Why should I trade using a demo account?

[Bonyi]

Here are some reasons why we highly recommend for you to practice with a demo account:
Learn and experiment with play money
A demo account mimics the actual market in real time and allows you to use play money. This gives you space to try out a number of techniques, without fear of losing your actual money.

 

[Daisy]

Its imperative that you make all of your mistakes in a demo with fake money cause you sure don't want to lose real money in a real account. I can be certain that most newbie will make technical mistakes that will lead to lost so its wise to learn all the technical side on a demo. If you do that you will save yourself tons of headaches and loss in a real account. I would not recommend anyone to go on without practicing a real demo first.

 

[gkintl]

Without a demo account, it is almost impossible to understand the functioning of all indicators, without any risk. Also, a demo account enables a trader to develop a strategy and test the same without any worries. Last but not the least, a demo account also allows a trader to fine tune the strategy which is indispensable for prolonged success.

 

[Daisy]

All newbie must use demo to learn the trading platform. How will you know how to open trade and how to set sl or tp and such. How will you know how to read charts and learn trends? All traders have to start from a demo unless they were born with a demo embedded in them. Its the first step to learning how to trade. Take advantage of it cause its fun and it helps you in numerous way. You cant' go without a demo so spend a lot of time opening as many trades as possible and learn your mistakes and you will do well in a real account.

 

[thanhvi410]

Trading with a demo account allows us to have an overview of the trading strategy. We can know the pros and cons of strategy we are using, from which we can additional or replace the elements needed to create a complete trading system

 

[Pettyeve]

When you trade in a demo account, you are very sure you are trading and not losing your real money. Even if you have to lose for a full month in a stretch, You still would not have anything to worry about. That is the reason you have to learn from the demo account.

 

[Decub]

Well, trading in the Demo account is more than a necessity. That is something every trader needs, even though some refute it. The Demo account is a safe learning environment and a better place to build our strategy without the risk of losses.

 

[UMOFX AIR]

If you do not want to loose your real amount in just making experiments or getting experience. Forex market is not easy to handle . Demo tells us how to trade in forex market slowly traders know the market dealing and money management techniques.

 

[sindarin]

As we all here know about demo account, it is a virtual account that used by a lot of trader to learn or test their own strategy that they created before. I recommend it for all trader because it is a fit place. Well, for newbie it is a good place to learn, even not all but for the basic that is fine and for Expert or Experienced One they can use it as the place to test their strategies.

 

[Pettyeve]

Trading in the demo account is important for the newbie trader to follow so that he or she will not be taking the risk of trying to trade in the real account when he or she is still learning. It is better to trade in a platform that is using virtual currency and that is why demo account is important.

 

[Decub]

One other good reason to trade in the Demo account is that in the path to building a good trading system, a lot of strategies are bypassed and the only way to get a credible one is by trial and error. A trader who plays a trial and error in the real account is only joking with his trading capital.

 

[winuga]

no matter what others will say about demo trading, as for me demo trading will not guarantee our success in our live account trading activities, it is only immitate just like a driving car simmulator in video games compare with drive real car on the road, it so so difference results, so just like taking lessons on driving car i will choose picking up real car with small risk guided by teacher rather than playing video games driving lessons, in trading i will choose cent account to learn because of small risk to take but huge chance to get real profit

 

[riki143]

It's important to gain more experience in forex trading. How to open a position, how to close, how to read the chart.

 

[willy]

because you are now a new trader and you do not have enough experience to trade with the real account therefore you need to trade with a demo account and to get training with it to make good experience which allow you to trade with real account

 

[Lee Mark]

Here are some reasons why we highly recommend for you to practice with a demo account:
Learn and experiment with play money
A demo account mimics the actual market in real time and allows you to use play money. This gives you space to try out a number of techniques, without fear of losing your actual money.

Well; till now demo is the best way to learn Forex! Interestingly, there no fee; as a result, a number of new traders start their learning process by demo account! Same from me, I practiced my demo for 1 year before my live.

 

[Svetlana Loboda]

It's important to gain more experience in forex trading. How to open a position, how to close, how to read the chart.

Yes it is and eventually building a good trading strategy! I am sure, till now demo is the number one way of learning Forex.

 

[Tom Latham]

If you are not comfortable with demo or can’t concentrate on it’ then go for cent type live account; go slowly but effectively!

 

[Anderson]

Demo trading is important if you know how to use it. No matter you are new or old traders. If you are old traders you must know with a single strategy you can not make profit all the time. We need to change according to the market condition. To test your strategy demo account is the best place. You can't lose money by testing on live account.

 

[Tom Latham]

Demo trading is important if you know how to use it. No matter you are new or old traders. If you are old traders you must know with a single strategy you can not make profit all the time. We need to change according to the market condition. To test your strategy demo account is the best place. You can't lose money by testing on live account.

Basically, greedy traders aren’t interested on demo trading; they focus on only money making instead of learning! But till now demo is the best way of learning Forex!

 

[Tom Latham]

Demo account is good way to learn trading forex without any risk, as newbie this is very much important for them, practice with using virtual money, but working in real market condition, for backtest skill trading, this is free and best way to start learn forex trading, make sure in demo highly profitable before jump to real account

I don’t know why new traders ignore the facility of demo although this is the best way of gathering trading knowledge without any free; by investing only traders time & efforts!