Can demo accounts give us all we need?

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
That's pretty much what some of the top traders do..test out diff strategies on demo, test it in real time under real market conditions and then apply the same to live account.
 

George A

Trader
Sep 28, 2013
7
0
12
I agree with all that demo accounts will NOT give us all we need , BUT in my humble opinion , it is an extremely important phase a trader needs to go through , because , we MUST learn before we trade , and trading a demo will give the trader / learner , a live market conditions to apply their learning , whilst NOT under the pressure of money losses which can cloud a learners thinking
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
Oh yeah, a demo is perfect for new traders to learn more about the market. Of course, a nano/micro live account is better but you can always do the demo and move shortly to live acc.
 

jlangeles

Trader
Sep 1, 2013
9
0
12
Well, a demo can give you practice, knowledge and experience, but as some have already said, there's something missing, and that's the emotional thing, no demo can show/give you the feelings and emotions that a live account has, still I'd say that a demo gives you 95% of what u need.
 

miles

Banned
Nov 26, 2013
70
0
0
I would say yes, because demo is one of the major thing that will straight and prepare you up in order to trade successfully in the real forex market.
 

lee.belisar

Confirmed Gdmfx Representative
Nov 7, 2013
42
0
22
Manila, Philippines
goo.gl
Demo account help us to know how exactly should we do trade in Forex, but not all needs fulfilled by a demo account. Demo account is always helpful for a new trader who wants to trade in forex. Here we get know when and how to use our strategy, also money management. Though a demo account does not fulfill all the needs then also it fulfill most of Forex.
I've been using a demo account for more than three weeks now. And I am enjoying it. But I learned that it is not recommended to be used for a longer period of time as this can result to bad trading habit, like taking to much risk.
 

miles

Banned
Nov 26, 2013
70
0
0
I think trading with demo account first can give us like 60% enlightenment in the forex market out of 100% that we need, for we can't just jump in to market without no knowledge about it, It's like head to the river without knowing how to swim.
 

lee.belisar

Confirmed Gdmfx Representative
Nov 7, 2013
42
0
22
Manila, Philippines
goo.gl
Demo account is indeed a good place to try our Forex trading skills. It allows us to have a general grasp of the trading process and at the same time permits us to hone our knowledge about the said process. But demo account does not give all what we needed in Forex trading. It is just one of the steps to know more about the subject matter.
 

dodo

Confirmed ProfiForex Representative
Jan 23, 2014
20
0
12
I still recall back that i was able to get some experience about forex market through demo account despite that it can not give us everything but it is good for practicing forex market if you want to know more about forex. I really enjoy the demo with broker for there is no restriction and the good part is that, it is user-friendly.
 

triplet

Active Trader
Oct 7, 2014
101
2
27
Demo cannot really give you all you need. demo cannot help you to control your trading until you go into live proper for you to experience that.
 

stephane

Trader
Jan 29, 2015
19
0
7
Demo cannot really give you all you need. demo cannot help you to control your trading until you go into live proper for you to experience that.
I agree to that, but another thing is that if you cannot make it on demo, you will not make it on live, for it is even harder.
 

duxingxia

Trader
Jan 30, 2015
51
1
7
China
Obviously, demo account can't teach us everything, it works as instruction manual for new ones and you can try different trading strategies. if you want to be successful then demo accounts are a must!! its a phase that we all have to go through
 

Steve Lock

Active Trader
Feb 28, 2015
202
0
32
Obviously, demo account can't teach us everything, it works as instruction manual for new ones and you can try different trading strategies. if you want to be successful then demo accounts are a must!! its a phase that we all have to go through
I agree, you can't move on your trading Forex without demo (especially if you're a newbie), but it can't teach us everything. I think it's better to trade with a micro account or use money which broker gives you. For example, freshforex has a current no deposit bonus.
 

Dmitriy Enrst

Active Trader
Mar 14, 2015
186
2
34
I agree, you can't move on your trading Forex without demo (especially if you're a newbie), but it can't teach us everything. I think it's better to trade with a micro account or use money which broker gives you. For example, freshforex has a current no deposit bonus.
I agree with you, on demo account you can practice, experience movement of currency pairs and analyse volatility, but if you have nothing to lose (I mean you don't have your own money on deposit), you feel relaxed and in most cases you will lose your money. If we are choosing between a demo account and no deposit bonus $500 from FreshForex, the last option is definitely better.
 

David M

Confirmed IronFX Representative
Apr 20, 2015
23
0
2
Demo accounts are a good way to get a feel of what trading forex is like but I definitely don't believe it is enough. When I started trading I think I spent too much time with demos and this wasn't good. You also need to get educated with what is happening in the market. I started trading with ironfx because they were able to provide me with useful education that allowed me to gain a better understanding of the markets. I was sent emails about what their analysts were talking about but was also given training on the platforms they had. This was useful because it allowed me to gain a different approach to trading. I wasn't one directional, it allowed me to see that fundamental and technical analysis is very important also.
 

markiva

Confirmed ProfiForex Representative
May 9, 2015
20
0
2
A demo account is a very good learning tool and is very useful for all traders. A demo is a practicing account but it cannot give you all there is about forex trading. If you want to experience real trading you need to open a live account.
 

fxapex

Active Trader
Jun 7, 2013
258
7
29
It gives a virtual market experience, you can every thing that you do in a regular trade only thing is that you cannot earn from here.
 

koyl

Trader
May 25, 2015
71
1
7
As much a demo is a great tool for learning and practicing it cannot give you all you need in forex because you can only gain real experience when you go into live trading and also you will only learning the psychological aspect of trading when you trade in live account.
 

chriswhite010

Newbie
Jul 6, 2015
4
0
2
Really not. Demo accounts can never provide you the most satisfactory and beneficial services as compared to the paid accounts. Demo account have less facilities and quality services. But being a newbie, you can go for it for few months.
 

fxapex

Active Trader
Jun 7, 2013
258
7
29
Really not. Demo accounts can never provide you the most satisfactory and beneficial services as compared to the paid accounts. Demo account have less facilities and quality services. But being a newbie, you can go for it for few months.
But it could give you a real trading experience, and you dont have to risk your money.