What is The Best Forex Simulator Software?

  • Forex trading simulators are very useful for beginner traders
  • Most of the Forex simulators are totally free of charge
  • There are numerous simulation programs offered to traders
  • By using simulators you can practice and improve your trading skills

What is a Forex Trading Simulator?

Forex trading simulator explained: Forex trading simulators can be used to practice Forex trading without risking your funds

Forex trading is a very attractive market for many people around the world. When taking the first steps in Forex, traders should make sure that they understand everything about the market. Because there are so many things that need to be considered, trading Forex for beginners might get a little overwhelming.

To be able to trade Forex successfully, you will need to develop a lot of skills. To help you better understand how Forex trading works and get used to the trading market, there are numerous companies that have created Forex trading simulators.

Finding the best trading simulator can help you better understand the market and grow as a trader. Forex simulator is a type of software that lets traders participate in the Forex trading market free of charge.

Using the Forex simulator will help you learn from your own mistakes and sharpen your trading skills. All of this can be done without risking any of your hard-earned money.

There are different types of Forex trading simulators available in the market. While there are some that use special algorithms to mimic the market activity, there are also others that reflect the actual live market data.

The second type of Forex simulator is known to offer a more realistic trading experience to beginners. In most cases, the simulator applications offer traders a sum of virtual cash, which can be used for trading. Depending on the simulator that you are using, you can have access to numerous trading markets. This includes Forex, stocks, indices, and many others.

In a sense, all Forex trading simulators work in the same way and any of them can be a great help for traders. However, there still are some distinct differences between Forex trading simulator online programs, whether it is the way they reflect the market, offered trading opportunities, access to markets, and so on.

What Are The Best Free Forex Simulators?

Among the Forex trading simulators that are available in the market, we are going to talk about 4 that stand out the most. The best Forex simulator software that we are going to discuss in this guide are the following:

  • MetaTrader 4
  • MetaTrader 5
  • NinjaTrader
  • Soft 4 FX

All of these four trading simulators stand out from the others because of the high-quality trading services offered to traders. So, let’s continue by discussing each of these programs one by one and see what makes them better than the others.

MetaTrader 4

MetaTrader 4 is one of the best-known Forex trading platforms around the world. There are numerous MT4 tools and indicators that this trading platform offers to traders, making it one of the most used platforms around the world.

The Forex tester trading simulator offered by MetaTrader 4 is a very useful tool for beginner traders and offers live market data to investors. By perfectly resembling the trading market, Forex traders using MetaTrader 4 have the opportunity to experience Forex trading without risking any of their funds.

MetaTrader 4 offers traders the ability to train Forex trading skills and gain experience very quickly. In addition, you can also test trading strategies and implement them using the simulator of MT4.

This is a great opportunity to see which strategies work better for you. By testing the strategy on the simulator, you can get used to the way it works, understand the drawbacks and then confidently use it in the real market.

best trading simulator

MetaTrader 4 Trading Simulator Pro is an Expert Advisor. You can use it through the MetaTrader 4’s Strategy Tester. Thanks to this tool, you can turn normal backtesting into a Forex simulation. This free Forex trading simulator software is very popular among traders because it offers them the opportunity to learn more about the Forex market.

MetaTrader 4 is, in general, a very popular Forex trading platform. It was created many years ago, back in 2005, and has forever changed the way people trade Forex. It offers traders a very user-friendly experience and its simulator software is among the best ones in the market.

MetaTrader 5

Simulator Forex trading is also offered by MetaTrader 5, which is another trading platform created by the same company that released MT4. MT5 has been available since 2010 and is a very popular platform because it offers access to numerous assets. You can trade stocks, indices, CFDs, commodities, and many other assets at MT5.

The simulator offered by MetaTrader 5 is very similar to the one offered to MT4 users. There actually are numerous tools available on this platform for beginners to better understand the market.

The Forex trading simulator of the MetaTrader 5 converts the strategy tester of the platform into a tool that can be very useful for manual trading. It uses historical data of the market, which means that it is very accurate.

You can easily use the simulator to test how well you would do in different types of market conditions, which can be very helpful for beginner traders who are having a hard time understanding how different strategies can work for them.

The trading simulator of MetaTrader 5 lets traders place market and pending orders, set stop levels, and use different types of indicators. This way, you can better understand how your skills can be used in Forex trading, and there are no real-life funds that you have to risk to do so.

forex trading simulator

MetaTrader 5 Forex trading simulator free download is available on the website of MQL. After downloading the simulator, it can be installed and added to the platform in just a few clicks. The simulator of the MT5 can be used totally free of charge.


