Importance of Demo Accounts

Ary Barroso

Active Trader
Jul 9, 2017
908
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Trading with demo account is vital when one is a new trader Going directly to live, means taking too much risk of loosing money .Its best for them to trade risk-free with a demo trading account.
That’s the beauty of demo; till now demo is the best way of learning Forex! On the other hand, starting with live is a dangerous choice!
 

Feswyn

Trader
Nov 22, 2019
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48
I think a demo account can be a great helper in many cases. It all depends on how you use it and how often you use it. I agree that demo is a great solution for beginners who are not familiar with the market at all. You should at least understand how to buy a deal before making a financial investment. In addition, the demo helps you to master new strategies and to assess whether they are suitable for you and whether they can be used for profit in your particular case. I have read a lot about the demo, its advantages and disadvantages. I remember that I saw the opinion that you cannot use the demo all the time because you may lose your skills in working with real money. Also, when you use a demo account, you don't feel the emotions that arise in the real market, when you risk your own real money.
 

tierry

Trader
Dec 6, 2019
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0
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Can you believe FxPro does let you hold on to your demo account EVEN if you are LIVE trader!?!?!
Are they going broke?? How can they NOT afford to provide such an essential service as permanent demo account to live traders!!?!?!?!
 

Zack King

Active Trader
Mar 4, 2019
130
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demo is great way to backtest your own strategy against the service offered. those who dont demo before going live absolutely baffle me
 

fxtrendtrader

Newbie
Nov 27, 2019
20
2
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Can you believe FxPro does let you hold on to your demo account EVEN if you are LIVE trader!?!?!
Are they going broke?? How can they NOT afford to provide such an essential service as permanent demo account to live traders!!?!?!?!
They does or doesn't?
 

Petez_FX

Trader
Aug 13, 2019
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To be honest, I wouldn't say that they are important. At first, maybe - because any new comer won't have a clue what they are doing, but people also need to learn risk management, that is also a massive factor (as important as strategy). I would encourage a new comer to trade 0.01 lots on a real account, or even risk 0.1% of an account.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
61
39
32
Can you believe FxPro does let you hold on to your demo account EVEN if you are LIVE trader!?!?!
Are they going broke?? How can they NOT afford to provide such an essential service as permanent demo account to live traders!!?!?!?!
Really? I am sorry to hear! It’s really unexpected attempts, can’t believe it.
 

Zack King

Active Trader
Mar 4, 2019
130
26
44
Well said; this is why new traders always need to start their trading with the demo; otherwise newbie will face a huge loss initially!
agree 100%. i stil l keep a demo open when i am live trading. i like to try out new assets and try different strategies ina demo environment before using real money on live :)
 
Jan 9, 2020
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Demo accounts are A MUST! You will eventually have a system, forged from your demo trading, and you follow it religiously. You then trade real money. But a very small amount. Then you repeat this trial again with the real money.
In doing so, you have taken emotion out of the equation, which is crucial. You are bullet-proof. You are ready to trade real money.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
61
39
32
Demo accounts are A MUST! You will eventually have a system, forged from your demo trading, and you follow it religiously. You then trade real money. But a very small amount. Then you repeat this trial again with the real money.
In doing so, you have taken emotion out of the equation, which is crucial. You are bullet-proof. You are ready to trade real money.
Nice to see your approach on demo, basically traders need to practice their demo until they are consistent enough!
 

btseen

Newbie
Jan 17, 2020
26
10
3
40
I believe I already said about the importance of demo account over real account. It is important to understand that a newbie should be using demo account to start trading so as to get better in time
 

TFA

Trader
Jan 23, 2020
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14
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yes try on demo account first. dont just jump straight into live account trading