HERE IS A LIST OF FOREX BROKERS THAT OFFER ZERO SPREAD DEMO ACCOUNTS
Zero Spread Demo Accounts
In forex trading, zero spreads accounts are some of the most popular accounts among traders. They allow investors to trade assets with spreads that start from 0.0 pips, greatly lowering the trading cost. Mostly, brokers charge a commission on zero spread accounts to make up for the trading costs. This offers a level of predictability to investors concerning trading costs. Brokers that offer zero spread demo accounts allow traders to test out these accounts on a virtual environment to examine how well the accounts fit them. Today, we are going to look at some of the best zero spread demo accounts available to traders.
Brokers With Zero Spread Demo Accounts
HFM
HFM is one of the brokers that offers a zero spread account and the ability to try out its services on a demo account. On the zero account, spreads start from as low as 0.0 pips for major currencies plus a commission as low as $3 per side per lot. Notably, this account does not have a minimum deposit and offers access to a deep collection of market products.
In particular, this broker offers its traders access to a variety of instruments including CFDs on forex, metals, energies, indices, stocks, commodities, bonds, ETFs, and cryptocurrencies. This allows investors to diversify their portfolios as they like. To accommodate different preferences, the broker provides multiple platform options. These include the industry-standard MetaTrader 4 and 5, as well as its proprietary HFM Platform.
On regulations, this broker has regulatory licenses from several financial authorities. These include the FSCA in South Africa, the FSC in Belize, the FCA in the UK, the CySEC in Cyprus, and the DFSA in the Dubai International Financial Centre (DIFC).
Exness
Exness offers its traders a wide variety of accounts including two standard accounts and three professional accounts. Among the professional accounts, Exness offers two zero spread accounts which include the zero account and the raw spread account. The zero account has zero spreads on the top 30 instruments. This account charges a commission from $0.05 per side per lot and upwards. On the other hand, the raw spread account features spreads from 0.0 pips plus a commission of $3.5 per side per lot.
Notably, Exness offers traders the chance to try out their accounts, including the zero account and the raw spread account. As such, Exness is one of the best zero spread demo accounts for South African and international traders. Additionally, Exness offers its traders a wide variety of market products totalling over 200 different assets. These include forex, metals, cryptocurrencies, energies, stocks, and indices. The trading platforms available for traders to use include MetaTrader 4, MetaTrader 5, and Exness Terminal.
Finally, let's examine the regulatory status of Exness. Fortunately, this broker holds licenses from the FSCA in South Africa and the CMA in Kenya. Additionally, Exness is also overseen by two tier-one regulatory bodies such as the FCA in the UK and the CySEC in Cyprus, among other regulators.
Pepperstone
Next up is Pepperstone. This broker allows its traders to create a demo account for any of its two accounts. Pepperstone offers its traders the razor account which offers traders spreads from as low as 0.0 pips with commissions depending on the trading platform a trader chooses. When using MetaTrader 4 and MetaTrader 5, TradingView, and Pepperstone’s Trading Platform, traders incur a commission of $3.5 per side per lot. In contrast, cTrader razor accounts have a commission of $3 per side per lot.
Pepperstone offers traders a vast array of over 1,200 CFDs across forex, indices, commodities, shares, ETFs, and cryptocurrencies. This extensive diversity is highly appreciated by all types of traders.
On regulations, Pepperstone operates under the supervision of a variety of organizations. These include the CMA in Kenya, the ASIC in Australia, the CySEC in Cyprus, and the FCA in the UK, among others. While not regulated in South Africa, the broker has already made an application and awaits its approval by the FSCA.
FP Markets
FP Markets is another broker that offers a zero spread demo account to its traders. The raw account on this broker site offers extremely tight spreads starting from 0.0 pips. Additionally, it charges a modest commission of $3 per side per lot. This account gives South African traders access to an extensive range of over 10,000 market products. These include CFDs on forex, stocks, indices, commodities, bonds, and ETFs. The broker complements this diverse instrument selection with a choice of five trading platforms: cTrader, MetaTrader 4, MetaTrader 5, TradingView, and Iress.
