Can I really learn forex with DEMO

[Marco James]

That is also another way to take advantage of using demo account. Even I used it to backtest some of my strategies and see if it works or not.

Right.

 

[bottomcatcher11]

Yes we can definitely learn forex trading from many differnt websites with demo.

 

[Daath]

The demo account does not provide full training, it just shows how the platform itself works.

 

[Terry_8]

The demo account does not provide full training, it just shows how the platform itself works.

So kind of good for knowing the technicalities? I definitely recommend a demo account to every beginner.

 

[Lukacs88]

As you may learn over time, nothing beats experience, and if you want to learn forex trading, experience is the best teacher. When you first start out, you open a forex demo account and try out some demo trading. It is very easy for traders to think the market will come back around in their favor.

 

[Pretty6]

Yes, I think demo trading is very important. Best to know the basics of trading and checking the platform's technicalities too.

 

[Sheldon56]

Well, demo won't give you a 100% similar expeirence like a live account, but yes, to have a little practice and know the basics, demo is a thumbs up.

 

[Zeenat shein]

For a new beginner who is unaware of systems of the Forex market, the only tool that will help him as a trader is the Demo account. This will help him learn live trading and practice it before stepping in the Actual market

 

[Andromathis]

Demo accounts are suitable for beginners in the sense that they can learn the platform, try their hand, but also already experienced traders who can try their strategies there.

 

[Vudokasa]

I do not think that you can fully rely on what the demo will be a full measure of success, because if you treat it as a game or as some kind of entertainment, the probability that everything will turn out very small. But in general, the demo can be considered as a good tool for training, so that you can learn the mechanics of market analysis and trade execution. It is very important for you to navigate in timeframes and levels, learn to insure yourself and your money accordingly. So, of course, you should not neglect this tool, it will never be superfluous, the main thing is to take trading seriously and analyze your steps in the market to minimize the chances that you will constantly make the same mistakes.

 

[ForexandGirlsIlike]

Only way to learn!

 

[pippin]

That's nice. Demo account is really helpful even after many years of trading i still used demo account to backtest strategies or try out new methodologies.

Where do you find quotes for backtesting? Use from metaquotes? I find them to be of bad quality so looking for another source

 

[ForexandGirlsIlike]

Don't risk money while learning!

If you use a quality broker, then on a demo account you can practice it well.

All brokers have demo accounts.

 

[ForexandGirlsIlike]

Where do you find quotes for backtesting? Use from metaquotes? I find them to be of bad quality so looking for another source

Use TradingView

 

[pippin]

Btw can I connect Hotforex feed to tradingview? Do they have a special guide for that?

Use TradingView

 

[ForexandGirlsIlike]

Btw can I connect Hotforex feed to tradingview? Do they have a special guide for that?

Not sure tbh

 

[Daath]

Thanks to the demo account, I studied the platform of the Amarkets broker in the end, with which I continue to work with it.

 

[Meztijar]

With one demo account, of course, you will not be able to study the forex market, so you need to have additional knowledge.

 

[Sheldon56]

With one demo account, of course, you will not be able to study the forex market, so you need to have additional knowledge.

True! One has to explore everything related to forex to have a deep understanding.

 

[Brayden]

Demo is a great way to learn practicality, platform usage,etc. Though not self sufficient, you'll have to use other learning materials too; but demo trading can be a great way to practice and move forward.