I’ve been noticing for a while how many people who want to get into the stock market dive in without any safety net. The truth is, there’s an option that almost nobody fully takes advantage of: practice accounts and simulators. They’re not the same thing, so let me explain the difference.

Stock simulators are basically educational tools that let you invest with fake money. They’re designed mainly for learning, with no real other purpose than to let you feel what it’s like to open and close positions. Demo accounts, on the other hand, come from real brokers and replicate exactly what would happen if you traded with your own capital. The difference matters: a simulator is like an educational video game, while a stock demo is the broker’s training ground.

Now, what are they really for? Basically, two things: education and training. The first is the most valuable, because you gain experience without risk. The second is when you already know the basics but want to test new strategies or assets you’re not familiar with. The best brokers let you switch from a demo to a real account at any time, which is quite useful.

When it comes to what you can practice, classic simulators offer stocks, indices, and forex. But brokers’ demo accounts go further: cryptocurrencies, CFDs, ETFs, commodities. It depends on the broker, of course.

I’ve reviewed quite a few options, and these five seem to be the best on the market right now:

**MiTrade** is an Australian broker that has gained a reputation in Asia for taking great care of client education. Its stock demo is unlimited and comes with $50,000 in virtual funds. Everything runs on CFDs, so you can practice short positions and leverage. The best part is that it works on the web and on mobile, and you can switch between demo and real whenever you want.

**MarketWatch** has its own simulator called *Virtual Stock Exchange*. It’s fairly well known because the platform is specialized in finance, and many professional investors share analysis there. It’s free—you just need to register.

**IG** is one of the oldest and most respected brokers in the world. Its demo account lets you trade CFDs on thousands of assets. It uses MetaTrader as its platform and offers a lot of educational resources.

**HowTheMarketWorks** is probably the most education-focused simulator out there. It trains about half a million students per year and gives you $100,000 in virtual funds to practice with. It’s optimized so that teachers and students can learn together.

**eToro** is the leader in social trading, and its demo is very popular. It doesn’t have complicated tools, but the variety of products is broad. What’s interesting is that with the demo you also get access to social trading panels, so you can see how others trade in real time.

Now, these tools do have limitations. Simulators are sometimes slow to execute, which is understandable since they’re educational. Some brokers limit the demo to 30 days, which forces people to trade with real money before they’re ready. And there’s a real psychological issue: when the money is virtual, we invest carelessly. That’s what they call fragile euphoria. Also, demos give you tens of thousands of virtual euros, but in real life you’ll probably have much less. That changes your way of trading completely.

If you’re going to use a stock demo, take it seriously. Even if it’s fictional, treat every trade like it’s real. Experiment with new ideas, but not like it’s a casino. Combine practice with real education. And remember: demo accounts aren’t only for beginners. Major investment funds use simulators constantly before risking real money.

The conclusion is simple: if you have access to a free stock demo, use it. You lose nothing and gain experience. With the options available right now, you can choose the one that best fits your needs. Practice, learn, and when you’re confident, switch to real trading.