.
- You need to register with partner brokers to trade in securities other than forex and futures.
- The advanced trading tools require an additional fee.
Why Trade With eToro USA?
eToro is a top choice for traders due to its top-notch social investing and copy trading services. The broker caters well to new traders with its low deposit requirement, commission-free trading, and user-friendly platform.
Pros
- The low minimum deposit and simple account setup allow beginners to start trading quickly.
- A free demo account enables new users and potential traders to test the broker without risk.
- eToro USA Securities is a reliable broker that's regulated by the SEC, part of FINRA, and a member of SIPC.
Cons
- Traders used to third-party charting tools won't find MetaTrader 4 platform integration.
- The exclusive terminal does not accommodate trading bots and lacks extra equity market analysis tools.
- Average fees can reduce the profits of traders.
Why Trade With Plus500US?
Plus500US is an excellent choice for beginners, offering a user-friendly platform, low trading margins, and access to the Futures Academy to improve trading skills. Its powerful tools and reliable service earned it second place in DayTrading.com's annual 'Best US Broker' award.
Pros
- Plus500US stands out for its low fees, competitive trading margins, and no charges for inactivity, live data, routing, or platform use.
- The trading app offers an excellent user interface with an updated design, straightforward layout, and charts optimized for mobile use.
- Plus500 is a reputable publicly traded company with over 24 million traders and sponsors the Chicago Bulls.
Cons
- Plus500US is expanding its investment options, but it currently only offers around 50+ futures and no stocks.
- The private trading platform is easy to use, but doesn't have the advanced analysis tools that platforms like MetaTrader 4 do.
- Plus500US offers competitive pricing but does not have a discount program for high-volume traders, unlike brokers like Interactive Brokers.
Why Trade With OANDA US?
OANDA is a reputable broker for US traders. It offers user-friendly tools for analysis and a simple sign-up process. It is very trustworthy due to heavy regulation.
Pros
- Experienced traders can use top-notch tools like an MT4 premium upgrade and advanced charting from MotiveWave.
- The broker's API provides access to extensive historical data from the past 25 years and rates from over 200 currencies for traders.
- The broker provides clear pricing without any concealed fees.
Cons
- Few payment options are available and e-wallets are not supported.
- Customer support is not accessible during weekends.
- The trading markets are limited to only forex and cryptocurrencies.
Filters
How BrokerListings.com Chose The Top Trading Simulators
We ranked the top trading simulator providers using their overall ratings. This combines over 200 data points with the hands-on findings of our testers who looked at simulator accuracy, platform performance, features, ease of use, and much more.
How To Pick A Trading Simulator
Using a trading simulator doesn’t require investors to deposit any cash. But although there’s no actual money at risk, it’s important to carefully research which brokerage to use before opening an account to begin virtual trading.
Some of the key things to consider when choosing a broker’s trading sim include:
Trustworthiness
Even if you’re not depositing any real money, it’s important to know the broker you’re looking at is a reputable one that offers a good level of service.
You’ll want to know they offer a reliable trading platform, and that the data their sim uses (whether live or historical) is accurate. It’s also good to know you’ve not provided sensitive personal data to a fraudulent operator.
Being confident in your provider is important, too, as it many investors upgrade to a full-fat trading account later down the line.
Top broker for trustworthiness: XTB is regulated by five different global regulators, including the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities & Exchange Commission (CySEC).
Source: FCA
It’s critical to find a broker that’s regulated by one or more top-tier watchdogs like the FCA and CySEC. Companies that fall foul of regulations can be subject to disciplinary action, including heavy fines to license revocations. This provides individuals with a deep layer of protection.
Pro tip: BrokerListings.com’s Regulator Ranking System – which ranks major regulators according to the protections they offer investors – is an excellent tool to help investors find the right broker.
Product Range
The range of ‘tradeable’ securities can differ substantially from broker to broker. Some only offer a tiny handful of asset classes, the most popular of which are equities and forex. Others offer a more complete product catalogue which may include derivatives (like futures and contracts for difference (CFDs)).
