demo account

shilpi

Trader
May 7, 2014
3
0
12
i been doing fss from 2 months .. on lower lot size in demo account n got good results also and wud like to start a live one...but my friend says u not ready yet as even a proffeesional takes several months or years to do it...n live account is not like demo ..u will blow it ...is that true?
 

praise

Banned
Apr 7, 2014
57
0
0
Yes demo account is not like micro account in the sence that real money is involved in micro account but real money is not involved in demo account. If you want to trade forex and make real money, practice a demo account for a long period of time since any loss can affect you. You will not be affected when practicing demo account because whenever you lose you can make a new start and correct the errors involved. You can be a business guru only if you practice a demo account well because it is the solid foundation of every trade in forex.
 

Enivid

Administrator
Staff member
Nov 30, 2008
13,233
553
144
Odessa
www.earnforex.com
Trading on a live account is more difficult. First, because there is a risk of loss of real money, which adds a lot of emotions to trader's mindset. Second, because execution of the live trades may be different (much poorer) than that of demo trades with the same broker.

If you really want to try live trading, I suggest starting with micro account and risking only some small amount of cash that you really can afford to lose.
 

vicknic

Confirmed ProfiForex Representative
Jan 21, 2014
207
1
39
Netherlands
www.profiforex.com
i been doing fss from 2 months .. on lower lot size in demo account n got good results also and wud like to start a live one...but my friend says u not ready yet as even a proffeesional takes several months or years to do it...n live account is not like demo ..u will blow it ...is that true?
This is true to an extent. If your only experience is with a demo account, it will be very difficult to get same success with a live account. This is because both trading environment is different. I would advice you to spare $50 or less or even more. Open a micro account with a very good broker. (This is what I did on my first experience years ago with my broker). You will be given a bonus to add to your starting capital. Use this money to trade. Always open 0.01 lot size to reduce your risk. Practice with a Real micro account and prepare yourself for a successful future career in forex.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
14
32
Canada
i been doing fss from 2 months .. on lower lot size in demo account n got good results also and wud like to start a live one...but my friend says u not ready yet as even a proffeesional takes several months or years to do it...n live account is not like demo ..u will blow it ...is that true?
Pro's do not demo, so your friend is off on that. Where your friend is right is that good demo results do not really matter. You won't know until you actually start to trade.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
A demo is just that, a demo to help you learn the ropes..for actual trading experience go live with a small account, good lcuk..
 
Mar 30, 2020
20
0
2
27
A demo platform is essential to understanding a broker's trading system and to check the actual quality of execution. Itcan be useful to see how prices and spreads vary under different market conditions. A demo can give you an idea of how good the execution quality of your broker is, but only if it behaves the same as the real one.
 

yeneffer

Trader
Mar 30, 2020
34
5
8
37
Yes, please do not start on live account if you are not able to make a consistency profits in the demo account. Demo account is created so that you can create and develop a winning strategy in your trading.
 

Sicert

Newbie
Mar 31, 2020
7
1
4
22
I think if you are new in Forex then a demo account is a must to trade to get some experience and practice to start trading with a live accounts.
 

Daath

Trader
Apr 5, 2020
25
1
9
33
I am completely sure that you can not refuse a demo account, this is a real opportunity to prepare for real trading.