5 Best Crypto Demo Accounts To Practice Trading

Here's our shortlist of the five best demo accounts for cryptocurrencies:

1. eToro – Best overall demo platform for copy-trading
2. MEXC – Best demo account for futures trading
3. Phemex Testnet – Solid demo account with leverage
4. TradingView – Top demo account for chart analysis
5. Swyftx – Demo platform for crypto in Australia

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Why We Picked These Crypto Demo Accounts

The sections below provide an overview of the crypto trading exchanges that offer the best demo accounts. 

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1. eToro – Crypto Demo Site With Copy-Trading

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro is first on our list of demo platforms when it comes to crypto trading. It is a world-class brokerage and social network platform offering an easy-to-use demo account that is free to join. The demo product supports the major cryptocurrencies with a $100,000 virtual account, that should be more than enough to begin learning. More advanced users can explore other standout features such as the innovative social network and crypto copy-trading platform. In addition, the demo account has traditional assets, not just cryptos.

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One of the main reasons why eToro is one of the top demo sites is its social community. You can switch to a practice account and connect with experienced crypto traders worldwide to discuss strategies. You can follow each trader in real time and simulate their trades without risk. The platform provides essential trading tools, charting analysis, and a user-friendly interface.

As we discovered in our eToro review, the platform fantastic for convenience due to its user-friendly web platform and the eToro mobile app, which is excellent for casual and beginner investors. Once you progress past the demo account, there are some downsides, such as slightly higher trading fees at 1%.

Create an account with eToro and start trading crypto.

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

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2. MEXC – Best Demo Account for Futures Trading

MEXC is next on our list, specifically for those who want to demo trade the crypto futures markets (i.e. with leverage). There are a total of 2,289 crypto assets and over 2,729 trading pairs available for browsing and trading on MEXC. It's worth noting that MEXC's demo account is specifically designed for futures trading markets. If you're interested in a demo mode that allows you to explore and practice other markets, like spot and margin, you will need to look elsewhere such as eToro as mentioned above.

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The MEXC demo account is located in the Futures drop-down menu. Click on "Receive Demo Coins" to receive virtual funds. It features TradingView charting (which we will discuss shortly) and supports analysis of 10 perpetual trading pairs, including all major pairs, such as BTC/USDT and ETH/USDT. More importantly, MEXC is well-known for supporting new coins. 

In addition, the MEXC app is responsive, allowing fluid demo trading and monitoring of positions on mobile and table devices. The MEXC crypto demo account is a great learning tool for futures trading.

Read our full MEXC review.

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3. Phemex Testnet – Solid Demo Account for Leverage and Contracts Trading

Phemex is a popular centralized exchange with an established and robust suite of features and trading markets including spot, leverage margin (up to 100x), and perpetual trading with 337 supported digital currencies.

Phemex is a good place to start practicing leveraged margin trading without risking your capital on its Testnet platform (https://testnet.phemex.com/), which is separate from the main Phemex Exchange. Although you must create an account, you can use the same login details for your main Phemex account. However, this exchange is not supported in several countries, such as North America. Moreover, its one of the few remaining exchanges that don’t require KYC to get started.

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The Phemex Testnet supports spot and contract trading, unlike MEXC which is limited to demo trading futures. You start with 10,000 USDT as virtual funds to get started which is more than adequate. The actual trading platform is modern and features TradingView charting tools with up to 100x leverage for contract positions. Overall, the Phemex Testnet account is one of the better demo versions for experimenting with margin and contract trading. Beyond its demo account, traders can immerse themselves in many other features including copy-trading, earning interest, and exploring their Web3 capabilities.

Read our full Phemex review.

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4. TradingView – Best Demo Account for Chart Analysis

TradingView is next on our list and is quite a different platform. It's not a crypto exchange or trading platform per se. What it does offer is one of the best price charting, coin analysis, and trading tools for beginners and experienced traders alike. 

To begin using TradingView, you can sign up for a free demo account and choose a subscription. Then, you can enable the 'paper trading' mode in the TradingView panel. This feature allows you to analyze the price movements of digital currencies and practice making trades without using real money. A screenshot of the demo account order execution tools is shown in the screenshot below.

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While it may not resemble your typical crypto demo site, TradingView is often integrated with these exchanges. This means once you're familiar with the TradingView platform, you can access it and demo trade on many platforms like the ones we’ve mentioned already. One of the biggest pros of practicing trading on their demo account is accessing the TradingView community and back-tasting strategies.

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5. Swyftx – Best Demo Account In Australia

Swyftx is considered one of the best exchanges in Australia for buying and selling crypto. It features a user-friendly platform and mobile app with a demo mode. While Swyftx is currently only available to Australians who want to demo trade, we expect the company to expand to multiple jurisdictions soon.

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Swyftx's demo account offers a comprehensive suite of features to provide users with a realistic trading experience without financial risk. One of the standout features is providing a $10,000 account in fake AUD currency, allowing users to practice trading strategies. The demo account includes price alerts and access to live market prices, ensuring users stay updated with the latest market movements. Available on both desktop and mobile platforms, the demo account is accessible and convenient for users on the go.

Swyftx integrates TradingView charting with hundreds of indicators and drawing tools for detailed technical analysis. The platform offers access to over 320 cryptocurrencies that can be traded in the demo mode with a portfolio tracker, simulating market conditions for traders to hone their skills. 

Read our full Swyftx review

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BONUS: HollaEx – Best Exchange Demo for Starting an Exchange Business

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HollaEx® is a software provider that allows businesses to start their own custom made online cryptocurrency exchange business. It allows for the creation of a demo exchange environment (testnet) for developers to test the exchange before launching a production version.

HollaEx® also provides an interactive exchange demo that shows exactly the steps required to setup an exchange from setup to launch. This interactive demonstration gives businesses a unique insight into the operations and behind the scenes look of what it takes to run a global exchange business online.

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Why Crypto Traders Should Begin With A Demo Account

Consider starting with a crypto demo account. It provides a risk-free environment for learning without investing real money, allowing beginners to get comfortable with the platform and market dynamics. Traders can also test different strategies, gain confidence, and explore new cryptocurrency exchanges before investing in real funds.

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So Your Ready To Start, Here’s What To Look For

When choosing a crypto demo account, it's crucial to understand the features offered. Look for a demo mode that tests various trading features on different crypto assets. Also, ensure it uses real-time market data and tracks conditions affecting cryptocurrency prices.

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We aim to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. We do not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.

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