How to start investing online: the best simulators and demo accounts you need to know

Did you know that most experienced traders start their careers with a tool that many beginners ignore? We’re talking about stock simulators and demo accounts, those virtual spaces where you can practice without risking a single euro. This article will show you everything you need to know about these platforms and introduce you to the five most powerful options on the market, all completely free.

Stock Simulator vs Demo Account: Are They Really the Same?

Here’s the first confusing point: people often mix these two concepts as if they were identical, but they are not entirely the same. Both serve the same general purpose—simulating real trades—but they come from different sources with slightly different objectives.

Stock simulators are tools created by educational platforms, not financial ones. Their sole purpose is for you to understand how the market moves without losing money in the process. Classic examples include La Bolsa Virtual, Wall Street Survivor, or the famous Investopedia Stock Simulator. They are educational by nature.

Demo accounts, on the other hand, come directly from brokers. These virtual spaces reflect exactly what you would see if trading with real money: same interface, same tools, the entire ecosystem. They not only offer the possibility to buy and sell but also risk management, social trading, algorithmic operations, and much more. The crucial difference is: the simulator teaches you, the demo account prepares you.

What Are These Tools Really For?

The answer is twofold: education and training. Although they sound similar, they are not the same.

Education is the fundamental pillar. Here you learn from scratch: how markets work, what indices are, how cryptocurrencies behave, the difference between a CFD and a stock. It’s a safe space to absorb concepts without economic consequences.

Training is what you do afterward. You already know the theory, but you want to test that strategy you read in a book. Or you want to learn to trade with new assets before using your real money. The best brokers understand this and allow you to switch between demo and real accounts instantly, without friction.

What Assets Can You Practice on These Platforms?

It depends on what you use. Basic simulators generally allow you to:

• Domestic and international stocks
• Stock indices
• Forex pairs (Forex)

Broker demo accounts exponentially expand the menu:

• Cryptocurrencies
• CFDs on thousands of underlying assets
• ETFs
• Commodities
• Fixed income (on some premium platforms)

More assets = more learning opportunities. It’s as simple as that.

The Top Five Spaces to Invest Online Risk-Free

After analyzing dozens of options, we focused on specific criteria: ease of use, execution speed, order flexibility, unlimited use, and a broad asset catalog. These five stood out:

1. MiTrade: The broker that lets you practice without limits

This Australian broker has gained fame in Asia by offering what many do not: a completely unlimited demo account. There are no 30-day restrictions, no pressure to switch to real money. Simply… practice.

The demo account gives you access to thousands of CFDs. That means you can short sell, use leverage, experiment with risky strategies. All virtual, all without consequences. Plus, it works on desktop, iOS, and Android, so you can practice from anywhere.

The most valuable thing: you can switch between demo and real instantly. This allows you to quickly test something in simulation before going live with real capital.

2. Virtual Stock Exchange (MarketWatch): The platform for serious analysts

MarketWatch is where professionals share analysis and strategies. Its integrated simulator, Virtual Stock Exchange, leverages exactly that: collective intelligence.

Build your own portfolio with access to quality analytical tools: technical analysis, watchlists, real-time data. Registration is free and takes two minutes. Then you simply start investing virtually.

3. IG: When you want to practice with professional tools

IG is one of the oldest and most respected brokers worldwide. They are publicly traded, so imagine the level of regulation and professionalism.

Their demo account works with MetaTrader, the industry-standard platform. You access thousands of CFDs and comprehensive educational resources. If you’re looking for something close to what institutional traders use, here it is.

4. HowTheMarketWorks.com: The true educational simulator

This is probably the most education-focused simulator on the entire list. It has been in the market for years and trains nearly half a million students annually.

They give you $100,000 virtual to experiment. The platform is optimized for teachers and students to learn together. It has a premium plan if you want more advanced tools, but the free version is already solid.

5. eToro: The social trading network

eToro revolutionized trading by making it more social, more accessible, less intimidating. Its demo account reflects exactly this: a clean interface, no overwhelming charts, very intuitive.

The best thing about eToro is social trading. With the demo account, you access dashboards where you see what other traders are doing, can automatically copy their operations, and learn by observing. Perfect if you’re a beginner and charts scare you.

The Real Problems You Will Encounter

Not everything is rosy. Demo accounts have legitimate limitations you should know:

Reduced speed and accuracy. Simulators do not execute trades as fast as real brokers. Understandable—these are educational tools, not trading platforms—but it can confuse you when you switch to real money.

Limited expiration. Some brokers only give you 30 days, or even less. This creates psychological pressure: “I better switch to real account now.” Bad if you’re not ready. That’s why MiTrade scores points here.

False euphoria. This is pure psychology. With $50,000 virtual that doesn’t hurt, you trade irrationally. When reality hits—you have $500 real money(—behavior changes drastically. The demo account does not replicate the emotional pressure of real money.

The capital availability effect. Demo trader with $100,000, real trader with $1,000. Different strategies, different risks, different results. It’s not the same to diversify with abundant capital as to be selective out of necessity.

How to Properly Use a Demo Account )step-by-step guide(

We will use MiTrade as an example, but the process is similar everywhere.

Step 1: Access the broker’s website

Go to mitrade.com. On the main screen, you will see the “Open demo account” button. Click it.

Step 2: Choose your entry mode

They ask for your country of residence. Then you have two options: browse as a guest )immediate access without registration( or register )more features later(. To start quickly, guest mode is enough.

Step 3: Verify that the demo is active

Check the top right corner of your panel. It will say “Demo” if you are in practice mode. You will also see your virtual balance )usually $50,000 initial.

Step 4: Start trading

Now it’s up to you. Find assets that interest you, practice orders, experiment. The platform works on web and mobile.

Tips to Maximize Your Demo Account

Experiment fearlessly, but purposefully. This is your testing ground. Try those investment ideas you never dared. But remember: it’s not a casino. It’s school.

Be as disciplined as with real money. If you don’t follow your trade plan, if you don’t close positions, if you don’t document your mistakes, you won’t learn anything valuable. Practice as if it were real money because it will be later.

Combine demo with real education. Practice without theory is blind. While trading in simulation, read, watch videos, take courses. Both together are explosive.

Don’t think it’s only for beginners. Large investment funds and professional managers use simulators constantly before real trades. If it’s good for them, it’s good for you.

Conclusion: Your Next Step

Demo accounts and simulators are tools that offer only advantages, almost no disadvantages. They are free, with abundant options, and you can choose according to your specific needs.

Brokers like MiTrade let you switch between demo and real seamlessly, so you are never forced. Practice what you need, when you need it.

Whether you are completely new or an experienced trader testing new strategies, a demo account is an investment in your education. And that is the best investment there is.

The market will be waiting. But first, practice.