For beginner: demo or micro ?

[Kazumu Fukunaga]

Yes demo is appropriate for new traders. And at the same time demo account needs to use for learning purpose not to do random trades. They should use to find out how any strategy works.

 

[Kazumu Fukunaga]

If you are successful in demo by following a very specific methodology for a long period of time, you have higher possibility of doing good in live as well. But if you are random in demo, your chances are zero in live. When it comes to real money we start thinking a bit differently.

 

[Faal]

if you trade in demo seriously of course there is a chance to to bring good amount of profit from there by using good knowledge and experience.

 

[Davidfx89]

when it is time to learn of course you have to trade in a demo , its the master place to become knowledgeable , but i have seen traders generally dont believe the importance of demo account.

 

[Svetlana Loboda]

having a losses is very common attitude and there is no one who can avoid it in spite of having most powerful analyzing trade knowledge and experience.

 

[eloisebass]

If you are a complete newbie in trading, it would be ideal to start with a demo account where no cash involvement is present, hence zero risk. On the other hand, if you have begun trading, you could try a micro account where you can go for real trading but with less money, hence the name micro account which is suitable for beginner traders because of lower risk involvement.

 

[Fx Master]

demo is a perfect place where we can see how the strategies work , i always use this approach in demo , and this helps me a lot in real account to avoid unfortunate risk and losses.

 

[spearrider]

If we speak about accounts for testing opportunities, then of course you have to pick the demo account because it's atually the same thing as the live account, the only difference here is that you can't withdraw money from demo as well as deposit. AAlthough, some brokers provides their trader with such an opportunity to deposit onto demo account mostly because trader can feel that emotions which they feel on a real account. I suppose, that youshould test everything on demo and do it periodically. There are no strategies which are permanent, you will often have a need to edit something in your strategy.

 

[lynnsandoval]

For a novice, I always suggest a demo account no matter what. These micro accounts are a way to get new traders excited for trading with a low amount which is not advisable if you don't have enough experience and knowledge. So if you are a newbie always go for a demo account and practice what you have learnt with paper money.

 

[Kazumu Fukunaga]

For a novice, I always suggest a demo account no matter what. These micro accounts are a way to get new traders excited for trading with a low amount which is not advisable if you don't have enough experience and knowledge. So if you are a newbie always go for a demo account and practice what you have learnt with paper money.

In demo account, you can test your strategy to find out the winning percentage and risk reward ratio. We can not test any strategy directly to live account without knowing properly.

 

[kathrinedees]

Both demo and micro accounts have their own importance. Demo accounts work great when you are through your education and want to gain some practical knowledge. And micro accounts work great when you are about to enter the live market and don’t want to risk big amounts.

 

[adrienneadams]

A beginner should choose a demo account if he wants to test his knowledge about trading. The demo gives a possibility to try real trading without losing real money, but you're still able to learn any strategies and tactics there. Also, it's a great way to see if the broker is good for you or not.

 

[fxgeek]

Beginner should try to focus on demo trading first and then consider going live if they are ready, but I'd recommend them trying 40-60 in which 40% on demo trading and 60% on small account (micro in this case).

 

[Kazumu Fukunaga]

Yes it is important to test trading strategy on demo before trying it on live account. Without knowing the pros and cons of a strategy, it is not good to try on live.

 

[dougbennett]

Beginners should start by opening a demo account. Demos can be opened with most brokers and provide traders with an opportunity to practice and learn without risking their own money. Once you have acquired the right skills, you should think about opening a micro or mini account.

 

[David Marco]

I think demo is the best place for practicing

 

[Kevin Vogt]

I think demo is the best place for practicing

Demo is to test our strategy before trying the strategy on live account. For newbie demo is to know trade mechanism works and also for testing strategy.

 

[Cedric Fenech]

If you are just starting out, use a demo account. Get an impression of the live market and understand the basic functionalities offered by your broker. Once you are well-versed with all this, open a micro account. Start with understanding the difference between the demo account and a live trading account and increase your capital with time.

 

[Ebba]

For beginner, it is always best to start off with demo before going live with micro.
Imagine starting off and you have no idea where to start, so going live with micro with little to zero experience is a bad, bad idea.

 

[samrex]

For beginners, I suggest demo first, then micro. A demo account allows you to learn about trading. Micro accounts help you learn about controlling your emotions.