Demo accounts

dextor

Private, 1st Class
Messages
41
I must say demo accounts are very valuable in terms of the learning process. While you are getting basic knowledge through reading you can see the trading terminal on demo accounts and apply al those that you learn day by day. Then if a trader finds real interest in this business they will eager to continue trading on live accounts. Otherwise, they can quit from trading if the market is not according to his interest. He is not bound to use his actual amount in trading.
100% agree with you
 

fxoday

Corporal
Messages
79
One mistake for some trader is they don't trade seriously through a demo account, they rush to make trading on real account without good early preparation then eventually facing loss in trading, demo account you can free to backtest any system trading before the start in real account, learn how to manage the risk and much more
 

EuroTrader

Sergeant Major
Messages
1,029
Demo accounts are for the safety and training of new traders. They will not waste their real amount in just making experiments and learning of trading. They can easily get this target on demo to know trading terminal usage of trading tools and many more things that are important to know.
 

bigdolly

Sergeant Major
Messages
868
Demo accounts are for the safety and training of new traders. They will not waste their real amount in just making experiments and learning of trading. They can easily get this target on demo to know trading terminal usage of trading tools and many more things that are important to know.
Which demo account can you recommend for trading? have you tried any from FCA broker?
 

fxoday

Corporal
Messages
79
Almost all broker provides a demo account for clients, especially for a beginner they can use a demo account for practicing in real market condition with virtual money, sometimes I am still using demo account contest forexcup to trained forex trading, but unfortunately never become winner
 

momo3HC

Sergeant
Messages
168
Which demo account can you recommend for trading? have you tried any from FCA broker?
Do not choose separate broker for demo. Choose this one which you`ll use for real too. In that way you`re testing the broker along as your skills.
 

fxoday

Corporal
Messages
79
Do not choose separate broker for demo. Choose this one which you`ll use for real too. In that way you`re testing the broker along as your skills.
Make sure in demo already finding suitable and profitable strategies or trading system, learn to discipline in the demo account, if good habit in demo account was already good and strong, later in the real account will be adjusted with the later condition.
 
Messages
6
It is important to mention that demo accounts are useful not only for newbie traders but for experienced traders too. For example, they could use demo accounts to be able to improve their trading skills without exposing their trading capital to the risk of financial loss. Some of the professional traders also use demo accounts to prepare for sizing – if they want to increase their average position size, they start trading with that size using demo until they will comfortable with the new figures in their P&L – it is very important to reduce the impact of emotions.
As far as I know, most of the brokers offer demo accounts on the same conditions. Once I`ve heard about the demo accounts with the limited period of activity (meaning that you ca use them for short period of time after which you will have either fund the account with real money or to suspend trading at all), but such situations are quite rare.
By the way, it would be better to open demo account with the broker you are going to trade with in future. In this way you will be able to find out how it works with the clients. It would be also important to practice using the platform provided by the broker to become familiar with it.
 

fxoday

Corporal
Messages
79
Usually broker will provide demo account for their client, especially newbie they must treat skill and improving trading skill through demo account, because forex is no quick way to make money, or become rich at short time, with spent time to learning through demo account hence will minimize the risk if later start with real trading account, indeed trading demo compared with real is different, but trading demo will remain useful to backtest skill
 

BaazexRep

Recruit
Messages
36
Demo trading is best for new traders who are lacking of experience and discouraged because of lack of knowledge about terms like stop loss orders, pips, leverage and similar confusing trading conditions
 
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