Why should I trade using a demo account?

[LalRemigiusz]

the demo account just for the exercise. Whereas, in order to sell the original account.

 

[Hoang]

All traders started with a demo account. I did mine with Forexchief server and they gave free money to start a real account when I was ready. I still trade with that account till date.

 

[Tom Latham]

the demo account just for the exercise. Whereas, in order to sell the original account.

It depends o you mate; even you can take the demo as seriously. Then definitely, demo will help you to learn Forex! I see, many traders are building their trading skill by demo without any cost.

 

[Hoang]

This is true Tom, like I always say, the benefit of demo is based on individuals approach to it. How serious you take will produce the desired result you want.

 

[Tom Latham]

This is true Tom, like I always say, the benefit of demo is based on individuals approach to it. How serious you take will produce the desired result you want.

Thanks, mate! In addition, very smart words. Really, demo is one of the best sources to learn Forex & update traders trading strategy.

 

[Hoang]

Thanks, mate! In addition, very smart words. Really, demo is one of the best sources to learn Forex & update traders trading strategy.

Of course, it's just a matter of channeling the right emotions to it and knowing that it will not be same with real account.

 

[Svetlana Loboda]

Of course, it's just a matter of channeling the right emotions to it and knowing that it will not be same with real account.

By the way, I don’t think it’s a simple job! Since I see, here only 10% traders are making money, so Forex is one of the smartest way of money earning.

 

[Gravelwood]

Trading on Demo before going to a real account is the best favour you can do to yourself as a newbie trader and you can be sure never to regret. Though it is slightly different from the real account on some matters, it gives you a feeling of what trading is all about and you'll get to learn volumes

 

[Svetlana Loboda]

Trading on Demo before going to a real account is the best favour you can do to yourself as a newbie trader and you can be sure never to regret. Though it is slightly different from the real account on some matters, it gives you a feeling of what trading is all about and you'll get to learn volumes

No doubt; demo helps a lot! By the way mate; how many months did you used the demo before your live? For me it was fully one year.

 

[Svetlana Loboda]

You should do demo account trading to get yourself familiar with the basics and fundamentals of forex trading. The best thing about demo account trading is that there is no possibility of losing a single coin in it. I don' know what is better than that.

I think so; demo is the best way to make own trading skill without any cost (money); but to build a good trading skill we should put our level best on dedications & concentrations.

 

[Alexander Hudson]

A demo account is the best place to learn all the basics of forex properly and perfectly.

 

[Kazumu Fukunaga]

With demo account, you can test your strategy. It's risky to test your strategy directly in your live account as you don't know how it will work.

 

[Eduardo Lucchese]

Yes. A demo account is the most effective way to learn forex.

 

[Gito Dinev]

The demo account is the best place to learn and practice trading.

 

[samrex]

Demo is the best way to increase the trading skills and when you feel you have enough skills, move to live trading.

 

[Kevin Vogt]

When you trade in demo you know that you are not losing your money. You remain indifferent. But when you trade in real account, you become conscious. You now know profit and loss depends on your decision. Fear, greed, and joy starts working. Demo teaches us how our mind should be while trading in real account.

 

[Mark Dahl]

It is a risk-free way to learn and practice trading.

 

[Oscar Shumack]

It helps a trader to learn the basic knowledge about trading.

 

[colincook]

After a while on demo trading it’s important to test live conditions through a small account. Many brokers like finprotrading, eaglefx, liteforex allow trading from as low as $5 or $10, which I think is more helpful in practicing trading than a demo account.

 

[A_S]

Online forex demo brokers typically provide free forex demo accounts that are frequently funded with large sums of virtual money.

The following are some of the most typical benefits of participating in forex demo trading:

• Evaluate whether You Like Trading Currencies - Those new to currency trading or trading, in general, might use a forex demo account to see if they are intellectually and emotionally prepared for the rigors of forex trading. Everyone is different, and some people may enjoy currency trading while others may find it to be inappropriate for their interests, personalities, or lives.

• Trade Forex with No Risk While Learning - Novices who are still learning to trade currencies frequently feel much more comfortable putting their actual money on the line if they have the opportunity to practice beforehand. A demo account allows users to put their lessons into practice in a setting that is as near to real life as possible without risking their real money. This permits them to make frequent beginner's mistakes while learning without having to pay for the repercussions themselves.

• Good Money Management Techniques Should Be Practiced - Learning to apply well-established money management techniques is one of the secrets to long-term success in FX trading. A demo account enables a rookie or expert trader to thoroughly practice such tactics on real exchange rate movements and observe for themselves how the typical benefits are reflected in virtual money profits in their demo account.

• When trading, learn to control your emotions. For many people, one of the most difficult components of trading is learning how to manage their emotional responses to winning and losing trades in a way that promotes overall success. Fear, greed, and hope are all typical psychological responses to making and losing money, and how well you deal with them may often tell the difference between a successful forex trader and a loser.

• Without putting real money at risk, you can try out a new trading strategy. Wise veteran traders and rookie traders alike will want to test the success of any new trading strategy they develop before putting it into practice in a live trading environment. This helps them to become accustomed to following the system and iron out any problems that may emerge as real-time exchange rate swings occur.

• Try Out a New Broker's Trading Platform — Unless you're already familiar with the MetaTrader platform, which is supported by many online forex brokers, you'll probably want to start with a demo account to see if a new forex broker's unique web or client-based trading platform is right for you.

• Examine a New Broker's Features and Services to See If They Are Beneficial – Demo traders frequently get access to extra client features, instructional and news services, and customer care departments of forex brokers keen to have you open a live trading account with them. This is a wonderful opportunity to evaluate the broker's overall services before committing any actual trading dollars to ensure that they are the type of trading partner you want to manage your account.