Best Bitcoin Brokers With Demo Mode Trading

Below you will find detailed information on how to access the demo trading area at each of the brokers mentioned above.

Primebit

Try up to 200x risk-free

Primebit is a Bitcoin broker that trades highly leveraged derivatives, in this case so-called perpetual contracts. This is a trading product that is similar to Futures, but perpetual contracts do not have an expiration date that is otherwise common for classic Futures. The use of the platform is prohibited in countries where the trading of crypto derivatives is prohibited for private investors. Such regions include the USA, Québec (Canada), the UK, China, North Korea, Singapore, Cuba, Ecuador, Algeria, Crimea and Sevastopol, Iran, Syria, Sudan, Ethiopia.

How to start PrimeBit Demo Trading

To try demo trading at Primebit, you need to create an account. The "Explore Platform" link leads to the registration. This only requires entering an email address, there is no complicated registration process. It is also not necessary to verify the account. Signup via Google or Facebook accounts is also supported.

The demo trading can now be found via the main menu at the top corner of the webiste, next to the logo, in the "Accounts dashboard" area. There you can switch from "Live" to "Demo". In the demo account 1 BTC play money is waiting.

Thinkmarkets

Try up to 50x risk-free with a regulated Broker

Thinkmarkets is a regulated trading platform where CFDs with high leverage can be traded. Bitcoin and Ethereum can be traded with 1:50 leverage, while other trading products can be leveraged up to 1:500 (Forex). Also, Thinkmarkets cannot serve clients from countries where trading CFDs is prohibited for retail traders. The trading platform is subject to financial regulators in various countries and therefore must insist on full ID verifications for normal user accounts (not demo), including proof of residency.

Demo Accounts at ThinkMarkets

To test trading at Thinkmarkets risk-free with play money, you can quickly create a standalone demo account. The link "Demo Account" can be found in the footer section of the website. For demo trading it is necessary to enter a first and last name, an email address and a password. You also need to choose one of 3 possible platforms that you want to use for trading: ThinkTrader (the in-house software) or MT4 or MT5.

eToro

eToro is one of the most popular trading platforms in the world. It is also a regulated broker. Already when opening the website, the user is informed depending on the origin (IP) whether and to what extent he is allowed to use the platform due to country-specific restrictions.

How to start Demo Trading at eToro

To use demo trading with play money at eToro, it is necessary to create a customer account. To do this, it is initially only necessary to enter a username, an email address and a password, and also to agree to the terms of use by ticking the checkbox. Alternatively, eToro also supports registration via existing Google or Facebook accounts.

In the backend of the newly created eToro account, the Virtual Portfolio can be found directly in the menu under the username. The Demo Account is loaded with $100,000 play money.

SimpleFX

Try the best Bitcoin Trading App without risk - up to 100x leverage

SimpleFX is another unregulated bitcoin margin broker. Here, besides cryptos, a variety of other assets can be traded as CFDs with high leverage. SimpleFX is also an unregulated trading platform and has to exclude people from certain countries from using it.

How to start Demo Trading at SimpleFX

In order to use the demo mode at SimpleFX, it is necessary to create a free account first. To do this, you only need to provide an email address and a password. No other personal information is required.

After registration, the demo mode can be found in the top left menu in the "Accounts & Deposits" section. In the accounts you can easily switch from "Live" to "Demo" by selecting a demo account and pressing the button "use this account".

BitMEX

Try up to 100x risk-free

BitMEX is the oldest high leverage bitcoin margin trading platform in the world. The unregulated trading site allows leverage of up to 1:100. Of course, BitMEX also excludes citizens and residents of certain countries and regions from using the platform. At BitMEX, ID verification is mandatory.

Demo Trading at BitMEX

From the very beginning, BitMEX has been running a 2nd platform in parallel, which exists only for testing purposes. In the so-called BitMEX Testnet, users can test and practice trading with leverage in the BitMEX trading system without burning their fingers in real. Registration on the platform is free of charge and requires only an email address and password.

Cex.io

Practice on Cex.io Broker with up to 100x leverage

Cex.io is an experienced Bitcoin trading exchange that has recently expanded its offering with a margin trading section. Cex.io's new CFD broker platform also offers industry standard leverage of 1:100. Cex.io's broker platform can only be accessed via an existing account. So you have to be logged in, then you can click "margin trading" and you will enter the BETA version of CEX.io Broker.

Demo Trading at Cex.io Broker

When the broker platform opens (Cex.io Broker BETA), you can immediately start trading in demo mode and playfully place orders. If you want to switch to real trading, you first have to make some settings via the "start live trading" button and of course make a deposit.

FXOpen

Try trading with a well-established regulated Broker

FXopen is a regulated CFD broker that can offer leverage of 1:3 for cryptocurrencies. Deposits with regulated brokers are subject to legally regulated deposit insurance, in the case of FXOpen it is up to £85,000.

How to start Demo Trading at FXOpen

To trade at FXOpen in demo mode, you need to register for a demo account. You have to choose the type of account, for example, if you want to trade cryptos you should choose the account type "Demo Crypto". The leverage is displayed automatically and is not customizable. The same applies to the currency. You can then select an amount of money that you want to find in the account as play money. An email address, password and phone number must also be entered. The telephone number determines whether the new customer is authorized to register. The USA would be excluded again. With these details, the demo account would then already be created and you can start practicing.

HitBTC

Try Futures up to 100x risk-free

HitBTC is a crypto exchange that has been around since 2013, making it one of the oldest. The platform offers spot market trading, margin trading as well as futures with up to 100x leverage. Again, many countries are excluded from using it due to the aforementioned local legislations regarding CFDs and trading with leverage. In order to fully use Hitbtc, users must go through the ID verification process. But not for the use of a demo account.

Demo Accounts at HitBTC

Demo accounts at HitBTC can be used via a parallel demo trading platform. demo.hitbtc.com requires a separate registration. With an already existing account on the main platform you can not get in here. However, the separate registration on the demo trading platform of HitBTC does not require more than entering an email address and setting a password.

Trading in Demo Mode Without Real Money

Some Bitcoin trading sites offer trading in Demo Mode for newbies – or a Demo Account, which is pretty much the same. Trading with play money helps you to understand the functionality of the platform and simply get used to using it.

If you feel secure because you are familiar with placing orders and the way the system reacts and executes those orders, then you are ready to trade with your real Bitcoin.

Why It Is Important To Practice Bitcoin Trading

It's important to practice trading at the beginning, as successful trading is a skill which comes with time and experience. You can compare it to driving a car. At the beginning you have to learn some theory and then practice it by driving frequently a little bit, to get used to the system.

You cannot just jump into a sport car and start driving fast to anywhere, when you've never been driving before. The likelihood to cause an accident would be enourmously high. With trading it's the same – you cannot just start and achieve profits all the time.

Likely the opposite will happen – you lose all your funds very quickly. So make sure you learn the basics and take advantage of demo accounts or demo mode trading.

Demo Accounts Are Also Helpful For Veterans

If you are already experienced, it might still be helpful to first use the demo mode of a new platform. Just to make sure the order types function exactly as you expect.

Sometimes it might happen that the functionalty of different platforms' order types is a little bit different and you might do a mistake by expecting a certain execution which then happens differently.

You can also generally practice trading in the stock market simulator on investopia.com, to get the principles of trading.

However, if you intend to trade Bitcoin on margin it's best to directly learn trading on BitMEX on their testnet platform. You find a direct link to their testnet subdomain in the text on this page.