Demo accounts

[bigdolly]

Hey guys,

Talking about demo accounts which essential features would you point out that a uninitiated trader should pay attention for?

 

[carnelian]

Demo accounts are for your training that you can do as many as you can. No fear of loss of your own money . You can do practice with a large amount loose loose and loose again then know the art to make profit.

 

[dianajs]

Demo accounts are pretty great for training and testing purposes. If you have a new idea that needs testing or you simply want to train yourself in a non-stressful environment you can use a demo account.

 

[nahiyar]

Demo accounts are for traders facility to learn all about trading. You can test or check any new system here confidently . Find its pros and cons on demo then your mistakes will be less in real trading. Demo are virtual accounts do not think all your trading will be as it is on real too.

 

[EURUSD]

Yes demo account still used many trader, even as experienced trader, especially trader that prefer use ea or robot, they need backtest robot on demo account, although sometime different server quality, but with backtest in demo it will making trader more confidence if ea work good performance

 

[Froso@FXNET]

Everyone can work with demo accounts. For beginners it is best to learn trading on demo and for those who are already working with live accounts can test many other strategies and planning on demo before apply it direct on live accounts.

 

[Phil34]

Demo is set up to mirror Live account. The only differece is emotions, because you are not trading real money, you tend to not take things seriously as there is nothing to lose. In real accout, depending on which broker type you are with, you might get requotes and slippage translating into losses.

Slippage is the difference between the price a trade is closed at and the price you placed the stop loss at. Slippage is a negative effect and on demo accounts all transactions are instantly executed as they are not actually being placed in real environment.

Also demo accounts do not take market time into consideration. If you place a trade on a demo account it will be opened instantly with no negative difference from the price you clicked on. However in live accounts, one can get requote. This is the difference between the price you want to open the trade at and the price that is now on offer to you.

It is always advisable to stay on a demo account until one understands what he/she is doing, and until they are making a constant profit, at least over the longer term time frame. To many people don't demo for long enough and then ask why there real account does not mirror the performance of their demo account.

 

[FarhanFx]

Demo accounts helps us to understand the basics of Forex trading and we must spent three to four months in demo account to grasp the control over real account and we will be able to get fruitful result from real account.

 

[FarhanFx]

Demo account is the key to success in this business and there is also advantages and disadvantages of demo accounts, We can learn and improve our trading skills in demo account and can trade as long as we can because it had virtual money, If we shift we live account without proper practice in demo it will result failure.

 

[EURUSD]

Might many trader beginner they too much excited because interested on forex that seem very promising, with only learn on basic forex then rush to jump on real account without practice on demo account, and most of them is fail, so will better for novice trader spent time on demo account until finding profitable system or really understand how to manage money on uncertainty market condition