Finally, South African traders will be pleased to know they are trading with a broker regulated in multiple jurisdictions. Firstly, the broker is regulated by the FSCA in South Africa. It is also regulated by two reputable organizations: CySEC in Cyprus and ASIC in Australia.
Admirals Markets
Trading Forex and CFDs entail risk.
Your capital is at risk.
Admiral Markets also offers its traders a zero spread account and the ability to trade on a demo account. This broker allows its clients to create and use a demo account to test out its services on a demo account. Notably, it offers two different trading accounts with spreads starting from 0.0 pips, along with commission fees. These include the Zero.MT4 and Zero.MT5 accounts. The commissions for trading forex and metals on these accounts range from $1.8 to $3 per lot.
Both account types provide access to CFDs on forex, metals, cash indices, and energies. Although the markets are the same for both accounts, the Zero.MT5 account offers a larger selection of currency pairs compared to the Zero.MT4 account.
On another note, Admiral Markets has regulations by two financial regulators in Africa. These include the FSCA in South Africa and the CMA in Kenya. Additionally, the broker has regulations by the FCA and the CySEC. This makes the broker an attractive option for traders in South Africa.
FxPro
Trading Forex and CFDs entail risk.
Your capital is at risk.
FxPro offers two main accounts with zero spreads: the Raw+ and Elite accounts. Both accounts feature zero spreads for 90% of the trading day, with a commission of $3.5 per side per lot. For South African traders, this company allows its clients to use demo accounts to test out the different accounts. Notably, this broker has regulations from South Africa’s FSCA among other organizations. Some of the other regulators the broker holds a license from include the FCA and the CySEC.
The raw+ and elite accounts differ primarily in the minimum deposit required and trader perks. The Raw+ account requires a minimum deposit of $500, whereas the Elite account requires a minimum deposit of $30,000. Notably, the Elite account offers traders the opportunity to earn up to 21% of their commissions back in rebates. The available trading platforms include MetaTrader 4, MetaTrader 5, cTrader, and the FxPro Trading Platform, providing FxPro clients with a wide array of choices for their trading needs.
Vantage Markets
Trading Forex and CFDs entail risk.
Your capital is at risk.
Vantage Markets is an FSCA-regulated broker that offers two different accounts with spreads from as low as 0.0 pips. South African traders can use the Pro ECN account and the Raw ECN accounts to trade with zero spreads. The Pro ECN account charges a commission of $1.5 while the Raw ECN account charges a commission of $3. Further, this broker allows its traders to use demo accounts to trade different market products in a virtual environment.
On market products, this broker provides access to a wide array of over 1,000 financial instruments. These include CFDs on forex, precious metals, indices, commodities, energies, ETFs, bonds, and shares. These instruments can be traded through four platforms: MetaTrader 4, MetaTrader 5, ProTrader, and WebTrader.
Other than the FSCA regulation, this broker is also under the supervision of other financial institutions. These include the CySEC and the ASIC, two of the most notable financial regulators in the market.
IC Markets
The final broker we will cover in this piece is IC Markets. This is yet another reputable broker that offers South African traders zero spread demo accounts. On the IC Markets broker site, there are two main accounts that offer zero spreads that depend on the platform that a trader uses. The raw spread account on the cTrader platform has lower commissions than the raw spread account on the MetaTrader platforms. On cTrader, investors pay a commission of $3 per side per lot while traders on the MetaTrader platforms pay a commission of $3.5 per side per lot.
On another note, the broker is under the regulation of two of the best regulators in the market. These include the CySEC in Cyprus and ASIC in Australia. This is on top of having regulations by the local regulator in South Africa, the FSCA.
Traders who want to diversify their trading portfolio can do so on ICMarkets. This is because the broker offers a variety of trading instruments across a number of global markets. These include CFDs on forex, cryptocurrencies, stocks, indices, commodities, and futures.
Zero spread demo accounts offer a valuable opportunity for traders to explore the benefits of trading with minimal costs. With the brokers on this list, South African traders can experience this in a simulated environment without risking real cash.
Note that we featured some of the most notable brokers in the market offering zero spread demo accounts to South African traders. These brokers feature a deep collection of market products and have ample regulatory oversight. Nonetheless, this might not be an exhaustive list. Ultimately, each trader must make their own choice based on their goals and preferences.