Demo accounts

Whitesnake

Corporal
Messages
428
It will actually depend on the trader to be able to take advantages of his Demo based trading and once he can do it he will start learning and become more confident as a Forex trader.

Yes and these days there are many platforms available which allows the trader to provide signal through their demo accounts and they can be able to succeed if they are good and profitable traders. Thus, nobody can ignore the advantages of demo accounts:)
 

ForexVerified

Private, 1st Class
Messages
582
Demo is good for forward testing your strategies without risking your capital. It's not good because spread and slippage are usually unreal (if you are scalper). For EA testing it's good because you can judge expert advisor's performance and what options can you tweak to improve performance on real account.
 

Aaron Dias

Recruit
Messages
108
Demo is good for forward testing your strategies without risking your capital. It's not good because spread and slippage are usually unreal (if you are scalper). For EA testing it's good because you can judge expert advisor's performance and what options can you tweak to improve performance on real account.

We have to take the best advantage of the Demo trading accounts and the only way that can be done is by using them consistently and also getting to know about the trends in the currency pairs we wish to trade :)
 

davidshanks

Recruit
Messages
10
Hi guys!
Can you name me some advantages and disadvantages of demo accounts?

Hey mates,

Being a newbie, I have found the system of demo trading to be very useful and meaningful.
The demo account has made me understand the trading world more accurately.
The things I read through many forex materials and the technical part of it, got cleared after I opened a demo account. I have found it to be fun and appropriate for new entrants.

But yes the disadvantages do come with it. The demo account has not helped me develop a trading discipline as talked by the members here. And I don'y consider the dummy money as my real money, where the difference automatically comes.

Happy Trading :)
 

Aaron Dias

Recruit
Messages
108
Hey mates,

Being a newbie, I have found the system of demo trading to be very useful and meaningful.
The demo account has made me understand the trading world more accurately.
The things I read through many forex materials and the technical part of it, got cleared after I opened a demo account. I have found it to be fun and appropriate for new entrants.

But yes the disadvantages do come with it. The demo account has not helped me develop a trading discipline as talked by the members here. And I don'y consider the dummy money as my real money, where the difference automatically comes.

Happy Trading :)

Many traders have fond out that doing Demo trading is very much helpful for them as they can earn a good trading income from it and they will also learn about which trade is better :)
 

nahiyar

Private, 1st Class
Messages
825
Demo accounts are optional for traders , if they want to know about trading they can do trading free on demo . They can get better idea about any broker by using its demo . Demo trains him well and gives experience of trading without using his own amount.
 

downtrend

Sergeant
Messages
878
If a trader don't demo trade, then he has to pay the price in his real account. When you have the facility of using a demo account for free, then why waste our real money while learning.
 

bigdolly

2nd Lieutenant
Messages
1,024
Unfortunately demo accounts are same from broker to broker you won't be able to see true colors of a broker just testing its demo. Profitable trading is the only way to see is your broker ready to part with money and pay your profits not at expense for them. Its better to know some real trader which consistently trades in profit and follow his recommendation about broker choice.
Just my two cents.
 

Pharaoh

Colonel
Messages
19,959
Maybe, maybe not. If a broker has a bad data feed, full of false gaps and spikes, this is likely to show on the demo account.

If the broker's tech support can't answer technical questions about a demo account, depositing your money with them won't raise the IQ of their support staff.
 
Top