What is the Demo account for you?

[Ramon]

Forex is blessed with several opportunities to any trader as a trader I feel. It is the best part time job for you if you know the business well. FX can both harm you and make you establish. Among the facilities one is demo account which is funded by fake money. It is like a practice ground. Several brokers provide several types of demo trading platform. Demo account helps you in developing your skill.

How much time do you trade per day? Do you have any useful time strategy? I read about time management for tradres on LiteForex site but i can not find this article again

 

[kxforexmart]

Demo accounts are very important platform to practice and increase the experience and skill so that we can make good pips achievement in a proper way in the real trading field .

 

[Lee Mark]

In my trading career, I used their demo trading service for several months! Basically, in my demo I used more than 17 trading brokers for judging their live trading activities! In addition I have an interesting experience, many brokers increase their trading spread during high impact news in their live account but not in demo!

 

[Faal]

Demo is not only for practicing but also for improving the accuracy of my trading strategy! Yes, right now I am involved with live trading, but till now I am active on demo with my 2 upcoming trading strategies!

 

[Smash Fun]

A demo is only for learning the purpose, do not depend on it for long term otherwise, you will face an issue in your real work when you start real investment account in Forex.

 

[sininfinity]

As a newbie one should not come to conclusions. But look for information and test things out. Also should not blindly believe others because what works for others may not work for another.

 

[Max Trade]

My main intention was making a good trading strategy, so in my learning stage I practiced with a back-testing trading software! I didn’t use my demo for a long time! Yes, I used back-testing software for 2 months only! Then I have started my live trading and now I am doing my live trading quite comfortably!

 

[Smash Fun]

how do you think which broker has the best coonditions fo trading? I thinl liteforex broker has good conditions for newbies i started my trading with them also

I have never thought such thing about the market and its condition and relates it with the broker. The broker is only a platform, `not your mind, you are going to work here not the broker.

 

[Glenn Phillips]

Honestly speaking I have passed a long time in Forex but still using demo account, even though so many traders always ignore this trading place. I always use high leverage and all my trading strategies in here to see the performance how it works. This approach always helps me to avoid risk when trading in live.

 

[The trader]

The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading experience.

 

[Smash Fun]

Demo account is essentials to trade in this market and everyone should work on it to gain knowledge but after the demo, you should look for a mini live account to test your skills and knowledge about the market.

 

[bolide]

A demo account gives me a chance to see how the broker works, check its terminal and, of course, practise my strategy without any losses.

 

[kxforexmart]

Demo accounts are mainly meant for the practice purpose and to increase the experience and the skill because when we can practice a lot ,we can be very much experienced

 

[Max Trade]

I have traded in demo account for 2 months , but I have also studied in Baby pips school , basically demo trading just for 6 month is more appropriate for the traders who are newcomers. But if you have other educational source then highest 2 months is more enough for continuing demo account which is the master place to become a knowledgeable trader.

 

[The trader]

Trading with high leverage in demo account is right decision , because leverage contains always higher risk in live account , it could be dangerous at any time despite of most accurate trading plan .

 

[Smash Fun]

Demo account is the best way to start learning about Forex and trading in the market. But it will work only if you are serious about trading and ready to take a risk in live work also.

 

[sininfinity]

Trading with high leverage in demo account is right decision , because leverage contains always higher risk in live account , it could be dangerous at any time despite of most accurate trading plan .

If a trader manages risk then how high leverage harms him? It is the trader that puts his capital in harms way. Leverage is just another advantage forex market offers.

 

[William]

A demo account is when you make the stupidest deals, but then think, gosh, why didn't I open this deal on a real account?! =)

 

[Irina]

So that's not the case loss is great, need to exercise on a demo-account to have a good understanding of the system of trading used, ideally so in order to keep practicing though in demo account but its effects are to be felt in the future

 

[lioneld]

Everyone at one point started with forex, got their first experience on it, so they are definately useful. But all the psychological fears and preconceved ideas depend on the trader's personal traits.

Yes, all of new traders start their demo from the same stage! But, which traders use their demo account with the enough concentration and determination only they can enjoy their live trading! I see, professional Forex traders used their demo account for a such long time like more than a year.