The Forex trading simulator of NinjaTrade is completely free of charge and can be used by traders for advanced charting, backtesting, and simulation. The trading simulator of the platform is very easy to use and represents an integral part of the education process in the Forex trading market.

NinjaTrader’s simulator software offers traders to see how their ideas can be executed in the market. You can use the simulator to test strategies using the historical data and analyze your performance for the best outcome in the future. The simulator is very high-level as it offers traders the actual trading feeling and perfectly resembles the live trading market.

Forex simulator free version of NinjaTrader can be downloaded and added to the trading platform in a few easy steps. It is a very popular solution for traders around the world who want to get started in the market.

NinjaTrader itself is a very popular Forex trading platform around the world and was created back in 2003. It is used by a lot of Forex traders around the world and by taking advantage of the NinjaTrader simulator you can learn everything about the platform very easily.

You can also use different types of indicators that are available on the platform while using the simulator. This can help you understand which indicators are better for you and your trading strategy.

Soft 4 FX

Soft 4 FX is one of the best-known Forex trading simulators. This high-quality software is available on MetaTrader trading platforms and offers traders different types of indicators, simulators, and other very useful tools for MetaTrader 4 as well as for MetaTrader 5. This software is very useful for traders who want to better understand the trading market and take Forex trading to a new level.

While training for becoming a Forex trader can take a lot of time, the free Forex simulators offered by Soft 4 FX make everything much easier. It allows traders to train faster, without any risks. You can set different types of market conditions as well as price movements and trade in different types of volatility.

This way, you can experience how drastic changes in the Forex trading market can influence you and your positions. Soft 4 FX trading simulator offers traders the ability to control the time for Forex trading and focus on the most important moments in the market.

Thanks to the ability to trade historical data, you can save a lot of time. It offers traders the ability to move back in time and replay any movements in the market. You can use different types of charts, indicators, economic news, and a lot of other tools to better understand how the market is moving and why. Added to the MetaTrader, it works as Expert Advisor.

You can download free Forex simulators offered by Soft 4 FX and install them to your MetaTrader 4 in just a few clicks.

Difference Between FX Trading Simulator And Demo Account

Understanding Forex simulators: Using simulators in Forex offer traders more opportunities than demo accounts

There are numerous ways you can start learning more about Forex trading. Much like Forex trading simulators, a demo account also offers traders the ability to trade Forex without any risks.

A huge majority of Forex brokers around the world offer traders access to the demo trading account. After opening the demo account, you can log in on the trading platform and use the virtual cash to trade Forex.

While it can’t be used to make profits, it is a great way to learn more about Forex trading. There are many similarities between demo accounts in Forex and simulators. However, there are some distinct differences between them as well.

The main difference between Forex trading with a demo account and using a trading simulator is that simulators offer traders a lot more capabilities. For example, you can use simulators to trade historical data of the market.

This can be very useful as you can actually test your trading strategy according to the real Forex trading data and see how your decision would have played out in different types of situations.

That said, no matter which option you choose, both demo trading and using simulators can be very useful for traders.

What Did We Learn From This FX Simulator Software Article?

One of the best ways to start trading Forex is using Forex trading simulator free programs.

There are many simulators available in the market offering traders different types of options and conditions.

In most cases, simulators can be divided into two major types: ones that use special algorithms to mimic the market activity, and the second one that reflects the actual live market.

You can use simulators on Forex trading platforms such as MetaTrader 4, MetaTrader 5, NinjaTrader, and many others.

There are many other ways you can practice Forex trading, for example using a demo trading account.

Common Questions on Simulator Forex Trading

What Is The Best Forex Simulator?

There is no 1 specific best Forex simulator, but there are many of them. Among the best Forex trading simulator software in the market is the NinjaTrader simulator. It offers traders different types of services, including indicators and special tools. Trading Platforms such as MetaTrader 4 and MetaTrader 5 also offer you trading simulators that can help you become a better Forex trader. Another very popular software for Forex simulation is Soft 4 FX.

Where Can I Practice Forex Trading?

There are numerous ways and places you can practice Forex trading. For example, if you are a beginner in the Forex trading market you can use the Forex trading simulator 2021. There are many of them available in the market.

You can also use Forex demo trading accounts which are offered by a majority of Forex traders to test out your Forex trading skills.

Do Forex Simulators Work Like Real Platforms?

There are two types of simulators in the market: ones that resemble the actual live Forex trading market, and others that use different types of algorithms to provide market data. No matter which one you choose to use, both of them offer you a very real-life-like performance.

In addition, there are many simulators that offer traders actual historical data of the Forex trading market which you can use to see how your strategy would work in different types of situations.