Pro tip: Consider using a broker that offers a wider selection of securities. Doing this can help investors build a broader range of skills, as different asset classes can behave very differently. What’s more, many individuals trade multiple security types in the real world – being able to do this in practice could set you up better for live trading.
Top broker for product range: Interactive Brokers’ trading sim offers one of the widest asset catalogues out there. These include stocks, forex, bonds, cryptocurrencies and exchange-traded funds (ETFs), alongside a selection of popular derivatives like CFDs.
Source: Interactive Brokers
Trading Platform
Brokers have spent fortunes developing their own proprietary trading systems, for both ‘paper’ and ‘real world’ investors.
The right software for you may depend on factors such as the range of tools (such as alerts, advanced charts and risk management tools) on offer; how customizable the interface is; the availability of a mobile app; and the depth of resources (like economic calendars and analyst notes).
Some brokers also allow investors to simulate trading using a third-party platform such as MetaTrader 5 (MT5).
Pro tip: You’ll also need to think about whether the sim operates using live or historical data. For the latter, check how far back the data goes, as limited data can make backtesting results unreliable.
Top broker for trading platform: Pepperstone’s proprietary desktop platform offers an extensive range of tools, while it also provides a mobile app for trading on the go. That’s not all – investors can also choose from a variety of third-party platforms, including MetaTrader 4 and 5 and TradingView.
Source: Pepperstone
Live Accounts
As we mentioned, trading sims are often a gateway for investors who eventually transition to an account where real money is at stake.
It can also pay, therefore, to consider the quality of a broker’s full-fat account when choosing a sim provider. Think about things like trading costs (including transaction fees, account charges, and bid-offer spreads); execution speeds; and the quality of their customer service.
Top broker for live accounts: IC Markets’ offers a broad selection of securities across both their trading simulator and real-money accounts. Investors can also choose from many third-party platforms to use (the broker doesn’t offer its own proprietary software).
IC also offers competitive charges, and accounts in a multitude of global currencies which helps investors avoid currency conversion fees. Finally, spreads on many of its asset classes are tight, meaning reduced costs when individuals enter and exit positions.
What Are Trading Simulators?
Trading simulators are software programs that mimic the process of buying and selling financial securities. The main benefit is they allow new and experienced market participants to test out trading strategies without putting any of their hard-earned money at risk.
These sims aim to replicate the experience of real world trading using either live or historical market data. Trading with historical data is known as ‘backtesting,’ and reveals how a strategy would have played out in the past.
Pro tip: Using a trading simulator is also commonly known as ‘paper trading.’
When an individual signs up with a broker, they’ll be given virtual funds to begin building their portfolio. The amount available can differ significantly, from $10,000 at IG, to unlimited funds over at Pepperstone.
What Are The Pros And Cons Of Using Trading Simulators?
Trading simulators offer significant benefits for investors of all levels. However, they also have limitations that can cause problems later down the line.
Here are some of the key advantages and disadvantages to consider:
Pros
- They provide a ‘sandbox’ for novice investors to practice trading with zero risk to their capital. They can build confidence, and help beginners learn about market mechanics, portfolio management, and how to use trading platform tools (such as technical analysis).
- Trading simulators can be a valuable tool for both new and experienced investors to try new and refine existing trading strategies in a risk-free environment.
- Sims are often available outside of normal trading hours. This means investors can backtest their trading ideas and strategies at their convenience.
Cons
- Certain trading simulators rely solely on historical data, and so don’t reflect how market conditions change over time. A trading strategy that worked in the past might not be successful today, potentially leaving investors with a false belief in their approach.
- Trades are typically executed promptly and without issues. As a consequence, investors aren’t exposed to problems such as price slippage and liquidity issues that can impact returns and order fulfilment in the real world.
- Sims don’t accurately demonstrate the emotional challenges of real-world trading. This can leave investors unprepared for the psychological pressure that comes when hard cash is on the line. It can also lead to overconfidence, resulting in investors taking on excessive risk.
Bottom Line
Most brokers offer free access to trading sims, but it pays to carefully research the best one that fits your needs. Not only can this make the virtual trading experience more realistic and enjoyable. It can be an important step for new investors in finding the right broker when they’re finally ready to trade with actual cash.