I have been trading forex on a demo account at eToro. I am really happy with their demo account but I would like to try out different brokers before trading on a live account.
Which brokers also offer good demo accounts?
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I can suggest to try Hotforex, their advantage is multiple account types like raw spread, premium, fixed spread etc. You will be able to compare various transaction costs and maybe find better trading strategy
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When it comes to demo you can try literally all existing brokers. If you want any personal recommendations then you can check EagleFX. Im using them for more than 2 years already and theres no issues at all. I`ve already tested then with demo first.
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Junk eToro, their spreads are the world’s worst. In lowest cost order are TD365 with fixed spreads, CMC markets, IG, XTB & ICMarkets.
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Whichever demo you decide to go for make sure you get unlimited use. There are some brokers out there who will call you and put pressure on you to fund a live account before you are ready and I find that pretty unethical as statistically, you will just lose it very quickly.
I’ve used demos with IC Markets, CedarFX, IG, all of which I also have live accounts with following that. Crucially those live accounts were opened when I was ready to open them.
I’ve used them for about a year, no problems up to now.
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You’re definitely on the right path with using demo. I have tried a few like Hugosway, LonghornFX and IC Markets. I liked LonghornFX the best because I had unlimited demo accounts. When beginning they had 10US min deposit which is great to test the waters with live funds as it’s important to know the feeling of having money at stake and this low amount is great to do it with
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You are trading on demo account, which is the best thing to do before jumping into live trading. Even if you are a full time trader, you may still need demo accounts to trade your new strategies. Almost all the brokers provide demo accounts. However, some brokers do not let you use the same demo account more than a month or two. They do expire. Thus, get demo accounts from brokers that let you allow trade as long as you want. You may try CedarFX, Onada, Hugosway, etc.
To be honest when you demo I don’t think it really matters.
For a live account yes, but demo no.
I prefer a regulated broker for trading. Because it is safe.
And what exactly make them safe?
Glad to hear it. 
Best to check multiple brokers if you are doubtful. You can check live spreads on myfxbook and shortlist some. Don’t forget to tick “include commissions” box, that’s how you’ll get to know the actual cost. I got fxview likewise.
Exactly how does broker matters if you are demo trading only?
I don’t think it does…as I put above.
This is unfortunately not true. Regulated brokers offer much worse trading conditions and the “safety” you have is a myth.
Unregulated broker has strong incentive to scam you if you somehow managed to win big money and try to make withdrawal. I personally had cases when broker refuse to withdraw citing some dumb reason like multiple accounts, etc.
I saw a lot of ads for this broker. Is this good?
Do not believe the advertisements, see how many years this broker has been on the market.
when I was looking for a broker for myself, I first of all checked the work on a demo, and ended up on the platform from amarkets, cool functionality that will allow you to try a lot